The creative and cultural economy is a globally talked about subject as each day the creative industry grows to be an increasingly important part of the global economy. The term Creative economy refers to the socio-economic potential of activities that trade with creativity, knowledge and information. Governments and creative sectors across the world are growing ever more important as a generator of jobs, wealth and cultural engagement.
Example of fields within the creative industry include: advertising, architecture, design, art, fashion design, film, video, TV and radio.
EMPLOYMENT
The employment rate within the creative industries has increased by 8.8% between 20011 and 2012, compared to 0.7% for all UK economy. These statistics show us just how valuable the creative industries are the the UKs economic environment.
SELF EMPLOYMENT
There is a high rate of self-employment currently with 34% of peoples being self-employed; there are also more than half of the creative industries that are self-employed. Drive, communication, organisational skills and ambition are all personal attributes needed to succeed in self employment. Self employed individuals must be able to deal with instability, problem solving, marketing, strategic thinker, and social skills for collaborating.
EXPORTS
Exports by the Creative Industries were £15.5 billion in 2011, which is 8% of total UK service exports. Between 2009 and 2011, exports from the Creative industry increase by 16.1%. Fashion houses are small employers that go through multiple arrangements and agreements. UK Fashion Industry supports 797,000 jobs – decreasing 2.3% from 2009. Wages have increased over £46 billion, increasing of 23% from 2009. There has been a reduction in employees, yet increase in wage bill.
