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IS YOUR BUSINESS LOOKING AT EXPORTING? Deputy Chief Minister Andrew Barr weighs in

AIMING FOR SUCCESS IN 2013? Andrew Sykes from RSM Bird Cameron can help

FROM LITTLE THINGS BIG THINGS GROW FGD's Ann Northcote explains b2bincanberra.com.au JANUARY/FEBRUARY 2013

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CONTENTS B2B EDITORIAL

My 2013 to do list … We’re off and running in 2013. Below I have outlined 10 things that are on my 2013 to do list. 1. Spend more time with my family and friends There is no TIM time like the present. Don’t put it off BENSON for a couple of years. Reallocate your Editor time now. 2. Work smarter not longer Who am I kidding this probably means work harder not longer. But there are some smart people out there that can assist in the ‘smarter’ department. 3. Two ears: one mouth I am going to do a lot more listening this year. I ‘hear’ you can learn a lot more this way. I will try my best. 4. Delegate I will delegate more and not micro-manage quite as much as I usually do (can you delegate the role of micro-manager?). 5. Through the lips and onto the hips I will put less food and beverage into my mouth in 2013. I am informed this is an excellent way to lose weight. 6. Enjoy Canberra’s Centenary I will fully get into the spirit of Canberra’s Centenary in 2013 by performing and spectating at many of the great arts and sporting events. 7. Be more organised Many of us have multiple projects on the go at one time. I will endeavor to have plans, procedures and calendars in place to manage these in 2013. 8. Embrace technology I love technology. 2013 will be a year to adopt many of the wonderful new developments for B2B. 9. Build bridges I am looking forward to working with some of my competitors in 2013. I can think of many ways we can work together with the Canberra business community. 10. Help others I cannot remember the number of times I have heard of the great benefits that come from helping others. Whether this is in business or life. As they say Send all comments to ‘givers gain’. editorial@b2bincanberra.com.au

12 COVEr STOrY

FInanCIaL SUCCESS FOr SMaLL BUSInESS BY BraVIUM

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CONTENTS

COVER STORY 12 Financial Success for Small Business with Bravium

33 HEALTH Physical activity for health benefit By Healthy Identity

OPINION

RECRUITMENT Staff Retention By PCA People

18 From little things big things grow – Farrar Gesini & Dunn explains

18

16 RSM Bird Cameron explains the Now, Where, 20 22 23 26

23

36

A2B: ASSOCIATIONS TO BUSINESS

FEATURES How of your business Manage IT, don't risk IT with OPC IT First impressions count- hints and tips with CK Image The fresh face of success with Clear Complextions Your image affects how your brand is perceived Lawrence from SME Mobile explains

35 ACT EXPORTERS: ACT Companies building business in Asia 36 MINISTERS MESSAGE: Centre for exporting Government solutions 37 ACT & REGION CHAMBER OF COMMERCE & INDUSTRY: Chamber assistance available to you in 2013

29 ADVICE FROM THE EXPERTS 30 ACCOUNTING New insurance obligations for SMSF trustees By RSM Bird Cameron

BUSINESS NETWORKING

31 BUSINESS LAW Business: get me out of here! By Elringtons Lawyers

09 B2B @ Christchurch Earthquake Appeal Dinner

CORPORATE GOVERNANCE The benefits of good governance By Australian Institute of Company Directors 32 DOCUMENT MANAGEMENT Making green New Year’s resolutions By Ricoh ESTATE PLANNING Going overseas? Don’t forget to pack your estate plan By Certus Law

06 B2B @ Canberra Business Council Christmas Party 07 B2B @ Canberra Business Council ACTEW Water 08 B2B @ RSM Bird Cameron 90 Years Of Connections 10 B2B @ Ainslie Cellars Grand Opening 11 B2B @ Canberra Southern Cross Club 40th Gala Celebration 39 PROPERTY 40 BENDIGO BANK Should the government bank with the Community Bank? 42 ACCOMODATE CANBERRA Leading the way in executive apartments 44 BRINDABELLA BUSINESS BROKERS Does your market price make sense? Time to be realistic!

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B2B @ CANBERRA BUSINESS COUNCIL CHRISTMAS PARTY

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B2B @ CANBERRA BUSINESS COUNCIL ACTEW WATER HYATT

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COVER STORY

Scott Farmer, Managing Director, Bravium

Financial Success for Small Business Owners

S

mall business owners face many challenges, from the day-to-day running of their business; to generating sufficient income; to building up the value of their business to provide a significant future nest egg for themselves and their families. Running a small business can be lonely and stressful. By understanding who can help and how; small business owners can find the guidance and advice they need to start or further their journey along the path to success. This white paper explains the role a personal CFO can play in creating a successful financial life for small business

owners. In the corporate world a CFO, or Chief Financial Officer, is a corporate officer primarily responsible for managing the financial risks of the corporation, they are also responsible for financial planning and reporting to higher management. A personal CFO is a similar role for small business and can be an invaluable asset when it comes to ensuring the financial success of a small business.

THE CHALLENGES FACED BY SMALL BUSINESS OWNERS Access to credit Access to credit is vital for small business, as it

funds all facets of their lifecycle from start-up, through to growth phases and times where there are cash flow shortages. In recent years, banks have tightened lending requirements, becoming risk-averse. This means credit for small business is often more expensive, as it is often perceived to present a higher degree of financial risk. The Senate Economics Committee Inquiry into Access of Small Business to Finance (Published June 2010) reported decreased competition, increased bank profit margins and price leadership in the banking sector. According to the report, “Lending to small business has slowed since the global financial crisis and interest margins have widened.�


COVER STORY

The Senate Committee indicated that the fall in lending to small business could be attributed to a number of factors: • Reduced confidence caused a more conservative attitude towards debt; • Fewer small businesses are able to meet existing lending standards; • The tightening of lending standards by financial intermediaries; • Non-bank lenders have fewer funds available as securitisation and inter-bank lending markets dried up and/or interest rates became prohibitive. Steve, a Principal of a Canberra accounting firm which specialises in small business, says banks want the following from their small business clients: • Better accounting systems • Tighter controls • Better reporting systems • Sometimes monthly financials and • Business plans Basically the banks want to see better management from small business owners. In addition, the ATO has gone from being quite helpful regarding businesses with cash flow difficulties during the GFC, to now becoming much more forceful. “They (banks) are drilling into the management capabilities of the business as much as looking at the financial capabilities” Steve – Canberra accountant

Business owners who are getting the right advice and guidance will be better equipped and more organised when it comes to approaching banks for credit to grow their businesses. CASE STUDY

Jenny runs a small café in the CBD, which primarily serves coffee to busy professionals. She now wants to look at expanding into the premises next door, which has recently been vacated. As part of her expansion plans, Jenny wants to start selling sit-down breakfasts. After spending some time looking at the expense involved, Jenny feels a little overwhelmed by it all and is unsure how to assess the merits of her expansion plan, or how to finance it. Jenny decides she needs to call in some help. She brings in a personal CFO, who starts by developing a detailed business plan for Jenny. The business plans provides both Jenny and her bank with a clear picture of her proposed expansion including the benefits, risks, challenges, and her need for finance. Jenny and her personal CFO meet with Jenny’s bank and together negotiate the necessary capital to finance the expansion. In addition, her personal CFO recommends that she buy the operating premises of the business via a newly established Self Managed Super Fund and assists her with negotiating the purchase. With the help of her personal CFO, Jenny is now able to obtain the finance she needs from her bank and implement her expansion plan resulting in a more profitable and valuable business. In addition, the rent her business pays will help her fund her retirement, as her newly-established Self Managed Super Fund, which now owns the premises, receives this income.

Staff Good staff can be difficult to find and retaining them is a priority to many small business owners (SBO’s). Regardless of the financial

big picture, SBO’s are always at risk of losing a key staff member to a competitor. For this reason, many businesses consider incentives, such as employee share schemes. Staff are crucial to the success of almost any business, but they can also be one of the largest risks due to the expense of paying salaries and other on-costs, potential for poaching clients, insurance claims such as workers compensation, and industrial disputes to name a few. When you run a business and are busy doing what you are good at, having to deal with inter-office tensions between staff can be timeconsuming and draining. “We had to deal with conflict between a woman in her 50’s and a girl who was 22, it was ridiculous. They both sat at their desks doing no work and complaining about each other.” Rachelle Rose - Deep Green Landscaping, Perth

“You get one bad one and it lets the whole team down.” Eddie Cuschieri - Franchise Owner, Bob Jane T-Mart Belconnen

Lack of time is a common problem for small business owners, and one of the best ways to free up time is to delegate responsibility to staff. A good question to ask yourself is, “Can one of my employees do this 80% as well as me?” If the answer is “Yes”, then you should delegate that task. Productive employees can free up significant time for busy business owners, in turn allowing them to focus their time on the things that improve profitability. However increasing the productivity of staff is an ongoing challenge. “Reliability is an issue, and getting them to work productively is an issue. They have to have incentives. If they don’t have incentives, they can go and get a job in the Public Service to work half the hours and get the same sort of pay. They can’t comprehend that the more you do, the more you get rewarded.” Eddie Cuschieri-Franchise Owner, Bob Jane T-Mart Belconnen

In the book, “The Elements of Great Managers”, by Rodd Wagner and J.K. Harter, the authors discuss how to harness employee engagement and how this engagement can increase profitability. They quote the Gallup research on employee opinion, a comprehensive study in which the following areas became evident. Employees said, “If you do these things for us, we will do what the company needs.” The 12 elements required to engage employees include: • I know what is expected of me at work • I have the right materials and equipment to do my work correctly • I have the opportunity to do what I do best every day • In the last seven days, I have received recognition or praise for doing good work • My superior or someone at work cares about me • There is someone at work that encourages my development • At work, opinions seem to count • The mission or purpose of the company makes me feel that my work is important • My associates or fellow employees are committed to doing quality work • I have a best friend at work • In the last 6 months someone has talked to me about my progress at work • This last year I have had opportunities to grow and learn • By considering these 12 elements, your business will have more motivated staff, improved loyalty and higher profitability.


COVER STORY

All work is no fun Running a business consumes much of your time and energy and can make it hard to fit in important things such as family, holidays, exercise etc. Almost 50% of business owners estimated they work more than 40 hours in a typical week, while 22% estimated they work 41 – 50 hours, 18% estimated working 51 to 70 hours, and 6% estimated working over 70 hours.1 It is instinctive to work more hours in order to grow your business, but it may not always be the right option, especially if you consider the impact on your family life. Small business owners are usually very confident and capable at delivering a service, product or outcome to their clients, i.e. landscaping, accounting, printing, design, construction, etc. However, where many fail is in putting on their “business management hat”. For some small business owners, this part of the job does not always come naturally - it can be stressful and is often neglected. This is a great example of where a personal CFO can add value, by providing their guidance and tapping into experience gained by working with large numbers of small business owners. The right personal CFO can help you achieve financial success to make work optional. When you reach that point, you have much greater flexibility in regard to your other commitments, such as family. Source 1: Department of Innovation, Industry, Science and Research – Key Statistics Australian Small Business

When things go wrong Most small businesses don’t plan for the unexpected, such as death, disability, trauma, etc. Where there is more than one business owner, little thought is given to what happens in these same circumstances, and how to pay out that business partner, if need be. This year, 60,000 Australians will have a stroke, and a further 8,000 will die from injuries. The idea that “it won’t happen to me” is fraught with danger and puts a small business owner’s family, business and staff at risk. ”If Julian had a heart attack and dropped dead I really don’t know what we would do.” Rachelle Rose - Deep Green Landscaping, Perth

Consider these statistics: • 100% of SBO’s have heard of Life Insurance, yet only 65% of them have cover • 57% of SBO’s have no Total and Permanent Disability cover • 88% of SBO’s with loans have no loan protection in place • 76% of SBO’s have no Trauma Cover • 57% of SBO’s have no Income Protection Cover 2 Workers compensation is not available to the self-employed. Even if you are an employee of your own company, over 50% of serious injuries happen away from work where worker’s compensation does not apply. Worker’s compensation does not cover non-work related illness. Source 2: Cameron Research Group - The Australian Small Business Market for Financial Services: 2010

Case Study:

Mike runs a printing business which employs five staff. In 2008, Mike was diagnosed with lung cancer, which came as a surprise to both Mike and his family, as he has never been a smoker. He was told by his doctor that he had a 40% chance of surviving for 5 years, and he needed to undergo 6 months of chemotherapy. He was told to expect many side effects, including tiredness, feeling ill, bleeding and a lower resistance to infection - not very conducive to running a small business. Luckily, with the help of his personal CFO, Mike had a comprehensive safety net in the form of insurance. Mike received regular payments to meet his fixed overhead business expenses, such as rent and wages, plus key-man insurance to allow him to hire temporary staff. He received a lump sum to repay his business and personal debts, plus a combination of regular income and an additional lump sum to replace his wages. Mike was lucky - he beat cancer. He also didn’t have to worry about financial stress, had funds to pay for the best treatment available and his business continued to run while he focused on getting better.

The Exit Strategy Exiting a business is not a matter of if, but when. However finding the successor is neither easy nor clear cut. Many SBO’s are emotionally attached to the business they have built, and cannot imagine life after the exit. In addition, retirement may not coincide with the best time to sell the business. Understanding how to build value into a business, and then extract it, is vital. “We’re very aware that a lot of the business relies on Julian. If he walked away, there would be nothing left.” Rachelle Rose - Deep Green Landscaping, Perth

With a seamless, effortless and orderly succession plan, SBO’s are best positioned to both protect and capitalise on the value of their business. However, the exit plan is an issue that is either ignored, deferred or both. The reason, it seems, is that SBO’s simply don’t know what to do and they don’t ask. “This is exactly where I want someone to help me – I want to be out of here when my children finish high school, I want to be out of the business.” Eddie Cuschieri - Franchise Owner, Bob Jane T-Mart Belconnen Having a carefully planned exit strategy can dramatically increase the value of your business. Consider this – The objective of Private Equity funds is to make money. They do this by buying companies, creating more value in the company, i.e. making those companies more attractive to the market, and then on-selling them a few years later. To summarise, they have better prepared the business for a sale and executed a better exit plan than the original owners. It generally takes a number of years and significant expertise to carry out this task. As a small business owner, getting professional advice, well in advance of a sale, ensures you capture more of your businesses value upon exit.


COVER STORY

THE ANSWER A Personal CFO Running a business can be lonely; there are not many people you can turn to for guidance. ”None of our friends are self-employed, and you don’t really want to discuss what difficulties you have in your business and what money you are making with your friends.” Rachelle Rose - Deep Green Landscaping, Perth

SBO’s need much more than just product advice. They need a personal CFO to guide them in all facets of their financial life both business and personal. The first (and ongoing) priority of a personal CFO is to develop a clear and comprehensive understanding of the issues and challenges you face and the outcomes that are important to you. The first meeting with a personal CFO is often the first time many SBO’s have thought about and talked comprehensively with someone about their financial challenges and the outcomes that are important to them. A personal CFO can facilitate bringing in the many professionals that may be required to assist, such as an accountant or lawyer with specific skills for the problem at hand. Additionally, they can ensure these professionals are properly briefed on the problem and can then facilitate and ensure each professional works together to achieve the best outcome.

bravium Suite 4,, 32 Thesiger Court, Deakin ACT 2600 02 6232 4822 scott@bravium.com.au www.bravium.com.au


F E AT U R E

The ‘Now-Where-How’ in Your Business Business planning is very important – it’s like knowing the directions when you want to go somewhere. A great way to make sure your business stays on track is the “Now-Where-How” process. This asks three key questions that need to be answered in developing a plan:

Now

Where are we now?

The Now can be a difficult question for business owners to answer as it requires an honest assessment of the good and the bad within the business, encompassing: • Financial performance trends • Benchmarks • Staffing issues • System and process issues • Customer and product profitability • Market and wider economy factors Reviewing these internal and external factors allows you to “draw a line in the sand” that can then be used as the base to measure future improvements from. Assessing where you are Now can often lead to jumping in and fixing problems – or straight to the How part of the process. The problem this can cause is that you may just be fixing the easy things or the most visible. Ideally you want to be spending your energy on changing the systems or processes that are going to give you the greatest return in terms of increased profits or dollars spent.

How

How do we get there?

Where

Once you now the where, then you can focus on the How. This is your business plan – the action plan that will take your current position to where you want to be. This is the exciting part of the process because it means action. This is when you get to pull the “levers” of the business and see changing performance. Now-Where-How analysis ensures that your business plan does not simply become an operational plan, focusing on how you will run your business. It ensures that you are not stuck on an endless journey, without a destination. The continual use of this process is like referring to a road map. Always ask where is your business now, where do you want to get it to and how will you do it.

Where will we be in the future?

The Where part of the process will solve this.

What are you now required to do now?

Where is best seen as the strategic plan for your business. This is the plan that answers the question of where are you going and why? The strategic plan should look 3 to 5 years out and cover: • Core values that guide the business and the reason that it exists • Vision – where do you want the business to be positioned? • What capabilities are required to achieve the vision? • What are the competitive advantages of the business • How will success be measured?

Now-Where-How analysis ensures that your business plan does not simply become an operational plan, focusing on how you will run your business.

For more information, please contact Andrew Sykes at RSM Bird Cameron, on: 02 6217 0333 or andrew.sykes@rsmi.com.au.

With RSM Bird Cameron you truly are... Connected for Success.


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OPINION

From Little Things Big Things Grow... By Ann Northcote, Director, Farrar Gesini Dunn

S

eparation is a huge step. Sometimes, while dealing with the big issues, little things are left behind. Doing the right thing in small ways can make for an easier transition to living separately and also build some goodwill. Sometimes the small things can jeopardise agreement being reached. I have been present at settlement conferences that have failed because of a party feeling aggrieved over things that have occurred that an outsider might regard as small. The following are some tips to help you in relation to both children’s and financial issues: 1. Make sure you have a complete list of assets, liabilities and superannuation that will need to be dealt with in your property settlement. Your lawyer can’t help you if they don’t know about something. Some people forget about the jointly owned IAG shares they may have received when NRMA was floated some years ago. Has your company provided your ex with a fuel card? Do either of you have old superannuation funds that you have forgotten about? 2. Accounts for utilities will need to be sorted out but do not engage in petty behaviour such as organising for the electricity to be cut off at the home which you have vacated. Remember the children live there too. 3. Even if you were the “social secretary” during your relationship, remember that

4. 5.

6.

7.

8.

in most circumstances, you will now only have the children with you every second weekend. It is therefore not appropriate to accept birthday party invitations, or commit the children to weekly sporting events without consulting your former partner. Be fair about Mother’s Day and Father’s Day. If, pending a property settlement, you are driving a car that is in the name of your former partner, do the right thing by them when you incur a parking or speeding fine. If you have private health insurance talk to your fund about options available post separation. Do not remove your spouse or indeed your children from the family policy without prior consultation and agreement. No one would be happy with receiving a huge ambulance bill due to the actions of the other party. Pets. A lot of emotions are tied to our pets. Take into account the children’s feelings with regards to pets. Under no circumstances take a pet to be put down without the other party’s knowledge. If you are the spouse remaining in the former matrimonial home pending property settlement, however tempting it may be to have a big cleanup, do not discard items that you would acknowledge were more your spouse’s than yours, even if you can see little use for them. As the old saying goes, “one person’s trash is

another person’s treasure”. On the other hand, if you are the party who has left, be realistic that over time items do wear out or break. 9. Do not engage in destructive behaviour. We have all seen on television, stories of partners cutting up photos or their ex’s clothing. Any momentary satisfaction that this may bring you may be dwarfed by the response it elicits. If you dispose of or damage an item of property which forms the matrimonial pool, then the court can adjust for this in the property settlement. 10. Be very careful about what you post on Facebook, what you send by email and what you text. 11. Be sensitive to the how and when of introducing your children to your new partner. While one might think it is obvious, do not ask your children to call your new partner Mum or Dad, nor say to the children “this is your new Mum/Dad”. 12. Do your best to maintain at least a civil relationship with your former in-laws. Remember that they will always be your children’s grandparents, aunts, uncles and cousins. For Family Law Advice contact Farrar Gesini Dunn Level 5, Colonial , Mutual Building 17-21 University Avenue, Canberra City ACT P (02) 6257 6477 | F (02) 6257 4382 E fgd@fgd.com.au | www.fgd.com.au


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F E AT U R E

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anaging IT in business used to be a bit like becoming a new parent – someone with a glimmer of computer knowledge was assumed to have all the required skills and became the expert ‘go-to’ person for all in-house technical support. For something a little more serious this person could get help from their local IT company and fingers crossed all would be good again until the next outage! Sounds simple enough and when computers were little more than a PC hooked to a printer, well it kinda worked. IT is complex and too important to rely on one person today. There are too many considerations – PCs, servers, networks, backups, security, Internet, websites, viruses and spam - the list goes on and on. Even if you are fortunate enough to find someone with reasonably comprehensive IT skills, it remains that one person simply cannot be

competent across all the technologies that even one small office requires. Can your business afford to RISK IT to just anyone?

A fully Managed Service is the answer! Passing the management and responsibility of your IT to OPC that employs over 200 years of expertise in IT will guarantee your peace of mind. OPC and has been providing tailored, fully managed ICT and web services to large and small organisations throughout the ACT and Australia wide for over 10 years. OPC can take the hard work out of managing your IT requirements and allow you to get on with what you do best - your business. By incorporating all facets of ICT, OPC can provide a single end-to-end fully managed IT solution, reliably and consistently. Our clients have complete confidence that they really can just ‘leave i.t to us’. • Fully Managed IT Services • Remote Monitoring • Security, anti-malware, endpoint security User Management • Helpdesk & Service Desk Support • Business Continuity & Disaster Recovery Solutions • ICT Strategic Planning • VMware Server & Desktop Virtualisation / VDI Solutions • Dell Server & Storage Solutions • Desktop, Laptop and Mobile device

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Plan? What plan? Where is your business going in 2013? Now

How

Where are we now?

How do we get there?

Where

Where will we be in the future?

RSM Bird Cameron knows the vital importance of a business plan. A great plan can help you drive real business growth. We help you define your ‘now’, work out your ‘where’ and put structure around the ‘how’. Our business planning is concise and simple – so simple it fits on one page.

Connect with one of our advisors today and implement a game changing strategy for 2013.

Connected for Success. rsmi.com.au

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I M A G E F E AT U R E

First impressions Carol Mitchell, director of Canberra based CKimage consultancy, is an expert when it comes to defining an image.

when it comes to business

C

arol has spent decades, more than her polished image shows, practicing in the image industry. Starting with a British finishing school in Singapore and as an international model with Mannequin Studios, through to promoting Singapore as a tourist destination and running her success national and international CKimage consultancy. But Carol’s talents do not stop there. Carol is also a talented designer, tailor, seamstress and illustrator. And she is also the Founder and President of ENERGY Networking and SWISS (a social networking group to raise money for people with depression). So where do we start? How about with your first impression. “The image you think you have is not always in sync with the perceptions of others,” Carol explained, “But with a little work your image can be brought into line with reality and you can really start to enjoy the benefits of giving a good first impression”. What is a first impression? Carol says that you only have a few seconds to make your first impression and that you are judged before you have the opportunity to say a word. “You may have three degrees and an IQ of 150, but people judge a book by its cover and while that may not be fair it is unfortunately true,” Carol said. A good first impression is essential in business. “If there is to be a corporate culture transformation there must first be a personal attitude awareness and transformation,” Carol said. According to Carol there are three basic principles to creating a great first impression: attitude appearance and presence. continured on pg 24

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I M A G E F E AT U R E

SUZIE THE FRESH FACE OF SUCCESS Suzie Hoitink knows a thing or two about presenting the fresh face of success. Having been the face of the Clear Complexions Clinics for over seven years now, she, more than most, understands how important it is to project the right image.

S

he is, in essence, her own brand. Clear Complexions has achieved enormous success with two more clinics opening next year, another in Canberra and one in Sydney. On the back of her recent success at the Telstra Business Womens Awards, Suzie talks about being the face of Clear Complexions and why she believes people should invest in their image. Why do you front the Clear Complexions brand? I want to convey a message of authenticity, accountability, and professionalism to clients; that a real person is behind this brand, a medical professional they can trust. I stake my personal reputation on the treatments and products we deliver at the clinics. I also want to connect emotionally with people, before they have even walked into the clinics. What we do is all about relationships and caring for our clients. As the face of the Clear Complexions Clinics, you are naturally scrutinized. Is that difficult at times? No, not really. I love everything about what I do. I think it is sometimes strange when someone recognizes you but people are always so gracious and kind. Tell us about the typical Clear Complexions Client? Well, we treat men and women from the ages of about 10-90 years old!

A typical client though is usually time poor, wants a solution quickly, only trusts a medical professional to treat them, and is just after an honest answer on what will and won’t work for them. They love that our nurses do a thorough consultation and educate them on how to get their skin healthy again and keep it that way. I think they love our honesty, however brutal it may be at times! Why do you think it is so important for people to take care of themselves? Many of the people we see at the clinics are at a point in their lives where they realize that how they present has a direct effect on their working life. They don’t want to look 20 again; they simply want to look the best they can. I think we all want that. A lot of people are out there are doing amazing things in their careers, but like it or not, it is the image that you present, that first impression, that is often what is remembered. I also see the amazing effect taking care of yourself physically has on clients confidence and emotional wellbeing. The flow on effect throughout every aspect of their lives is profound. They just project this aura of self-assurance and having it together. People respond positively to that and are drawn to them and what they represent. It’s important. So, where do you recommend people start?

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The first step is picking up the phone and getting some guidance. Everyone’s skin needs are different and there’s a minefield of treatments and products out there that can be costly and potentially hazardous to navigate. Go to a medical professional. We only have nurses treating our clients at the clinics. What is your top tip for looking good at any age? Restore the health of your skin. Healthy skin is beautiful skin. Your skin is constantly trying to repair the damage the environment has inflicted on it, but UV exposure depletes the skin of the antioxidants needed for cellular repair and collagen renewal. So my top tip is to feed your skin first before embarking on any treatment. Only use medical grade skincare containing vitamins B3, C, A, and E, and use alpha and beta hydroxyl acids to restore the skins acidity. You will see the difference almost immediately. Then you can start on treatments that can make dramatic improvements in the look and feel of your skin. Any last words of advice? Keep everything in context and be age specific. What I mean by that is don’t be tempted to get 25year old lips at 55. There is nothing worse than seeing someone who looks ‘done’. Looking great is about being the whole package; healthy skin, healthy body and a healthy outlook.

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I M A G E F E AT U R E

In business the first impression received by a client is extremely important and shapes their decision as to whether they should continue to do business with you or not.

continued...

Attitude Carol says that ‘attitude’ is the key to success. “Without a positive mental attitude you will not reach your full potential. A great attitude can change your life. Nothing affects your clients more than your attitude,” Carol said. In business the first impression received by a client is extremely important and shapes their decision as to whether they should continue to do business with you or not. “96% of dissatisfied clients never bother to complain! In other words, each single client represents 24 other people who are equally unhappy with the service… AND simply take their business elsewhere. Of that 96% of clients who never complain 100% do share their experiences with friends and acquaintances,” Carol explained. Appearance Carol says when someone looks at you for the first time, it is in your best interest, personally and professionally, to make the effort to look your very best. “The way you dress, your hair and your grooming all say something about you and yes it does take time and effort however the rewards are great,” Carol said. We all know that too much alcohol, caffeine, nicotine and fatty foods are detrimental to the health of our internal organs but do we stop to think what they do to our appearance? Our appearance is greatly affected by these substances. We should do whatever we can to improve the way we look. Carol’s quick tips for improving appearance: 1. Your crown does not go unnoticed. 2. Wash your hair, every second to third day. Others can smell it before you can. 3. Use quality shampoo and conditioner

4. 5. 6. 7.

especially on bleached or coloured hair followed by an appropriate styling product and then blow dry for a neat finish. Regrowth is a very unprofessional look as is brightly multi coloured hair. A visit to the hairdressing salon can give you some great tips on styling. Men included. Men’s back of hairline should always be kept neat and tidy. Men’s nose and ear hair should be kept under control.

Presence In years gone by this would be called ‘etiquette’. Today I suppose you could term it as ‘good manners’. Some people joke about this part of your image. But good manners cost you nothing but can cost your business a fortune. “It is in your best interest to put in the effort. Correct greetings, telephone etiquette and table manners all make a difference,” Carol said. Good communication skills are also a must in business. “Active, effective listening is the foundation of productive communication,” Carol said. According to Carol good listening is also closely linked to memory. “A good listener tries to understand thoroughly what the other person is saying. Don’t assume anything. In the end you may disagree sharply, however before you do, you must give the other person the opportunity and courtesy of allowing them to have their say… uninterrupted,” Carol said. This is just a very brief snapshot of the services Carol Mitchell provides through her CKimage consultancy. If you or your staff could benefit from an image makeover contact CKimage on 0412 628 620 or info@ckimage.com.au .

M 0412 628 620 www.ckimage.com.au


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I M A G E F E AT U R E

YOUR IMAGE AFFECTS HOW YOUR BRAND IS PERCEIVED How consistent is your image?

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our image affects how your brand is perceived, to be effective, your image must be consistent across all mediums. This consistency builds trust, when a business is trusted it is more likely to successfully generate revenue. Your image or how you package and present your business is affected by a number of elements. One of the critical elements today is your website. People are searching online more and more, especially with the massive growth and uptake of mobile devices such as smart phones iPads and tablets. They are researching products, comparing prices and deals, looking for local suppliers, trying to make an informed decision. Gartner predicts that by 2013 the primary way people will access the Internet will be via their mobile browsers. This has huge implications for how your business needs to connect with prospects and customers. Mobile internet is exploding, and Australia is one of the leading countries going mobile. • In 2011, 2 billion people connected to the internet via mobile worldwide (5 Billion by 2020). • 94% of Australian smart phone owners have researched a business or product on their phone. • $5.7 Billion was spent in Australia on using a mobile device in the last 12 months. • This is an increase of 3500% in 2 years... • In the same time (2 years) Apple have sold 82 million iPads • Less than 2% of Australian businesses have a mobile optimised website

Where do you start?

You must first ascertain whether or not

by Lawrence Petroni

mobile marketing is right for your business. With that in mind, we’ve come up with a handy little checklist designed to help you figure out if mobile is right for you. Mobile marketing is right for your business if: • You need new customers. • You want existing customers to visit more frequently. • You want to improve your profit margins. • You need to appeal to a broader audience. • You want to differentiate your brand. • You’d like to improve your marketing return on investment (ROI). • You want customers to spend more money each time they buy from you. • You’re looking for new distribution channels. • You want to grow your market share. • You want to be in front of your customers 24/7. How are you presenting your image? Have you ever seen your website on a smart phone? If you do not have a mobile version of your website you are not presenting the best image of your business. • It is not easy to use • Your site may not load quickly • It is very difficult to read • It is very hard to find what you are looking for... People will be less likely to buy because your information is not packaged and presented in a convenient and user friendly, thumb friendly format. Your image and how you are perceived can directly affect your sales. With SME Mobile Loyalty’s done for you mobile websites and mobile marketing strategies, you can start tapping into the

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flood of mobile internet traffic & inquiries. If you would like to know how many people are searching for your type of business or product every month please email us at mobile@SMEmobileLoyalty.com and we will email you a Google report on traffic statistics specifically for your business. SME mobile 0414 295 676 | smemobileloyalty.com mobile@smemobileloyalty.com


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ADVICE 30 31

ACCOUNTING

31

CORPORATE GOVERNANCE

32

DOCUMENT MANAGEMENT

32

ESTATE PLANNING

33

HEALTH

33

RECRUITMENT

New insurance obligations for SMSF trustees by Lindsay Walker, RSM Bird Cameron

BUSINESS LAW Business: get me out of here! by Cassandra Emmett, Elringtons Lawyers

The benefits of good governance By Phil Butler, Australian Institute of Company Directors

Making green New Year’s resolutions By Iain Heddle, Ricoh

Going overseas? Don’t forget to pack your estate plan By Stephen Bourke, Certus Law

Physical activity for health benefit By Robbie Manzano, Healthy Identity

Staff Retention By Allison Guy-Ritchie, PCA People


ACCOUNTING

New insurance obligations for SMSF trustees

By Lindsay Walker

The Federal government has recently introduced new measures to strengthen the regulatory framework in which self managed superannuation funds (SMSFs) operate. These new responsibilities commenced 7 August 2012 and apply to all SMSF Trustees. Insurance Needs A new consideration which must now become a focus for SMSF Trustees is the requirement to consider the insurance needs of all SMSF members and to regularly review their needs. The government has ensured that SMSF Trustees comply with these new obligations by requiring the SMSF Auditor to report to the ATO any failures to adhere to these new rules. Any failure to adhere to the requirements could result in the fund losing its taxation benefits. It is critical that you are aware of these changes and that you understand and comply with the requirements. Documentation The new rules require that the Trustees not only consider the insurance needs of the SMSF members but that they also document their consideration within the fund’s investment strategy and minutes of their meetings. While the regulations do not require that insurance cover be taken out for members, they still must consider whether insurance cover should be held by the fund for each of the members. The regulations do not specify the types of cover but potential insurances might include death, total and permanent disablement (TPD), trauma and income protection. For all SMSFs, the fund’s investment strategy must include wording in relation to the consideration of insurance for the fund members, the decision on whether or not the SMSF needs to take out insurance for its members, and why (or why not) must be recorded in Trustee minutes. Furthermore, you need to regularly review the investment strategy including the insurance needs of the members and update the strategy and minutes of meetings. Our Financial Services division can assist Trustees with this analysis for each of your members by assessing their potential risk of financial loss as a result of death, illness or serious injury. Specialist risk management advisory services are available to determine the appropriate types and levels of cover required and to source competitive insurance policies to meet your members’ needs. Alternatively, if you already have your own financial planner or life insurance professional, they too should be able to assist you with your insurance needs. It is important that action is taken sooner rather than later with regard to this new obligation. Please contact RSM Bird Cameron Financial Services should you require help with regards to timing and the inevitable paperwork.

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Chartered Accountants

Lindsay Walker is a CERTIFIED FINANCIAL PLANNER® professional with RSM Bird Cameron Financial Services Pty Limited, Australian Financial Services Licence No: 238282.

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CORPORATE GOVERNANCE

BUSINESS LAW

by Cassandra Emmett

Business: get me out of here!

Like sands through the hour glass, the eventual winding down of your business (or your role in your business) is inevitable. But even if your New Year’s resolution is not to commence the move towards exiting your business, planning your escape should not be left until it is unavoidable due to age, health or circumstances. The best time to consider viable exit options is not 12 months or even 2 years before you intend to leave, but within the first 5 years of establishing your business.

Make it your 2013 New Year’s resolution to plan an exit strategy The most appropriate exit strategy will depend a lot on the structure of your business, but the usual options are: 1. Selling your business If you are not interested in creating a family dynasty to rival the Murdochs and one of your business assets is a good reputation then selling is a desirable outcome. To make this strategy viable your business needs to develop more than a good reputation, it needs genuine saleability. That means you can easily sell your business because it is not comprised solely of YOU. A business that is selfsustaining is one that someone will pay money for, but achieving that status is easier said than done. In 2013 we can help your business take off the training wheels and ride solo. 2. Winding up your business Whilst this strategy is generally more appropriate for sole traders or solely web-based businesses, it can be worth considering if only for the easy, fuss-free process. If you are satisfied with the income generated throughout the life of your business and do not need it to provide a retirement nest egg, then with the help of your professional advisers, it really can be as easy as taking your bat and ball and going home. 3. Passing on the reins of your business: You want to hand over your successful business to the next generation of family, friends or employees. Sometimes the changing of the guard may involve some complex restructuring. You might want to consider a degree of ongoing involvement and/or arrangements for a continuing salary or pension. Like all business dealings (especially with family and friends): get it in writing. The deal may have been struck over several beers, but it is not enough. We can sort out the formalities, so the beers you enjoy during 2013 are not the disputes of 2014. Make it your 2013 New Year’s resolution to plan an exit strategy that will leave you financially and emotionally secure. If you make the resolution we can do the hard work to keep it.

Cassandra Emmett Special Counsel & Manager, Business Services Contact Elringtons T: (02) 6206 1300, Level 7, 221 London Circuit, Canberra City visit: elringtons.com.au

by Phil Butler

The benefits of good governance

I wrote in a column in 2012 about the benefits that advisory boards can offer to smaller businesses. In this first column of 2013, I am revisiting this theme but on a broader scale, by looking at the importance of good governance for any type of organisation, including Not For Profit, Private and Public Sector organisations.

A functioning, competent board can provide enormous advantages to an organisation’s performance. The independent and objective advice that a board brings to the decision making process is critically important. There has long been recognition that better governance should lead to better performance, however it has also been somewhat difficult to quantify. In recent years there have been many articles written on quantifying this link. A recent article I read listed a number of tangible benefits including better operational results, lower cost of capital and better share performance. What was also apparent was the impact of better governance during the turbulent times of the Global Financial Crisis. While good governance assists across all sectors, it is important to recognise that there are differences as well. The governance structure for a small business or a small NFP will be different to a large publicly listed company or a large NFP. What is consistent however is the need to have the right people on boards and committees of the organisation. The board or committee must have the appropriate mixture of skills and experience to assist in setting strategy and making decisions. And as an organisation evolves and matures, it needs to recognise that the skill requirements of directors will also evolve. A functioning, competent board can provide enormous advantages to an organisation’s performance. The independent and objective advice that a board brings to the decision making process is critically important. The ability to “look outside the square” and ensure that appropriate risk mitigation processes are in place can assist in making the right choices, but also assist in lessening the bad decisions. Most importantly, a board can assist an organisation prosper in the long term. The Australian Institute of Company Directors remains committed to improving the quality of governance across all sectors of Australian society and has a program of events and courses in 2013 to assist in this goal.

Phil Butler is Manager - NFP, Public Sector & ACT at the Australian Institute of Company Directors. For more information about AICD ‘s course programs and events, T: 02 6248 5954.

B 2 b I n C a n be r r A   J AN / F E B 2 0 13

31


DOCUMENT MANAGEMENT

By Iain Heddle

Making green New Year’s resolutions

We’re all feeling the pressure to reduce our carbon footprint these days and what a better way to start the year than enacting eight simple changes to how staff print and manage documents in your office? 1. Rationalise your office equipment There is no longer a need to buy and run individual printers, photocopiers, scanners and faxes – a multifunctional device (MFD) can do it all for you. By consolidating your office equipment with an MFD you’ll reduce electricity, CO2, consumables, complexity in managing multiple devices and service contracts, floor space and, ultimately reduce your bottom line costs. 2. Print on both sides It’s simple but effective: set ‘duplex’ as your default preference for all your office printers and copiers. By printing on both sides of a sheet you’ll reduce paper usage by as much as 50%. 3. Prevent uncollected printouts Everyone gets annoyed when they see uncollected and forgotten printouts on the office printer and MFD. One way to prevent this is by using a Locked Print feature, either on the device or through additional software. Locked Print means that when a document is sent to print, it is stored on the printer and will not be released for print until it is ‘unlocked’ by a user at the device. 4. Digital documents By implementing document management technology you can eliminate the need of accessing hard copy documents. Instead of reproducing and storing hard copies of documents, you scan, archive, retrieve them and use soft copies to send out. You can significantly reduce costs and time by emailing invoices, statements and letters rather than printing and posting them. 5. Expand your marketing into the digital space Send a digital brochure to your clients or prospects instead of a printed one. This not only reduces your business’s carbon footprint, but it is also a great cost and time saver. 6. Use recycled or sustainable paper Embark on an office policy to only use either recycled paper or paper that is certified as sustainable. There are different certifications available, including the Sustainable Forestry Initiative (SFI), Forest Stewardship Council (FSC) Program for Endorsement of Forest Certification (PEFC) and ISO 14001. 7. Sign-up to free recycling programs There are some manufacturers in the market that offer free programs for both consumable and machine recycling. Be sure to do your research to find the program to best suit your business. 8. Use power save mode Make it a policy in your office to have every office printer on power save mode when it sits idle for 20 minutes. To ensure your office remains efficient keep the quick start-up function on for a quick recovery from energy-saving mode. This still allows users to print and pick up jobs whenever they need to.

Iain Heddle, Branch Manager – ACT 10/161 Gladstone St, Fyshwick T: (02) 6123 1888 E: iheddle@ricoh.com.au

32

J a n / F E B 2 0 13

ESTATE PLANNING

by Stephen Bourke

Going overseas? Don’t forget to pack your estate plan

With the rise in the value of the Aussie Dollar many people are considering taking advantage of the exchange rate and squeezing in some overseas travel. One of your pre-trip preparations should be:

Going on holidays should not be a time when you are worried about whether everything is in order. Attend to it before going away. “REVIEW ESTATE PLAN” Did you know that the risk of dying while travelling overseas averages out to around 1 in 5000? Compare that to the annual chance of dying in a motor accident of 1 in 4000. That statistic also does not include all those people who don’t die but are seriously injured or become seriously ill (and may die after they get back to Australia). The questions you need to ask before you go overseas are: 1. Who will look after my estate if I die? Who should it go to? 2. Who will be able to make decisions for me and look after me if I am unable to? Your will: Your will is an important document and central to your estate plan. It sets out how you want your assets distributed on your death and who is to be your executor. If you do not have a will or it was made at a time when your circumstances were quite different, it is probably time for a review. You may have made a will some time ago, either before children were born or when they were very young. You may have started or ended a relationship. You may have built up your assets over that period. You should review your will to make sure it still represents your testamentary intentions. Your Power of Attorney: An enduring power of attorney is a vital, but often overlooked, element of an estate plan. An enduring power of attorney appoints someone as your decision maker (attorney) in circumstances where you do not have the ability or capacity to make decisions yourself. If you are involved in a terrible accident and find yourself in hospital, there are many decisions that will need to be made. Do bills have to be paid? Do you need an operation? Even the small things need someone to make a decision. Your enduring power of attorney covers these eventualities. Going on holidays should not be a time when you are worried about whether everything is in order. Attend to it before going away. Your time can then be more relaxed and enjoyable.

Certus Law specialises in superannuation, trusts and estate planning. Visit Certus Law at Level 5, 28 University Avenue, T: 6268 9090, www.certuslaw.com.au

B 2 b I n C a n be r r a


HEALTH

By Robbie Manzano

RECRUITMENT

Physical activity for health benefit

Avoiding a sedentary lifestyle is critical to health and wellbeing. Unfortunately, the complexity of adulthood slowly causes exercise to move down our priority list. What if I told you, every time you complete a 30 minute exercise session you gain an extra week of an enhanced life?

"This way of thinking motivates me to make exercise top priority. Every time I go for a run, go to the gym or play some sport, I know it is an investment for the future" R. Manzano The national physical guidelines for Australians illustrates regular exercise is the key for health benefit. This guideline advises that we should exercise at a moderate level for 30 minutes on most days of the week. Think to yourself… Is 30 minutes a day possible with all the deadlines and commitments we have on a day-to-day basis? Let's go back to the last 24 hours let's find that 30 minutes Outside of work hours - How many 30 minute periods did you have which you consider a 'waste of time'? If you did not consider any 30 minute periods a 'waste of time' - is there any strategies you could have implemented to save time? If you write out you’re last hour 24-hours on paper you would be surprised how much time we actually have. Apply one of these strategies so you can include a 30 minute exercise session to each day. • Plan your day before you sleep. Make sure you schedule your 30 minute exercise session first, then organize your day around it. • If you normally get stuck in peak hour traffic - Avoid it! Don’t go home during peak hour traffic, instead go for a 30 minute walk and return to your car later when the traffic has passed. • Arrange to meet a different friend each day of the week for a 30 minute session • On your way to a destination stop at a park, gym or outdoor setting and go for a walk for 30 minutes. Make sure it is planned as you do not want to be late to an appointment • These are personal 4 strategies I use to fit in at least 30 minutes of physical activity in a day.

Robbie Manzano is founder and managing director of Healthy Identity. Robbie has degrees in Human Nutrition and Coaching Science from the University of Canberra and has completed a Graduate Certificate Public Health from Curtin University. robbie.manzano@healthyidentity.com.au 0423 366 014

Staff retention

By Allison Guy-Ritchie

This is a topic that never goes away – it just varies in terms of degrees. Now, more than ever, employers are up against huge competition to retain and motivate their good staff. Losing staff is costly to any organisation; in dollar costs, lost productivity, loss of corporate knowledge and general workplace disruption. Retention strategies are not one off actions – they must be built into the culture and carried through the fabric of the organisation. Gaining loyalty is paramount and the key to this is to understand them; you need to understand the needs and aspirations of your staff and what motivates and inspires them. Cash incentives are mostly commonly thought of as a key retention strategy, however, although this is most definitely a key component, some of the following strategies should also be considered: • Delegate responsibility – entrust your staff to take responsibility – challenge them – you’d be surprised how many of them rise to the challenge. • Provide development and future career opportunities – a career pathway and clear structure is always attractive – this also builds corporate capability and encourages growth and advancement. • Provide mentoring and coaching • Set realistic and achievable goals; reward and celebrate these achievements across your business. • Recognise and appreciate the little things. • Provide variety in duties – maybe even rotate through different aspects of the business. This encourages cross skilling and succession. • Listen – listen to the things that aren’t being said….be a part of your team and place a value on open and honest communication. Provide opportunities to create an environment that is safe and respectful. • Adopt a flexible work environment – create and maintain a culture that supports and assists staff to manage their work life balance and introduce flexible work practices – such as 9 day fortnights or 4 day weeks – having hours spread across the week. Ask your staff what they would consider a flexible work environment. • Create an environment that values healthy lifestyles – a Wellbeing Program – ask your staff if they would value this and how you can best engage them. • Have a formal Award recognition day – formally reward values, productivity, fun etc. Get your staff to participate in the nominations and voting of the winners. • Value relationships and engage your team in setting the corporate and company values. Get their buy in to what are acceptable behaviours and what is not. • Above all – as a leader – you need to set the example. Lead from the front and be a role model.

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A S S O C I AT I O N S T O B U S I N E S S

A2B

ACT companies building business in Asia

T

he recently released ‘Australia in the Asian Century White Paper’ details a roadmap for Australian companies to engage with our near Asian neighbours. Many ACT businesses are working in Asian countries, and are building flourishing companies contributing to a diversified ACT economy. Innovation comes in many different packages. Two ACT companies that are successfully exporting to Asia and building relationships in the region are Bearcage and Octavo Wines. Bearcage specialises in film, television and digital media production for the Australian and international broadcast market. Bearcage has nearly 20 years experience as a production company focusing on high quality documentaries, digital media production and television commercials. Recently it has moved into international markets to grow its business. It has concentrated on emerging markets in China, developing co-production partnerships with experienced producers in Germany, South Africa, and New Zealand. Bearcage recently signed a deal with China Central Television’s CCTV9 Channel to co-produce a six-part documentary series titled ‘The Story of Australia’. The co-production agreement, the first of its kind in Australia, was officially launched at a ceremony in Beijing on October 31st. Bearcage’s successful expansion into the growing Asian market was recognised earlier this month when it was announced it would be a recipient of funding through Screen Australia’s Enterprise Program. Octavo Wines is an ACT Company started by Andrew Ng, who came to Canberra from Hong Kong in 1988 as a business migrant. He has had a number of business ventures in Australia, China and the USA over this time. In 2010, recognising the opportunities in the wine market in China, he teamed up with Graeme Shaw

of Shaw Vineyard Estate in promoting the Shaw brand of wines to China. Andrew Ng said “I saw opportunities in second tier cities in China, those cities with at least one million people, for a different wine, differentiated for this market. In conjunction with Graeme Shaw of Shaw Winery, we developed a wine specifically for this market.” The OCTAVO brand was officially launched by Deputy Minister Andrew Barr in October 2012. This designed wine is showing early signs of success, with OCTAVO Shiraz winning a Bronze Award at the 2012 Cathay Pacific Hong Kong International Wine and Spirit Competition held in Hong Kong. This joint relationship between Shaw Winery and Octavo is an example of two companies cooperating to gain a foot hold in the ever expanding China Wine market. This relationship provides tangible benefits to the ACT in employment, market recognition and potentially flow on tourism. There are a number of upcoming trade missions in 2013. These include: • Trade mission to Indonesia from 20-26 April, 2013, • Proposed Trade Mission to USA in October/ November 2013, • Proposed Trade Missions to India 2013/2014. If you would like to be involved with these missions please contact Ellen Pope, ellen.pope@ canberrabusinesscouncil.com.au or (02) 6247 4199. The ACT Exporters’ Network works with exporters from the Canberra region, to build opportunities in overseas markets. If you require assistance, would like to be involved in our events, or find out more about the Network, please visit our website (www. actexportersnetwork.com.au) or contact Ellen Pope, ellen.pope@canberrabusinesscouncil.com.au or 02) 6247 4199.

ELLEN POPE

EXPORTERS NETWORK MANAGER

For more information on the ACT Exporters’ Network visit actexportersnetwork.com The ACT Exporters’ Network is proudly sponsored by the ACT Government, Canberra Business Council, the Centre for Customs & Excise Studies and AusIndustry.


A2B

MINISTER’S MESSAGE

Centre for exporting Government solutions ANDREW Barr

ACT DEPUTY CHIEF MINISTER TREASURER MINISTER FOR ECONOMIC DEVELOPMENT

I

f you were offered a chance to tap into a market worth a trillion dollars, or gain a foothold in a country of 240 million growing by 6 per cent a year and spending billions on infrastructure and technology, you may think it’s a dodgy get rich quick scheme. But it’s not. The public sector market in the USA is worth about a trillion dollars – gaining only a 0.001 per cent share of this would be worth $10m! And, just to Australia’s north lies Indonesia – a

The Centre will not only help local firms to begin the process of exporting, it will assist current exporters to develop new markets. It will provide training, resources, networking and mentoring to small and medium enterprises to access international markets. rapidly growing country whose government is spending more than $20 billion on infrastructure next year. Exporting to these markets – or indeed any market – isn’t easy, with all manner of logistical, cultural and financial barriers to overcome. This is where the ACT Government’s Global Connect initiative comes in – and in particular our new Centre for Exporting Government Solutions (CEGS). The ACT Government is committed to helping local firms do business overseas. Exporting not only helps individual businesses, it will keep our economy and employment base strong. As I have said on these pages before, it’s important that we focus on our strengths. Given Canberra’s role as the national capital it’s no surprise that our natural advantage – from an economic and business point of view – is in products and services for the public sector. The ACT has developed world-class capability in numerous fields, such as cyber security, defence technology, information and project management, and policy consulting, among many others. What’s particularly heartening is that more and

36

J a n / F E B 2 0 13

B 2 b I n C a n be r r a

more local firms are taking their skills and knowledge to the world. The Chief Minister’s Export Awards are a shining example of the success that our firms are enjoying on the world stage – but these are only the tip of the iceberg. One of the most satisfying parts of my job is meeting local business men and women who are developing innovative products and services for the public sector. I’m constantly impressed, and still a touch surprised at times, at the ingenuity and dedication here in Canberra. The Centre will not only help local firms to begin the process of exporting, it will assist current exporters to develop new markets. It will provide training, resources, networking and mentoring to small and medium enterprises to access international markets. There will also be breakfast talks and webinars. Other resources being developed include market intelligence on overseas opportunities, a database of partner organisations in Australia and abroad, and information on obtaining funding for export development. Global Connect was established as part of the Business Development Strategy to bring together the various trade initiatives supported by the ACT Government. The Centre will be a part of Global Connect, and was built on the success of the Exporting Government Solutions Pilot Program, which was run in partnership with Austrade. In addition, in the second quarter of this year I will be leading a trade mission to Indonesia to look at further strengthening the ties between Indonesia and the ACT. The visit to Indonesia will be aligned to the ACT Government’s response to the Commonwealth Government’s Asian Century White Paper, and our aspirations around developing Canberra as an international education hub. I encourage all local firms who are thinking of exporting, or would like further assistance with their exporting strategy, to get in touch with the Economic Development Directorate: www.business. act.gov.au


A S S O C I AT I O N S T O B U S I N E S S

A2B

Chamber assistance available to you in 2013

T

he ACT & Region Chamber of Commerce & Industry supports all business in the ACT and surrounding region. The Chamber is unique as our membership is extremely diverse. Our members range in size from nonemployers to national organisations and we have members from all industries. Canberra is a fantastic community, and we offer our members the same sense of community. The Chamber’s expert staff enables us to deliver an extensive and professional range of services to our members. Greg and Scott provide business specific services for employers including a Workplace Relations Hotline for information on wages, award matters and access to member’s rates on services such as Workplace agreements, termination, redundancy procedures, occupational health and safety and workers compensation. In addition, we can represent your business in the Fair Work Australia Commission on claims such as unfair dismissal. The team conduct regular workshops providing information to employers and representatives on a number of topics including Bullying & Harassment and Managing & Training your Customer Service Team. As of 1 January 2012, the ACT Government now requires contractors to possess an Industrial Relations and Employment Obligations Certificate (IRE Certificate) in order to be eligible to bid for, participate in, or work on an ACT Government building project. The ACT & Region Chamber of Commerce & Industry has been authorised to assess applications by contractors wishing to obtain an IRE Certificate. Greg and Scott are available for further information. The varied networking events offered at the Chamber aid in building strong professional relationships, and provide you with an environment in which you can discuss concerns and issues with likeminded people. These events also provide an opportunity to share your achievements and keep up to date with what is going on in your business community. The Young Business Network, Women in Business and Business after Business events provide opportunity not only for employers but for employees also. The Women in Business series is the’ Premier Business Community for Women in

Canberra’. This series in 2013 will provided fantastic networking opportunities as well as a professional development aspect. Sam and Sarah are available should you have any enquiries regarding marketing, events and communications. Further staff training and development is not only of benefit to employees, it is of benefit to your business. This has shown to be useful in retaining valuable staff; you are willing to financially invest in them and in return they remain loyal, hard working and happy in their roles. Our Employment, Education and Training team offer a vast range of opportunities for your business. Jo Powell provides information and advice on nationally recognised vocational qualifications for your staff and any other education and training issues. The Ready team seeks and establishes sustainable partnerships between education and training providers, business and industry, parents and family and community groups. Trevar, Beth and Jo develop effective programs that support young people so that they remain engaged or re-engage in education or training and realize their full social and economic potential. The Chamber continues to lobby business views to government on legislation in a wide range of areas including work cover, education, employment, planning, skills shortages, parking and other policy issues. The Chamber works closely with political leaders and Government to create positive outcomes for business. Staff members sit on a variety of committees and advisory bodies such as the Educational Ministerial Round table, ACT Worksafety Council, Red Tape Reduction Panel, the ACT Taxation Review Roundtable and Australian Chamber of Commerce & Industry Workplace Policy Committee. I am extremely proud to work for the Chamber and I am rewarded daily knowing that we are making a difference by helping businesses to achieve their goals. I am focused on providing members a key point of contact and I am always available to assist with any enquiries. If you would like further information with regard to Chamber services and membership, please contact Jo Madsen, Business Development Manager on (02) 6283 5232 or jo.madsen@actchamber.com.au

JO MaDSEn

BUSINESS DEVELOPMENT MANAGER ACT & REGION CHAMBER OF COMMERCE & INDUSTRY

Corporate Sponsors ActewAGL Canberra Times Duesburys Nexia TransACT Westpac B2B Associates and Affiliates Retail Traders Association, Australian Industry Defence Network Foundation Member Australian Chamber of Commerce & Industry

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P rO P ErT Y YOUR MONTHLY LOOK AT PROPERTIES AND PROPERTY RELATED INDUSTRIES IN THE ACT

LEADING THE WAY IN EXECUTIVE APARTMENTS Peter Moloney from Accommodate Canberra shows how

A BETTER PROPERTY EXPERIENCE Quality residential property management from Canberra Rentals

SHOULD THE GOVERNMENT BANK WITH THE COMMUNITY BANK? Jayson Hinder from Bendigo Bank has the answer


B2B PROPERTY

Should the government bank with the Community Bank?

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endigo Community Bank will put back 80% or more of it’s profits into community services, groups, charities and events - profits derived directly from the level of funds in bank accounts with the Community Bank. So why doesn’t Government, and every government agency, invest some of their funds on term deposit with Canberra’s Community Bank Branches of Bendigo Bank? Understandably there is a tender process to do the government’s banking, and no doubt that contract sits with one of the big 4 banks currently. But not all of government’s revenue is part of that arrangement. What about Federal Grants Funding and other federal money earmarked for projects to be administered by the States and Territories? Why wouldn’t the ACT government invest some of those funds with the only locally owned bank in Canberra? The local Community Bank is unapologetically parochial in it’s endeavours to spend our money locally and to invest our profits in local groups that help local people. We hire local people, we buy our goods and services locally where possible, and our shareholders are almost all locals The Molonglo Community Bank Group has four branches locally at Calwell, Curtin, Jerrabomberra and Wanniassa. Each Branch has a Manager who runs the Branch and

makes the decisions. Advice is available everyday with no obligations. In return we hope locals will support our branches by banking with us. Because we have done a good job of helping customers since 2002, this year we will be able to contribute our one millionth dollar from profits back to community groups and projects. The Community Bank® model provide communities with more than just quality banking services – they deliver employment opportunities for local people, keep local capital in the community, are a local investment option for shareholders and provide a source of revenue for important community projects determined by the local community. Canberra is a diverse community but ultimately we are a community that cares about our fellow citizens. We can always do more and although an increase of a thousand houses in the last 11 years is something to be proud of the waiting lists are still not as short as we would like. One of the difficulties of Government is achieving balance between competing needs and sometimes demands. The latest changes to the tax laws, despite some of the fear mongering, mean that for people entering the housing market, costs are reduced and that ultimately the burden is shared. Personally I doubt that in the future

the traditional sources of Government revenue will be sufficient and I look forward to a time when we can generate greater community income from innovative practices in business, education and industry so that general services become more affordable through strategies designed to increase our sustainability profile. Governments around the country could partner with Community focused and proven philanthropic corporate like the Bendigo Community Banks to create community assets in the community without having to tax to pay for it. The Partnership announced in September by Minister Burch, between Canberra’s Bendigo Community Bank Branches, West Belconnen Health Co-Op and the ACT Government to deliver a Bulk Billing Health Co-Op in Chisholm early next year is an example of just such collaboration. We can also build on the domestic and export value of our marvelous tertiary education facilities and create employment opportunities and export potential through greener jobs in a carbon neutral and sustainable economy. I do believe in dreaming big, but that can only become reality when combined with working hard. The future of Canberra has never looked brighter.

Jayson Hinder is Chairman of Molonglo Financial Services MFS operate the Calwell, Curtin, Jerrabomberra and Wanniassa Bendigo Community Bank Branches. Calwell, Curtin, Jerrabomberra and Wanniassa Community Bank Branches


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B2B PROPERTY

Accommodate Canberra By Tim Benson

leading the way in executive apartments Peter Maloney, successful local businessman and owner of Maloney’s Real Estate, launched Accommodate Canberra four years ago, after seeing a similar model in Melbourne.

Peter Maloney, Owner, Maloney’s Real Estate and Angela Csaszar, General Manager, Accommodate Canberra


B2B PROPERTY

A

s a landscaper on New Parliament House in 1987 Peter decided to go into real estate. Peter worked for Realty World for the next nine years and after three years he became a sales manager. In 1996 Peter bought a Realty World franchise and in 1998 renamed it to Maloney’s Real Estate. “We initially focused on property management. We started with 80 properties and now we manage 1200,” Peter said. Peter launched, Accommodate Canberra four years ago, after seeing a similar model in Melbourne. “I am very pleased with the growth of Accommodate Canberra to an offering of over 90 executive apartments in four years,” Peter said. Accommodate Canberra manages a portfolio of executive one, two and three bedroom apartments on behalf of their investors. With over 90 apartments in Canberra City, Acton, Turner, Glebe Park, Kingston, Barton, Deakin, Forrest and Phillip, you can experience luxury, sophisticated elegance and high class living at affordable prices. “All apartments are in central desired locations in commercial or social precincts. We offer luxuriously appointed and fully furnished, elegant, serviced executive apartment accommodation in Canberra’s most prestigious and sought after residential complexes,” Peter said. “The benefits for property owners and investors are that they can generate almost double the return they would receive from a normal rental,” Peter said. Peter says that an average one-bedroom apartment will rent for approximately $550 per week in contrast to approximately $1050 per week through Accommodate Canberra. A weekly housekeeping service is included in the nightly rate as well as security car parking, leisure facilities and the complete cost of the apartment’s utilities.

“Corporates are saying instead of putting people into other 5 star hotels, we can put them in serviced apartments. Once you have stayed in an executive serviced apartment you won’t want to go back to a hotel,” Peter said. Angela Csaszar, Accommodate Canberra’s General Manager, started with Maloney’s Real Estate in 2006 and then moved to Sydney in 2009 to work for a reputable Sydney real estate. Angela came back to Canberra to manage Accommodate Canberra in 2011. The Accommodate Canberra team also consists of Hayley Wood, who has experience in the hotel and hospitality industry and exemplary customer service skills. A new member to the team this year is Larissa Platt, who has extensive Government and Embassy knowledge. “My goals for Accommodate Canberra are to continually sustain and look after our clients and properties and build relationships with new corporate clientele” Angela said. Accommodate Canberra has undertaken a concentrated marketing campaign that has included networking and marketing to local businesses, government departments and embassies, and keeping regular contact with clients. Angela says that the market for executive apartments is quite strong, with the majority being regular clientele. “The majority of our regular clients come from a vast area of industries as they draw on a lot of resources from outside Canberra,” Angela explained. A new initiative for Accommodate Canberra is the capacity to book for one night in addition to the normal five-night stay. “We are please now to be able to offer one night stays, starting from $200 per night, at the Griffin Apartments,” Angela said. So why use Accommodate Canberra and not stay in a hotel? “Our properties are convenient. We provide excellent service. We have quality properties and furnishings. You benefit from

a 5 star style accommodation but with a home-style feel – basically our properties are comfortable and affordable,” Angela said. Accommodate Canberra’s executive apartments are booked for and by: • Consultants • Corporates • Tourists • Group bookings • Accommodation tenders • Tours • Conferences • Employers • Sporting tournaments • Concerts • Family groups “Talk to us before you commit to your usual arrangements – you never know, you might find our products to be more suited to your needs,” Angela said. Another innovation coming in 2013 will be the capacity to book online. Peter says that Canberra is fairing quite well in the current economic climate. “Compared to other states Canberra is doing quite well. Rental returns are good and there are some well-priced established units. Interest rates are also good where you can lock them in. There are plenty of ‘smart investors’ coming into the market,” Peter said Accommodate Canberra is a business that has seen a market in Canberra and tailored their services to meet an unmet demand. This combined with excellent service, high quality accommodation and great use of modern technology; Accommodate Canberra is set to innovate and grow in 2013. Ph 02 6295 9430 enquiry@accommodatecanberra.com.au accommodatecanberra.com.au

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B2B PROPERTY

DOES YOUR MARKET PRICE MAKE SENSE? TIME TO BE REALISTIC!

Jason Klose, Managing Director t: 0414 890 286 jason@bbbrokers.com.au www.bbbrokers.com.au After you have made the hard decision and decided to sell your business, the next step is to understand what a fair market price is for your business. This is the time to be realistic about what a buyer will pay for your business. To determine a realistic market price you must take all of the following into consideration: • Assets of the business and their condition • Profitability of the business going forward • Risk to generating the profit • Potential for the business going forward • Owner’s involvement • Barriers to entry • Current market conditions • Other All of the above impact the market price you place on your business. Each of the above can be discussed in greater detail. To get started, lets discuss assets of the business and their condition. If you have a business which has significant assets like equipment for manufacturing, fit-out of supermarket, cafe or restaurant or a fleet of vehicles, these assets will form part of your market price for your business- without them your business cannot operate.

5 DAY CAFE UNDER FULL MANAGEMENT 70KG COFFEE A WEEK Once a year these cafes come to the market and it is kind of cafe any owner dreams of having. 70kg of coffee a week | 5 days | Secure lease run under full management from day 1 | Fit out like new Walk in and make serious money

But you need to be realistic about the asset sale prices. The depreciated value in your financials may help with the value, but not always. You need to understand your assets are used and have a finite life. If I am a business buyer, I am looking at your repairs cost and if they are becoming regular and significant, the assets may have little value. Lets consider two examples - a manufacturing business and a cafe. Manufacturing Business A strong manufacturing business wants to sell and if you tried to replace the current equipment with new equipment, it would cost you over $1m. However the current business equipment is over 10 years old but still in really good condition. Has been fully depreciated. So what is it worth? On the open market sold, without the business, it has little value due to its age. However with the buyers looking at this business, they will be considering when the equipment needs to be replaced. If this equipment has a 20 year life span than it still retains some value, but if it needs to be replaced in less than 5 years, the buyer knows that in the next few years they will need to outlay $1m to purchase new equipment, dispose of the old equipment and allow for downtime for this to occur. Cafe Brand new fit out, 2 years old and situated in a location with high traffic and captive audience. If the business is strong the fit out will not be worth its new price but it may not be worth half its price either. You will notice the business needs to be strong to justify the fit out cost. If the business is not successful, it does not matter if you spent $1m on the fit out, it has little value unless a successful business can be established. For further information on business sales and equipment, further details can be found on our blog at http://www.bbbrokers.com.au/blog/

CIVIC COCKTAIL BAR This Civic Cocktail Bar has been operated by the current owners for 8 years and continues to be a strong performer. Specialises in cocktails and complements it with beers and wines. Very easy and profitable business to the current owners.

2012 turnover $630,000 Owners return working in the business $265,000 $230,000 + SAV

$600,000 + SAV

STRONG MOTOR MECHANIC BUSINESS FOR 32 YEARS

DIAL AN ANGEL - CANBERRA EXCLUSIVE FRANCHISE TERRITORY

This business is always booked out in advance and has a very strong database of over 11,000. The current owners are selling as it is time for retirement.

DIaL-an-anGEL is the leading provider of home and family care in australia. This business was first started in 1967 and has exclusive franchise territories around australia in addition to company owned operations. DIaL-an-anGEL Canberra is a company owned operation and is run under full management business which is now ready to be franchised.

Excellent quality work shop equipment. Only one other mechanic in the area and no space for competitors to set up. Large workshop area with 5 bays all the necessary equipment to most mechanical repairs.

$365,000 + SAV

Business $125,000 and Licence fee $50,000 + GST

Contact Jason Klose on 0414 890 286 for more information or visit www.bbbrokers.com.au


B2B Half Page_Layout 1 24/04/12 9:12 AM Page 1

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Being employed by a large company or government department now has its strong points… • Preferential corporate pricing* • Purchase the car of your dreams • FREE scheduled servicing for up to 3 years**

Take advantage of preferential pricing on new vehicles and options and complimentary servicing for up to 3 years… Plus guaranteed future value when you upgrade…

Call us today to see if you qualify…you most likely do… Phone 6175 5500 38 Collie Street Fyshwick - mbcanberra.com.au *Preferential pricing may not be applicable to all models.


B2B in Canberra January/February 2013