Business Transformation: Business Creators, Employees, and Home Area Upgrading due to Gentrification
The world of creative industries is a vibrant and ever-evolving one, playing a significant role in economic growth and regional development. A series of reports and discussion papers have been released recently, shedding light on the impact of creative industries on various aspects of society.
One such study, titled "Creative Destruction? Creative firms, workers and residential gentrification," explores the influence of creative firms and workers on neighborhood gentrification in England and Wales between 2001-2011. However, the available search results do not contain specific information or key findings about this particular study.
Typically, studies in this area examine whether the presence of creative industries and workers accelerates gentrification through rising property values, demographic shifts, and displacement, or alternatively if they contribute to neighborhood revitalization without negative displacement effects. Without direct results or abstracts from this study, it is not possible to provide its specific findings.
If you're interested in accessing the paper to learn more about its findings, we recommend accessing it through academic databases or journals specializing in urban geography or socioeconomic studies for England and Wales.
Meanwhile, another study by Tasos Kitsos, Max Nathan, and Diana Gutierrez-Posada, titled "Climate and Sustainability: Net Zero as a catalyst in fashion micro and small enterprises," is part of the "Discussion Papers" series. This report identifies examples of work taking place across three levels of change - social, economic, and technological - in the fashion industry, focusing on the UK's micro and small enterprises.
The UK's Fashion and Textiles industry contributed nearly £20 billion to the UK economy in 2020, demonstrating its global reach and influence. British arts, technology, and design are internationally renowned, attracting inbound foreign direct investment. The discussion paper "The Motives of Inbound Foreign Direct Investors in the UK Creative Industries" focuses on the global interest in the UK's creative sectors.
In addition, the report "Building sustainable regional music industry clusters" discusses the role the creative industries can play in regional development. This study is a part of the "Creative Destruction? Creative firms, workers and residential gentrification" series, which aims to shed light on various aspects of the creative industries' impact on society.
Lastly, the report "Working Together - Cooperatives as a creative industry business model" examines the understanding of cooperatives among creative workers and students. This study recommends policy interventions to respond to the limited impact of gentrification, such as planning rules to mitigate impacts in hotspots and employment training to help disadvantaged residents access creative jobs.
Creative clusters are particularly productive targets for investment and support, with most of the impacts concentrated in major cities and very creative neighborhoods. The effect of a 10 percentage point increase in local creative businesses leads to a negligible 0.2% higher probability of gentrification, as found in a study by Tasos Kitsos, Max Nathan, and Diana Gutierrez-Posada.
As we delve deeper into understanding the complex relationship between creative industries and gentrification, it is essential to continue supporting research and policy interventions that ensure the benefits of creative industries are accessible to all, without causing unnecessary displacement or harm to communities.
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