2015-11-10 - P&O Agenda - Item 18, Attach 1&2 - Draft Noosa Shire Local Economic Plan

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




                                                                                                 23 | P a g e