Abstract
The importance of the creative economy for the development of society not only from an economic but also from a social and cultural point of view has been the subject of numerous scientific and professional studies. The connecting link between them is the observation that creativity has been considered in recent years as a new type of competitive advantage. As a generator of added value for all businesses, the creative industries have unlimited growth potential and are thus seen as a route to sustainable development. One of the problems of the creative industry is to obtain resources for business development. This paper examines the financial structure of selected areas of the creative industries in the Slovak Republic, using mean values for 2016-2019, correlation and regression analysis of financial data in 2019 (before the negative impact of COVID19). The findings point to the absence of credit sources, which confirms the fact that these businesses are perceived as risky and unstable by banks and financial institutions in the Slovak Republic.
Highlights
The cultural and creative industries have an important role to play in the creative economy
The connecting link between them is the observation that creativity has been considered in recent years as a new type of competitive advantage
It is becoming the basis of a new direction, a new economic paradigm - the creative economy
Summary
The cultural and creative industries have an important role to play in the creative economy. Salder ⦋7⦌ proposes the Arts-based Creative Industries (ABCI) supplement resource limitations and demands for creative intensity through networks; techniques used by ABCI could be of value more widely to SMEs in an increasingly network-based economy These networks risk locking firms into unrealistic dependence on external sources of knowledge and funding which exert significant influence on business development. This industry comprises the operation of establishments and the provision of services to satisfy the interests of customers in the fields of culture and entertainment It includes the production, promotion, and participation in live performances, events, or exhibitions intended for the public; the provision of artistic, creative, and technical expertise to produce artistic products and live performances. Within the meaning of SK NACE Rev. 2, this is section 'R' and divisions 90-93
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