I know you didn't ask, but here's something worth talking about: many creatives struggle with business administration and financial management. And it's not because they're incapable.

Research shows that creatives prioritise artistic goals over commercial ones. A recent Financial Times article reports that arts graduates identified business, finance and entrepreneurial skills as the biggest gap between what they were taught and what they needed in real-world situations (2025). I recall the frustration from my own experience of being trained as a musician: I learned almost everything about crafting compelling intellectual property assets and making creative decisions, but not how to leverage those skills in a way that was economically sustainable for me.

Economist Alan Krueger's Rockonomics offers a powerful lens to understand this issue. He describes the music industry as a "superstar economy", where a small group of players (labels, streaming platforms, etc.) dominate and capture a disproportionately large share of the economic value (2019). This dynamic plays out across the broader creative economy, where independent creatives are often left underpaid and overworked in systems designed to favour the few.

Without formal training in business or finance, independent creatives are at a significant disadvantage. They're expected to not only master their craft but also manage marketing, contracts, budgeting, compliance and still have time to create. This knowledge gap doesn't just affect individuals, it impacts the long-term sustainability of the entire sector. Moreover, it leaves creatives open to exploitation and economic violence under ehem… certain companies.

But this problem isn't unique to creatives. Many small business owners and entrepreneurs face similar struggles. Especially in informal sectors. The good news is that there are practical, actionable solutions: access to business education; mentorship; training programmes; and better support systems can go a long way in bridging the gap. Question is, who is really prepared to challenge the "superstars" and disrupt their exploitative tactics?

If you're a creative trying to make a living from your work and find the business side overwhelming, you're not alone. And you don't have to figure it all out by yourself. If you're looking for help with business administration, head on over to our label services department and book a consultation. Let's build an industry that supports both creativity and economic sustainability.