Economic Development Strategy: Key Strategic Actions

Economic Development Strategy

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Future Vision

Key Strategic Actions

Information and Support Services to Business

Context

The City of Monash wants to be "first for business". From discussions, the Monash business community wants information to:

Understand the changing socio-economic characteristics of the municipality as well as broader economic and employment trends
Be aware of Council, State and Federal Government policies and programs as well as the services that are available to business
Know more about the mix and capabilities of businesses in Monash
Keep up to date with new business developments
Make good business decisions

In particular, there is a desire for a comprehensive business database and directory, as well as the capacity through e-mail to keep abreast of seminars, training programs, and new government and business developments.

Monash businesses also want regular contact and support by Council as part of an effort to retain and grow a strong business sector in the municipality.

Most of Monash's 12,000 businesses are small businesses operating in increasingly competitive markets. They are constantly faced with pressures relating to basic issues such as cash flow, recruitment of staff, customer service requirements, upgrading of skills, adoption of new technologies, business planning and marketing In terms of the range of business and employment assets, it is important for Monash to retain and develop a vibrant small and medium sized business sector.

They need networks to share information and gain access to other business products and services. As with small businesses, networking among larger businesses is critical to find out about new technologies and processes, as well as development opportunities.

The Monash Business Awards Program and the Monash Economic Development Forum are two local initiatives that have had considerable success in fostering networks among a range of businesses in the municipality.

State Government programs offer a range of programs for businesses. Similarly, educational institutions such as Monash University are important in providing training programs for business. Local schools provide opportunities to link students to jobs in the Monash community.

It is essential to tap into all of these organisations to gain access to specialist expertise as well as funding. Networking and developing partnerships are critical to this process.

Key Actions

In response to these needs and issues, Council will take a pro-active approach to:

Develop and further enhance a data base of all businesses in Monash and their capabilities, including e-mail contact details and website links
Maintain personal contact with a cross-section of Monash companies to receive feedback on how Council and the Economic Development Unit in particular can be of further assistance to these businesses
Provide information and assistance for business, on request, to encourage further business diversification and growth
Regularly inform the local business community of available business support services and business achievements in Monash by:
- providing a business newsletter three times a year
- establishing a distinctive presence on Council's Website, including an updated business section
- providing presentations and displays at various business forums
- profiling the business strengths of Monash including the magnitude and quality of business skills and marketing why Monash has such an abundance of skills, as a key tool to attract more businesses to the municipality
- assisting with the Monash Business Awards
- actively marketing the services provided by the Economic Development Unit
Provide checklist information to assist business with the development approvals process within Council (eg: Planning, Building, Health and Local Laws regulations)
Provide ongoing support for the Monash Business Awards Program
Provide ongoing support for the Monash Economic Development Forum
Provide assistance to other networking groups that can help Monash businesses
Encourage businesses in the education, health and home-based business sectors to participate in the networking programs
Foster partnerships with regional and State organisations and develop and support regional projects of value to Monash
Work in partnership with Small Business Victoria to provide up-to-date information geared to small and medium sized businesses with key contact points on available business services and funding
Facilitate training and education programs that are tailor-made to the needs of small and medium sized businesses
Provide through emails and newsletters regular information about Council and Government services and programs
Encourage the development of business mentoring for small businesses
Encourage small businesses to develop their information technology skills through facilitating information forums demonstrating local achievements and services, and profiling new business initiatives in Council's publications

The Economic Development Forum will assist Council in these initiatives through a business-based sub-committee of the Forum going out to a range of companies in Monash to keep them in touch with what the Forum and Council are doing, This process will include asking business how Council can help and how the businesses can contribute to stronger economic development (perhaps through sponsorship of Monash activities).

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Published: 29 October 2007

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