Business Building Blocks for Innovation and Transformation
A strategy designed to build the capacity of Mid West businesses - "Building Blocks for Innovation and Transformation” has been launched.
The strategy proposes seven key initiatives to move the small business sector towards the desired Mid West Blueprint vision for “An economically diverse and dynamic business sector that captures the productive capacity of the region and coverts opportunity to employment”.
The strategy is a direct result of the Mid West Blueprint process which last year delivered $20million Royalties for Regions funding for the Kalbarri Skywalks.
“Business Building Blocks for Innovation and Transformation” was developed under the leadership of the Mid West Chamber of Commerce and Industry in partnership with industry and business leaders, Local Government Authorities, Mid West Development Commission, Business Local and Regional Development Australia Mid West Gascoyne.
Mid West Development Commission Chair Murray Criddle highlighted the importance of taking steps to support business growth, accelerate innovation to create and keep jobs in the region.
“At the heart of the Mid West region’s economy are more than 5,000 small businesses that span 19 industry sectors and employ approximately 45% of all private sector workers,” Mr Criddle said.
“Small businesses face a range of challenges including globalisation and a new digital business environment, increases in the cost of doing business, skills and labour supply issues and access to finance. These challenges impact on productivity and business survival, which in turn impacts on families and communities.
“To meet these challenges and capitalise on new opportunities, small businesses need to become more efficient, innovative, productive and competitive. This strategy proposes a program of initiatives that will help create and sustain the right business environment.
“The strategy identifies seven “first steps” initiatives that will directly assist small businesses, microbusinesses and non-employing firms in the region. This is the first coordinated plan for small businesses for this region.
“The initiatives proposed through this strategy are suggested pilot programs that have the potential to benefit businesses not only in the Mid West, but throughout the state,"Mr Criddle said.
The Mid West Development Commission is developing a Business Case for funding for the implementation of the initiatives identified through the strategy,”
For further information please Full Document below.