This document discusses strategies for developing areas and economies through cultural and creative industries in times of crisis. It outlines how cultural and creative industries are driving economic growth and innovation in Europe as traditional industries decline. Small and medium enterprises are strategically important, as the cultural and creative sector is dominated by freelancers and small companies. Successful development strategies involve taking an integrated approach to physical, social, and infrastructure development. Case studies demonstrate how areas have been revitalized by redefining cultural identities and supporting creative entrepreneurs through networks, collaboration and affordable work spaces.