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Innovation, creativity and new endeavours are welcomed and encouraged. Ideas are exchanged across all sectors, resulting in a creative business culture. We have excellent education and research institutions, and benefit from being the seat of government.
Entrepreneurship and innovation, including research and development are important for economic growth and for sustaining a dynamic economy capable of competing successfully on the international stage. A diverse business environment is better able to absorb cyclical downturns and changing market trends. If there is business confidence people are more inclined to venture into entrepreneurial activities as they see the economy able to support new ideas.
Entrepreneurial and innovative community is made up of 4 indicators that were selected to measure progress towards the entrepreneurial and innovative community outcome definition (shown above). Please see below for the raw data available over the 2001 to 2018 study period for each of the entrepreneurial and innovative community indicators.
As with the economic well-being GPI, the available indicator data that forms part of entrepreneurial and innovative community outcome area was used to calculate individual index values for each indicator where data was available. The graph below shows the average of these individual index values, and represents the entrepreneurial and innovative community GPI for the Wellington region from 2001-2018.
Natural disasters (and the cost of cleaning up after them) actually create an increase in GDP, thus counting natural disasters as a benefit to our economy. From a GPI perspective, natural disasters would be a decline in our well-being
Click on each indicator below to access further information
This indicator is considered a reliable measure of business activity. Business turnover is defined as the sum of business start-ups and closures. Business start-ups as a share of business turnover is used as a proxy measure for gauging the level of entrepreneurial activity in the economy.
Business start-ups expressed as a percentage of business turnover (start-ups and closures).
Last updated March 2019
Indicators are updated in May and November each year; for those indicators where new data or survey results have become available.
While care has been taken in processing, analysing and extracting information, we cannot guarantee that the information is free from error and we shall not be liable for any loss suffered through the use, directly or indirectly, of any information, product or service.