2015-12-14 General Committee Agenda Attachment 1 to Item 3 Noosa Shire Economic Plan

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      Definitions
Economic Structure - Economic structure is a term that describes     Business accelerators will generally offer all of the services
the changing balance of output, trade, incomes and employment        offered by a business incubator. The key difference is the level
drawn from different economic sectors – ranging from primary         of hands-on involvement by accelerator management which
(farming, fishing, mining etc) to secondary (manufacturing and       should increase the chances of success.
construction industries) to tertiary and quaternary sectors
(tourism, banking, software industries).                             Gross Regional Product (GRP) - is one of several measures of
                                                                     the size of its economy. Similar to GDP, GRP is defined as the
Brand - Is the combination of design and words employed in           market value of all final goods and services produced within an
creating an image that identifies a product and differentiates       area in a given period of time.
it from its competitors. Over time, this image becomes
associated with a level of credibility, quality, and satisfaction    Australian Bureau of Statistics (ABS) - Australia’s national
in the consumer’s mind. The Noosa Brand is built around the          statistical office. The mission statement of the ABS is to assist and
natural beauty of our region that is conducive to relaxation and     facilitate informed decision making, research, and discussion
revitalisation, and reflects a level of style.                       within governments and the community by providing a high
                                                                     quality and objective national statistical service.
Business Incubator - The definition of a Business Incubator
can be described as a set of programs set up by a government,        Australian and New Zealand Standard Industry Classification
business alliance or academic group though a variety of              (ANZSIC) - is a hierarchical classification with four levels, namely
services/training. The intent is to help small companies in the      divisions (the broadest level), subdivisions, groups and classes
incubator have a better chance of survival through the start-up      (the finest level). At the divisional level, the main purpose is to
phase. Services may include but not limited to:                      provide a limited number of categories which will provide a
                                                                     broad overall picture of the economy.
•   office space: Usually at a reduced rate

•   office services: Receptionist, conference rooms, computers,      Peri-urban - can be described as the landscape interface between
    office equipment etc                                             town and country, the rural - urban transition zone where urban
                                                                     and rural uses mix. It is the area immediately adjoining an urban
•   entrepreneurial advice and mentoring: Entrepreneur advisor
                                                                     area, between the suburbs and the countryside.
    services can range from establishing a web presence to
    identifying IP licensing opportunities to raising capital
                                                                     Smart Economy - This Plan refers to a smart economy as one that
•   business planning and market adjustment consulting:              recognises four forms of capital: human; built; environmental and
    Business plans are dynamic and constantly need to be             social; and combines the successful elements of the enterprise
    adjusted to fit the market                                       economy and the innovation and ideas economy, while at the
•   contacts and Networking: The biggest advantage of a business     same time sustaining a high quality natural environment, and a
    incubator is its access to experienced entrepreneurs,            cohesive and connected community.
    innovators and professionals who can answer questions,
    provide guidance and resources.

Business Accelerator - A Business Accelerator is very similar to
an incubator but differs in that they usually have a greater focus
on companies entering or growing in a national or global market.
Business accelerators are more likely to be financed by venture
capitalist looking for an opportunity to finance growth potential
through defined action plans.