Social Capital a Growth Market

Coffs Coast Advocate (Coffs Harbour, Australia), May 22, 2013 | Go to article overview
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Social Capital a Growth Market


Byline: Cherie Park committee member

SOCIAL capital is about the value of social networks; bonding similar people and bridging between diverse people. Social capi- tal is fundamentally about how people interact with each other.

Successfully harnessed, social capital facilitates co-ordination and co-operation, resulting in mutual benefit to all social networks involved and a positive impact on the economic growth of a region.

Communities with a high level of social capital will always demonstrate a high level of econo- mic development.

Synergistic social capital results in an engaged community, which is crucial in facilitating enhanced economic development outcomes for a regional community like Coffs Harbour.

Growth of our city requires a collaborative approach from federal, state and local politicians, local council, chambers of commerce, regional development organisations, property owners and developers, business owners, action/lobby groups, health and educational institutions (just to name a few), as well as all local citizens to develop successful strategies in terms of regional development policy.

Education, training and employment also plays a vital part in the growth of regional Australia. By adopting a collaborative approach, these elements can have a positive impact on the economic growth of our region.

To be competitive in todayas market you need to embrace change and be committed to the constant learning and adjustment to the changing world around us.

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