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Success Factors for New and Emerging Industries. Dr Roslyn Prinsley General Manager New Rural Industries. The history of Australian agriculture is a history of new and emerging industries. Outline. What is a new and emerging industry? Why new and emerging industries?

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Presentation Transcript
slide1

Success Factors for New and Emerging Industries

Dr Roslyn Prinsley

General Manager

New Rural Industries

outline
Outline
  • What is a new and emerging industry?
  • Why new and emerging industries?
  • Success factors for new and emerging industries
what is a new and emerging industry
What is a new and emerging industry?
  • Present in Australia - now an organised industry
    • Goat milk, olives
  • New to Australian production
    • Alpaca, wasabi
  • Indigenous to Australia - unfamiliar to market
    • Crocodiles, native foods
why new industries
Why new industries?

Pressure on Australian agriculture to diversify

  • declining terms of trade
  • increasing competition
  • water reform
  • climate change
why new industries6
Why new industries?

New industries offer Australia

  • increased grower profitability
  • sustainable production alternatives
  • resilient farming systems
  • protection of genetic resource through farming
  • sustaining rural communities
  • value added products
  • regional ‘eco’ style tourism (eg coffee, crocodiles)
why new industries7
Why new industries?

Importance of new rural industries

  • Multiple enterprises = 70% of ag GVP
  • Increasing as a % of total agricultural GVP
slide8

‘Other’ industries as a % of total agricultural GVP

  • 16% in 1960 (Ag GVP $2.7 bil.)
  • 29% in 2005 (Ag GVP $35.6 bil.)
exports
Exports
  • 1970 - products other than grains, sugar, meat and wool made up only 17 per cent of exports
  • 2007-08 “other industries” nearly 50 per cent
however
However

New industries are

  • long-term
  • high risk
  • market failure

Some will be a

  • local/regional success eg coffee
  • national success eg canola
  • failure
which ones will succeed
Which ones will succeed?

Picking winners is difficult.

Need diversity

  • resilience - climate change, market volatility
  • plan for failure

Need a range to suit different

  • regions
  • farming systems and types
  • farmer skills and capability
success factors for new industries
Success factors for new industries
  • customers and marketing
  • competitive advantage
  • capability to consistently deliver quality
  • well functioning supply chain
  • effective leadership and strategic planning
  • business proficiency and access to sufficient capital
  • well-planned, well-managed, adequately funded research and development
think strategically and set goals
Think strategically and set goals
  • strategic planning framework /SWOT
  • prioritise investment decisions
  • true purpose for starting a new rural industry
  • criteria for success
  • expectations about how long it will take
research the market
Research the market
  • Domestic or export?
  • Size? Growth rate?
  • Factors driving market trends?
  • Market segments?
  • Competitors?
  • Competitive advantage?
  • Customers?
  • Access to market information?
develop marketing strategy
Develop marketing strategy
  • Understand value proposition
  • Position in market / differentiate
  • Determine strategic price point
  • Identify supply chain partners
  • Decide how to promote
  • Consider collective marketing approaches
supply chains and value adding
Supply chains and value adding
  • Product to market - how?
  • Partners in supply chain?
  • Cost advantages?
  • More sales at lower prices, or improving quality for more sales at same price?
overcome production challenges
Overcome production challenges
  • Optimise yields to achieve profitability?
  • Evaluate germplasm?
  • Market requirements for quality?
  • Prioritise production challenges?
  • Who can help?
  • Focus research on commercial outcomes.
manage research and development
Manage research and development
  • R&D plan
  • Meet production, processing, marketing challenges
  • Prioritise on profitability
  • Where to access skills to solve problems?
  • Source required funds?
  • Communicate research outcomes to industry.
organise your new industry
Organise your new industry
  • Include members of supply chain in industry association
  • Seek natural leader to chair
  • Ensure broad range of skills and industry viewpoints on Board
  • Seek professional advice for structure/funding of representative organisation
establish effective communication and support structures
Establish effective communication and support structures
  • Honest communications strategy - inform all stakeholders
  • Counsel new entrants
  • Keep industry website up to date
  • Offer opportunities to engage industry members in development activities
develop quality standards and codes of practice
Develop quality standards and codes of practice
  • Uniform product description, labelling and product quality standard
  • Industry code of practice
  • Disseminated standards and code of practice across the industry
case studies
Case studies
  • Olives
  • Crocodiles
  • Native foods
  • Different stages of development