After all, what is the Creative Economy?

Whatever the segment of your company, you probably need to use your creativity daily to keep your business up to date in the market

Whenever someone is exercising their imagination to achieve improvements aimed at economic value, it will be creative economy. After all, whatever the segment of your company, most likely you need to use your creativity daily to keep your business up to date in the market .

If you want to know a little more about this concept, how important it is and how Brazilian companies have applied it, check out this exclusive text that we have prepared for you and enjoy reading it!

What is creative economy?

Developed by Professor John Howkins, the concept of creative economy is defined as a process that uses creation so that people can explore a certain economic value.

This concept is also directly linked to human needs, mainly due to the fact that, currently, the customer must be the center of the business. That is, companies must guide their actions according to the needs of consumers.

We live in an era increasingly guided by creativity, so investing in creative solutions may be the best option for entrepreneurs who wish to be present in the future of the market.

Basically, Creative Economy is a mixture of two complementary concepts; economic value, which is tangible and is related to processes such as production and distribution of products and services; and the creative value, which is intangible and is linked to creative, emotional and imaginary factors that involve the product or service in question. 

Let’s say you own a market. Using creative economy in your business will help you think of new ways to offer products to your customers, for example, thus generating greater profit for the company.

How to use this creativity in the market? We can mention the creation of a buying and selling application, in which consumers order and receive products without leaving their home, with home delivery. Another way would be, for example, to invest in advertisements, live shows, tastings, thus intensifying the relationship with your consumer.  

After all, the premise of the concept is to improve the forms of consumption for society as a whole 

Creative Economy in Brazil

According to a survey carried out by the Federation of Industries of Rio de Janeiro (Firjan) with Senai, the creative economy in Brazil generated R$171.5 billion and generated more than 837,000 formal jobs in Brazil in 2017.

It is noteworthy that this segment is also a promoter of digital transformation in markets, something increasingly demanded by today’s companies. In other words, the creative economy generates several changes and advances in companies.

Furthermore, in periods of crisis, such as the one we are going through, this type of economy is essential for businesses to be able to overcome the challenges.

After all, in these moments, the creative capacity is what will determine if the company will be able to transform itself and adapt to what the market will demand.

In another study, developed by the British Council ( British Council ) in conjunction with SEBRAE , it pointed out that this year, 2021, the expectation is that the creative economy in Brazil will reach around US$43 billion.

Main segments of the creative economy

In Brazil, the main segments of the creative economy are as follows:

  • media (editorial and audiovisual);
  • consumption (design, architecture, fashion and advertising);
  • technology (R&D, biotechnology and ICT);

It’s a fact that we consume this kind of savings on a daily basis. What is your routine today? Upon waking up and watching the social networks, you probably already come across a news published by a media, newspaper, magazine, television, or even a video telling this fact.

When scrolling the feed a little further, we came across a beautiful invitation to an event, for example, which was certainly produced by those who produce in the consumer sector .

A few minutes later, you notice that whatsapp crashed, why? An erroneous code reading observed and corrected by Google IT technicians.

At the end of the day, to relax, you can listen to music by your favorite artist. But that song is also creative, right? For this song to reach your ears, composers thought about the lyrics, musicians created arrangements and of course, the singers put their voices. 

What can we notice by observing our routine? That the creative economy is present in most of the activities we carry out on a daily basis.   

generating jobs

This type of activity generates more than 850,000 formal jobs in our country today. 

And the relevance of this type of economy is such that in 2011, the Secretariat for the Creative Economy (SEC) was created to promote, plan, coordinate and implement actions to strengthen this sector in Brazil.

It is also worth noting that the areas that generate the most jobs within the creative economy for Brazilians are engineering, architecture, fashion, design and advertising.

Can I create a creative business?

According to the Plan of the Secretariat for the Creative Economy , the sectors of this segment are those in which productive activities are directly related to creativity.

As we could see, it is not necessary for the business to be completely focused on the creative economy. In other words, it is enough to act helping or supporting companies that have this focus.

This sector is fundamental for the market as a whole. Thus, it may be worth looking for ways to make your business more oriented towards a creative economy mode, so that you can achieve more success in the market.

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