It is clear governments can play an important role in providing SMEs with resources and support to scale up in this sector, evidenced by the tangible results produced by the Creative Industries Innovation Centre (CIIC), a collaboration between the University of Technology Sydney, the Commonwealth Government Department of Industry and key players in the creative industries from 2009-2015.
What is happening in China, Korea and Indonesia demonstrates an industry action plan for the creative industries is an essential step towards creating jobs for the future.
Indeed, we have much to learn from our largest two-way trading partners. Anthony Merrilees, who worked as an industry partner in the CIIC, has studied a number of international policy responses to the development of creative industries in Asia, the US and the UK.
Merrilees notes Australia's Asian neighbours have been embracing the economic development opportunities of the creative industries, adopting coordinated policy approaches that foster those industries within their economies.
It's not just Asia. Australia's third largest trading partner, the United States, earns more export revenue from its copyright industries, such as film, software, music and television, than it does from the export of its manufactured or pharmaceutical products.
Our seventh largest trading partner, the United Kingdom, recognises the creative industries as a growth sector and as such, last year launched 'Create UK', which provides a strategic vision and pathway for creative industries through to 2020.
Back in Australia, the CIIC provided direct support to more than 1500 creative businesses during its six years of operation. The businesses benefited from strategy advice delivered by the CIIC and tools to lift their business management expertise leading to growth and job creation. This work provided a significant foundation for a collaborative approach to innovation and policy development.
I'm pleased to say they can continue to benefit from a new book, Creative Business in Australia that shares the insights from the work done by the CIIC.