IDEAS home Printed from https://ideas.repec.org/a/ssi/jouesi/v12y2024i2p127-147.html
   My bibliography  Save this article

Unveiling the Resilience of Creative Business: navigating the impact and recovery path of COVID-19 in Bulgaria

Author

Listed:
  • Stanimir Stamatev

    (University of National and World Economy, Bulgaria)

  • Miglena Angelova

    (University of National and World Economy, Bulgaria)

Abstract

The primary objective of the current research is to identify the impact that COVID-19 had on the Creative Business in Bulgaria and their first steps for recovery from the crisis. Our research is based on official and reliable Bulgarian National Statistical Insti-tute data. Based on the number of employed persons, the sectors most affected by COVID-19 in the creative business are sound recording and music publishing, photography, and advertising. For the period 2017-2022, there has been a slowdown in the growth rate of gross wages in the creative industries. This slowdown is most noticeable in 2019 and mainly in 2020, followed by a smooth and gradual recovery. At the same time, creative business companies in Bulgaria received the most extensive support in terms of public funding in 2020. The most generously supported sectors in 2020 within the Creative Industries are Advertising, followed by the Production and distribution of films and television shows and Computer Programming. The Creative Business companies in Bulgaria demonstrated relatively good sustainability and adaptability during and after the COVID-19 crisis. The rates in profit change confirm the serious negative impact of the pandemic (results in 2019 and 2020). Still, at the same time, it reveals a good level of resilience and recovery of the companies (results for 2021 and 2022).

Suggested Citation

  • Stanimir Stamatev & Miglena Angelova, 2024. "Unveiling the Resilience of Creative Business: navigating the impact and recovery path of COVID-19 in Bulgaria," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 12(2), pages 127-147, December.
    • Handle: RePEc:ssi:jouesi:v:12:y:2024:i:2:p:127-147
    DOI: 10.9770/h3222498933
    as

    Download full text from publisher

    File URL: https://jssidoi.org/jesi/uploads/articles/46/Stamatev_Unveiling_the_Resilience_of_Creative_Business_navigating_the_impact_and_recovery_path_of_COVID19_in_Bulgaria.pdf
    Download Restriction: no
    File URL: https://jssidoi.org/jesi/article/1251
    Download Restriction: no
    File URL: https://libkey.io/10.9770/h3222498933?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    creative industries; creative business; recovery; post-COVID situation;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ssi:jouesi:v:12:y:2024:i:2:p:127-147. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Manuela Tvaronaviciene (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.