In This b2b: Greener Grass Over the Fence
Email and Tinned Meat?
Craigs Design and Print open a new service - right next door
BUSInESS 2 BUSInESS Edition 2, 2012
Focus Technology with advice on dealing with spam
Growing a Business in Tough Times
Meet a Southland company who have doubled in size...
COME FLY WITH US Air New Zealand Holidays talk about business partnering
EYES WIdE OpEn Damien Pine of AWS Legal looks at Real Estate Commissions
Chamber of Commerce Southland Business Centre Corner Leven and Esk Streets P.O. Box 856, Invercargill
Phone: 03 218 7188 Fax: 03 218 7927 Email: email@example.com Web: www.commercesouth.com
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fit & SEMINARS APRIL 2012
this be taken out when forming strategy for the 2012 budget?
Richard Hay CEO, Southland Chamber Of Commerce
2012 Budget should focus squarely on growing exports. The Minister of Finance has announced that Budget 2012 will be delivered on 24 May 2012. Comments on the budget policy statement reveal the number one priority for the next three years is getting back to surplus. The PM maintains that NZ Inc. is still on track to be in surplus by 2014-2015 although he says it will be a smaller surplus, the predicted $1.5 billion now re-adjusted to $3.7 million … mmm, bit of a difference there John! The return to surplus must rightly be a priority and there must be robust strategies around both internal and external spend both by Government and the private sector coupled with selling our goods to export to balance those books. National savings seems to be improving which is helping somewhat to borrowing a little less off shore and the Government is sure whipping the cat in reducing government spending and restructuring. There is a strong reliance that the Christchurch rebuild is going to bring in a lot of offshore insurance money which will assist by adding an estimated one and a quarter percentage points to our GDP for the next five years, a big chunk of the three percent growth that’s expected. I wonder where we would get this amount of financial stimulus into the economy from if the earthquake had not happened, so should
The second priority is to increase the competitiveness of our economy. It is encouraging to see that, unlike last year’s strategy, this has taken on a priority status. We need some extended focus squarely on growing export values and volumes in new areas. Not an easy task when it appears the NZD is going to stay relatively high and in the 80 cent plus range. Until we shift our national economic focus on to programmes to diversify and grow the economy – make the pie bigger – New Zealand’s businesses, exporting and growth record of recent decades will continue to stutter along, with the result that the economy as a whole will continue to struggle even as the world moves out of recession. Statistics show that less than three percent of New Zealand’s businesses are regular exporters. Just three percent, even though business is the engine room of the New Zealand economy, the overwhelming majority – around 95 percent – turnover less than $5 million a year and fewer than 13,000 are involved in exporting.
Introduction to Employment Law Category: Employment Law & Human Resources 17 April | 1.00am – 4.30pm Accident/Incident Investigation Category: Health & Safety 30 April | 9.00am – 1.00pm MAY 2012 Bullying in the Workplace Category: Employment Law & Human Resources 07 May | 1.00pm – 4.30pm Assertiveness Skills Training Category: Personal Development & Communication 08 May | 9.00am – 12.30pm Health & Safety Responsibilities for Managers Category: Health & Safety 22 May | 9.00am – 1.00pm Health & Safety Representative Training - Stage 2 Category: Health & Safety 23-24 May | 8.30am – 4.30pm For more information and costs of these courses contact the Southland Chamber of Commerce. 03 218 7188 www.commercesouth.com > Training
Fonterra provides 25 percent of New Zealand's exports; around 390 other businesses account for a further 60 percent of New Zealand's exports and the remaining 15 percent is shared between around 12,500 companies, with most exporting less than $50,000 worth each year.
It is obvious the targets of the past are wrong. They simply do not connect with businesses or motivate New Zealanders generally. Continued on page 14
This is the fragile picture, despite an Export Year campaign a couple of years ago, and despite targets for growth such as getting New Zealand back into the top half of the OECD or economic parity with Australia by 2025.
What's on the horizon? Wednesday 4th april Optimise the profit in your business Wednesday 2nd May Payroll - Creating a better understanding & keeping up with legislation Wednesday 6th June Investments 101 - One day I intend to have cash, how will I make it work for me?
Wednesday 4th July Creating great systems & procedures for effective running of your business Wednesday 1st august Life on a Cloud - Cloud business solutions Wednesday 5th september Safety in the workplace & reducing ACC levies
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Reserve your space now for the topics that will benefit you and your business
PROVIdERS Of ACCOuNTINg SOfTWARE At AccountAbility we are experienced in assisting businesses throughout the Central Otago and Southland regions to get the most from their accounting software. We pride ourselves on providing specifically tailored business solutions to a wide range of clients across many different industries. We can work with you to reach an effective and workable business solution, tailored to the needs of your business. We sell and support a wide variety of software packages, including:
Quickbooks – accounting package MYOB – accounting package Xero – online accounting package and cashbook
Ostendo – advanced inventory, service, manufacturing, engineering and assembly package CashManager Rural and Acclaim Cashbook Complete – cashbooks While the majority of businesses already have an accounting package, we have found time and time again that it is not used to its full potential
due to a lack of software knowledge and confidence in the information generated. Over the past years AccountAbility have been working closely with our clients to achieve an effective accounting software solution, implement efficient business processes, end of month checks and reconciliations, customise form templates and reports to read, understand and trust the information produced to make better business decisions. Are you frustrated with the information you are getting from your accounting software? Are you … Producing reports you do not trust or understand? Missing out on repeat service work? Experiencing late payments because the customer invoice was not generated on time? Finding projects and jobs are over cost and late? Missing out on sales? Wanting to increase your customer base but don’t know how? Experiencing lost revenue by not getting accurate stock sales reports? What is my average transaction value?
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What stock has not turned over in the past 12 months? What is my sales margin? Double handling, with time consuming entry work? Do you know what each staff member is costing you and what their revenue output should be? AccountAbility will work with your business to achieve better operational systems, free up staff to focus on higher return activities, profitable work and the real business goals. Call our team today for expert advice on getting the most from your accounting software.
Karen Skerrett Manager – AccountAbility Software Limited 0800 927 394 or firstname.lastname@example.org
THE HSBC SOuTHLANd ExPORT TRuST gRANTS OPEN fOR 2012 With applications for the HSBC Southland Export Trust grants now open, the trustees are looking forward to another round of candidates to consider. Any Southland firm involved in exporting is welcome to apply. Winners will receive a grant to help towards activities which will enhance the skills, employment, development and wellbeing of the Southland region through the activities of exporting produce or service. This can include training, promotion, development and research in the export sector.
If you would like more information on the grants process, application and information forms are available on the Southland Chamber of Commerce website at www.commercesouth.com. Look under the ‘b-global’ tab from the homepage. After the highly successful awards dinner in 2010 hosted by entertainer Jackie Clarke, it is almost guaranteed that this year's function will sell out, so keep an eye open for details about this towards showtime in September.
guests enjoying the last Export Trust grants dinner in 2010
In the last awards round in 2010, local companies Essential Resources and Blue River Dairy were recipients of grants to help develop overseas markets. It has been very gratifying for the organisers to see the grants have tangible benefits for the recipients and they now look forward to seeing the applications for 2012.
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CATCHINg OPPORTuNITY Laura Bellomy has 25 years experience in business coaching, sales and marketing, communications and presentation training and development for a variety of clients and industries. In this piece, Laura looks at the dynamics of the workplace through an unlikely but accurate example. I'm addicted to the TV show Deadliest Catch and hadn't thought about why until I was explaining my fascination to friends recently. The programme is as far away from my reality – or so I thought. It centres around the crab fishing industry on the Bering Sea and the men who risk their lives there every season. As I pondered my fascination it came to me, this show is one of the best leadership models out there. The leadership hierarchy on Deadliest Catch is simple. There is a very clear leader; the captain, and the crew take direction from this leader only. Here's why the model works so well. 1. Everyone knows the strategic plan and the ultimate objective – to find crab and making money. 2. The captain is responsible for determining
the ‘strategic direction’ for the season – where to set the pots. His plan can make or break the season (and the paycheck) and at times he may have to rethink his strategy and change course when the pots come up empty. The good ones (and they're all good in this industry or they don't last) know how to ask for advice or do some additional research/ planning when they hit a snag.
allows the crew appropriate downtime. Harmless practical jokes can abound, but then it's back to business when necessary.
3. Everyone functions as part of the team. Roles, responsibilities and expectations are clear at all times and everyone has a specific purpose on the team.
9. In an emergency, they all stop what they are doing to help out another boat. The sense of brotherhood in the industry is tremendous and above all, they keep a clear head in an emergency – everyone knows the drill!
4. Cross training occurs when a crew member shows an interest in learning something new. There is enough depth in the organisation to be able to function in an emergency, but not so much that anyone stands around just watching, waiting, or ‘supervising’. 5. A less-experienced ‘greenhorn’ is trained by the experienced crew. If they don't cut it, they don't come back. No one is carried; this is a lean, efficient organisation. The greenhorns know going in that nothing about this job will be easy, and they're still willing to sign up. 6. This is the epitome of risk management and the high risk, high reward model. Personal risk is tremendous on a crab boat but the reward can be equally tremendous. These men can make in 3-4 weeks what some people make in a year. 7. When not under deadline pressure of pulling crab pots and sorting crab, the captain
8. The captain knows that from time-totime it is necessary to come down from the wheelhouse and work alongside the men. It reinforces his credibility, allows him to bond with his crew and earns a mutual respect.
10. They all have to do things they don't like from time to time. For example, some days they can spend hours knocking off ice to prevent the boat from capsizing or sinking before they even begin to pull pots. They'll then have to work many more hours on top of that to haul the crab. 11. They take their breaks when they can, not just when they want to. ‘Refueling’ opportunities (meals, naps, cigarette breaks) may be limited if the pots are full, but the meals are hot and hearty and the coffee is strong to keep them going! A good captain knows how to take care of his crew. 12. The metrics are in place and monitored by everyone. They know how many crab are in each pot, how many are in the tanks, how many pounds they are expected to catch, and where they are in relation to their goal at all times. 13. Everyone shares in the payout and they know up front what the potential is. The captain gets the most (it's his boat, his initial investment of fuel, food, bait, etc), the regular crew gets their percentage share, and the greenhorns get a half-share since they're inexperienced. It's very clear and no one argues about it or talks about entitlement. When was the last time you saw this kind of clear leadership, structure, strategic vision and collective profit sharing in an organisation? If you have seen it, consider yourself fortunate and sign me up! This kind of clear leadership with strategic focus and collective payback is the stuff of dreams for employers, employees and shareholders. More of Laura’s articles are available at www.bestmanagementarticles.com
SPAM NOT JuST TINNEd MEAT Every day there are an estimated 294 billion emails sent around the world, and it is said that 183 billion of these are thought to be spam. That’s more than half. So what do you do when you receive and email, from a supposedly legitimate company or organisation – asking you for critical personal information such as your bank and credit card information? 99.99% of the time any email asking you for bank and credit card information is going to have been sent to you with malicious intent. The IRD sending you an email to say you have a tax refund and prompting you to a website to enter all your details to access the refund?? Yeah right! SPAM. Your bank, asking you to confirm your username and password to access their site otherwise they will delete your account?? Yeah right! SPAM. An international courier, emailing you to say there is a parcel waiting for you and sending you a link to down load a file and install something?? Yeah right! SPAM. Now more than ever the tools for spammers to replicate websites are more readily available, it no longer takes a technical wizz to put together a website complete with key logging software. This means that went you click to accept your ‘refund’ (or whatever else is on offer), every key you press is recorded; releasing your information.
Understand that organisations that you are a client/ member of will already have your personal information – otherwise how do you do business with them? The bank already knows your bank account number and credit card number – they gave it to you – ask yourself why do you need to tell them what it is? Many of us think to ourselves ‘I’d never fall for that’, but the next email you get may come from someone that you supposedly ‘trust’. Quite simply, a reputable organisation will not ask you for your bank and credit card details via email. Even if the email looks legitimate, think about whether or not you would expect that organisation would be asking you for this information? If you already know you aren’t getting a tax refund – then you really aren’t getting a tax refund. Your best defence is to DELETE DELETE DELETE. Do not click ‘go’, you will not be getting $200.00. And if you are still in doubt pick up the phone and ring the organisation that has sent you the email and ask them for clarification and advice.
WE’LL TAKE CARE OF YOUR TECHNOLOGY. So you can get on with running your business.
If you are still unsure, contact your IT provider.
AUDIT • TAX • ADVISORY
FOUR REASONS TO CONTACT BDO � � � �
BDO Invercargill Lexicon House, 123 Spey Street T: 03 218 2959. E: firstname.lastname@example.org W: www.bdo.co.nz
Dave Mitchell Greg Thomas Diane Thornbury Tim Ward
leave it to us P: 03 211 0099 W: www.focus.net.nz A: 176 Spey Street, Invercargill
KNOW THY CuSTOMER Anyone who was ever successful in business will tell you that your first and most important consideration is your customer. In the second of this series, McIntyre Dick and Partners Ltd present the results of a comprehensive survey of typical 'middle' New Zealand SMEs carried out late in 2011. Copies of the GrowthGuide Publication are available at no charge from McIntyre Dick and Partners on Spey St, Invercargill. Companies with a deep and up to date understanding of their customers tend to be more price competitive, invest more in R&D and clever marketing and enjoy more effective product launches. Even better, they tend to perform strongly when it comes to increasing sales to current customers and winning new customers. A massive 91 percent of businesses in a survey carried out midway through 2011 recognised understanding their customers needs as very important, or extremely important to their business success.
A Lesson: Just because you’ve been around a while – don’t take it for granted that you know your customers well.
Importance Vs Business Performance 91%
Having a deep understanding of our customers needs
Gaining new customers
Providing on-going service and support
Creating a clear point of difference or competitive advantage
Gaining more sales from existing customers
Improving existing products or services
Having good relationships with suppliers and distributors Reducing costs
64% 69% 68% 38% 67%
Ensuring we have a price competitive offer
Ability to respond to competitor activity Staff training and development
“If you acknowledge that you’ll never catch up by being the same, make a list of ways you can catch up by being different Seth Goddin.”
Communicating our company offer consistantly
Effective use of advertising and promotional spend
a cluttered market against stiff competition. Your potential customers are being constantly bombarded with offers and information. If you know your customer and their need best however, you are in a position to make the most of the points of difference they value.
43% 63% 30% 56% 25%
Performance (Excellent/Very Good)
Only 22% of businesses rated themselves excellent at understanding their customer needs
Consider that response against how many businesses actually believe they do the task well. Less than a quarter (only 22 percent) responded that they do an excellent job of understanding their customers. Worryingly, the older a company gets, the less likely it is to make this a priority, effectively opening the door to hungry startups looking to grab market share. So, what are you known for – what’s your point of difference? Why is that customer knowledge so vital? Consider the landscape – you are operating in
YOUR BUSINESS ADVISORS
Close to 80 percent of businesses agree that differentiation is highly important in terms of driving performance - yet a mere 14 percent say they do an excellent job of it. Thankfully, nearly two-thirds of businesses surveyed are planning on ramping up their efforts at differentiation in the year ahead. You don’t have to think too hard to imagine the payoff from that. Knowing precisely what your customers want and where, when and how they want it. It is going to be a recipe for better performance than competing in the dark, surely?
Ask yourself - What will happen if your competitors understand your customers better than you? While every effort is made at the time of publication to ensure the information contained here is correct, we urge you to not rely on this information or part thereof in making any business decisions without seeking further consultation from appropriate sources. The information relayed here is intended as a guide and MDP or B2B Magazine will not accept any liability for any loss or damages that may arise by failure to heed this disclaimer.
Our partners will provide your business with straightforward answers and a clear direction to grow your business to its full potential.
Speak to one of our Business Advisors now for a better business vision Chartered Accountants and Business Advisors
Phone 0800 10 30 10 www.mdp.co.nz
McIntyre Dick & Partners Limited - Business Expertise
LISTINg AuTHORITIES ANd YOuR OBLIgATION TO PAY COMMISSION It is important to read the terms of the listing authority so you know how long you are appointing an agent for, especially if it is a sole listing, and when the listing comes to an end. It is also important to know when you have to pay the agent a commission.
A sole agency agreement usually requires the seller to pay a commission if the property sells during the term of the sole agency, even if the agent did not introduce the buyer to the property. It is therefore important to add an exclusion in the listing authority if you have already been in negotiations with a potential purchaser, so that if that person ends up buying the property you do not have to pay commission. Under a general agency, you usually only have to pay the agent commission if that agent introduces the buyer. It is more complicated when a seller lists the property with more than one agent, or if he or she terminates the listing with one agent and then re-lists the property with a different agent. It is quite possible that a seller may have to pay both agents commission if the buyer was initially introduced to the property by the first agent before the listing was terminated, but then buyer makes an offer to purchase through the second agent, or directly to the seller. Another trap for young players is that commission is generally calculated on the total purchase price shown on the Agreement for Sale and Purchase. For business sales, the purchase price shown on the Agreement for Sale and Purchase often includes an estimated stock-in-
DDI: +64 3 214 5423 Mobile +64 21 234 456 Email email@example.com
trade amount. Although the actual value of stock-in-trade may be less than that stated in the Agreement for Sale and Purchase, commission will be calculated on the higher purchase price in the Agreement for Sale and Purchase. The vendor may receive less in the hand than was initially anticipated. An agent is not entitled to any commission unless there is a signed listing agreement in place. That is why agents are reluctant to show potential buyers through a property before a listing agreement is signed. As long as there is a written appointment, the courts have said that an agent is entitled to commission (provided the agent has been appointed in writing) if the agent introduces the purchaser to the property and it is an effective cause of sale – the agent does not have to be the effective cause of sale. The Court said the question to be asked is;
151 Spey Street, PO Box 1207 Invercargill 9840 New Zealand Telephone +64 3 211 1370 Fax +64 3 214 4122 Freephone 0800 100 151 Website: www.awslegal.com
negotiations the effective, but not the only or exclusive cause of the transaction that ultimately resulted?” This can be summarised in a simple question – did the agent find the buyer? If the answer is yes, this means that the agent will likely be seen as an “effective cause” of the sale. Please remember, this information is provided as a guide only and should not replace the advice of your legal professional.
We welcome your comments: firstname.lastname@example.org
“Was the action of the agent in introducing the purchaser and conducting the inconclusive
Local, just like you We’ve launched a brand new face-to-face service created for local businesses in Southland. Our job is to get to know your business inside out and recommend the right landline and calling plans, broadband and mobile solutions to keep your business connected and give you the competitive advantage. And what’s more our advice to you is FREE.
business hub Southland
Find out more 0800 784 482 email@example.com
3-0 02345 BUS Biz Hub Southland Chamber of Commerce Ad 210x99.indd 1
17/08/11 2:30 PM
SECRET TO SuCCESS While many businesses are still feeling the pinch of the global financial crisis, having to tighten their belts or even restructure, one Southland company has doubled in size to meet demand. Ricoh Southland has grown from a small office of three and a part time role just 12 months ago to now comprise of six full time employees, busy supplying, servicing, maintaining and administrating school and commercial photocopiers around Southland. Managing Director Reece McDonald believes the growth within Ricoh Southland, also known as Southland Copier Company, is testament to hard work put in during the early years. “We worked really hard initially on our processes and business systems to work out how things could be done smarter, and we still do. Now nearly five years down the track I’m pleased to see the hard work rewarded with growth over the last year. Not a single staff member has ever left us, I don’t think many businesses can say that.” Mr McDonald also credits the expansion of his company, which is the only locally owned and operated photocopier/printer supplier in Southland, to his loyal clients and is proud to
The growing Ricoh Southland team. From top left to right: Reece McDonald - Managing Driector, Alan Fleming - Senior Engineer, Marcus Sargent - Engineer, Sheree Quinn - Admin/Doer of everything, Quinton Sharp - Account Manager, Clayton Downey - Senior Engineer
have built a reputation Southlanders respect and trust.
outstanding service and team morale are other key factors for their success.
“We build great business relationships all over Southland, from Te Anau to Bluff, our clients always give us positive feedback. They like on our commitment to the environment and our community, our professionalism and our reliability, and that’s what we are all about.”
“Southlanders love supporting local business and our biggest draw card is service on the spot. We don’t have a call centre in Auckland, if you ring you can talk directly to the owner, that’s what people in Southland love. We’ve also got a good team spirit, which sounds cheesy I know but we just all get along, it’s a fun place to work,” he said.
Account Manager Quinton Sharp joined Ricoh Southland almost one year ago and believes
WE’RE RIGHT IN THE THICK OF THINGS
Mr Sharp finds his clients are embracing the constantly changing technology and are genuinely proud to support a business with environmentally friendly practices. “That’s a big feather in our cap, we are the only CarbonZero certified business in Southland, so we are all about the environment. So scanning and email rather than printing, and if a fax comes in it goes to email rather than being printed. This means every company involved with us feels like they are doing their little bit as well.” In July, Ricoh Southland are set to commemorate their fifth birthday with entertaining celebrations and giving back to the clients that have joined them on their journey so far.
Our experts are based right here in Southland, so we can be there when you need us – wherever that may be! Call Southland’s only local photocopier and printer specialist: Phone: (03) 211 0968 Email: firstname.lastname@example.org
178 Spey Street Invercargill Phone 03 211 0968 Fax 03 218 7675 email@example.com
BuILdINg BETTER PARTNERSHIPS - A BETTER WAY TO TRAVEL Most people don't have the time or patience to spend all day fine tuning their travel arrangements. Some of us may sneak a look online for discounted flights occasionally, but for most of us, that is where our expertise starts and finishes! For the team at the Air New Zealand Holidays Store however, every day is a getaway. Air New Zealand Holidays are moving into a new phase of service for local business and corporate customers, which Air New Zealand Holidays' new Invercargill manager, Kate McMillan sees as an exciting time for them. “We’ve always known we are great when it comes to leisure travel and of course some of the larger sporting and club travel arrangements. The area we are really keen to develop and fine tune in Southland right now is the business travellers wish list,” Kate said. This new venture has also meant some subtle changes within the Air New Zealand Holidays office in order to offer the best service. “We are making sure business based clients will always deal with the same person here, whenever possible. Our clients already know the benefits that can come from forming a close partnership with say, their accountant or their bank manager”. In fine tuning this area of the operation, Air New Zealand Holidays is perfectly placed to source the best value arrangements for their business travellers.
Air New Zealand Manager Kate McMillan
“Especially when we work closely enough and we get to know their travel patterns and habits – that can mean some real savings, both in time and dollars.
We want to be able to get to know our customers' particular needs, habits, loves and likes – but in particular we’re in a unique position to be able to eliminate any travel hassles they may have had to put up with in the past.
GIFT OF TRAVEL GIFT CARDS & MYSTERY BREAKS! Ideal for corporate gifts or indulging a loved one.
Besides the day to day arrangements, such as visa, departure taxes and even emergency contact numbers, Air New Zealand Holidays can offer some unique options for corporate customers to pass onto their own clients, such as Air New Zealand Mystery Breaks. If you wish to feel valued and to have a person on call who understands your every business travel need, contact Kate and her team at Air New Zealand Holidays, Esk St, Invercargill or phone them on 03 215 0000.
For more information call us on 03 215 0000 or pop in and see us at 46 Esk Street, Invercargill
OTAgO uNIVERSITY OffER ENTREPRENEuRSHIP STudY IN THE SOuTH Being green is good for the bottom line. Having a sustainable business vision and strategy makes financial and environmental sense, according to University of Otago Centre for Entrepreneurship Director, Professor Brendan Gray. With increasing energy, water and waste disposal costs it is critical that firms think seriously about how they can minimise resource use and maximise the recycling of packaging and ‘leftovers’. Firms such as the giant Wal-Mart chain in the USA have shown they can save millions of dollars a year in heating, lighting and water costs through innovative changes to building design and production processes. Professor Gray believes there are also many “clean technology” opportunities for entrepreneurs. “A lot of our students have a ‘green focus’ and they are serious about caring for communities as well as the physical environment,” he said. The Master of Entrepreneurship degree at the University of Otago can help owners and managers of existing firms as well as aspiring entrepreneurs to maximise the potential of any new ideas they create. “Typically our classes are a mix of people wanting to create entrepreneurial spin-outs from existing businesses and those wanting to create new enterprises to exploit new technologies and market opportunities,” Professor Gray said. The Master of Entrepreneurship degree is offered in Queenstown and Dunedin. The
Pictured: The Centre for Entrepreneurship team (from left to right) Professor Brendan Gray, Dr Jodyanne Kirkwood, Mrs Ruth Matika, and Dr Victoria Jameson.
first year consists of seven courses taught in intensive three-day modules every six weeks. This allows entrepreneurs to work on their businesses and put their classroom learning into practice. The Masters component is a third semester spent developing a feasibility analysis and comprehensive business plan for a new venture.
The next intakes into the Master of Entrepreneurship degree are in Queenstown in July and Dunedin next February. For more information about the degree contact Dr Victoria Jameson victoria. firstname.lastname@example.org.
Create Your future
If you have an interesting idea and want to create a new business to exploit it, then the Master of Entrepreneurship degree at the University of Otago can help you to achieve your dreams. The course takes you through from idea recognition to value creation and business development. The degree is also suitable for people with an existing commercial or social venture who want to innovate. Each paper is taught in three-day modules every six weeks, so you can work on your business while also learning how to improve it. The next intake in Queenstown starts in mid-July. We also teach in Dunedin, with the next intake starting in February 2013. Entry requirements are a degree in any subject or equivalent industry experience.
For further information, go to: http://www.otago.ac.nz/ entrepreneurship/Course%20Info.html Or contact Victoria Jameson email@example.com.
BuSINESS BRIEfS Budget day Coming up The Government will deliver Budget 2012 on 24 May 2012. BNZâ€™s â€˜Closed for goodâ€™ Community Programme On 8 May, BNZ employees and members of the community will be getting stuck into some of the thousands of odd jobs that need done around New Zealand. BNZ is calling for fences to paint, gardens to weed, holes to dig, websites to build, as well as any other specialised jobs which may need doing by community organisations. BNZ stores and offices across the country will close their doors for one day so staff may help community and not-for-profit groups with projects that support the wider community. This year the bank is also inviting members of the public to become involved.
Smaller Pay Rise for directors in 2011, but stillâ€Ś The base pay of directors rose more than five times the rate of the average worker last year, but it rose less than previous years. A survey found that, for the directors who got a rise, the median (middle) increase in basic fees last year was 11.1% for non-executive directors. Between 2004 and 2009 fee rises consistently ran between 15% and 20%. The median increase for chairs was 12%. The typical director earned $34,429 annually in basic fees, with the typical chair getting $63,355. Directors of listed companies were paid 1.96 times more than directors in publicsector organisations, compared to 1.4 times in 2005, while non-listed, privately-owned businesses paid out average fees 1.3 times higher than those paid out in the public sector.
Pay fines orâ€Ś New Law The Courts and Criminal Matters Bill, which amends 20 statutes governing the enforcement of fines, came into force in February. Amongst its provisions: ď Ž The Ministry of Justice can now release the amount of a personâ€™s overdue penalties to approved credit reporting agencies, and credit reporting agencies can provide contact details of debtors to the Ministry to use to enforce payment; ď Ž Driverâ€™s licences of people with unpaid traffic-related fines can now be suspended; and ď Ž People or firms who are owed money can more easily get court orders allowing compulsory deductions from the wages or benefit payments of their debtors. Courts will also soon be able to re-sentence an offender to prison or home detention if the reparation they have been ordered to pay proves to be unenforceable or unaffordable, if these sentences were available at the time of the original sentencing.
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VIEWPOINT (CONTINuEd fROM Pg 3) We need a change of thinking and direction. What is needed in the 2012 budget is the setting of some realistic goals that are understood and a strategy that is seen to be
exports occupy less than one percent of the market. With smart marketing, a shift from commodity exporting to added value we could occupy a slice of a niche global market and become a successful exporting nation across a wide front.
achievable. Incentives to change business behaviour and access to an economic development fund that backed new players beyond the traditional companies – now that would be useful. As the PM has correctly identified, the way for New Zealand to ultimately get ahead is to sell more to the rest of the world. That means just one thing has to happen – our businesses have to find ways to either get into exporting or to lift their game if they already are. It should not be that hard, New Zealand’s
If every small to medium innovative business with a turnover of between, say, $1-5 million was motivated to set a specific growth increase over the next five years, the New Zealand-wide impact on growth and the nation’s confidence would be enormous and a target that doubles the number of businesses exporting more than, say, $5 million per annum would represent significant progress. However, as a goal for achieving economic transformation we are still arguably underperforming for branding ourselves as a nation of exporters. We need a practical
programme that encourages the future generation of business owners to leave their brand on the world, we need action to position worldwide, an inventory of finished products and services suitable for overseas marketing. Ultimately it is the private sector that will determine the success of New Zealand. Export by many of our businesses is crucial to our success – and crucial to this success is a supportive and engaged government working in partnership with business, making it easier to do business.
A video of John Key's comments on the budget policy statement is posted on our home page at www.commercesouth.com Richard Hay
SCENE 'N HEARd AROuNd SOuTHLANd
Katherine Blomfield of the City Gallery gears up for Chamber of Commerce guests at the Central & Otago Artists' exhibition in March.
Some of the teams involved in the 2012 Lion Foundation Young Enterprise Scheme at the introductory day at the Invercargill Workingmens Club.
L to R: BNZ BizBites with Action Coach presenter Andrew Johnston, Sandy Cooper, Lindsay Stevenson and Debbi Tynan paying attention
Chamber of Commerce guests attend a BA5 (Business After 5) event at WHK – hosted by CrestClean. MD Grant McLauchlan traced the rapid growth of this, now international business.
VOLATILITY CREATINg LONg-TERM WEALTH OPPORTuNITIES IN 2012 New trade corridors and demand for protein provides opportunities. Despite the difficult current economic climate, New Zealand’s trade is set to grow at an annualised rate of 5.88 percent over the next five years, outperforming world trade growth predicted to grow at the slower pace of 3.78 percent during the same period, according to HSBC. The second quarterly HSBC Global Connections has been released and predicts New Zealand’s trade growth to continue this positive trend long into the future. Between the years 2017-2021 growth is expected to rise to 7.28 percent, compared with world growth at 6.23 percent, leading to a 134 percent increase in New Zealand trade by 2026, when indexed against 2011. HSBC Global Connections focuses on how the share of world trade will change for 37 countries over the next five, 10 and 15 years, combining lead indicators of world trade and macro-economic trend information. HSBC New Zealand Head of Global Trade and Receivables Finance, Gary Cross says, “New Zealand is in the right geography and in the right industries to take advantage of accelerating trade trends. As millions more people within the emerging markets of the Southern Hemisphere move-up to the middle
classes, demand for our agricultural, meat, wood and wine products can only increase.” New Zealand’s fastest growing trade corridors Although accelerated growth in Asia and Latin America will fuel New Zealand’s exports, Australia is expected to stay New Zealand’s largest export partner, with trade forecast to grow by 7.46 percent annually over the next five years. China, our second largest export partner, will grow more swiftly at 12.60 percent annually to 2016 while the USA, our third largest export partner will grow by 2.12 percent annually over the next five years. New Zealand’s top five fastest growing large export partners are all in the Asia Pacific region. Demand within the agricultural sector will continue, with milk and cream, lamb and goat meat exports to emerging Asia dominating – milk and cream exports over the next five years
to China are set to increase annually by 16.46 percent, to Singapore by 10.97 percent and to Malaysia by 9.08 percent. Exports to Peru, Venezuela, Cambodia and Bangladesh are all forecast to grow substantially over the next five years, predominantly in milk and cream products. New Zealand is also opening new international trade corridors in this sector with Africa. “New Zealand businesses will have to concentrate on how they are going to match the speed needed to keep up with the pace of projected trade. The speed at which businesses will have to grow may seem challenging, but the reality is that growth opportunities for New Zealand lie internationally,” concludes Mr Cross. The above material has been provided for general information only and does not constitute personalised investment advice. Although every effort has been made to ensure its accuracy, it should not be relied upon or used as a basis for entering into any products or making any investment decisions. Readers should seek independent legal/financial advice prior to acting in relation to any of the matters discussed in this publication. Neither HSBC nor any person involved in this publication accepts any liability for any loss or damage whatsoever may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in this publication. HSBC in New Zealand is the Hongkong and Shanghai Banking Corporation Limited, incorporated in the Hong Kong SAR with limited liability, acting through its New Zealand branch.
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