CRI 100 Chapter Notes - Chapter 4: Micro-Enterprise, Sole Proprietorship, Creative Class
Document Summary
How businesses make money to build creative activities/products. Main legal frameworks in which these businesses operate. Compares creative business and other business sectors. Concept of creative cluster; importance of location to creative business success. Business environment is subject to local/global change. Creative businesses need to creatively develop their business model/manage business operations. Many creative workers are freelancers and under the title self employment, defining them as a small business called sole trader. Creative businesses with more than one creative worker is a microbusiness. As a freelancer, you need to be responsible for paying your own taxes and national insurance, which are things usually done for you if you work for a company. Needs to make sure to save enough gross income to pay yearly tax bill. As your own business, freelancers need to be able to make more than they lose; profit.