Abstract
SMEs—Small- and Medium-Sized Enterprises—in the cultural and creative sector traditionally face difficulties in accessing bank financing (The entrepreneurial dimension of the cultural and creative industries. Hogeschool vor de Kunsten Utrecht—HKU, 2010). This weakness in the ability to support their financing structure could not only limit their development but also be particularly problematic in times of crisis, when other financial resources are scarce and when the ability to prove resilient is crucial. This paper investigates the topic of access to bank financing for SMEs in the cultural and creative sector by means of an exploratory study carried out in the region of Burgundy (France) that investigates the perspectives of both banks and entrepreneurs.
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Notes
- 1.
Dailly is a specific French form of short-term debt, close to factoring schemes, which was initially created in the traditional economy for accounts receivable that did not qualify for standard factoring and that was revealed as appropriate for the sector-specific form of working capital structure.
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This research benefitted from the support of France Active and Bourgogne Active, who provided access to anonymized financial data that were essential to carrying out of this research.
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Borin, E., Donato, F., Sinapi, C. (2018). Financial Sustainability of Small- and Medium-Sized Enterprises in the Cultural and Creative Sector: The Role of Funding. In: Innerhofer, E., Pechlaner, H., Borin, E. (eds) Entrepreneurship in Culture and Creative Industries. FGF Studies in Small Business and Entrepreneurship. Springer, Cham. https://doi.org/10.1007/978-3-319-65506-2_4
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