Stuart Cunningham - Creative Economy, Question 7:

How can the public sector foster a creative economy?

Duration: 2:00

Most public policy is aware of how to support biotechnology technology and nano technology and its fascinating and potentially extremely important for our society. I am certainly not anti science, but there are also whole other dimensions if you like, the small business, the start up, the R and D based dimensions of our economy that are fed by creativity, that public policy needs to take greater awareness of.

The broad creative sector is one that is characterised overwhelmingly by small enterprises. Its also characterised by very large multi nationals and also quite large public sector companies for instance public sector broadcasters or large cultural institutions, and a lot of analysts said that there is a missing middle in this sector.

That the structure of the industries look like hour glasses, so they are a bit fat at the top, very narrow in the middle and quite fat at the bottom. And there is a problem about should there be more middle range companies, so there are real questions of growth and the need for growth where it can be achieved.

A lot of businesses in this sector however find that.,…well our research shows that there is a sort of death valley at about 7 years in, and that if you are successful and if you grow often you are over stretched. And the…..getting the balance between a business that is successful at the small scale and those that can appropriate grow into middle sized business is actually one of the imperical conundrums of the sector at the moment.

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