Entrepreneurship is proven to drive innovation, competitiveness, job creation and growth. It allows ideas and innovative concepts to be turned into successful ventures, and furthermore unlock the personal potential of creative individuals. Youth entrepreneurship in the creative sector is vital to ensure the continued development of societies, and is at the heart of the wider creative economy. At least Until 2020, the creative sector represented growth and created jobs across the board, particularly for young adults, whilst also strengthening social cohesion. The sector drove innovation, acting as a catalyst for change and stimulating invention and progress across a diverse cultural and economic landscape. Further to being essential drivers for cultural diversity in Europe, the creative sector comprises highly innovative companies and was deemed to be one of Europe's most dynamic sectors. A 2018 study - Boosting the Competitiveness of cultural and creative Industries for jobs and growth shows that cultural and creative industries employed more than 12 million people in the EU, which is 7.5% of all persons employed in the total economy. Cultural and creative industries (CCIs) are an important contributor to the economy with 5.3% of the total EU GVA and a further 4% of nominal EU GDP generated by these, often high-end industries. Where an economy is facing decline, CCIs can contribute to the emergence of grassroots economic activities, creating sustainable jobs and enhancing the attractiveness of European regions and cities, and EU cohesion policy has recognised the multi-faceted contribution of creativity to its strategic objectives of convergence, competitiveness and employment. SMEs are the engine room of the EU economy, and the critical role played by fledgling businesses in driving economic development and job creation is just being recognised. Across the OECD area SMEs account for approximately 99% of all enterprises and two-thirds of employment. SMEs account for 57% of GDP in Europe and 95% of all SMEs are in fact micro enterprises, traditionally the entry point for new entrepreneurs, and this is increasingly so in the CCI sector, where most new businesses employ on average 2 or 3 people. The cultural and creative sectors are important in their own right in terms of their economic footprint. Cultural and creative sectors are largely composed of micro-firms or non-profit organisations often operating on the margins of financial sustainability. Large public and private cultural institutions depend on this dynamic cultural ecosystem for the provision of creative goods and services. However, and arguably more importantly, they are critical to a shared sense of European identity, culture and common values. The labour landscape, where ‘jobs and skills for life’ were once predominant, has given way to a precarious job market, where entrepreneurial options should be, but often aren't posited as a viable alternative for some young people over dependent labour (OECD, 2018). In the EU-27 (exempting the UK) since October 2019 to July 2020 unemployment has risen from 6.6% to 7.2%. over 15 million people were unemployed as of July 2020. This incorporates a rise of 336,000 since June 2020. In the EU-27 in July 2020 average youth unemployment stood at 17%. The COVID-19 outbreak and the measures applied to combat it have triggered a sharp increase in the number of claims for unemployment benefits across the EU (Eurostat). This has disproportionately hit youth with unemployment (-25 years) by country as follows: TR 23.7%, BG 9.4%, IE 14.8%, ES 41.7%, IT 31.1%, LT 20.3% UK 12.5% Along with tourism, it is the cultural and creative sectors who have been the most badly affected by the Covid-19 crisis. Venue-based sectors such as performing arts, live music, festivals, cinema, etc. were hardest hit by social distancing measures. The abrupt drop in revenues has put their financial sustainability at risk and has resulted in lay-offs with repercussions for the value chain of their suppliers, from creative and non-creative sectors alike. The Ace Youth project will serve a crucial sector at risk, by building and sharing measures and materials to offer entrepreneurial competencies and resilience training for the young people most affected. Addressing poor in-school careers services, the narrow curriculum and industry misrepresentation in low socio-economic communities and cuts to arts education. People from lower socio-economic backgrounds all too often are not fully represented in the creative workforce, and to this end mentoring can play its part supporting budding, young entrepreneurs, and we propose to incorporate an inter-generational approach. It is also widely accepted that target group specific, coherent entrepreneurship education initiatives are in short supply throughout Europe, and now is the ideal time to blend entrepreneurial training with resilience training for young people in the creative sector.
The Ace Youth project served a crucial sector at risk, by building and sharing measures and materials to offer entrepreneurial competencies and resilience training for the young people most affected during the Covid 19 pandemic, and by addressing poor in-school careers services, the narrow curriculum and industry misrepresentation in low socio-economic communities and cuts to arts education. We wanted to improve the support available to young people most affected by the Covid 19 pandemic, ensuring that they had access to new methods, training and support in this sector and emerge with new skills and motivation to succeed in their creative fields. The COVID-19 outbreak and the measures applied to combat it have triggered a sharp increase in the number of claims for unemployment benefits across the EU (Eurostat). This has disproportionately hit youth with unemployment (-25 years) by country as follows: TR 23.7%, BG 9.4%, IE 14.8%, ES 41.7%, IT 31.1%, LT 20.3% UK 12.5% Along with tourism, it is the cultural and creative sectors who have been the most badly affected by the Covid-19 crisis. Venue-based sectors such as performing arts, live music, festivals, cinema, etc. were hardest hit by social distancing measures. From the Ace Youth project and in the context of a creative entrepreneurship, running such a project can achieve several outcomes and benefits. Here are some of our intended achievements: Development of entrepreneurial skills: The project aimed to equip young people with the necessary entrepreneurial skills, knowledge, and mindset to successfully navigate the creative industry. Participants can gain a deeper understanding of business planning, marketing strategies, financial management, and other essential entrepreneurial competencies. Empowerment of young entrepreneurs: By addressing the identified needs, the project aims to empower young entrepreneurs to take charge of their creative ideas and transform them into sustainable businesses. This empowerment can boost confidence, enhance their decision-making abilities, and enable them to pursue their entrepreneurial aspirations. Access to resources: The project can provide young entrepreneurs with valuable information. Additionally, participants can gain access to resources such as mentorship, workspace, equipment, or specialised tools that are essential for starting or scaling their ventures. Networking and collaboration opportunities: Through networking events, workshops, and online platforms facilitated by the project, young entrepreneurs can build a supportive community, connect with like-minded individuals, and establish collaborations. This networking can lead to valuable partnerships, knowledge sharing, and exposure to new markets and opportunities. Increased visibility and recognition: The project can contribute to raising awareness about the importance of creative entrepreneurship and the impact it can have on society. By showcasing success stories and providing platforms for young entrepreneurs to promote their work, the project can help them gain visibility, recognition, and validation for their creative endeavors. International and cross-cultural exchange: Considering the Ace Youth international dimension, it can offer young entrepreneurs the chance to engage in cross-cultural experiences, explore different markets, and learn from diverse perspectives. This exposure to international contexts will broaden their horizons, foster creativity, and expand their professional networks. The abrupt drop in revenues has put their financial sustainability at risk and has resulted in lay-offs with repercussions for the value chain of their suppliers, from creative and non-creative sectors alike and the young people affected are our target, and their needs are addressed by Ace Youth resources, training and sustainable interventions.
The Ace Youth project served a crucial sector at risk, by building and sharing measures and materials to offer entrepreneurial competencies and resilience training for the young people most affected during the Covid 19 pandemic, and by addressing poor in-school careers services, the narrow curriculum and industry misrepresentation in low socio-economic communities and cuts to arts education. People from lower socio-economic backgrounds all too often are not fully represented in the creative workforce, and to this end mentoring can, and did, play its part supporting budding, young entrepreneurs, and we set out to incorporate an inter-generational approach in this initiative. It is also widely accepted that target group specific, coherent entrepreneurship education initiatives are in short supply throughout Europe, and now was the ideal time to blend entrepreneurial training with resilience training for young people in the creative sector. Entrepreneurship is proven to drive innovation, competitiveness, job creation and growth. It also allows ideas and innovative concepts to be turned into successful ventures, and furthermore unlock the personal potential of creative individuals. Youth entrepreneurship in the creative sector is vital to ensure the continued development of societies, and is at the heart of the wider creative economy. At least Until 2020, the creative sector represented growth and created jobs across the board, particularly for young adults, whilst also strengthening social cohesion. The sector drove innovation, acting as a catalyst for change and stimulating invention and progress across a diverse cultural and economic landscape and requires intervention measures such as Ace Youth. Further to being essential drivers for cultural diversity in Europe, the creative sector comprises highly innovative companies and was deemed to be one of Europe's most dynamic sectors. A 2018 study - Boosting the Competitiveness of Cultural and Creative Industries for Jobs and Growth shows that cultural and creative industries employed more than 12 million people in the EU, which is 7.5% of all persons employed in the total economy. Because Covid 19 impacted on the Ace Youth target group so heavily this kind of project serives as a skills safety net. Cultural and creative industries (CCIs) are also an important contributor to the economy with 5.3% of the total EU GVA and a further 4% of nominal EU GDP generated by these, often high-end industries. Where an economy is facing decline, CCIs can contribute to the emergence of grassroots economic activities, creating sustainable jobs and enhancing the attractiveness of European regions and cities, and EU cohesion policy has recognised the multi-faceted contribution of creativity to its strategic objectives of convergence, competitiveness and employment. The cultural and creative sectors are important in their own right in terms of their economic footprint. Cultural and creative sectors are largely composed of micro-firms or non-profit organisations often operating on the margins of financial sustainability. Large public and private cultural institutions depend on this dynamic cultural ecosystem for the provision of creative goods and services. However, and arguably more importantly, they are critical to a shared sense of European identity, culture and common values so we focused on these in the project.