2016-11-08 Services & Organisation Committee Agenda

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         Definitions
Economic Structure - Economic structure is a term that describes the          Business accelerators will generally offer all of the services offered
changing balance of output, trade, incomes and employment drawn               by a business incubator. The key difference is the level of hands-on
from different economic sectors – ranging from primary (farming,              involvement by accelerator management which should increase the
fishing, mining etc) to secondary (manufacturing and construction             chances of success.
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 market value of
Brand - Is the combination of design and words employed in creating an        all final goods and services produced within an area in a given period
image that identifies a product and differentiates it from its competitors.   of time.
Over time, this image becomes associated with a level of credibility,
quality, and satisfaction in the consumer’s mind. The Noosa Brand is          Australian Bureau of Statistics (ABS) - Australia’s national statistical
built around the natural beauty of our region, which is conducive to          office. The mission statement of the ABS is to assist and facilitate
relaxation and revitalisation, and reflects a level of style.                 informed decision making, research, and discussion within governments
                                                                              and the community by providing a high quality and objective national
Business Incubator - The definition of a business incubator can be            statistical service.
described as a set of programs set up by a government, business alliance
or academic group through a variety of services/training. The intent is       Australian and New Zealand Standard Industry Classification
to help small companies in the incubator have a better chance of survival     (ANZSIC) - is a hierarchical classification with four levels, namely
through the start-up phase. Services may include but not be limited to:       divisions (the broadest level), subdivisions, groups and classes (the
                                                                              finest level). At the divisional level, the main purpose is to provide a
•   office space, usually at a reduced rate                                   limited number of categories which will provide a broad overall picture
•   office services: receptionists, conference rooms, computers, office       of the economy.
    equipment etc
                                                                              Peri-urban - can be described as the landscape interface between town
•   entrepreneurial advice and mentoring. Entrepreneur advisor
                                                                              and country, the rural - urban transition zone where urban and rural
    services can range from establishing a web presence to identifying
                                                                              uses mix. It is the area immediately adjoining an urban area, between
    IP licensing opportunities to raising capital
                                                                              the suburbs and the countryside.
•   business planning and market adjustment consulting. Business
    plans are dynamic and constantly need to be adjusted to fit the           Smart Economy - This Plan refers to a smart economy as one that
    market                                                                    recognises four forms of capital: human; built; environmental and social;
•   contacts and Networking: The biggest advantage of a business              and combines the successful elements of the enterprise economy and the
    incubator is its access to experienced entrepreneurs, innovators and      innovation and ideas economy, while at the same time sustaining a high
    professionals who can answer questions and provide guidance and           quality natural environment, and a cohesive and connected community.
    resources.
                                                                              Noosa Biosphere® - Noosa Biosphere® is a registered trademark of
Business Accelerator - A business accelerator is very similar to an           Noosa Council.
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 capitalists looking
for an opportunity to finance growth potential through defined action
plans.




                                                                                                             Noosa Shire | Local Economic Plan | Page 41