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Cultural and Creative enterprises: 830,000 employees

De Felice: a sector with good growth prospects, searching for new resources

Cultural and creative enterprises also prove to be very dynamic. Suffice it to say that over half of the enterprises expect an increase in business in the 2019-2020 two-year period and more than 60% of respondents declare that they will invest, particularly in communication and marketing. Driving factors in the future will be the presence of qualified human capital and innovation (both in terms of product and technology), recognised as key elements for determining sector performance.
However, in order to continue to grow, in an uncertain context, the sources of financing must be strengthened. And from this point of view the role of the Bank becomes fundamental, precisely because more than half of the interviewees state that for their own development medium-long term loans are needed as a priority, with maturities and repayment methods tailored to their business. The cultural and creative enterprises, given the peculiarity of the sector, require roles with specific skills and ad hoc products, to improve the relationship with the bank.
Gregorio De Felice, Intesa Sanpaolo Chief Economist, commented: “Cultural and creative enterprises are a key driving force, both for the direct impact on employment, which is on average younger and more qualified, and for the contribution to innovative and creative skill and social cohesion. More resources are crucial to foster growth, in a context of deep changes. The analysis shows that this is a sector with growing prospects and a good propensity to invest: over half of the enterprises expect an increase in business in the 2019-2020 two-year period and more than 60% of respondents declare that they will invest, particularly in communication and marketing. Driving factors for future development will be the presence of qualified human capital and innovation, both in terms of product and technology".
According to Stefano Firpo, General Manager of Mediocredito Italiano: "The development of these enterprises, however, is impacted by the uncertainty of public contributions for cultural enterprises, and, more broadly, by the burden of bureaucracy and difficult access to resources. The lack of funding is particularly felt, together with a complex context of threats and opportunities in which cultural habits and the ways of enjoying cultural and creative goods and services are profoundly changing".

 

 

 

October 2019

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