Small businesses in the creative industries such as filmmakers, visual artists, designers, writers, fashion designers, and record labels want to maximise their business potential and improve their entrepreneurial skills. However, business owners and managers in creative industries were unable to access industry specific business programs.
In response, Creative Economy designed Young Entrepreneur’s Success program, Australia’s first national program for small business owners and managers in creative industries. The program was designed by industry professionals who understand the dynamics of creative industries. The program provided small group and individual business mentoring addressing key industry business issues including; intellectual property; business opportunities (making money in the creative economy and business development), attracting investors, buyers and strategic partners.
In total 471 entrepreneurs participated in group mentoring and 12 participants received one-on-one intensive mentoring in Brisbane, Cairns, Sydney, Melbourne and Northern Rivers. Participants reported improved business skills including increased capacity to understand and maximise IP rights, a better understanding of commercial markets, an increased capacity to identify and maximise business opportunities, improved financial management skills and an acquisition of greater industry knowledge and access to networks. As a result participants secured export deals, international licencing agreements, and major commercial distribution deals.