The cultural nonprofit young entrepreneurs: new evidence
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Cultural nonprofit firms run by young entrepreneurs score a rate of economic independence (the ratio of government grants on total revenues) among the highest in the industry, although there is a small and essential share of government grants. These firms, because they have to deal with a difficult and hostile environment, have a strict control of organization costs and balance sheets in order to maintain the firm economic and financial sustainability in the long term. The cultural nonprofit youth firms are «creative» in many senses: some are intrinsic creative (the artistic ones), while others are only partially creative (the education ones). All firms, in one way or another, have a role in the dissemination of creative products. Despite these advantages, nonprofit businesses are weak in terms of organization, are financially fragile, and are at risk of bankruptcy or closure.
- cultural and creative sector
- nonprofit and cooperative organizations
- economic and financial sustainability