Purpose This study aims to examine the relationship between artistic orientation and entrepreneurial performance and how other central entrepreneurial resources, namely, entrepreneurial orientation and financial literacy, affect this relationship. Design/methodology/approach Regulatory focus theory was used to develop the model. A survey of 375 small creative business entrepreneurs was conducted in Yogyakarta, Indonesia, and a hierarchical linear regression was used for data analysis. Findings The results reveal a positive correlation between artistic orientation, entrepreneurial orientation, financial literacy and entrepreneurial performance. Therefore, artistic orientation affects a creative firm’s financial and nonfinancial performance. In addition, artistic orientation and financial literacy provide a positive influence on the overall performance of a creative venture. However, the interaction effect of entrepreneurial orientation and financial literacy on the artistic orientation – performance relationship – is invisible Practical implications This research provides guidance on how creative firms may focus on the acquisition, development and protection of useful resources, namely, artistic orientation and financial literacy Originality/value This research is the first systematic empirical test evaluating the relationship between artistic orientation and entrepreneurial performance

Purpose This study aims to explore how small and medium-sized enterprises (SMEs) in Indonesia display resilience in response to the Covid-19 pandemic. Design/methodology/approach A qualitative research design was used, which involved semi-structured interviews on five creative industry-based businesses in Yogyakarta, Indonesia. A narrative inquiry approach was used to obtain an in-depth understanding of SMEs’ resilience. The data obtained were analyzed using thematic analysis via MaxQDA 2020. Findings The Covid-19 pandemic triggered the emergence of both new opportunities and new constraints for SMEs. These, in turn, significantly interrupt their business model. SMEs are found to navigate survival, continuity and growth by drawing from their resourcefulness and firm-level strategies to cope with the new opportunities and constraints. Research limitations/implications This study was conducted qualitatively based on five SMEs in the creative industry in Indonesia. This limits the ability to compare the findings across different economic sectors. Practical implications SMEs facing emergent constraints may need to find new ways to recombine existing resources and simultaneously seek to innovate their business model. Business owners and entrepreneurs should adopt a positive mindset such as optimism, perseverance and efficacy, to cope with adversity. Growth-oriented SMEs may make use of a competitive mindset such as flexibility, speed and innovation, to spot and exploit opportunities that emerge from the crisis. Social implications SMEs’ resilience should be understood not only in terms of economic survival and continuity but, more deeply, about their social contribution to the localities where they operate. Originality/value This study illustrates the process of how adaptive resilience is adapted and executed by SMEs. It also contributes to entrepreneurial resilience and resourcefulness literature by explaining how entrepreneurs anticipate, respond to and leverage from the crisis.

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