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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 2017 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 2001-2017.
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
Businesses are a key component of the region's economy. A diverse business environment is better able to absorb cyclical downturns and changing market trends. The total number of registered businesses may give some indication of the vigour of entrepreneurship in the region.
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.