7 minute read
Michael Mowle - Business Voice
BUSINESS VOICE
tMICHAEL MOWLE
PRESIDENT PORT MACQUARIE CHAMBER OF COMMERCE
Port Macquarie Chamber of Commerce recently hosted a meet the Candidates Forum at Westport Bowling Club. It was a great opportunity for the business community to meet and hear from both Mayoral and councillor candidates running in the upcoming Local Government election.
A wide range of candidates from differing backgrounds and life experiences put forward their views and how they intend taking the organisation forward for the next term of council. All were passionate about the region and the common thread was a desire for improving our already great region and preserving its natural attributes whilst planning for growth.
The hot topics of the evening were delivering infrastructure to support our growing region and housing affordability. Candidates put forward a wide range of ideas and strategies on how to deal with these challenges over the next decade and beyond.
In terms of infrastructure delivery there was an acknowledgment of inaction of the past two decades which has lead to the current shortfall particularly in a road network to service the needs of the community. It was generally recognised that during the next term of council a huge backlog of infrastructure work is required along with planning for the next couple of decades.
Housing affordability was discussed in some detail by all candidates with a general consensus that high prices were being driven in large part by constrained supply and high demand. Most candidates recognised that the situation could be alleviated by encouraging a mix of housing types and providing an adequate supply of zoned land across the region.
Another topic raised and discussed was the current council fi nancial reserves of circa $350m and whether this money is completely tied to specifi c projects or council has discretion on where it is spent. Specifi c fi nancial advice was provided and confi rmed by several candidates that a large percentage of the reserves are allocated to planned infrastructure projects and hence cannot be legally allocated elsewhere.
There was also some spirited debate around the possibility of a rate freeze for a period of time beyond the next term of council. However, this policy was countered by an argument that such a move would result in a reduction in services provided to the community. The discussion on this point also raised a question as to the operational effi ciency of council services and whether past rate increases had been justifi able.
All candidates are to be congratulated for making themselves available for election to public offi ce and committing to serve their community. Regardless of the outcome and which candidates are elected there is little doubt that they face a range of challenges over the next term of council in planning for and delivering infrastructure and services to support our growing region.
As 2021 draws to a close the business community can look back on another turbulent, challenging year which has brought to the fore the resilience and ingenuity of local business once again. With the recent easing of COVID restrictions and less government intervention promised all our business operators can now look forward to a period of rapid recovery and optimism.
PROVIDING FINANCIAL
PLANNING
to Port Macquarie and Surrounding Areas
OUR KEY FOCUS IS TO GUIDE YOU EFFORTLESSLY THROUGH THE FINANCIAL MAZE, assist you to manage your priorities and help you achieve your fi nancial goals.
Smarter Financial are celebrating
10 years, can you introduce
us to your team? We have Julie who’s been with us going on 9 years who is in charge of our client enquiries and is also our Centrelink liaison. We have Tamara who’s just past 8 years with us, Tam is our paraplanner who also assists with the preparation of strategies. Then we have Tim, who’s recently joined us as a fi nancial planner, and then Ashley and myself.
When you started Smarter Financial 10 years ago what was your vision for the company, and what changes have you seen
over the last 10 years? Ten years ago, the vision was rather simple, I just wanted to help people but do it in my own way. In the current landscape, and like most industries, there has been a massive shift towards compliance and regulation. In addition to the education reforms, we have seen a mass exodus of advisers from the industry and not too many new entries.
Your new partner Ashley is a great asset to the industry, tell us a bit about Ashley and what he brings to Smarter Financial?
Ashley was with me for 5 years before he came on board as partner. Technically he’s one of the most skilled planners I know, and knowing that I can rely on him no matter what is most important to me.
What have the last 18 months taught you, not only as a business owner but also as someone who works in the fi nance and
insurance industry? When COVID hit I guess like everyone we were unsure of what was in store. It was an opportunity for us to review our expenditure and look at what would be our worst case scenario. We were fortunate that 12 months earlier we made changes to the business, which allowed us to keep working from home at near full productivity, and like so many other businesses we built up a level of resilience. As a business, and this applies to any business, you can’t just assume that business conditions are always going to be great, you need to be able to adapt and be prepared for that rainy day.
What are some of the biggest issues you are seeing in the retiring population and how can those who are due to retire
in the next 10+ years avoid this? People are getting so caught up in the fi nancial side of retirement and enough thought isn’t necessarily going into what should retirement look like? Working 5 days a week for 40 years and all of a sudden stopping can be a shock to the system. We can help someone prepare fi nancially for retirement, but the individual also needs a plan for their retirement, whether that’s travel, charity work, time with family etc.
What is one question you get asked the
most? How much do I need to retire? The Association of Super Funds Australia states that $63,799 per annum is the comfortable number for a Couple ($45,239 pa Single). This assumes that you own your own home, and it equates to a retirement balance of $640,000 ($545,000 Single) and also takes into consideration a part age pension. We use this as guide, but each client is different and has different needs.
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Introducing Tim Hillier
Take the next step towards your fi nancial goals today. Get in contact with the Port Macquarie team at Smarter Financial today for all enquiries.
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Smarter Financial Pty Ltd, corporate authorised representative (CAR), number 413167, trading as Smarter Financial & Insurance Solutions, is authorised to provide fi nancial services on behalf of LFG Financial Services Ltd. Principal Address Level 24, 300 Barangaroo Ave, Sydney NSW 2000, ABN 28 101 927 413 Australia Financial Services Licensee - Licence Number 227096
