The Rise of Creative Industry with Technology Platform

Creative industry was introduced by John Howkins in which economy growth is dependent on new ideas. This concept has performed answers concerning to industrial-based economy and has shifted from industrial economy (manufacture) to creative economy (intellectual as main asset). Having obtained a minimum level of sophistication, each nation’s continued success and competitiveness will turn on added value and novel thinking. As developing countries, Government of Indonesia has seriously paid attention on creative industry sectors since 2009 through President Instruction Number 6 of 2009  on Development of Creative Economy in Indonesia. Since then, between 2010 and 2013, the creative industry also has seen its share of positive growth at a rate of approximately 5.6 percent.

The enhancement of this industry has been more massive since the birth of financial technology (fintech), specifically peer-to-peer lending (P2P lending), which is backed by technological developments, is a breath of fresh air offering financing solutions through platforms that may make micro sector, small, and middle economy operations easier. As an intermediary channel between borrowers and lenders, P2P lending is the bridge that will be able to answer the business needs of the creative industry to stay afloat. It is a strategic instrument to combat unemployment and alleviate poverty. Nevertheless, the creative economy phenomenon that is a kind of changing economic climate will affect how communities function and how business is conducted, influencing the nature of the legal assistance for every person of this industry. This consideration is especially important in transactional law, where increasing do-it-yourself resources are available to business owners and entrepreneurs, creating a misleading perception that they can handle legal matters on their own without the assistance of legal professionals. Additionally, some entrepreneurs may be unaware of the benefit that preventative legal work can provide their businesses.