SOUTH EAST NSW

Resilience Blueprint

Pillars

Summary

Economic resilience is a crucial element with strong inter-relationships and inter-dependencies across multiple system environments. The function of local and regional economies underpins our social resilience. Economic resilience can unlock opportunities and provide a form of stability during change and uncertainty.

During times of recovery, efficient grant management is required, making it easier forbusinesses to navigate and seek support and ensuring appropriate use of funds.

From a governance perspective, economic resilience is related to welfare impacts bade on the ability for the economy to cope and recover and can be influenced by policies aimed at prevention and mitigation (World Bank, 2014 and OECD, 2017). Economic growth is a widely-held aspiration that underpins liveability, and can be impacted significantly by shocks and stresses.

Local and regional economic diversification and a focus on innovation is a key opportunity to strengthen performance, and mitigate against volatility.

EXAMPLE APPROACHES FROM ACROSS THE REGION

The CSIRO’s ‘Enabling Resilience Investment’ approach is being piloted in the Bega Valley and focuses on planning for an adaptive future following cumulative events over recent years across drought, bushfires, floods and pandemic. CSIRO, Value Advisory Partners and the University of Adelaide are working with a range of participants including local government, businesses, communities and NSW Government agencies to identify and assess investment opportunities in disaster risk reduction and sustainable
development for a resilient Bega Valley.

The Snowy Monaro business and recovery hub is a partnership between Business Australia and Snowy Monaro Regional Council. The Hub is supported by a co-contribution between the NSW and Australian Governments through the Bushfire Community Recovery and Resilience Fund. The hub works with small business owners on their current operating issues and business happenings, providing linkages and
solutions, understanding the grants that are available, what current and potential challenges are for the business and how to continue to build resilience into their business.

The Rural Financial Counselling Service focus on supporting a sustainable, resilient and profitable primary production sector. With skillsets in commercial farming, industry, business, banking and commodities, the
Rural Financial Counselling Service offer business support services for rural enterprises across a broad spectrum of elements from business models, capital and finance to risk management networks and exit planning.

Tools for Support

For businesses and private sector organisations:

• Business continuity toolkit prepared by Service NSW
• Five lessons to ready your business and support community resilience prepared by the Australian
Business Roundtable for Disaster Resilience and Safer Communities
• Building small business resilience prepared by the Small Business Commissioner
• Find disaster recovery services and support provided by the National Recovery and Resilience Agency
• Service NSW for Business provided by the NSW Government
• What to do immediately after a disaster available from CPA Australia
• Guidance for business: To help reduce climate and disaster risk prepared by the Department of Home Affairs

For government:

• Special report: Update to the economic costs of natural disasters in Australia prepared by the Australian Business Roundtable for Disaster Resilience and Safer Communities
• Enabling Resilience Investment available from the CSIRO
• Enabling Resilience Investment tools, products and services available from the CSIRO
• A Blueprint to Grow Structured Giving prepared by Philanthropy Australia
• Resilience Valuation Initiative established by the Australian Business Roundtable for Disaster Resilience and Safer Communities
• Natural Hazards Research Australia economic analysis tools:
– Economic Analysis Screening Tool
– Value Tool for Natural Hazards

Diversification and Innovation

SYSTEM PRIORITIES

We harness a diverse economic base
We invest in enabler technologies and innovation

STRATEGIES

For businesses and private sector organisations:

• Business-based opportunities for diversification are explored and embedded, providing multiple income streams
• New approaches, practices and innovations are harnessed, providing first-mover advantage
• New technologies are explored

For governments:

• Diverse economic development growth and diversification strategies are developed and implemented
• Incentives for business attraction are considered
• Opportunities for specialisations that diversify smaller centres from others are advanced
• Changing market forces are anticipated and planned for, support and information is provided for small medium enterprises
• Enabling infrastructure to support digital enterprise is a focus area for investment

INDICATOR METRICS

• Percentages of market share across industry
• Number of local businesses
• Proportion of industries by employment and income
• Industry composition
• Gross Regional Product
• Unemployment data
• Number of local jobs
• Economic development plan implementation
• Support for economic diversification though feasibility studies

Resilience Resource Directory

Resilience is big space. Here is our directory with links to a number of local, state, federal, and international organisations and resources to help assist you on your journey to building resilience.

Explore

Acknowledgement of Country

We stand on Country that always was and always will be Aboriginal land. We acknowledge the Traditional Custodians of the land and waters, and we show our respect for Elders past and present. We are committed to providing places in which Aboriginal people are included socially, culturally and economically through thoughtful and collaborative approaches to our work.

Resources

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