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CONTENTS PUBLISHERâ&#x20AC;&#x2122;S NOTE The new year is well and truly here. Businesses are brushing off 2011 and shaping up for what will be a big year for Canberra and the nation. There is still trepidation amongst consumers and employers about just where the Australian economy and the world economy is heading. The best we can do is prepare as best we can and put on a brave face. In this issue we celebrate Cantlie, a great local talent services business that sees a bright future for Canberra and is taking this message to the rest of Australia and the world. Cantlie is a great local success story that has just rebranded and is ready to take their 'trust' based business to the next level. Finally I would like to congratulate all of the people that took part in and visited the Canberra Multicultural Festival. One of Canberra's greatest assetts is our multicultural community.

Angela Cusack, General Manager and Keith Cantlie, Managing Director of Cantlie photos by Andrew Sikorski

TIM BENSON Publisher

UPFRONT 06 Canberra business powers into second decade 07 Qantas scoops six 'top drop' wins at Cellars in the Sky Awards

OPINION 10 Juliette Ford, Director, Farrar Gesini & Dunn, discusses new years resolutions part 2

13 COVeR STORy

CAnBeRRA'S TALenTeD FuTuRe Cantlie leads the way.

CONTENTS

FEATURES

30 CORPORATE GOVERNANCE Crisis Management: Lessons from the frontline By Australian Institute of Company Directors

08 Are Undervalue Property Transfers Prior To Bankruptcy Voidable? − RSM Bird Camerson answers

MARKETING Leave a big impression not a big footprint By Mary Curran, Brandnet

16 What is the new PPS Register?

Good News for Business and Consumers

18 National Capital Cartons- A carton for every reason COVER STORY 13 Canberra's Talented Future – Cantlie leads the way

34 TALENT SERVICES Job fit is critical! By Cantlie

VOX POLI 22 Does Canberra really need a world class convention centre?

WEBSITES Facebook Timeline – story of your life! By Synapse Worldwide

25 ADVICE FROM THE EXPERTS 26 ACCOUNTING Are you in business with someone? By RSM Bird Cameron

A2B: ASSOCIATIONS TO BUSINESS 36 CANBERRA BUSINESS COUNCIL: The year of uncertainty

BUSINESS LAW Redundancy – How can I protect myself By Elringtons Lawyers

38 ACT & REGION CHAMBER OF COMMERCE & INDUSTRY: Canberra, the learning capital

28 BUSINESS RELOCATIONS Organisations on the move – A case study By Allied Pickfords Business Relocations

32 ESTATE PLANNING Case Study: The Peter Brock Story By Certus Law

BUSINESS SERVICES PPSA heralds a new era in business By Kazar Slaven

BUSINESS NETWORKING 39 B2B @ Supersplitting Book Launch B2B @ RSM Business Seminar 6

20 PUBLISHER I EDITOR

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UPFRONT

Canberra business powers into second decade yellow edge is a great Canberra success story. Ten years of success for this locally grown business sees it entering its second decade with conﬁdence and an increasingly national and international proﬁle.

Yellow Edge is a great Canberra success story. Ten years of success for this locally grown business sees it entering its second decade with confidence and an increasingly national and international profile. January 14 marks 10 years in business for Yellow Edge, a significant achievement in a decade marked by the global financial crisis and on-going economic uncertainty. Andrew Simon, a Founding Director and Deputy CEO, says “The business has achieved much in its first decade and the focus now is to extend this for our people, our clients and our partners for the next ten years”. The company inspires performance at individual, team and organisational levels through cutting edge designs for leadership development, creative strategies to help people perform at their best and strong collaborative practices. Working creatively with leaders in their complex challenges is a strong focus for Yellow Edge. Examples of this are its two highly innovative experiential leadership

programs focussed on the future and on China and the U.S., as part of its Global Leadership Practices initiative. Andrew Simon notes: “These programs provide first hand insight. They recognise Australia’s unique strategic positioning and the opportunity that Australian government and business leaders have to better understand and engage with China and the US as major economic, social and political players in our region for mutual benefit. All our offerings provide unique opportunities for our clients and are very well regarded by government, private and community sector leaders.” Recognising the value of deep collaboration and partnership, Yellow Edge works closely with the China Executive Leadership Academy in Shanghai, the most prestigious executive leadership institution in that country, the renowned Georgetown University in Washington DC and Australia’s own very best, the ANU here in Canberra, in the delivery of these ground

breaking programs. Yellow Edge employs 30 professional, fun, engaged full time staff, augmented by a national network of coaches, consultants and facilitators. Closely integrated with the Canberra community through its staff, client base and strong community involvement, Yellow Edge is confident about its future in the ACT. Its funky premises and its locally designed, world class Australian Leadership Innovation Centre, located in Barton’s prestigious Realm Quarter, are indicative of its commitment to the future. The Yellow Edge vision is Inspired Lives – appropriate for a company that has an inspiring record in its first decade and looks confidently to inspire others in the next. Contact: Terry Fewtrell 0412 823 275; terry.fewtrell@yellowedge.com.au Andrew Simon, Executive Director and Deputy CEO, is available for interview and photographs at the Yellow Edge offices and Australian Leadership Innovation Centre, 9 Sydney Avenue, Barton.

P: 02 6273 0168 F: 02 6273 0246 E: clientservice@yellowedge.com.au www.yellowedge.com.au 6

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UPFRONT

Qantas scoops six ‘top drop’ wins at Cellars in the Sky Awards

Qantas’ commitment to excellence in wine service has resulted in six top awards at the internationally prestigious Cellar in the Sky Awards, held recently in London. Qantas has scooped the pool with a number of awards, including Best First Class Cellar and Best Business Class Cellar for the second year running. Qantas has also won the award for consistency of wines across the First and Business Class Cellars and Best Presented Wine list. In the individual wine categories, Qantas

won Best Business Class Red for Mount Langi Ghiran Cliff Edge Shiraz 2008 and Best First Class Sparkling Wine for Comtes de Champagne Taittinger 1999. The Qantas wine program is led by an expert panel of wine industry judges and respected winemakers, Tom Carson (Yabby Lake), Vanya Cullen (Cullen Wines) and Stephen Pannell (S.C. Pannell). The program showcases the diversity and quality of the Australian wine industry and the Qantas list is one of the world’s most prestigious with over 250 specially selected local wines. Qantas Executive Manager Customer Experience, Alison Webster said the Qantas Wine Panel continue to deliver an exceptional cellar for Qantas customers. “The Qantas Wine Panel ensures the best selection of Australian wines is delivered to Qantas customers in their seat. We pride ourselves on developing a selection of wines, from the latest wines made by boutique winemakers to the iconic drops that form the very base of Australia’s great winemaking

legacy,” Ms Webster said. “Qantas also goes to exceptional lengths to ensure customers are provided with detailed information about what they are drinking through our Sommeliers in the Sky cabin crew training program, in which cabin crew are trained extensively in all aspects of wine service. “It is becoming an increasingly competitive industry however Qantas is continuing to shine by showcasing the best Australia has to offer.” Qantas invests over $25 million dollars in the Australian Wine industry every year through the Qantas Wine Program. In 2005, Qantas became the first airline to be awarded both the Cellars in the Sky Best First Class and Business Class Wine Lists and has continued to win awards, also collecting six awards in 2011. The Cellars in the Sky Awards have been running since 1985. The internationally esteemed competition recognises the best red, white, sparkling and fortified and dessert wine served in the air.

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F E AT U R E

Are ‘undervalue property transfers’ prior to bankruptcy voidable? Alastair McGregor Manager, Turnaround & Insolvency Division RSM Bird Cameron

Are undervalue property transfers that occur prior to bankruptcy voidable? The simplest answer to this most commonly asked question is yes. But why?

eal property is the most significant asset that the majority of Australians will ever own and consequently it is the transfer of real property that is the most common type of voidable transaction in a bankruptcy scenario. Typically the transfer of the property occurs prior to the commencement of the bankruptcy and is transferred to a related party, such as a spouse or direct relative, for consideration which is less than the market value of the property. In certain circumstances, property transfers that occur within five years of the commencement of bankruptcy are voidable and can essentially be reversed, thus revesting the property back to the bankrupt estate. The two key considerations for voidable property transfers are: 1. Was the bankrupt under financial distress at the time the transfer occurred; and 2. Was the transfer for less than market value.

Determining Financial Distress Bankruptcy Trustees have a wide range of investigative powers that enables them to gain access to a bankrupt’s records. These records usually contain information

that will assist the Trustee to determine when the bankrupt was under financial distress and if the bankrupt was under financial distress at the time the transfer took place. Some ways to determine financial distress at the time of the transfer of property are: • The bankrupt was served with the bankruptcy notice and then transferred the property. • Prior to bankruptcy the bankrupt personally guaranteed his/her company’s debts and subsequently the company was wound up. • The bankrupt had outstanding judgment debts and overdue accounts. • Admissions of financial difficulties on loan applications or refinancing applications.

What is the market value The simplest way of determining market value of a real property is by having a registered property valuer conduct a full written valuation of the property. However, it is not uncommon for properties to be transferred for less than the market value because a proper valuation was not conducted at the time of the transfer and/or the consideration paid for the property was less than the market value of the property because only a portion of the consideration

For more information contact Alastair McGregor, Manager, Turnaround & Insolvency Division RSM Bird Cameron Partners on 02 6247 5988 or alastair.mcgregor@rsmi.com.au.

was paid in cash. Where proper consideration (i.e. money) has been paid then such consideration would be taken into account and the difference between the market value and the actual consideration paid would be the amount that the Trustee would seek to recover. Where voidable property transfers are identified by the Trustee, the costs and the likely benefits to the estate are assessed prior to commencing any formal legal action. Typically an estimate of the equity in the property (after mortgage payout) and the legal costs associated with the recovery action would be conducted. The Trustee also has the ability to negotiate a settlement without the need for formal legal action if it is appropriate in the given circumstances. So back to the question at hand, are undervalue property transfers that occur prior to bankruptcy voidable? As mentioned previously the simple answer would be yes. But the why is much more complex than the short commentary above. Each case is unique in that the consideration paid, the financial position of the owner, and the reasons for transferring the property are always different and must be assessed by the Trustee on a case by case basis. Professional advice should be obtained prior to transferring any property.

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OPINION

New Year’s resolutions Part 2

Last month we wrote about adding a Binding Financial Agreement and a Will to your list of new year’s resolution. But what about those of you who have already separated?

ast year we also wrote about the importance of doing a financial settlement as soon as possible after you separate. We don’t propose to rehash that topic, other than to say it is much better to sever financial ties now rather than delay it, which can cause all sorts of problems. For many couples separating is not only about severing all financial ties. Many people have children and have the difficult task of deciding on where those children should live and what sort of parenting arrangements should be put in place into the future. This is not an easy task at the best of times and can be made more difficult when emotions are high and when finances are strained. When we wrote about the importance of getting a pre-nup, we talked about the importance of putting in place protective measures in the event that you separate, to protect your finances. There is no reason that we cannot apply the same thinking to arrangements for children in separated families. After a couple separate, agreeing to collaborate rather than litigate, provides that protection for your children. Committing yourself to the collaborative process means

M A R C H 2 0 12

that you and your ex: 1. Do not have the threat of Court hanging over your head; 2. Agree to be open and frank with one another and to reach an agreement about your children that will be in their best interests; and that 3. Own and control the collaborative process and thereby own and control the outcomes.

After a couple separate, agreeing to collaborate rather than litigate, provides that protection for your children. Over the year, we have written a lot about the benefits of collaboration over other more traditional methods of solving family law issues. Unsurprisingly, we have not changed out mind about how great this process is! Though, to keep it fresh for you, we thought that it might be more relevant to give you

B 2 b I n C a n b e rra

a practical example of what a collaborated process and outcome for parenting issues might look like next to a litigated outcome and why you should make it your New Year’s Resolution to collaborate. Here goes….. The collaborated outcome Elin and Tiger decide that their relationship is over. Though Elin is particularly unhappy about Tiger’s recent indiscretions at Mooseheads, she wants to reach an agreement about what will happen with their two children Sam and Charlie into the future. Elin and Tiger agree to sign up to the collaborative process. At the first collaboration meeting, Elin feels that it is particularly difficult to start talking about future arrangements for the children when she is still so angry at Tiger about what he did. Tiger feels the same, in that he has not had a chance to explain his actions. Elin and Tiger therefore spend their first meeting talking about these issues. At the end of that meeting, both feel emotionally exhausted but good in that they have been able to say how they feel. Elin and Tiger, together with their lawyers, come up with a plan as to how to manage how they are

OPINION

By Juliette Ford, Director, Farrar Gesini & Dunn

feeling and how they will explain to Sam and Charlie that they are separating. In the second, third and fourth meetings, Elin and Tiger, with the help of their lawyers, are able to talk constructively about the children. Tiger tells Elin that it’s important to him that the children have golf lessons. Elin tells Tiger that it is important to her that the children get to visit their grandparents every now and then, who live overseas. At the end of the collaborate process, Elin and Tiger have a written agreement which sets out all of the future arrangements for the children. Both feel that they have had an input in the outcome and have reached an agreement that is in their children’s best interests. The children are coping well with their parent’s separation because of the way that Elin and Tiger have been able to work together and manage their emotions. Elin and Tiger have both spent money on their lawyers but both feel that they have achieved a positive outcome during the collaborative process. The litigated outcome When Elin finds out about Tiger’s Mooseheads indiscretions she goes straight

to a litigation lawyer. She is terribly upset, telling the lawyer her story and explaining her concerns about the children’s future. The lawyer asks her to put $5,000 in trust before she is able do anything. Elin cries some more. Then, feeling like she has no other option, she agrees to deposit the money. Her lawyer tells her that the next step is to write to Tiger and if no response then to file Court proceedings. Elin spends the next two weeks emailing her lawyer back and forth preparing an affidavit. In her affidavit, Elin talks about the fact that she is a much better parent for Sam and Charlie and that Tiger has not and is not a good parent. In her affidavit, Elin talks about Tiger’s many Mooseheads faux pas. A few days later, Tiger is at the 17th hole at Royal Canberra on a sunny February afternoon. Just as he takes the putt for a birdie, a man runs over to him and serves him with Court documents. Tiger misses the putt. Tiger goes to see his lawyer and is also asked to put $5,000 in trust. He goes through much the same process as Elin and prepares an affidavit. On the first Court date, Elin and Tiger sit at opposite ends of the Courtroom. Both look miserable. They listen to their lawyers talking about why each of them are

better parents for their children. The judge sitting at the bench does not know anything about either of them, except for what he has read in their affidavits. Elin and Tiger go through many more Court hearings. They file more affidavits and unsurprisingly their lawyers ask for more money each time. Elin and Tiger feel like they are losing control of the process and are confined by the Court’s and their lawyers timetables and deadlines. Eventually, two years later, they get to a final hearing. The judge makes a decision about their children and their lives which neither of them like. They both feel miserable with the outcome, especially given how much money they have spent. Separating from your partner can be a complicated and difficult process, made much more complicated when you have children to take account of. For an Out of Court Solution, contact Consensus Family Lawyers. For experts in family law litigation 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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COVER STORY

Canberra's talented future.

Cantlie leads the way. words by Tim Benson photos by Andrew Sikorski

Keith Cantlie, founder and Managing Director of Canberra-based talent and human resources consultancy “Cantlie”, has a vision for Canberra that includes the whole of Australia and the rest of the world.

antlie is a specialist in its field providing executive and specialist search, talent sourcing and HR advisory services to government, business, the not-for-profit and educational sectors. Most recently this has included travelling to the UK and Ireland with the Australian Capital Territory Government’s ‘Live in Canberra’ campaign to promote Canberra and source talent for its diverse client base as well as get a better understanding of skills in these markets. During this campaign Cantlie attended the Australian Department of Immigration and Citizenship’s ‘Skills Australia Needs’ information and networking sessions in London and also participated in the ‘Working Abroad Expo’ in Dublin. Keith is a strong advocate for Canberra’s future, focusing his company’s resources on current opportunities as well as its

potential for the future. Having lived in Canberra for the past 23 years, Keith calls Canberra home. But readers may be interested to learn that he was born in Scotland, immigrating to Australia with his parents when he was two. They settled in the Tooma Valley in New South Wales and farmed cattle and sheep over a number of years. In 1982, the Cantlie family moved to Braidwood and at age 18, Keith joined Westpac in Canberra where he commenced his professional career. In 1998 he married his wife Anne and then in 1999, after a short move to Sydney as Executive Manager to the General Manager for Westpac’s NSW Retail bank, Keith literally “woke up one morning” and decided that after 15 years with Westpac, he needed a change of career.

Jessica Meadley, Nicola Saunders, Liz Da Deppo, Tristan Prosser-Shaw, Angela Cusack, Keith Cantlie, Anne Cantlie, Jenny Evans, Estelle Booth, Craig Currie, & Amanda Wadley. Absentees: Janet Kininmonth, Matt Bialkowski, Craig Shreeve & Claire Fourie

COVER STORY

Angela Cusack, General Manager CANTLIE CONTINUED

“I went to work that morning and resigned. Everyone thought I would never leave. I returned to Canberra and started looking for a new career; actually I think I was just looking for a job! I found it difficult because I had only worked for a bank and the employers I targeted weren’t banks,” Keith said.

employing people they respected in the market, who had the same values and who brought new and diverse skills to the business. With this continued success and expansion of talent services they appointed Angela Cusack as General Manager at the beginning of 2011. Her first dealings with Cantlie were in 2005 when she worked for

“When you are focused on talent, you are focused on helping individuals make the right career decisions, taking the right direction and working with organisations to secure the right people for the long term” Keith Cantlie

After three months of searching he got a four week contract at the Australian Taxation Office, which ended up lasting a year. During this time Keith started to work out what he was good at and what he enjoyed and realised that his skills were directly transferrable to other customer focused industries. Meeting many recruitment providers during his job search, Keith’s interest was sparked and it wasn’t long before he was offered a position with a recruitment firm. “For the next four years I worked as a specialist and executive recruiter building strong networks and connections across Canberra. But at a certain point, I’m not actually sure why, I came to the realisation that the way I needed to work to meet the needs of my current employer wasn’t for me, the job no longer “got me out of bed in the morning”, therefore I re-entered the public service on a contract,” he said. During his next foray into the public service, Keith realised that helping people find the right career and companies find the right people was his passion so he decided to work freelance from home. “We lasted six months working from home. On Valentine’s Day 2005 Anne and I moved into a 50 square metre office in Manuka. Seven years on we have moved down the road to around 400 square metres in a two storey building, which our now team of 16 refer to as Cantlie House” Keith said proudly. As Cantlie grew, Keith & Anne continued to build on their team, 14

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Aspen Medical as Director of Human Resources and she engaged the firm to provide talent sourcing and recruitment services. “I liked Cantlie’s values, the standard of their candidates and the way that they worked,” she said. Angela says that she is really pleased to be involved with Cantlie at this exciting time. “Our new logo and colours are all about Cantlie ‘coming of age’. The blue and green is where we came from but our new brand is all about the future,” Angela explained. “The new look is about demonstrating our holistic approach to providing talent services.” The circles of trust After a significant review in collaboration with its strategic marketing company, the new brand evolved based on the trust that Cantlie has developed with its clients. The logo symbolises Cantlie’s commitment to its clients and the community. There is a real synergy between the two rings, representing their partnering approach and ongoing business relationships. The new Cantlie brand and colours represent an ambition to deliver the best talent, wherever they are in the world, to Canberra now and in the future. “The trust we have built in the market has been critical to the success of our business,” Keith said. Cantlie’s focus will continue to be on strategic talent sourcing rather than transactional recruitment, to meet the demand of

COVER STORY

Anne Cantlie, Director

organisations for specialist and evolving skills. “Whilst it has its place, many recruitment companies take a narrow transactional approach to the industry. Cantlie does not have an everything to everyone approach, but rather we are focued on providing holistic talent management, development and sourcing services to our clients,” Angela explained. That is why we refer to ‘talent services’ rather than ‘recruitment’. “When you are focused on talent, you are focused on helping individuals make the right career decisions, taking the right direction and working with organisations to secure the right people for the long term,” Keith said. What makes Cantlie different to other recruitment companies? Keith Cantlie says it’s because: 1. The business has been built based on “earnt” trust. Cantlie’s business has been built on established relationships and referrals. Whilst many other organisations generate business by cold-calling, this has not been our main approach. 2. Our team are employed on salaries. Most people in the industry are employed on a base salary plus commission arrangement, whilst this has its benefits, it also has its pitfalls. The salaried employee model fits well with our values. 3. We have a targeted approach to sourcing specialists and try to avoid the “resume race”, this is not a good approach for anyone! 4. We are focused on careers not jobs. Our approach is about finding career opportunities for individuals that are the “right fit” as well as meeting their longer term employment goals. 5. We don’t provide hourly-rate contractors – we source specialist contractors but don’t act as the employer. Canberra’s talented future Keith is passionate about Canberra and is actively involved in getting the message out to the rest of Australia and the world that it is a great place to live, work and do business. “People outside Canberra don’t know what Canberra offers; it’s somewhat of a mystery. When people come here they absolutely love it,” Keith said enthusiastically. Keith is actively thinking about where Canberra is heading.

Keith Cantlie, Managing Director

“We need to be really thinking about the future of Canberra and how talented our workforce needs to be – what is our “workforce plan” for the future. We need to look at areas where we have a competitive advantage such as innovation and research. We ultimately need a more diverse employer base,” Keith outlined. “I am supportive on initiatives such as the High Speed Rail and the Australia Forum”. According to Keith, Canberra offers a unique balance between building a career and having a great lifestyle. “Canberra offers city living with country benefits, if you live and work here you have access to the machinery of government, numerous high class education facilities, some of which are the best in the world. Overall we have a safe city, with a diversity of community and culture which makes it a great place to live” Keith said. Keith has put his ‘money where his mouth is’ by employing people who have made the significant move from across the other side of the world to Canberra. Jenny Evans worked as a category analyst in a milk and dairy organisation in the United Kingdom, Tristan Prosser- Shaw was a General Manager of a football club and a professional rugby player in the United Kingdom and Claire Fourie operated her own successful business in South Africa. “We have built a business based on trust, honesty and transparency, where people are treated like real people,” Keith said proudly. Canberra needs more people like Keith Cantlie.

Corner Murray Cres and Flinders Way, Manuka ACT, 2603 T 02 6239 7755 | E info@cantlie.com.au www.cantlie.com.au B 2 b I n C a n b e rr A M A R C H 2 0 12

F E AT U R E

What is the new PPS Register? Good News for Business and Consumers By David Bergman, Insolvency and Trustee Service Australia

The commencement of the new national Personal Property Securities Register (PPS Register) on 30 January 2012 marked the start of one of Australiaâ&#x20AC;&#x2122;s most significant micro-economic reforms in recent years. It is the centrepiece and public face of the legislative reforms introduced by the Personal Property Securities Act 2009 (PPS Act).

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F E AT U R E

he PPS Register is managed by the Insolvency and Trustee Service Australia (ITSA) and can be accessed any time via www. ppsr.gov.au. ITSA is the Government agency responsible for maintaining and operating the Register. It has been designed to be highly reliable and fees are being charged on a strict cost recovery basis. A search of the PPS Register including any relevant search certificates costs $3.70. The PPS Act behind the register significantly changes the law when an interest in personal property is used as collateral. Prior to 30 January, the law on security interests was covered by a range of Commonwealth, State and Territory laws. As far back as 1972 the Law Council of Australia recognised the need for reform of this system. In 2008, the Council of Australian Governments formally agreed to establish a national system for the registration of personal property securities in recognition of the fact that commerce does not stop at State or Territory borders and the need for a seamless national economy. The reforms to personal property securities reduced over 70 laws and nearly 40 registers throughout Australia, including the various vehicle encumbrance registers, to one national law and register. Under the law as it was prior to 30 January 2012, as an example, crops and motor vehicles were subject to different laws in different States and Territories when used as security. So, a farmer wishing to grant a security interest in both as a part of obtaining business finance, had to comply with different laws for each kind of property and those laws would be different to the ones applying to a farm in a neighbouring State. The law that applied also depended on how the farmer operated the business. If run through a company, the Commonwealth Corporations Act 2001 would also have applied. The PPS Act achieves its objective of delivering consistency in the law in two ways. First it is supported by referrals of power from the States making it a truly national law. Second, the Act contains an inclusive and sensible definition of what a security interest is, free from terms like ‘chattel mortgages’ and ‘charges’. It says that ‘security interest means an interest in personal property provided for by a transaction that, in substance, secures payment or performance of an obligation’. A security interest clearly includes, for example, borrowing money to buy a car while giving the lender the right to take the car if repayments are not made. However it also includes suppliers who supply goods on the basis that they retain title, or ownership, of the goods until the goods are paid for (also known as ‘Romalpa’ clauses, which can be included in supply agreements). This is because the supply agreement, in substance, has the effect that the supplied goods stand as security or collateral for the payment of the account upon which they were sold. Financing leases, some consignments and any lease of personal property over 12 months in duration also create security interests under the PPS Act.

Find out more on protecting your interests: Visit australia.gov.au/ppsr Call 1300 007 777 Or speak to your professional business advisor.

Business For businesses engaged in supplying personal property on a retention of title basis or under leases this is a very significant change. If a business wants to protect its interest in that property from their customer’s default or insolvency they will need to consider registering their security interest (as embodied in the supply or lease) on the PPS Register. While making a registration is an optional extra step for these businesses (even though it will typically be only one registration per customer rather than per supply), the legal certainty that the PPS Act gives to these arrangements, including the extent of enforcement rights, will, I am sure, be welcome. To prepare businesses for these changes, the Australian Government has engaged and informed industry by facilitating and participating in a number of industry groups to specifically assist in the transition process. The Government also conducted a national road show focussing on small and medium enterprises in May and June 2011 where over 70 metropolitan, regional and rural places were visited. The public can obtain further information on the reforms from the PPS website, www.ppsr.gov.au, which provides fact sheets and tutorials designed to assist users undertake key functions of the PPS Register, or by calling 1300 007 777. Furthermore, the PPS Act allows a two year window for the registration of security interests that were created prior to commencement of the PPS Register at no cost. Another key element to the transition to a single national register has been the transfer of data from 23 current registers covering company charges, motor vehicle encumbrances, bills of sale and stock mortgages.

Consumers In addition to the benefits for business, the implications of the changes of 30 January 2012 for consumers, including businesses when they are consumers, are significant. Consumers will: • be able to search a single register to determine whether property they intend buying has any interests registered against it; no-one wants to risk having property they purchased being repossessed and now there is only one register to search • be able to search the PPS Register for interests in vehicles and will, for the first time, automatically receive a range of other vehicle information, including stolen and written-off notifications, from a national source • retain the benefits of the Australian Consumer Law and of national consumer credit legislation. In addition to having a user friendly register, the PPS website includes a wide range of information about the new PPS Act and PPS Register including fact sheets for consumers and various kinds of businesses. I encourage anyone dealing in personal property to take advantage of these resources and of the PPS Register. The changes to the law on 30 January and the new national Personal Property Securities Register are positive steps for commerce in Australia. Together they significantly reduce the costs and complexities associated with creating, identifying and enforcing security interests while increasing certainty and consistency of laws and outcomes for those involved. David Bergman is also the Registrar of Personal Property Securities. B 2 b I n C a n b e rr A M A R C H 2 0 12

F E AT U R E

a carton for every reason

ot all cardboard boxes are created equal. Some simply don’t go the distance. Only the most durable cardboard cartons should be used for transporting or storing important materials. If you have ever had a bad experience with a poor quality box, you would know that there’s nothing worse than having the bottom fall out of a carton and the contents spilling everywhere.

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NCC has a simple work ethic, to supply the right packaging for the job, while minimising waste and encouraging re-usability whenever possible. More efficient use of space is also better for your budget. So, with a National Capital carton you can look after your business and the environment at the same time. The correct packaging design delivers many benefits including improved

National Capital Cartons (NCC) is a family-owned, local business specialising in providing environmentally friendly, custom made cartons and packaging materials.

National Capital Cartons (NCC) is a family-owned, local business specialising in providing environmentally friendly, custom made cartons and packaging materials. They support local businesses and because they are just around the corner, they can offer you super fast service to ensure that you can get your packaging supplies when you need them. You can feel confident when buying an NCC Carton. You’re getting a high quality carton, that is sure to meet and almost certainly exceed your specific requirements. Why risk damaging your goods during transport or storage when you can have a box custom made to the exact size you need. National Capital Cartons is the only supplier in Canberra that custom manufactures cartons on site.

performance, better efficiency, and better presentation which is precisely why NCC offers a comprehensive design consultancy and sampling service. A professional packaging solution will reinforce your brand image and help build better relationships with your customers. When your products are correctly packed it prevents breakages and avoids those annoying disputes with customers. From consultancy through to design and ultimately the manufacture of cardboard cartons in all shapes and sizes, NCC promotes the use of recycled and recyclable materials at every opportunity. As the only company of its kind in the Canberra/Queanbeyan region NCC is the GO-TO-COMPANY for your packaging requirements. National Capital Cartons make all sorts of

boxes. They supply removalist cartons and archive boxes. They also provide a wide range of bread boxes, bread and cake trays, and meat trays. In fact, if you need a carton for almost any purpose, NCC can make it for you. And it’s not just boxes, they do point of sale displays, cardboard backdrops and different shaped items for schools, galleries and kids holiday programs. Cartons can be printed with your corporate logo and colours to help advertise your business. To improve the presentation of your carton you can choose from a large number of standard cutting dies available to help save the cost of having a specific die made for your box. NCC also carries ancillary products such as ENVIROBUBBLE bubblewrap, pallet wrap, tapes, all manner of protective packaging, BIO FILL void fill, for all industries and government departments. As a major supplier to the wine industry, NCC carries Amcor and OI glass, Guala closures, plain and printed cartons and carton dividers. NCC is also a primary supplier to the postal and mailing Industries Specialising in short-run tailor made cartons has ensured NCC is also extremely popular with small business and individuals who require limited quantities at the right price. So, if you need to store it, pack it, present it, sell it, or move it, there is a great chance that National Capital Cartons can make your life easier. 3/31 Lorn Road, Queanbeyan NSW 2620 P (02) 6280 9488 | F (02) 6239 1146 www.nationalcapotalcartons.com.au

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THINK OUTSIDE THE BOX National Capital Cartons (NCC) is your local independent supplier of cardboard cartons and packaging options. Some of our products include:  ENVIROBUBBLE bubblewrap  Pallet wrap and strapping  Tapes  Protective packaging  BIO FILL void fill  Wine packaging – bottles, closures, cartons  Storage and Removals cartons  Postal and Mailing products – postal tubes, jiffy mailers NCC supply products to all industries and Government Departments. We now offer customised carton design and manufacture onsite.

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F E AT U R E

THE

Andrew

,C Nesbitt

& Watt mes a J , ahy ris Le

da ren Me e v Ste

ASSOC-Y-ATES

A walk through the Deakin offices of Beames & Associates provides a marked difference from most local accounting firms. Here generation Y rules and the average age of staff is around 25. According to director James Watt, that is one of the reasons for the firms’ success and continued growth. photo by TIm Benson

“

There are several reasons why the firm has grown so quickly in such a short space of time” says James. “One of those key reasons was getting the right mix of staff on board. We’ve now achieved that and are in the enviable position of having retained the same core management group together for an extended period. Imagine surfing a set of waves on a beach. It isn’t all about catching that first wave and riding it in; you need to continually be searching for that next wave to follow up the first. It is this “next wave” of future business leaders at our practice that are now really starting to have a big impact and kick some goals in their own right”. ”Whilst generation Y is often tagged as being disloyal, James along with senior managers Andrew Nesbitt and Steve Merenda

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all buck the trend, having been with the firm for over 7 years. Manager Chris Leahy is the newest of the group to join the firm, having started back in 2007. According to Andrew Nesbitt, this longevity “has allowed us to build strong relationships with both our clients as

building better than many and has managed to become a “go to guy” for many of Canberra’s community of young doctors. “It’s not a matter of approaching medical professionals and asking for their work” Steve says. “I just keep my ear to the ground and if any of the

Imagine surfing a set of waves on a beach. It isn’t all about catching that first wave and riding it in; you need to continually be searching for that next wave to follow up the first. well as other professionals in the local region, for example solicitors, real estate agents and mortgage brokers. It hasn’t been an overnight process, but we’re now starting to see a lot of growth from referrals that have been made due to the strength of these relationships”. Steve Merenda understands relationship

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guys mention a financial issue they need help with, I tell them what I do for a living and how I’ve helped people in similar situations. Eventually word gets around that I can help them out, it’s a great situation to be in”. But why is the staff group so young? Chris Leahy, who has been instrumental in

F E AT U R E

the formation of a satellite Vietnam office to assist the practice with data processing says “One thing we’ve always done as a firm is to promote from within and only hire graduates. This has been fantastic for those young, high achievers we’ve had who have wanted to progress their careers faster than they could in other accounting firms. It is great for staff morale too – there is nothing to stop someone with the right attitude and ability from rapidly progressing their career and earning great money at a reasonably young age. Everyone knows that what they can achieve here is solely up to them”. Some people might be hesitant to use a younger adviser, thinking they won’t get the same service as they would from an older, more experienced practitioner. “That’s a fair comment” says Steve, “and in some circumstances having someone with a few grey hairs is definitely of benefit. However I would say that in the forever changing taxation landscape it is probably the younger advisor who is better prepared to remain up to date than a more experienced advisor, who may have some difficulty staying on top of continual technical changes whilst trying to concurrently work on higher end strategic and planning issues for their clients. In some firms where you have an older advisor without the next wave behind them, clients will often get the technical service or the strategic planning, but not both. At Beames & Associates, due to our age demographic, our clients are in the position where they are able to get the best of both worlds”. Andrew, who actually started as a part time university student agrees. “At Beames & Associates we have managed to achieve a fantastic combination of youth and experience” he says. “The experienced advisors we have are a fantastic resource for the younger professionals to bounce ideas off, or discuss client strategies when needed. If a younger staff member is unsure of what to do senior directors Peter and Ross Beames are only a few metres away. It is this mix of youth and experience that has worked so well for us at Beames & Associates”. Chris also thinks that having youth on your side can be an advantage when it comes to reinvigorating a client and their business. “So often we inherit clients that have been getting the same old advice from their accountants for many years. Often it takes a fresh perspective from someone new to really shake things up and get the business person thinking about some other options that may have been overlooked in the past”. According to James, another reason a younger advisor may be suitable is that generally, people in small business are looking for a long term, fulfilling relationship with their advisor. “Over the next few years we will witness many of Canberra’s older accountants retiring from the profession which, if not handled well could create some issues for their clients. The “next wave” of Directors at Beames & Associates is around 30 years of age and the following wave behind them are around 24 years of age. This means that we will always have the human infrastructure to ensure that we are well positioned to service all of our clients needs, including both tax technical and corporate strategic for many years to come”.

Suite 7, Football House 3-5 Phipps Close, Deakin T 6282 9500 F 6282 9200 beamesandassociates.com.au

THE BEAMES & ASSOCIATES GENERATION Y GUARANTEES” Deliver On Promises If we say we’re going to do something – it will be done and all the loose ends followed up. If you have to constantly chase up your accountant to deliver on a promise they’ve made it may be time to start looking for another advisor.

Be Proactive Meeting only once a year with clients is not ideal. We try to meet with all our business clients several times a year to ensure we understand what they are trying to achieve and so we can offer advice in real time rather than reviewing historical results.

Be Contactable We certainly try to return phone calls and emails the same day and definitely within 24 hours. We understand how frustrating it can be to clients when they need advice immediately and their accountants can not be reached, this is a major cause of clients looking for a new accountant. Directors and mangers all have iPhones / iPads and clients can always contact us on our mobile phones. We understand that our clients businesses do not just run during core business hours!

X-Factor Your accountant needs to be always thinking of a different way to do things – “without change, nothing changes!!” We are always looking at a client situation with this in mind – what can we do differently to help our clients be better off financially? Are they trading through the correct structure? Should they look at investing in XX etc.

Technical Competence Most people would expect this to be a given when they visit their accountant however it is quite scary how many clients we inherit whose previous accountants did not have adequate technical competence. Unfortunately in many cases this can lead to overpayment of tax for those clients.

Passion Many of our clients end up becoming our friends and we support our clients and their businesses as if they were our own. The potential for cross referrals across our clients is huge and we hold regular social functions for clients that allow them to grow and develop their businesses networks with like minded people. It is a bit clichéd but our client’s success is our success.

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VOX POLI

Katy Gallagher

ACT Chief Minister

We don’t have enough five star accommodation - but many are pushing for a world class convention centre. Have our politicians got their priorities right?

anberra as the nation’s capital and the centre of political debate is a place to which Australian’s turn for leadership, ideas and action. It is home to some of our nation’s greatest thinkers, to internationally renowned researchers and to world leading learning institutions. Canberra has many assets that make it an attractive conference and event destination. We know there are significant benefits to be derived from business and conference events. There is the direct economic impact through delegate expenditure on accommodation, restaurants and bars, shopping, flights and taxis. There is also the opportunity to build

You decide. Zed Seselja

ACT Opposition Leader

Does Canberra really need a world class convention centre?

here is no doubt that Canberra would benefit from a world class convention centre, or more accurately, a convention centre precinct. A successful convention centre precinct requires not just the building, but entertainment, accommodation and other infrastructure to make the centre work, and ensure it doesn’t become simply an unsupported structure. There is an argument that such a precinct would be one of national significance.

A Meredith Hunter

Parliamentary Leader ACT Greens

s the national capital, Canberra does need to have a world class meeting facility. We must, however, have a clear understanding of what events we are seeking to host, and therefore what facilities are required. Canberra’s niche is our status as the seat of government. Given our size, we cannot provide the incentives or the audience for the major motor shows, retail travel expos and the like. But the combination of our national institutions, government agencies and tertiary institutions does give us a

VOX POLI

brand awareness and showcase Canberra as a business and tourism destination. Business events can generate funding and future research capacity, highlight the talents of local experts, increase employment and provide opportunities for networking, new partnerships and collaborations. Canberra certainly has the desire to host significant meetings, cultural events and occasions of national importance however we need to acknowledge that a large convention facility does come at considerable cost. The initial estimate for the Australia Forum proposal for the West Basin is $328 million. While the ACT Government is taking the proposal seriously and has committed $1 million for a feasibility study into the idea, for such a proposal to proceed, it would need to be a collaborative effort with substantial support and co-investment by the Federal Government and the private sector. There are examples around the world of successful integrated precinct developments which is why the Government is also looking at broader developments at the West Basin and considering a stadium and transport facilities

alongside any future conference centre. What is important in the interim is that we play to our strengths and I am determined to ensure we maximise every opportunity available that will deliver broader economic benefits for our city. As Chief Minister, I will vigorously pursue partnerships with industry, business, other governments and our world class educational institutions to ensure we embrace opportunities that enable us to showcase our beautiful city. That’s why I have sought to work collaboratively with the NSW Government on a joint G20 bid. Right now Canberra does not have the capacity to host such a large scale event alone but we are well placed to host significant side events that are staged in the lead up to and during the G20 Summit. I believe this collaborative approach provides a compelling and unified case for the Commonwealth’s consideration and could secure Canberra to show off its role as our nation’s capital. I look forward to continuing to work in partnership with the industry and business to secure opportunities for our city.

If constructed with Commonwealth assistance, the whole equation is significantly altered. The Canberra Liberals position is that significant Commonwealth and/or private sector investment in such a project is a necessary precondition. However, good process demands that such a significant investment in infrastructure must be assessed in line with all the other infrastructure work required in the capital. The public could ask, very legitimately, whether a convention centre should be prioritised over health when many of Canberra’s health statistics have fallen to be amongst the worst in the country and are now the worst in Territory history. Similarly, roads are being constructed years late, tens of millions over budget and are barely coping with current traffic, let alone setting the Territory up for the future.

It is these basics that have for so long been neglected, have fallen so far behind, and which must now be addressed. It is projects such as this that led me to develop Infrastructure Canberra – a comprehensive plan to look at the infrastructure needs for the Territory not just for today and not just for business, but for the whole territory and for our long term future. Infrastructure Canberra is a holistic plan centred on an independent board of planning, engineering, technical and environmental experts who can professionally and dispassionately assess the needs of the Territory. Under Infrastructure Canberra, proposals such as a convention centre could be expertly assessed and a business case developed. Putting together a solid case through a rigorous process would make it far more likely that the Commonwealth would commit significant funds and potentially make such a project viable.

unique selling point. This has been recognised well by the Canberra Convention Bureau with their Think in Canberra branding, which plays to these strengths. The proposed Australia Forum seeks to build on those foundations, positioning itself as a ‘national hub for democratic dialogue.’ This is the capability Canberra needs – to be able to host events of national and political significance, events that should take place in close proximity to the democratic heart of our nation. In the tourism sector, stories abound of events that were not or will not be held in Canberra because we don’t have the capability. Constraints are not just in meeting venues – accommodation is also a barrier. The recent discussion about hosting the G20 meeting highlighted these issues. The ACT Government’s approach of partnering with NSW and hosting the preparatory and ancillary meetings is pragmatic, but

Canberra should be capable of hosting meeting such as the G20 in our own right. G20 meetings don’t come along every day, but the growth in the conference and international associations meetings sector, and domestic demand to meet where government is done, provide the impetus for having an appropriate facility. There are question marks if we decide a new facility is needed. How will we fund it? Is it the ACT or Commonwealth Government’s responsibility, or can we structure a successful private/public partnership? Will the era of cheap air travel continue, or will peak oil and the need to reduce carbon emissions fundamentally alter the international tourism and business travel sectors? The hard analysis needs to be done on these questions and many others to make sure that we develop the right answer for Canberra, not simply copy what some other city has done.

B 2 b I n C a n b e rr A M A R C H 2 0 12

Our connections make the world of difference.

RSM Bird Cameron boasts close connections to RSM member firms literally across the globe. This enables our clients to enjoy ready access to worldâ&#x20AC;&#x2122;s best practice, international insight and expertise. For Australian companies wishing to expand their business internationally, our connections really do make a world of difference... Connected for Success.

www.rsmi.com.au Assurance l Business Advisory l Corporate Finance l Risk Advisory Tax l Turnaround and Insolvency

ADVICE 26 26

ACCOUNTING

BUSINESS RELOCATIONS

BUSINESS SERVICES

CORPORATE GOVERNANCE

MARKETING

ESTATE PLANNING

TALENT SERVICES

WEBSITES

Are you in business with someone? by Nathan Nash, RSM Bird Cameron

BUSINESS LAW Redundancy – How can I protect myself? by Numira Kuruppu, Elringtons Lawyers

Organisations on the move – A case study By Gary Green, Allied Pickfords Business Relocations

PPSA heralds a new era in business By Tony Lane, Kazar Slaven

Crisis Management: Lessons from the frontline By Phil Butler, Australian Institute of Company Directors

Leave a big impression not a big footprint By Mary Curran, Brandnet

Case Study: The Peter Brock Story By by Stephen Bourke, Certus Law

Job fit is critical! By Keith Cantlie, Cantlie

Facebook Timeline – story of your life! By Sam Gupta, Synapse Worldwide

B 2 b I n C a n b e rr A M A R C H 2 0 12

ACCOUNTING

Nathan Nash

BUSINESS LAW

Are you in business with someone?

Would you be happy to be in business with their spouse or beneficiaries? If something happened to you would you want your family to receive adequate consideration for your business share? It is surprising the amount of business purchases that have been undertaken without adequate partnership agreements covering buy-sell, or buyout, provisions. From the initial stages of a business purchase consideration needs to be given for a number of events that may eventually cause the exit of a business partner. This is often documented in a Buy/Sell agreement that outlines a number of events that may trigger the exit of a business partner, the valuation methodology for the business and the funding mechanisms.

“To protect the business and ensure an orderly transfer of ownership, a buy/sell agreement should be considered as part of a broader succession planning process” It may be thought of as a sort of premarital agreement between business partners/shareholders which could undoubtedly save a great deal of angst and money should an event occur. It takes the coordinated effort of a team of professionals, including an accountant, lawyer and financial advisor, to implement an effective buy/ sell agreement. The benefits of buy/sell agreements are invaluable. They provide people with peace of mind and an agreed set of terms. The two major benefits are: 1. Ensures your interest in the business is transferred to the remaining principal(s) in an orderly manner in the event of a predetermined trigger such as death or disability; and 2. Enables you, your estate or your dependants to receive adequate financial consideration. “To protect the business and ensure an orderly transfer of ownership, a buy/sell agreement should be considered as part of a broader succession planning process” Having this business insurance eliminates the need to realise illiquid assets, prevents the loss of value through having to sell assets at the wrong time, prevents disputes between the exiting proprietor or heirs and the remaining proprietors and provides financial certainty. You will ensure business interest is transferred to the remaining proprietors on the proprietor’s death or disability and that ongoing business is continued by the remaining proprietors without interference from the outgoing proprietor’s family.

Nathan Nash is a Certified Financial Planner at RSM Bird Cameron Financial Services. If you would like more information on this subject Nathan can be contacted on (02) 6247 5988 or nathan.nash@rsmi.com.au.

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B 2 b I n C a n b e rra

by Numira Kuruppu

Redundancy – How can I protect myself?

Business owners who are restructuring or downsizing their business may have to deal with making one or more employees redundant. To ensure that a redundancy is genuine, business owners should be aware of some key issues.Under the Fair Work Act 2009 (Cth) (“the Act”), a dismissal is not unfair if: • the employer no longer requires the employee’s job to be performed by anyone; and • the employer has complied with relevant obligations in an award or enterprise agreement. Consultation While there is no requirement in the Act for consultation, some awards outline a consultation process which should be followed. Where redundancy of a number of employees is being considered, consultation may also be prudent to provide clarity of process to all employees, and assist in employee selection. Redeployment A redundancy will not be regarded as genuine if it is reasonable in the circumstances for the employee to be redeployed within the business or an associated business or entity. Employee selection Business owners should be able to justify why a particular employee has been chosen for redundancy over another and the selection should be based on business requirements. Notice period The notice period to be given to the employee depends on their length of continuous service and their age. The employee can be paid in lieu of the notice period. Business owners should be mindful that continuous service can include employment with a previous business – for example where a business has been purchased and continued or a business entity has ceased to exist but a principal of that business has started a similar business with the same operations and resources. Redundancy payment A redundancy payment is in addition to any payment in lieu of the notice period. It is calculated on length of continuous service, but an employee is not entitled to a redundancy payment if the employer is a small business or the length of service is less than 12 months. Business owners should make sure to check any applicable award, as the small business and length of service exceptions may be overridden by provision for redundancy payment in an award. Am I safe? Even if you address the issues above, it may not prevent a disgruntled former employee from making a claim for unfair dismissal. You the employer will then need to prove that the redundancy was genuine, which is a costly and time consuming process. If this occurs, you may want to brace yourself for paying a little extra redundancy for surety and peace of mind.

Numira Kuruppu is a solicitor at Elringtons. Contact Elringtons T: (02) 6206 1300, Level 7, 221 London Circuit, Canberra City visit: elringtons.com.au

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BUSINESS RELOCATIONS

by Gary Green

Organisation on the move A case study

APBR were asked to submit a tender for the relocation of Offices and Laboratories within the Australian National University. The relocation consisted of relocating four floors of offices and laboratories and all specialised equipment within them, from the old building into newly constructed laboratories within a specified time frame. This was time critical as the demolition of the old laboratories had been set. Consultants from Allied Pickfords attended the site and completed a walk through with the client assessing the volume of files and records to be relocated as well as office furniture. At the same time they estimated the volume of chemicals and laboratory equipment to be relocated. Allied Pickfords then submitted their tender as per the tender requirements and were the successful tender. Allied’s assigned project manager met with ANU staff and advised on how the relocation was to take place. He also advised how the specialised equipment would be relocated causing the least amount of down time to each laboratory (so as to not to jeopardise any ongoing experiments.) The Allied’s Project Manager then liaised with all specialist providers of laboratory equipment and worked out a suitable time frame to relocate their items within the schedule set by the ANU. He then met with all team leaders prior to the relocation and advised on the move process and advised on packing requirements and answered any question that they had. The relocation was then carried out meeting the time frame set by the university with two days to spare. The whole relocation was completed within six weeks. Interview with the client. S.F who was the move coordinator for ANU. GG. How did you choose to contact APBR ? S.F From past experience we were very happy with their services provided and we felt they could undertake this relocation if successful. GG How did you find the inspection process prior to tendering? S.F It was very thorough and accurate GG Acceptance of the tender why did you choose APBR? S.F Value for money competitive within the market , also knowledge from previous that all works are accurately included in the tender and extra costs are unlikely. GG How was the move process? Were there any special requirements? S.F The move process went exceedingly smoothly, well co-ordinated to reduce down time to research. Specialist scientific instruments moves were also well managed. What we have always liked about Pickfords is not only the advise but the 2 way communication after you advise, you listen and refine plan to meet our needs. GG Any problems and how were they dealt with? S.F Any problems were only minor and managers and operatives were all very responsive in meeting needs of staff. G.G Your overall experience with the relocation? S.F Overall a pleasure to deal with and many compliments from the staff be relocated.

Gary Green can be contacted at Allied Pickfords Business Relocations on 0423806702. visit: www.alliedpickfords.com.au

M A R C H 2 0 12

B 2 b I n C a n b e rra

BUSINESS SERVICES

By Tony Lane

PPSA heralds a new era in business

Approximately six months ago in this column, I alerted readers to the impending implementation of the Personal Property Securities Act 2009 (“PPSA”). 30 January 2012 marked the introduction of the PPSA in what is widely expected to be the most extensive reform to business law since the GST. The PPSA triggers profound changes in the way security is taken over personal property. Financiers and businesses operating across all industries will be affected. The PPSA applies to almost all forms of tangible and intangible property owned by any type of legal entity including money, goods, motor vehicles, hire purchase agreements, accounts receivable, long term leases, investment securities and documents of title.

There are many new concepts to understand an apply – some of the most vital being ‘collateral’, ‘grantor’, ‘secured party’, ‘attachment’, ‘security agreement’ and ‘perfection’. Perhaps the most important impact of the PPSA is the most ignored – the concept of ‘title’ in dealing with property is no longer relevant. There are many new concepts to understand an apply – some of the most vital being ‘collateral’, ‘grantor’, ‘secured party’, ‘attachment’, ‘security agreement’ and ‘perfection’. Collateral is the PPSA terminology for any secured property. Attachment occurs when a security interest attaches to collateral where the grantor (i.e. the business) has rights in the collateral and accepts money or does something else that gives rise to a security interest for the secured party (i.e. a lender, lessor or credit provider). The security agreement must set out the security interest and must generally be in writing to be enforceable against a third party (i.e. another secured party). Finally, the security interest must have attached, be enforceable against third parties and be perfected in one of three ways: 1. The secured party is in possession of the collateral; or 2. The secured party is in control of the collateral; or 3. The security interest is registered on the PPSR by the secured party. Critically, grantors (businesses) and secured parties (lenders, lessors etc) must understand that an unregistered, or unperfected security interest vests in the grantor entity upon insolvency. Now, a liquidator or bankruptcy trustee may be free to sell assets that might previously have reverted to a supplier or lessor on insolvency under retention of title or lease contract terms. The effect of this will be to reduce the priority of the secured party as against a liquidator, administrator or trustee to that of an ordinary unsecured creditor. Businesses, especially suppliers and lessors, must act promptly to ensure their assets are secured under the new law. Tony Lane is a senior manager at Kazar Slaven and provides advice to clients in the areas of insolvency, business risk and financial conflict and dispute resolution. For more information, contact Kazar Slaven, Level 3, 11 National Circuit, Barton. T: 6215 8405 F: 6215 8450 E: admin@kazarslaven.com.au W: www.kazarslaven.com.au

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CORPORATE GOVERNANCE

by Phil Butler

Crisis management: Lessons from the frontline

It is one year since Australia felt the full brunt of nature’s fury with cyclones and extreme flooding. These events were tragic in terms of loss of life and for the ongoing impact on communities. In Canberra we were spared the events of last year, but we know only too well how the impact of bushfires on our community. What is less obvious is the impact on businesses.

Business contingency and continuity plans are a vital step towards ensuring business survival through times of crisis or hardship. Business contingency and continuity plans are a vital step towards ensuring business survival through times of crisis or hardship. While business and government are now better prepared for environmental disaster there is still a way to go, and it is amazing how quickly we forget the lessons from the past. Many of the lessons learnt from the previous year are obvious check the fine print on your insurance policies, and ensure your business continuity and crisis management plans are flexible enough to withstand the worst. Good corporate governance dictates that crisis management is an integral part of the board function and an indispensible part for a sole director with a small business. Crisis management plans should cover specific continuity plans, setting up arrangements to ensure resilience and survival of your business should a disaster or headline risks occur. In these situations, communication is king - directors need to ensure communication plans are in place to relate important information to both external and internal stakeholders. Major considerations for any crisis management plan should cover: A focus on actions before, during and after a crisis; • Areas like finance, security, human resources, OH&S, risk management and technology; • Business continuity plans (BCP) - be sure to consider data processing, resources, storage, networks, back-up and recovery procedures and logistics; • Clear roles and duties for everyone involved in crisis management; • A crisis communication plan, including media plans, disclosure obligations and a clear strategy that will be communicated; and • Integrated and robust overall plan, to ensure that it can remain flexible. The key lessons form those who have experienced such events is to make sure that your business has the appropriate management plans in place!

Phil Butler is state manager of the Australian Institute of Company Directors’ ACT Division. For more information about AICD ‘s course programs and events, T: 02 6248 5954.

M A R C H 2 0 12

B 2 b I n C a n b e rra

MARKETING

by Mary Curran

Leave a big impression not a big footprint

In today's world of environmentally conscious consumers, it's no longer enough to just offer incredible service and a fantastic product. Nowadays, your offering needs to quieten that little voice by ticking the environmentally friendly box too. Those born after 1995 have little patience for non recyclers, being the first generation in an environmentally conscious world. So, if you haven't considered the environmental impact of your business up until now maybe it's time you did. Just like your brand is your personality, your corporate philosophy on the environment is your soul.

With the use of recycled, organic and biodegradable materials in promotional products increasing all of the time, planet friendly solutions are becoming more readily available every day. We all know there are many methods of marketing your brand and no ones disputing that e-marketing would be the most environmentally friendly solution, but wouldn't you as a consumer rather something a little more personal? In Canberra we've all had to change our habits recently with the abolition of plastic bags. A shift that has seen many a shopper struggling out of the supermarket with arms full of groceries, even sticking out of coat pockets or handbags! Those businesses who were ahead of the game struggled with the increased demand on their 'free bags' and the question begged 'should we charge?' Well ask yourself this - wouldn't you like to be the one who swoops in and saves the day by giving your customers FREE reusable shopping bags? I know one local chemist chain did.....and that really matters. When you think of promoting your brand in an environmentally friendly way most people would steer clear of promotional products. For those of you who know the benefits of rewarding clients with something both useful and personal you can now be comforted by the fact that big changes continue to be made in this industry. With the use of recycled, organic and biodegradable materials in promotional products increasing all of the time, planet friendly solutions are becoming more readily available every day. And if you are prepared to wait that little bit longer they can come by sea and not air saving a further 30 times the emissions as well as a few dollars! So when you sit down to plan your next marketing move remember to leave a big impression and not a big footprint.

Mary Curran is the business & brand manager at Brandnet. P 02 6123 2990 F 02 6280 9966 W www.brandnet.com.au E mary.curran@brandnet.com.au

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ESTATE PLANNING

Case study: The Peter Brock story It is a lesson for any one in a blended family to get appropriate legal and financial advice when preparing their Estate Plan. The Estate of Peter Brock is a salutary lesson for the blended family. At the time Peter Brock died suddenly in a tragic racing accident there were three competing wills however only one could be admitted to probate. It was left to the court to decide which was the valid will and therefore who would get his then $3.3 million estate. The first will was drawn by a solicitor in 1984 which effectively gave the estate to his parents, his defacto partner Beverly and his three children by way of a testamentary trust.

At the end of the court battle but it is likely a substantial portion of the estate was eaten up in legal fees and court costs. If Peter Brock had prepared his estate as well as he prepared for his races perhaps he would have been able to avoid the mess and emotional stress he left for his loved ones. In 2003 as his parents had died he decided to do a new will so he instructed Beverley to buy a “will kit”. He sat down in his home office with Beverley and his then secretary. Mr Brock filled in some of the details of the will such as his personal details, the appointment of the executor and funeral directions. He did not complete the part of the will disposing of his property saying he would leave that for Beverly to complete at the time of his death. He then signed the will and it was witnessed by the secretary. Beverly did not witness the will. In 2005 Peter and Beverly Brock separated and he formed a new relationship.

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M A R C H 2 0 12

B 2 b I n C a n b e rra

In 2006 Peter Brock had an employee acquire another will kit and instructed her on how to complete it. About halfway through the employee told him it was too complicated and he should see a lawyer. He never completed the will. That will gave his “super” and shares to his children and other gifts to his new partner to whom he was engaged. The will was never signed. The question for the court was which will should be admitted to probate? 1. The 1984 will was a valid will and if not revoked could be admitted to probate. As Peter Brock’s parents had died the estate would have gone to his children and Beverly Brock. 2. The 2003 will was only signed by Peter Brock and one witness (you need 2 witnesses for a will to be valid). 3. The 2006 will was not signed and was incomplete. It did however set out some gifts. The court determined early in the proceedings that the 2006 will was not valid so the contest was between the 1984 and 2003 wills. Eventually the court determined that the 2003 will was valid (despite the irregular witnessing of the will). This had the effect of revoking the 1984 will. However the 2003 will did not actually do anything with the estate. The effect was that Mr Brock effectively died intestate. It was not until 2009 some 3 years after Peter Brocks death that the parties were able to come to a settlement and divide his estate. At the end of the court battle but it is likely a substantial portion of the estate was eaten up in legal fees and court costs. If Peter Brock had prepared his estate as well as he prepared for his races perhaps he would have been able to avoid the mess and emotional stress he left for his loved ones. It is a lesson for any one in a blended family to get appropriate legal and financial advice when preparing their Estate Plan.

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TALENT SERVICES

by Keith Cantlie

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Job fit is critical!

Since the establishment of Cantlie seven years ago, there have been significant changes in the Canberra employment market although one thing that has remained constant is the race for talent. In 2005 there was a different employment landscape with some employers making recruitment decisions based purely on the immediate needs of the business. Whilst achieving the goal of filling a role, employers did not always achieve the best outcome in getting the right fit for the long term needs of their organisation. It was somewhat of a quick fix solution which in the end is not necessarily the best outcome for the employee or the employer.

if the fit isn’t right, it doesn’t matter how technically competent a candidate is, the engagement will not be successful in the medium to longer term. Whilst this demand for specialist talent continues even today, employers are becoming more focused on the employees fit to the organisation rather than just technical ability alone. Determining fit is a critical component of any selection process; if the fit isn’t right, it doesn’t matter how technically competent a candidate is, the engagement will not be successful in the medium to longer term. When sourcing talent it is critical to have the mechanisms and processes in place to assess both technical and organisational fit prior to making a selection decision. Whilst technical expertise is relatively easy to determine, fit is a lot harder. Most employers use “gut instinct” to decide whether someone is right for them; this is effective in some cases although it won’t enable you to make the best decision each time. Your decision can be supported by utilising “fit assessment tools.” We have found that utilising these tools as part of our talent sourcing process has achieved a much better outcome for both the individual and the organisation. Some of our customers assume that if they want to recruit a position or source talent they need to engage a recruitment organisation to undertake a full recruitment process. This may be true in some cases although not always. We have shown our clients how to break down the sourcing process, taking advantage of the parts that are critical to them. It may be as simple as completing a “Job Analysis”, which is complimentary to Cantlie clients and then to complete further competitively priced individual assessments. To find out more on how we can help you get the right “job fit” and source the best talent for your organisation contact myself or Angela Cusack, General Manager Recruitment and Consulting Services on 02 6239 7755

Keith Cantlie, Managing Director Corner Flinders Way and Murray Crescent, Manuka ACT 2603 T: 02 6239 7755 | keith@cantlierecruitment.com.au

M A R C H 2 0 12

B 2 b I n C a n b e rra

by Sam Gupta

Facebook Timeline – story of your life!

What an idea! It is one of those things: you won’t know what you were missing until you see it. In September, Mark Zuckerberg launched ‘Timeline’ along with social app for music and videos, new facebook profile layout and a bunch of other features.

'Timeline' provides your marketing team a great platform to manage brands. From the time your business was incorporated, to the present date, you can put all about your business on one page. So what is Timeline? Facebook created a vertical timeline starting from the top, being the present to as far back as you would like to go in the timeline. From your birth to various milestones of your life, this app really allows you to tell the story of your life on a single page. You can add photos, videos, events and even other apps to your timeline. Small unimportant updates will auto-hide on the time line and significant ones such as birthday parties, will be more prominent. You can mark items as ‘featured’ if you like. In simple words, it allows you to express yourself better on your profile page. 'Timeline' is HUGE for businesses, brands and celebrities. It provides your marketing team a great platform to manage brands. From the time your business was incorporated, to the present date, you can put all about your business on one page. Add corporate or community events your business was involved in, add promotions you run, trade shows you may have attended, change of location, feature awards you may have won, event photos and pretty much any milestones of your business. The possibilities are endless! Privacy concerns? For personal use, be careful what you make public. For business pages, it is up to you how you wish to share information with your fans and public. For photos and videos, be sure to take everyone’s consent first. If you want to find out more about Facebook Timelines, visit www.facebook.com/about/timeline. Let me know what you think of it anyway. Give me a call on 1300 785 230 or send an email to admin@synapseworldwide.com. Have a nice day.

Sam Gupta is the managing director of Synapse Worldwide. Sam would love to hear your thoughts on this advice column. Please contact him on 1300 785 230 or admin@synapseworldwide.com

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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

The world economy is in decline, yet the Australian economy is doing well. What does this mean for the ACT economy?

The year of uncertainty CHRIS FA u L K S

CEO Canberra Business Council

AFFILIATED WITH

he world is once again in the grip of economic turmoil due in large part to the public debt crisis in Europe. Though originating in smaller countries such as Greece, Ireland and Portugal, the concerns over sovereign debt have spread to other parts of Europe, putting the future of the Euro in jeopardy. The crisis has created fragility and malaise in other parts of the world, reflected in the latest International Monetary Fund (IMF) growth projections: world output is now forecast to drop from 3.8% in 2011 to 3.3% in 2012. Unsurprisingly, Europe leads the negative outlook with growth expected to fall from 1.6% to -0.5%. In the US, growth is tipped to decline from 3.0% to 1.8%. Even China will dip slightly, down from 9.2% in 2011 to 8.2% in 2012.

Knowing the resilient and innovative nature of ACT businesses, I remain positive on our outlook. But I this year could be a tough one for some local businesses.

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In contrast to this, Australia’s annual GDP growth rate, seemingly unaffected by the global slowdown, is officially forecast by Treasury to rise from 2.1% in 2011 to 3.3% in 2012; the Organisation for Economic Cooperation and Development (OECD) predicts a slightly more optimistic growth rate of 4.0%. The present unemployment rate of 5.2% is not expected to rise this year, and the rate of inflation is also stable at 3.1%, likely to fall slightly over the course of the year. In short our economy is sound, and we continue to be insulated from events overseas. One of the reasons for this is that the Reserve Bank of Australia (RBA) has kept a firm hand on monetary policy, reacting to allay fears of a flow-on of global problems to the local economy by cutting the official cash rate, down from its recent peak of 4.75% in late 2010 to 4.25% at the end of 2011. As a result, consumer confidence, reflected in indicators such as the Westpac Melbourne Institute Index of Consumer Sentiment, increased by 2.4% at the start of this year, reversing the gradual decline which began in early 2010. However, while consumers seem more optimistic regarding the outlook for 2012, they are still exercising great caution, which is why retail trade turnover has shown minimal growth over the last six months. B 2 b I n C a n b e rra

Logically, our greatest exposure to risk lies in our export-orientated industries. While official trade figures show that our exports grew by 17.3% in 2010-11, much of this is due to the continued growth in investment in the mining industries, and the resulting windfall they provide. The world still needs our natural resources, but our services are experiencing declines in some areas such as tourism. The ongoing effects of the strong Australian dollar have also seen our trade surplus fall slightly to $1.4 billion. Interpreting the impact of these variables on the ACT economy is difficult. Let’s compare the Territory’s economic health against the rest of the nation. Our Gross State Product (GSP) was 2.8% in 2010-11, second only to Western Australia’s miningboom-driven 3.5%. ACT exports were up 9.5% to $1.2 billion in 2010-11. Our unemployment rate is currently the lowest in Australia at a steady 3.8%. This all seems quite positive, but there are signs of trouble which need to be heeded. Our retail trade sector for example showed a recent decline in growth of 1.9%. Furthermore, if we examine our GSP closely, most of the growth last year came from public administration (i.e. Government) and construction, two sectors which can just as easily contract as expand in any given year based on impulsive Federal and ACT Government decisions. The Federal Government’s increased efficiency dividend, a cost-cutting measure set to come into effect on 1 July this year, is a good example of such a risk. Knowing the resilient and innovative nature of ACT businesses, I remain positive on our outlook. But I this year could be a tough one for some local businesses. ABS statistics just released show that the survival rate for businesses in the ACT continues to be the lowest in Australia at just 57%. And an ACT Election also looms in October, further adding to the uncertainty - but at the same time opening up an opportunity for greater business input into government decision making. This is an opportunity Canberra Business Council will be seizing, along with your help, to ensure that we can mitigate any risks responsibly, and navigate this year of uncertainty safely. T 6247 4199 E info@canberrabusinesscouncil.com.au www.canberrabusinesscouncil.com.au

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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

Student populations bring with them new talent and new energy, two things Canberra thrives on...

Canberra, the learning capital

T R E VA R CHILVeR

DIRECTOR OF EMPLOYMENT, EDUCATION AND TRAINING

Education is Canberra’s second-largest industry, and we certainly punch above our weight. With a population of only 350,000 we are home to two universities and host campuses for three more. We have a large public Vocational Education and Training (VET) provider, and a hundred more private providers across the city.

The opportunity, though, is to make Canberra a city that students from all over Australia and the world think of as they’re considering where to learn.

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M A R C H 2 0 12

The ACT Government has been eager to see Canberra’s reputation as a ‘learning capital’ develop further, and this is going to be a great year for this goal to be pursued. This month, the Career Development Association’s annual conference comes to town, and in October, the VET Network will be here for their biennial conference. The Career Development Association of Australia (CDAA) is the leading professional association for career development professionals in Australia. The CDAA supports thousands of career counsellors, based in industry, government, education and community programs across the country, to stay abreast of and lead developments in this everchanging environment. This is a landmark year for the industry, as professional standards come into effect, providing stability and quality for clients from all walks of life. The CDAA Conference will bring to Canberra experts on employment and career development from a wide range of backgrounds. Among them, Rich Feller, who teaches counselling and career development at Colorado State University, and is also president of the National Career Development Association, the CDAA’s American counterpart. He is joined by Jason Clarke, one of Australia’s most soughtafter creative minds on leadership and innovation in businesses. Along with them, Denise Goldsworthy, Telstra’s Business Woman of the Year, and managing director of Rio Tinto’s subsidiaries Dampier Salt and HIsmelt, will share insights into managing more than 500 employees and a large global customer base.

B 2 b I n C a n b e rra

Bringing high-profile leaders like these and the myriad of others to Canberra not only provides a professional development opportunity for business leaders and career development practitioners, it gives us an opportunity to showcase the quality of career development opportunities (educational as well as counselling) available in Canberra, while also strengthening those offerings. Local business leaders should consider attending, and those organisations offering education and training or other career development opportunities, should consider an exhibition spot. Later in the year, the Vocational Education and Training Network (VET Network) will bring to Canberra hundreds of VET practitioners and experts from the field to explore the challenges and opportunities in their industry. Change in this field is a constant, and the weight of current changes in accreditation and delivery is astounding, making it the perfect time for training organisations and businesses in Canberra to engage in the national dialogue. The VET Network Conference will bring to Canberra high-profile innovators including Nils Vesk, an innovation architect, and Darren Hill, a behavioural scientist. Along with a host of other speakers, they will engage participants in conversation about supporting the engagement of young people in education, leading to successful transitions. Already, Canberra has both the most highly educated and most highly paid workforce in the country. The opportunity, though, is to make Canberra a city that students from all over Australia and the world think of as they’re considering where to learn. Student populations bring with them new talent and new energy, two things Canberra thrives on. This will be a great year to get involved, and to show the country that Canberra is the learning capital. If you would like any more information about getting involved with the two conferences coming to town this year, contact Trevar at the Chamber on (02) 6283 5200 or look into the conferences’ websites: for the CDAA go to http://www.onqconferences.com. au/CDAA12/index.html, and for the VET Network go to http://www.vetnetwork.org.au/.

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