An international publication focusing on success factors for start-ups in the creative industries has been presented at science conference EURAM 2019. Prof. Dr. Christian Lengfeld from Berlin presented the results of a research work in cooperation with Hochschule Mainz. This year, the annual science conference of the European Academy of Management (EURAM) took place at the ISCTE – University Institute of Lisbon with approximately 2,500 international researchers.
The paper “Bohemians as Managepreneurs? Success factors for managerial entrepreneurship in the cultural and creative industries” published by Max Höllen (Hochschule Mainz) and Prof. Dr. Christian Lengfeld (Hochschule Fresenius) deals with the factors influencing the success of start-ups in the cultural and creative industries. But what is success? “This is an exciting topic, especially when it comes to start-ups in the creative industries, because it’s not always about turnover first, but often about passion,” says Prof. Lengfeld. Two factors were therefore taken into account in the study. On the one hand, success was measured by monetary terms on the basis of annual sales. On the other hand, an individual factor was also included: the founders’ satisfaction with its economic situation.
The influencing factors included in the research model have been divided into three groups: The founders themselves, the company as an organisation, and the external environment in that it was founded. The results show that in particular human capital, i.e. the underlying experience and the attitudes of the entrepreneurs, play a significant role. The degree of internationalisation and the target groups of the companies also have substantial effects on monetary and individual success. “These results provide implications for further research, that I want to push forward, also in collaboration with our students,” says Christian Lengfeld.
The research cooperation with the Institute for Entrepreneurship at Hochschule Mainz has existed for several years and is based on a research project carried out in 2013 on behalf of the Rhineland-Palatinate Ministry of Economic Affairs.
Further information can be found at www.euram-online.org.