The Young Creative Entrepeneur Awards are based in the UK and support creative entrepreneurs in the development of a “competitive and sustainable creative economy that extends cultural engagement and supports cultural diversity through the development of a strong independent creative sector.” Within the fields of visual arts, communication, interactive technology, design, music, fashion, and publishing, contenders are judged on business know-how and success (profit, market share, employees) in addition to creative ability as judged by their peers.

Not only does this recognize a healthy sense of competition (never a bad thing in responsible doses), the awards assess risk-taking and corporate skills in an industry where the term “business” makes people rather squeamish. Lyn Gardner, a theatre critic and judge for the performing arts awards, addresses this hesitance to embrace a commercial philosophy when operating a creative enterprise. She writes, “In the current climate, our need for cultural entrepreneurs is greater than ever; we have as much need of organisational energy, corporate skills, original ideas and a willingness to take risks as we do of creative energy. When funding dries up, so too does the quality and riskiness of work on our stages.”

There is only so much grant and public funding to go around, so it’s important to analyze the bottom line when it comes to cost and operating budgets so as to make the most out of an organization’s creative capital. Such leadership can only lead to necessary change in a field notorious for its financial woes.

Find out more about the YCE Awards here; winners will be announced at the end of August.