Pittwater Economic Development Plan 2012-2016:
To identify emerging business and industries, it is not a matter of picking sectors but creating an enabling environment where innovative business and industries can emerge and grow. Increasingly, the competitiveness of ﬁrms depends on relationships with other ﬁrms including suppliers, customers and partners, as well as local factors such as the quality of the education and training system, infrastructure and business costs.
One approach to successful local economies is to emphasise the importance of clusters and networks to create this enabling environment. Networks are groupings of ﬁrms and organisations including training institutions that constantly exchange knowledge and information and promote learning.
Clusters are concentrations of competitive and complementary ﬁrms, usually geographically based, where constant interaction and learning from each other drives competitiveness. Successful clusters and local networks are comprised of people that are open, willing to exchange ideas, information and knowledge and engage in trustful interaction with others. They tend to have access to knowledge capital, ﬁnancial capital and social capital which enables time for strategic thinking and action.
Pittwater Business Clusters:
The Pittwater Economic Development Plan identifies growth, change and local strengths in the following sectors in Pittwater.