127 JUNE / JULY 2017
B2BMAGAZINE.COM.AU
COVER STORY
Vantage Strata: A new perspective for property services (p.15)
Neilan Stramandinoli Family Law a small firm with big experience (p.12) Say goodbye to your IT blues with WOTlink (p.6)
Support our community’s unpaid carers this EOFY (p.8)
CONTENTS
15
ISSN 1833-8232
COVER STORY
Vantage Strata: A new perspective for property services Photo: Kasra Yousefi
PUBLISHER'S NOTE 3 Time to reflect by Tim Benson SMART BUSINESS TIPS 3 Tips to wrap up the financial year by Smart Business Guardian UPFRONT 4 What the super reforms mean for your estate planning by DDCS Lawyers 4 Strata Committees – sharing the knowledge by Strata Community Australia FEATURE 6 Say goodbye to your IT blues with WOTlink by Tim Benson 8 Supporting our community’s unpaid carers by Carers ACT 10 Hot tips for small business by RSM 12 Neilan Stramandinoli Family Law - a small firm with big experience by NS Family Law 18 Separating couples: go your separate ways but together by Separate Together ADVICE 21 ACCOUNTING Tips for the new financial year by RSM 21 BOOKKEEPING AccountantChange #2020 and the future landscape of the accounting industry by Tailored Accounts 22 BUSINESS LAW Debtor management by Bradly Allen Love Lawyers 22 CASH FLOW SOLUTIONS Need working capital? Your Accounts Payable ledger may hold the answer! by Fifo Capital
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CYBER SECURITY Enterprise Architecture:The foundation of good security by Cordelta 23 INSOLVENCY Ombudsman’s observations on those overdue by Vincents 24 INTELLECTUAL PROPERTY Procurement of goods & services by Moulis Legal 24 REAL ESTATE Perfect time to downsize by Maloney's property 25 RECRUITMENT ‘Sedate’ pay rises of sub-three per cent ahead for most by HAYS - Recruiting experts worldwide 25 STRATA MANAGEMENT Building security alert by Vantage Strata 26 THINK RESULTS How will I change the organisation? by Dipac & Associates 26 WEBSITES Nine rules I follow when creating successful websites by Synapse Worldwide A2B: ASSOCIATIONS TO BUSINESS 28 Business sector coming of age in Canberra G2B: GOVERNMENT TO BUSINESS 30 Bringing the best to Canberra BUSINESS NETWORKING 32 B2B @ RSM Farewell Function - Mitchell Herrett 34 B2B @ RSM 2017 Federal Budget Presentation
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EDITOR / PUBLISHER Tim Benson editorial@b2bmagazine.com.au 0402 900 402 02 6112 8175 PUBLISHED BY Man Bites Dog Public Relations ABN 30 932 483 322 PO Box 4106 Ainslie ACT 2602 b2bmagazine.com.au ADVERTISING B2B Magazine advertising@b2bmagazine.com.au 0402 900 402 02 6112 8175 EDITORIAL ASSISTANT Termeh Garmestani termeh@b2bmagazine.com.au 02 6112 8176 DESIGN
Kasra Yousefi kasra.com.au 02 61128195
LEGAL NOTICE Man Bites Dog Public Relations (‘MBD’) owns the copyright in this publication. Except for any fair dealing as permitted by the Copyright Act 1968 (Cwth), no part of this publication may be reproduced without the prior written permission of MBD. MBD has been careful in preparing this publication, however: it is not able to, and does not warrant that the publication is free from errors and omissions; and it is not able to verify, and has not verified the accuracy of the information and opinions contained or expressed in, or which may be conveyed to readers by any advertisement or other publication content. MBD advises that it accepts all contributed material and advertisements contained in this publication in good faith, and relies on various warranties and permissions provided to it by the persons who contribute material and/or place advertisements. Those warranties and permissions include that neither the material and/or advertisements are misleading, deceptive or defamatory, and that their use, adaptation or publication does not infringe the rights of any third party, or any relevant laws. Further, MBD notifies readers that it does not, nor should it be understood to endorse, adopt, approve or otherwise associate MBD with any representations made in contributions and/or advertisements contained in the publication. MBD makes no representation or warranty as to the qualifications of any contributor or advertiser or persons associated with them, and advises readers that they must rely solely on their own enquiries in relation to such qualifications, and be satisfied from those enquiries that persons with whom they deal as a result of reading any material or advertisement have the necessary licences and professional qualifications relating to the goods and services offered. To the maximum extent permitted by law, MBD excludes all liabilities in contract, tort (including negligence) and/or statute for loss, damage, costs and expenses of any kind to any person arising directly or indirectly from any material or advertisement contained in this publication, whether arising from an error, omission, misrepresentation or any other cause.
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PUBLISHER'S NOTE
Time to reflect
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ow, where did the first half of 2017 go? It’s really been a bit of a whirlwind. But, no rest for the wicked. Bring on the snow I say. I love winter in Canberra. The frosty mornings. Ice on the windscreen. Fog in the streets. Warm coats. Woolly hats. Gloves and heavy coats. Those temperatures that get down to close to -10 degrees Celsius … ok well, maybe not that bit so much. So, what does winter mean for business? Well, it harks the new financial year. A milestone for all of us that have the privilege of running a business. It makes us take stock of the year Maybe it’s my age and that has just passed and the ‘shades of grey’ thing, plan for the year ahead. It is the opportunity to but I think all levels of take a breath and think about what is important government are tightening in our business lives. An the purse strings and opportunity to set some dropping the ball a bit more goals for the year ahead. To look at your team and when it comes to local assess their performance community not-for-profit and attitude towards your vision and direction. (NFP) organisations. Sometimes this can be a hard and uncomfortable task and difficult discussions may need to be had. But don’t shirk this duty. It will come back and kick you in the butt twice as hard next year. Most importantly have a good long hard look at yourself. Are you being honest with yourself? Are you living up to your expectations? What are the things you can do to improve your performance? Sometimes these can be small steps and improvements. Sometimes it can be an attitude shift. Sometimes it can be major, life altering change that turns your current world upside down. So, use this time wisely and make those decisions that will lead to fulfilling your dreams.
Direct your tax dollars One decision I would like to see this financial year is for more businesses to support local community organisations. Now, my view until recently is that we pay our taxes and charges and then the governments in their collective wisdom distribute that money to organisations to perform community functions that we can all enjoy. Maybe it’s my age and the ‘shades of grey’ thing, but I think all levels of government are tightening the purse strings and dropping the ball a bit more when it comes to local community not-for-profit (NFP) organisations. Therefore, if they’re not going distribute your taxes to local NFP organisations after you’ve paid them, then I highly recommend you do it first and claim the tax deduction. There are many organisations out there that desperately could do with another five, 10 or 15 thousand dollars. It could make all the difference for them. So, talk to your bookkeeper, accountant, staff, loved one etc and make a decision to support a local not-for-profit this EOFY.
Tips to wrap up the financial year Kristin Miller General Manager Smart Business Guardian
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t is the time of year that all people in the finance sector get excited about - 30 June. Previously we have listed items you need to take care of before the end of the year. This time we are going to provide a checklist of things you need to get done during July /August to wrap up the financial year so you can move forward. So, start ticking off the list below: • Prepare Payment Summaries and provide to your staff by 14 July • Prepare the Payment Summary Annual report to provide to the ATO by 14 August • Pay your Super Guarantee Payments for the June quarter buy 28 July • Prepare the ATO taxable payments report and submit to the ATO by 28 August • Check your accounting software is updated for new wage levels and tax tables from 1 July • Collate paperwork and information for your accountant to complete your 2017 tax return • Set up a new system to keep your 2017/2018 paperwork If you need any assistance in getting through this list feel free to contact us and we would be happy to help. (02) 6162 1928 49 Phillip Avenue, Room C205, Watson, ACT 2602 smartbusinessguardian.com
Tim Benson, Publisher Send all comments to: editorial@b2bmagazine.com.au
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UPFRONT
Winter is coming and so are changes to the superannuation system, starting on 1 July 2017. By Rebecca Tetlow
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ne of the major changes to the superannuation legislation is to limit the amount of superannuation that a person can have in a tax free pension environment. Members cannot transfer more than $1.6 million of their superannuation account into pension phase. As a result, many members will need to restructure their financial affairs. In addition, retirees who are receiving a defined benefit pension (such as a CSS or PSS pension) will have a formula applied to capitalise the value of that defined benefit pension, which will now count towards the $1.6m transfer cap. You should particularly get specialist legal advice which considers the following issues: 1. Is your Binding Death Benefit Nomination still appropriate? If you have previously nominated your partner to receive your superannuation after your death, and if after your death your partner would then have superannuation pensions of more than $1.6m, then you should get advice as to whether this is the most appropriate option. If you or your partner is receiving a defined benefit pension, this will also count towards the capital value of the pension. 2. Should you consider including a testamentary trust in your Will? A testamentary discretionary trust can provide tax flexibility for your partner after your death as it enables your partner to
distribute income between your family. Depending on your circumstances, and subject to financial advice, the inclusion of a testamentary trust in your Will may be a desirable vehicle for your surviving partner to manage their assets in a tax effective way after your death. 3. Do you have a blended family and superannuation? It is common for couples in a second relationship or blended families to have a tailored estate planning strategy that divides assets between different family members. Due to the tax treatment of super death benefits and the inability to nominate beneficiaries in some funds, superannuation is often a key element in estate planning for blended families. If you are in a blended family and you specifically considered your super when you last made your Will or updated super nominations, then you should get advice about whether the super reforms will have an impact on your estate planning. Rebecca Tetlow is a Partner in our Wills and Estates Team 18 Kendall Lane, New Acton, Canberra phone (02) 6212 7600 mail@ddcslawyers.com.au www.ddcslawyers.com.au
Strata Committees – sharing the knowledge By Robert Craven
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xecutive Committees serve a crucial function in an Owners Corporation, typically as the first point of contact for the Strata Manager in dealing with an enormous variety of issues ranging from noise complaints all the way through to preparing for the AGM. Executive Committee members are volunteers from all walks of life, elected at the Owners Corporation AGM with many of the same faces serving year after year, developing an invaluable corporate knowledge and often learning a thing or two along the way. There are no eligibility requirements to stand for the Executive Committee, however members are required to adhere to the Executive Committee code of conduct contained within the Unit Titles (Management) Act, which states that “An executive member must have— a commitment to acquiring an understanding 4
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of the Act, as relevant to the member’s role on the executive committee […]”. With the Act spanning over 150 pages, not to mention all of the supplementary legislation, there is no denying that attaining and maintaining that understanding is a significant task.
is currently underway for a further 5 events throughout the rest of the year to cater for the high demand. The sessions are free of charge, with tea, coffee, and light refreshments provided. If you would like to sharpen your skills
Strata Community Association has developed a national training program for current and prospective Executive Committee members, covering a range of topics including sense of community, governance, financial management, ethics, role of the Manager, use of motions and legal requirements. In recognition of that challenge, Strata Community Association has developed a national training program for current and prospective Executive Committee members, covering a range of topics including sense of community, governance, financial management, ethics, role of the Manager, use of motions and legal requirements. The first session in the ACT has been scheduled for mid-June, which received such an overwhelming amount of interest that it was booked out within 12 hours! Planning
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as an existing member of your Strata Community’s Executive Committee, or learn some more about contributing to the operation of your owners’ corporation, please email president.act@stratacommunity.org.au to register your interest.
Robert Craven President – Strata Community Association (ACT) www.strata.community
Photo: Christopher Ireland
What the super reforms mean for your estate planning
Eclipse Apartments Proudly Managed by Vantage Strata
Our experience is your advantage.
Strata Management / Facilities Management / Building Management
design: kasra.com.au
Developed by CHC Australia, the Eclipse Apartments have been designed with affordability and convenience in mind. 223 residential units are contained within multiple buildings spanning across a generous footprint of land. A number of commercial units face Braybrook on the ground floor offering a range of potential uses including office and cafĂŠ. Vantage Strata is proud to provide both Strata Management and full time Building Management services to Eclipse.
Telephone: 1800 VSTRATA (1800 878 728) Email: info@vantagestrata.com.au Office: Jamieson House 90/43 Constitution Avenue Reid ACT 2612 Postal address: PO Box 206 Civic Square ACT 2608
F E AT U R E
Say goodbye to your IT blues with WOTlink By Tim Benson
Anthony V. Miller, CEO WOTlink
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f you are in small business or have a team of employees, do any of the following scenarios bring back terrible memories or instantly raise your blood pressure because they are your worst fears: 1. Your office is broken into and your Apple computers and backups are stolen. 2. A family member gets onto your PC and wipes all the Outlook files. 3. A staff members leaves and removes all access to their files. All of these actually happened and were instantly remedied by WOTlink. WOTlink is your local IT guardian angel. They will setup, maintain and troubleshoot all of your IT needs for the fraction of the cost of doing it in-house. Anthony Miller, WOTlink CEO, says, “Each of our clients have a dedicated account manager who is totally focused on making the best-of-the-best applications in the world work brilliantly for them.” According to Anthony, WOTlink’s core package for not-for-profits and small business 6
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is called Hyperlink Your Office Pro (there are three models: Hyperlink Your Office Lite, Pro and VIP) and includes the best of the best in the apps marketplace and integrated services, saving businesses time and money. WOTlink loves seeing clients delivering on their vision, by helping them make the most of their IT investment. The Hyperlink Your Office model is now well patronised by hundreds of users included leading not-forprofits and associations. WOTlink’s costings are fixed price starting at $55.00 per user per month (incl GST). Some of the services included in this fixed price include: personalised IT management; ongoing maintenance and upgrades; unlimited and continuous, secure offsite backup; 24 x 7 phone, web and email support; anti-virus and threat protection for PC’s, Macs and smartphones; business grade email like Outlook Exchange and online remote support directly to PC’s and Macs. “Our monthly subscription saves clients thousands per annum, with proven results and economies of scale that far outperforms anything compared to do-ityourself or traditional IT support models” Anthony explained. WOTlink can also provide ad hoc support services at an hourly rate. This can cover additional support such as printer configuration, WiFi and phone setup. “At WOTlink there are no setup costs, no pressure, no and hassles, just grief-free IT. It is value guaranteed with one fixed monthly fee - it pays for itself.”
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“Our monthly subscription saves clients thousands per annum, with proven results and economies of scale that far outperforms anything compared to do-ityourself or traditional IT support models”
To find out more about Hyperlink Your Office please call Anthony Miller on +61 2 61003160 info@hyperlinkyouroffice.com.au www.hyperlinkyouroffice.com.au
ART GRANTS 2017
OPEN 7th July
APPLICATIONS CLOSE 12PM FRIDAY 1ST SEPTEMBER
CAPO grants to the arts cover all fields of creative endeavour for established and emerging artists. This includes singers, painters, sculptors illustrators, performers, dancers, jewellers, glass artists, photographers, publishers, poets, makers of films and video, digital artists, musicians and more. These grants are funded by CAPO through the auctioning of fine art gifted by artists and the financial support from business and the community.
APPLICATION FORMS & MORE INFORMATION AVAILABLE @ THE WEBSITE
www.capo.org.au
Erica Seccombe CAPO Fellow 2016, Residence within, 2017, Photogravure (etching). image 25 x 25 cm on Rives BFK, data courtesy Natural History Museum, London, detail
Barak Zelig Amplified 2015, plastic metal paper 17x17x14cm
2017
HELP CAPO SUPPORT THE ARTS IN CANBERRA AND THE REGION BY ATTENDING THE ANNUAL CAPO ART AUCTION AT CANBERRA MUSEUM AND GALLERY FRIDAY 22ND SEPTEMBER THE THEME
PUTTIN ON THE GLITZ
GOURMET FOOD • SUPERB FINE ART • GREAT LOCATION AND THE
CANBERRA CITY Big Band
6.45 pm - 11.00pm Live Auction from 9.00pm Early Bird $110 before 15th August $120 per ticket.
Marie Hagerty, Pioneer Woman 2014-16, oil on screen print (unique state) 77x57cm, detail
Bookings by phone CONTACT MARILYN GRAY 0407 512 296
OnLine Tickets available at
www.capo.org.au/tickets
q
GALA ART AUCTION
Erica Seccombe CAPO FELLOW 2016, A spider sewed at night, 2017, screen print, image 55 x 55, paper, 76 x 56 cm, data courtesy ANU Department of Applied Mathematics. detail
F E AT U R E
Supporting our community’s unpaid carers
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ook around you. One in eight Canberrans is an unpaid carer looking after a family member or friend who is elderly or living with a disability or with long-term physical or mental health conditions. Chances are some of your work colleagues are carers. Unfortunately, the caring role is often unappreciated and unidentified. Recognising yourself as a ‘carer’ is the first step to getting the help and support you need to make your life easier.
Impact of Caring Caring has a huge impact on a person’s ability to work, study and participate in the community. It can place enormous strain on the health and wellbeing of a carer, often leading to depression and anxiety if adequate support is not received.
Help is out there The good news is that there is help available for unpaid carers. Carers ACT offers a wide range of services that can improve a carer’s life. These include short-term in-home assistance and replacement care, short-term residential respite in an aged care facility, NDIS coordination, counselling, advice, referrals, support groups, disability day programs, education and training seminars, recreational activities and retreats, and even speaking up for carers to make sure their views are heard. To many carers, Carers ACT 8
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is their lifeline. As numerous carers have said “I don’t know what I would have done without them”.
Educating and relaxing our carers One of Carer’s ACT’s most popular support services is their monthly range of educational and recreational events which provide carers with the skills needed for their caring role and with opportunities for a much-needed social break. Improving a carer’s own mental health and wellbeing significantly improves both their ability to care and their relationship with their family member. Please see the website for details on upcoming events at www.carersact.org.au
Supporting young carers Juggling the teenage years can be hard enough, but having to take on the ‘parenting’ role when a parent has a long-term physical or mental illness or disability can be overwhelming. Carers ACT’s ‘Young Carers Program’ supports these young teens in their caring role through various financial, social and educational initiatives.
Did you know? • 1 in 8 Australians is a carer • There are 2 young carers in every classroom • Carers provide 1.9 billion hours of care eachv v year • Carers save our economy $60.3 billion each year • 62,000 people in the ACT have a disability • 78,000 people in the ACT have mental health needs • Almost 1/5 of carers only have social contact once every 3 months
TO DONATE If your workplace or clients would like to support the carers in our community they can make tax deductible donations to Carers ACT through www.givenow.com.au/carersact
Further information If you, or someone you know, is a carer, please encourage them to call us on 1800 052 222 or visit our website for further information on ways we can support them.
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Carers ACT 2/80 Beaurepaire Crescent, Holt P 1800 052 222 www.carersact.org.au
"Dodgy Dealings = Disaster"
This is Dodgy Dave This is Dodgy Dave. Dave likes to cook the books himself. This leads to Dodgy Dave ending up with a disastrous tax debt. Don't be a Dodgy Dave, let the professionals take care of the books and paperwork for you - our team of qualified bookkeepers, accountants and administration professionals at Smart Business Guardian will keep you in the good books. Don't delay, dial Smart Business Guardian today.
twitter: @sbguardian Telephone: +61 (0)2 5105 1395 49 Phillip Avenue, Room C205, Watson, ACT, 2602 www.smartbusinessguardian.com
HOT TIPS FOR SMALL BUSINESS By Trish Cassidy
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f you are a small business owner there are a myriad of business risk areas you need to be aware of. Trish Cassidy, Senior Manager of RSM Australia, has been involved in the restructuring and advisory industry for the majority of the past thirty years. She has seen many businesses successfully turned around as a result of early action on the part of directors and business owners. Unfortunately business failures usually occur where action is taken far too late to enable any chance of turnaround or restructuring. Being the best in your game is not enough in the world of small business. It doesn’t matter how good a builder, chef, salesman, or even IT contractor you are – if you don’t keep a close eye on the financial affairs of your business there is a very good chance of failure. There will always be events which may significantly impact upon your business which may be outside or your control, however early action to mitigate the risk will increase your business’s chances of survival when they do occur. Trish provides some essential tips to reduce your risk as either a business owner in your own right, or as a Director of a trading company.
RISKS AS THE SUPPLIER
Do you have exposure to one or a few major customers? What would happen if they can’t pay your bill?
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Reduce the risk of bad debts: Be aware of how the client is paying. Are they paying within your terms? Are they paying with debt factored finance as this can be an indicator of cash flow problems. Keep in touch with your customers – close contact can provide good and timely information on their circumstances. Are they giving excuses for non-payment, such as my customers haven’t paid me? Again, this can be an indicator of cash flow problems or even insolvency. Have your customer’s cheques bounced? Yet another indicator of cash flow problems. Don’t’ be fooled by a flashy exterior – flash cars, premises etc. – flashiness does not necessarily equate to solvency. Keep a close eye on your debtors ledger and any debts which are outside your terms – take early action to limit credit to customers who aren’t paying within your terms. Where possible, spread your risk – the more customers you have, the less risk to you if one of your customers fails.
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• If you are supplying goods, then ensure you have registered a PPSR – this is the only way you can recover goods if the customer’s business fails. • Ensure that you have a formal credit agreement, preferably containing a personal guarantee given by the business owner – that way if the business fails, you have some recourse to recover the debt from the owners personally.
RISKS AS THE CUSTOMER
Many businesses rely significantly on other business goods, to enable them to provide their own goods or services. What would happen if one of your key suppliers fails– will this impact upon your ability to deliver your own goods or services? Reduce the risk that you can’t deliver: • Seek out alternative providers of your essential supplies • If you are in the building industry for example – do not place sole reliance on one subcontractor or supplier. If they can’t deliver – you will need other relationships to enable you to meet your own targets.
RISKS AS THE OWNER
Being a Director of a Company, or a small business owner brings with it many risks to the individuals in the event that your business fails. Many of these risks are not avoidable but can be mitigated by vigilance. Reduce your risk as the owner: • Keep your accounts up to date and review them regularly – seek out explanations for unusual trading activity, significant increases in creditors or debtors, or reductions in cash availability. Ensure that your bank account is reconciled regularly. • Keep an eye on your working capital – current assets should always be at least greater than current liabilities as a guide. The higher the ratio – the better the working capital availability. • Have a back-up plan if one of your major customers fails to pay – how will you pay your own bills now? Do you have an alternative source of finance for an emergency?
It doesn’t matter how good a builder, chef, salesman, or even IT contractor you are – if you don’t keep a close eye on the financial affairs of your business there is a very good chance of failure.
• Read the fine print on credit applications – these will often require personal guarantees of Directors, and often even contain clauses enabling creditors to charge your personal property to protect their interests. If your business fails – your own personal property may be at risk. • Trusted advisors are a must – seek professional advice or help from your accountant, book-keeper, and solicitor as required. • Does your business have an overdraft? How is the business finance secured – by your own personal property? What happens to your house if the business fails? • Are your superannuation and GST/PAYG obligations up to date? Early action to enter a payment arrangement if necessary, can reduce the risk that the ATO will take firmer action – such as winding up applications, or issuing Director Penalty Notices. If the ATO issues a Director penalty notice to you – Immediate and urgent action is essential, as this can result in you becoming personally liable for Company debts. • Are your tax lodgements up to date? If your Company’s tax liabilities are not reported within three months of the due date, and a Director Penalty notice is issued – the only way to avoid personal liability is by payment of the debt. • Ensure your insurances are paid up to date – failure to adequately insure can be catastrophic! Obtain professional advice regarding your insurance needs. • Know what your off-balance sheet obligations are – do you have long term leases on property, what if you have to make some staff redundant – these liabilities won’t appear on your balance sheet, but represent additional exposure to the business • Ensure that your staff are capable, and trustworthy. • Many individual bankruptcies in Australia are the result of Company failures, where Directors have become liable to insolvent trading claims by liquidators. There are only very limited defences under the law at present to such a claim. In short, a Director has a clear obligation to be aware of the financial circumstances of the Company. It can be a defence where a director has believed on reasonable grounds that a competent and reliable subordinate was monitoring the company’s solvency position and keeping the director informed.
Many bankruptcies also occur as a result of bad luck such as illness, inability to work unexpectedly, but it is Trish’s experience that the majority are as a result of people living beyond their income or means, or the failure of small business or partnership businesses. The tips mentioned previously apply equally to partnership and sole trader business, however some additional factors which may impact on personal exposure relate to the role of guarantors of other people’s debts. Hot tips: • Do not guarantee the debts of any other person unless you are fully aware of the limits of your potential liability if they do not pay – always read the fine print, or seek professional advice regarding your rights, obligations and potential exposure • What are you risking if you do guarantee the debts of another person? • Have a written agreement in place in relation to any loans you make to any other person (including your family). • Do not agree to be a Director of a Company, unless you intend to participate fully in the financial and business affairs. Ignorance is not a defence, and you may be personally liable for company debts in the event that it fails. Trish is the only female Registered Liquidator in the ACT, and is one of the most experienced insolvency practitioners in the ACT, with the benefit of more than thirty years’ experience in the Restructuring and Recovery industry. If you have any concerns related to any of the considerations discussed in this article, we encourage you to seek professional advice as early as possible.
For further information, please contact Trish Cassidy, Senior Manager in RSM Australia’s Restructuring and Recovery division, on trish.cassidy@rsm.com.au or call 02 6217 0370.
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F E AT U R E
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ucy Stramandinoli and Anna Neilan have joined forces, bringing their 30 years combined experience, to Canberra’s newest, boutique, family law firm, Neilan Stramandinoli Family Law. Both passionate about family law, Lucy and Anna have launched their new practice with a shared view that every client needs a resolution that is very tailored to their own personal circumstances. Wherever possible Lucy and Anna draw upon the good working relationships they have with other lawyers in the Canberra family law community to achieve positive outcomes. Lucy and Anna also recognise the importance of great working relationships with professionals beyond their immediate peers. Family law cases frequently involve areas such as bankruptcy, estate planning and financial planning. “We have strong professional relationships with accountants, financial advisors, counsellors and non-family lawyers. These good relationships help us give our clients access to the other professional services they need such as financial planning, estate planning, counselling support or even 12
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recouping lost super as a consequence of a superannuation split” Lucy said. “Where one spouse might try to hide, or dispose of assets, where the other spouse can’t get to them, we work with forensic accountants to bring those assets back onto the balance sheet,” Lucy outlined. “In parenting cases, the involvement of a child psychologist can be quite crucial. With parenting cases, there is also a wide spectrum of issues that can arise, such as addiction, mental health problems, violence and sexual abuse. It is important to get the best outcome for the child. This is why having good professional relationships with counsellors, psychologists and referral services are important,” Anna said. Both Anna and Lucy are constantly looking at continuing to build strong relationships with other professionals that share their approach in working together with clients to get the best outcome for their situation. Both Lucy and Anna have a great deal of experience successfully litigating in courts and will advocate strenuously for clients if
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it gets to that point. However, “Our starting point is that court is the last resort.” Anna stated. Because of the pressures surrounding the family law Court system “We are always strategising about the best way to help clients resolve their matters out of Court. We are involved in many alternate dispute resolution processes such as negotiation and mediation, and we are part of the Canberra Collaborative Practice Group,” Lucy outlined. We listen to what our clients need and want through the process and tailor the relevant process to meet those particular needs or circumstances. Both Lucy and Anna try to empower their clients to reach an agreement with the other side that works best for their client and their children. “The impact on children and our clients of a lengthy court process can be very damaging, particularly as parties lose the control to make decisions about their family and instead they are asking a Judge to make a decision about their case” Anna explained. Lucy explained that in almost all cases Judges encourage the parties to try to resolve their dispute between themselves because
Photography: Kasra Yousefi
Neilan Stramandinoli Family Law - a small firm with big experience
F E AT U R E
otherwise, they may not like the decision that a Judge imposes on them and it will cost them considerable time, money and stress to go through the Court process. Lucy and Anna are clearly excited, and refreshed, to work with each other and are proud that the firm is their own. “We are looking to expand to a reasonable size with a few more lawyers who share the same philosophy and work ethic, but we still want to maintain the personalised approach of a small firm,” Lucy concluded. Anna and Lucy both volunteer for the Women’s Legal Centre and the Law Society and are members of the Family Law Section of the Law Council of Australia. They also undertake legal aid work from time to time. Neilan Stramandinoli is also passionate about supporting charities. The firm has recently had some involvement in supporting the “Roses are Red” Multiple Sclerosis fundraiser. The plan is to be involved in supporting a different charity every few months or so.
Anna Neilan Anna has bachelor degrees in law and commerce and is an accredited specialist in family law. According to Anna she was drawn into family law while studying at ANU. She experienced it in the workplace and determined it was the right fit for her. “I have been passionate about family law for 16 years,” Anna stated. What interested Anna was being able to help people, when they are in their most vulnerable state and going through a process that is alien to them, while at the same time helping them work out what options are available to move forward. Anna has worked for two of the larger family law firms in Canberra and felt it was time for her to branch out with a boutique firm of her own. “I got to the stage where I wanted to bring a personal touch, and boutique style, to clients that are going through the family law process,” Anna explained.
“The lawyer you have is the one that will be with you throughout the process. So, it is important that our clients feel that they have someone that they can trust,” Anna outlined. Neilan Stramandinoli Family Law are all about providing a personalised, professional and empathetic approach to their clients. “Family law is often a process where people expose their dirty laundry to someone, being their lawyer. It can be very stressful and embarrassing for them. To do that they need to trust their lawyer” Anna said. Born in Poland, Anna’s family moved to Australia when she was three. Anna has two young children and a wonderful husband who has a background in practice management, and he has been helping Lucy and Anna in setting up their business.
Lucy Stramandinoli “I was meant to be an accountant,” Lucy said seriously. But she fell into law after a friend got her a job answering the phones at Legal Aid when she had just finished high school. Lucy was made the head personal assistant at a very young age and oversaw a team of six women and solicitors. “I was exposed to criminal law, negligence and domestic violence. It was an incredible experience and showed me the power of the law, and how it could help vulnerable people,” Lucy recalled. Lucy also worked for Kate Carnell for a couple of years as her personal assistant, and says that ‘Kate’ was ‘amazing’ to work for. Lucy has been a single mum for a long time. She says that this brings out her ‘passion’ and ‘compassion’ for people going through the separation process. Lucy worked for one of the larger family law firms in Canberra for 16 years. While working full time and raising her children, she studied law through the Legal Professional Admission Board at the University of Sydney. She obtained her Graduate Diploma in Legal Practice through the ANU.
“When I met Anna I absolutely admired the way that she mentored people, the respect she had in the community, and the appreciation her clients had for her,” Lucy stated. Lucy and Anna worked together for the past five years before setting up Neilan Stramandinoli Family Law. They have actually known each other for about 16 years. They first met while working for opposing law firms. “We have always had a great relationship even working on opposing sides. We then worked together and found out we had the same work ethic and empathy for people. And the same philosophy about looking after clients,” Lucy said. Lucy has Italian heritage and says that this is a big contributor to her ‘passionate and straight forwardness’. Lucy’s two children are adults now and are both studying at university.
Suite 2 Ground Floor 11 London Circuit Canberra City T: 02 61520493 - 02 62433634 E: info@nsfamilylaw.com.au www.nsfamilylaw.com.au
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COVER STORY
Vantage Strata: A new perspective for property services By Tim Benson
C
Over the years they had all collaborated in relation to various property developments and the creation of new precincts, however never as partners. Over the course of these collaborations they had reached the collective view that the approach to strata management didn’t meet the commercial needs and community outcomes required by an increasingly dynamic strata environment.
“A residential development tower in the city may be an asset in the hundreds of millions of dollars. The plan to look after that asset, and ensure its longevity, is often manifestly inadequate”
Photography: Kasra Yousefi
hris Miller, Managing Director, Vantage Strata, is a young man on a mission. At 33 years old he may appear younger than your average business owner, however it would be a mistake to underestimate the impact he has had within the strata industry from humble beginnings as a strata manager more than a decade ago. Chris has had a good look at the property industry and believes he has identified a gaping hole in the strata management market. “There has been a distinct lack of sophistication and complexity when it comes to the approach of service providers in this area for a number of years,” Chris stated. Vantage Strata is the culmination of the collective vision of Canberra property identities, Paul Powderly (ACT State Chief Executive - Colliers International), Peter Maloney (Maloney’s Real Estate), Rupert Cullen (National Director of Real Estate Management – Colliers International), and Chris Miller.
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COVER STORY
“Most executive committees are volunteers that don’t necessarily bring with them the experience that is needed to manage a complicated asset, and therefore totally rely on their strata managers to have the experience and capability to guide them”
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Rupert Cullen Director
Peter Maloney Director
Robin Marks Head of Operations and Senior Strata Manager
In 2015 they each joined forces to found Vantage Strata with Chris at the helm while the other partners continue to lead the local property profession in their own capacities, offering advice and mentorship to Chris and the Vantage team along the way. “Generally speaking the strata title landscape throughout the ACT has mostly consisted of detached or semi detached townhouses, and relatively simple apartment buildings. In the last decade or so our market has matured significantly resulting in exponentially more dense and complicated developments. Often these are high-rise buildings with a mix of apartments and commercial businesses. The net result is a dramatic increase in the service needs of the built environment as well as a change in the needs of the various residents and commercial users.” “A residential development tower in the city may be an asset in the hundreds of millions of dollars. The plan to look after that asset, and ensure its longevity, is often manifestly inadequate.” The partners behind Vantage Strata haven’t followed the career path of a traditional strata manager. They have had careers in commercial property, business ownership and facilities management more often than not dealing with institutional clients and stakeholders with considerable experience and expertise in property. The needs and expectations of these clients generally far exceed that of the traditional executive committee. “Most executive committees are volunteers that don’t necessarily bring with them the experience that is needed to manage a complicated asset, and therefore totally rely on
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Andrea Mawby Strata Manager
Helena Sugar Strata Manager
Sarah Weihrauch Managerial Support
Vasiliki Merkoureas Strata Manager
James Kelly Administration Assistant
their strata managers to have the experience and capability to guide them,” Chris explained. Chris believes that the current strata management providers have created an environment where a more commercial approach will be readily taken up by the market. “The work has largely been done for us over the past five to ten years by the distinct lack of capability in this sector of the market. We want to speak to committees that feel they are out in the wilderness without a guide. What they need is Bear Grylls and many of them have a boy scout,” Chris stated. Chris started his property career as a Strata Manager and then had a parallel career as a commercial agent and business development manager. When I started around 12 years ago as a strata manager, my induction was a desk, a phone and a pat on the back for good luck. He says he woke up one day to a phone call that three basements in a building he managed had been flooded and turned into a makeshift swimming pool due to failure of plant that pumped away water from a natural spring that ran under the building. Chris hadn’t arranged any maintenance of these pumps as he had no knowledge of their existence. This experience was a watershed moment for Chris who promised himself to never be in the same situation again. Since that time there has been considerable improvement from within the industry regarding minimum standards of training and professional development. “Whilst recognising improvements in training, the property industry in Canberra is maturing at a pace that is exceeding the strata industries ability to keep up,” Chris outlined. According to Chris, Vantage Strata benefits by not being a ‘legacy business’. “We don’t have the challenge of having to change a mindset that has been entrenched for years or having to turn our culture around. We started with a clarity of purpose and knew from day one what we needed to do,” Chris said. What are Vantage Strata’s plans for the future?
“Over the next four to six months we expect to open offices in Sydney and Newcastle, where we hope to replicate our success in Canberra,” Chris stated. Chris says there is a need for legislative strata reform in the ACT to address changes in complexity in the market, especially in mixed use developments. He says that all classes of property, (retail, office, residential) are treated the same, despite the different needs of each subclass. “A situation could arise where a ground floor unit running a laundromat pays the same proportional contribution for water consumption as a one bedroom apartment. The same is true in reverse where a ground floor restaurant must pay for the use of the swimming pool and lifts for which they have no need to use,” Chris said. “The best way to address this would be by way of a volumetric subdivision. This would separate the title of the different unit types while retaining some shared interests, such as a fire system. A number of developments have taken this approach, and if our legislation does not change to adequately accommodate this nature of property title there could be some serious storm clouds gathering in the distance. There is a significant opportunity to change things now in preparation for the future, which frankly speaking is already here.” Chris Miller, Managing Director, Vantage Strata, is looking at strata management from a different angle and leading a team that is changing the outlook of strata management.
T: 1800 VSTRATA (1800 878 728) E: info@vantagestrata.com.au Jamieson House 90/43 Constitution Avenue Reid ACT 2612 PO Box 206 Civic Square ACT 2608 B2B M AGA Z I N E.CO M . AU
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F E AT U R E
Separating couples: go your separate ways but together
Use Separate Together, your dedicated settlement lawyers
"Everyday Australians should have access to quality, family law services at affordable prices. That’s what Separate Together provides to those separating couples in agreement, through low fixed prices and competitive hourly rates." Director, Siobhan Mullins
W
ith 70% of litigated family law matters resolving before trial with couples reaching an agreement, there has to be a better way to separate without unnecessary Court intervention and expensive lawyers, thought local Canberran family lawyer, Siobhan Mullins. Thenceforth, Separate Together was born. Separate Together is Australia’s First Online Family Law Firm dedicated to formalising separating couples’ agreements in a way that is Simple, Fast and Affordable.
About us Separate Together is a Canberran born and bred family law firm that works with the separating individual or couple to formalise the agreements reached after separation. Separate Together is ahead of its time, operating as an online law firm. Through use of technology and Internet, we service separating Australians in regional and capital city areas across Australia all online and from the comfort and convenience of one’s own home. We’re about simplifying the separation process with easy to understand step-by-step instructions about the process and providing easy accessibility to quality family law legal services at affordable prices. The firm is run by Director, Siobhan Mullins, who has practiced exclusively in family law and domestic violence since her admission as a solicitor in the ACT. Siobhan has worked with separating clients to assist them in reaching an agreement with their partner about care arrangements for children, 18
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child support, spouse maintenance and the division of property and/or superannuation. Siobhan has advocated on behalf of her clients at mediations and before the ACT Magistrates Court and the Federal Courts in relation to domestic violence, parenting, property and child support matters. Siobhan is a collaboratively trained family lawyer and a member of the Canberra Collaborative Practice Group, the ACT Women’s Legal Centre, the ACT Law Society and the Canberra Region Family Law Professionals Association.
Snapshot of our approach Professional & authoritative. We are leaders in our field, with extensive experience and expertise in family law. Results focused. Our aim is to formalise your agreements about separation in a timely and cost efficient way. Leader. We’ll lead and navigate you through the separation process.
With, not against. Our approach is for separating couples to work together. Discussing the separation with all parties is key to reaching an outcome.
Inclusive. We’re here to work with everyone involved to formalise your separation. It’s not our style to escalate tensions or encourage conflict.
How separate together works Separate Together works one of two ways—clients have the option of engaging us to provide independent legal advice to them (whether that be about their entitlements pursuant to the Family Law Act, an agreement that they have reached with their partner or a proposed agreement that they would like to put to their partner) and thereafter engaging us to prepare the necessary documents to formalise any agreement reached to be recognised in a legal way. In the alternative, we can work with a separating couple to prepare the necessary documents to formalise the agreement(s) reached together. The agreements that we can document include care arrangements for children after separation, the division of property and/or superannuation, and child support and spouse maintenance matters.
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F E AT U R E
Why separate together is different Separate Together is different from the run of the mill traditional family law firms being that: 1. Firstly, Separate Together does not go to Court. We are Dedicated Settlement Lawyers, specialising in agreements only. We do not represent clients in Court proceedings. No other such firm exists in Australia, let alone operates online. 2. Secondly, our services are affordable. In operating as an online firm, the overheads are not as high as a traditional physical law firm. Director, Siobhan Mullins, has therefore made the decision to pass those savings onto separating Australians, who have the option of engaging us on a fixed price or competitive low hourly rates. 3. Lastly, unlike other traditional family lawyers, we will act for a separating couple. The scope of our retainer in those circumstances is limited to the preparation of draft agreement documents and is on the basis of jointly agreed instructions. Separation shouldn’t be complex, time consuming and expensive. Separating individuals and couples can choose to work with Separate Together to make the separation process a Simple one, that is Fast and Affordable.
"Your advice has been sound and measured, always delivered in a thoroughly professional manner." "I just can't thank you enough with the great job you did not just for your professionalism but also how you care about people" "You have done an excellent job in remaining focused on moving forward to realistic and better outcomes" "I have been lifted by your positive attitude and encouragement to press on in difficult times"
To find out more about Separate Together, visit our website: https://separatetogether.com.au B2B M AGA Z I N E.CO M . AU
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ADVICE ACCOUNTING
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Tips for the new financial year
BOOKKEEPING
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AccountantChange #2020 and the future landscape of the accounting industry
BUSINESS LAW
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Debtor management
CASH FLOW SOLUTIONS
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Need working capital? Your Accounts Payable ledger may hold the answer!
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Enterprise Architecture: The foundation of good security
CYBER SECURITY
by Andrew Sykes, RSM
by Fuzuki Nishimura CPA, Tailored Accounts
by Mark Love, Bradley Allen Love Lawyers
by Jane Lombard, Fifo Capital
by Ryan Erlandsen, Cordelta
INSOLVENCY 23
Ombudsman’s observations on those overdue
INTELLECTUAL PROPERTY 24
Procurement of goods & services
REAL ESTATE
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Perfect time to downsize
RECRUITMENT
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‘Sedate’ pay rises of sub-three per cent ahead for most
STRATA MANEGEMENT
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Building security alert
THINK RESULTS
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How will I change the organisation?
WEBSITES
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Nine rules I follow when creating successful websites
by Tony Lane, Vincents
by Shaun Creighton, Moulis Legal
by Peter Maloney, Maloney's property
by Nick Deligiannis, Hays Recruitment Experts Worldwide
by Chris Miller, Vantage Strata
by Darleen Barton, DIPAC & Associates
by Sam Gupta, Synapse Worldwide
ACCOUNTING by Andrew Sykes
Tips for the new financial year The race to the end of the year can often mean business owners don’t feel they can take Do your offerings still the time to plan for the new financial year. Yet appeal to your target effective financial planning is critical to ensure your business’ ongoing success. Take a few moments now to complete these market? Check to key time and money saving tasks: see whether there 1. Review your products and services. Do your offerings still appeal to your target are any products that market? Check to see whether there are any products that previously performed well and previously performed have started to decline. It could be time to well and have retire that product or find ways to refresh it. Also start planning for seasonal peaks and started to decline. troughs as they apply to your business, for example, Easter, Mother’s Day, Father’s Day and school holidays. 2. Review your pricing. If you haven’t raised prices for a while, now may be the time to do so. You should have formal price review procedures in place including responding to competitor pricing changes and specials. 3. Review stock levels. Make sure you have enough stock on hand to satisfy anticipated demand but avoid carrying too much stock at one time. Slow-moving stock could be liquidated as bargains or bundled with other products to add value and increase turnover. 4. Review staffing and rostering. Make sure all staff are aware of what’s required and ensure annual leave plans are finalised as early as possible. 5. Review fraud and theft protection systems and make sure all staff understand their responsibility to be vigilant. 6. Review debtor lists and actively chase all overdue accounts. Managing your cash flow throughout the year is vital. Make plans for collections and regular reviews. 7. Review your debts. Overdrafts, premium funding, lease facilities and cash flow funding products can be excellent tools to help manage your finances but make sure you choose the right ones and use them effectively. 8. Update your business plan. Make sure your business plan reflects changing market and economic conditions. Make sure it’s ready for scrutiny from any government agencies or financial institutions you deal with. 9. Look at ways to reduce your tax burden. For example, ensure superannuation payments are made on time, both for employees and for your personal super. Review your finances in general to ensure your business is structured correctly and your liabilities are minimised. Finally, remember that you deserve a break. Take advantage of public holidays and other time off to protect your own health and wellbeing, and reduce the chance of illness disrupting your business activities. It gives business owners the opportunity to reflect and refresh their plans without the distraction of day-to-day workload. It helps them get a fresh perspective on the business.
Speak to RSM business advisor, Andrew Sykes, should you wish to explore any of these strategies for your business on andrew.sykes@rsm.com.au or call 02 6217 0333.
BOOKKEEPING by Fuzuki Nishimura CPA
AccountantChange #2020 and the future landscape of the accounting industry Tailored Accounts hosted the first seminar of AccountantChange #2020 in March 2017, with great feedback from all participants. The seminar brought attention to emerging issues and opportunities in four key aspects of the accounting industry: human resources, technology, economic landscape and innovation. The theme of the program emphasised the need for change, accountants being adaptive and ready for the new era of accounting in Australia by 2020. AccountantChange #2020 was initiated byTailored Accounts, stemming from itsmonthly skills and knowledge enrichment training. Originallydesigned exclusively for regular staff training and empowerment since 2011, Tailored Accounts decided to extendthe training program, opening the program to university students, young graduates and entrepreneurs. The first AccountantChange #2020 attracted 35 students from the Australian National University (ANU) andCertified Practising Accountants (CPA) professionals. Speakers with a diverse, extensive range ofexperience presented and facilitated discussions around interesting, contemporary, relevanttopics from Accounting, Technology, Management, to Tax. The participantsin training were enthusiastic, enjoyinga chance to translate their learning into practice while networking with inspiring, successful professionals. One of the participants expressed his eagerness to join the second seminar, an opportunity to develop his technical and social skills –essential skillsfora career in accounting. AccountantChange #2020 demonstrated the importance of knowledge beyond the textbook, fostering a culture of collaboration between industry and universities. With a broader spectrum of risks and uncertainties in the future of the accounting industry, Tailored Accounts highlighted a focus on business intelligence and insight based on evidence-driven information. The rapid changes in accounting practices due to the advancement of technologymotivatedTailored Accounts to communicate with and educate the next generation of accountants. During the AccountantChange #2020 Seminar, our team aimed to encourage young accountants to be ready fora challenging, but exciting future strategic direction in the industry. AccountantChange #2020 is our commitment to driving positive social change. As a mentor for the future generation of accountants, Tailored Accounts will continue to contribute to the accounting industry, organisinganother three training sessionsduring 2017 as part of the serial AccountantChange #2020 program. During this fulfilling journey, we truly appreciate tremendous support and feedback provided by our colleagues. Tailored Accounts willcarry onaspiringto nurture our young accountants for the prosperity of the Australian accounting industry.
Fuzuki Nishimura CPA is the Chief Technical Officer at Tailored Accounts “The Accounts Department of Small and Medium Business” www.tailoredaccounts.com.au
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BUSINESS LAW
CASH FLOW SOLUTIONS by Mark Love
Need working capital? Your Accounts Payable ledger may hold the answer!
Debtor management You have a thriving business and a diverse customer base. Your sales are on target, yet cash flow is poor. You sell on credit and you are concerned that tightening the credit you give will impact on your customer relationships. The ACT is one of the slowest paying regions in Australia, payment being an average of 19 days late1. An efficient debt management system facilitates a steady income. Encourage your clients to pay on time and keep your suppliers happy. Consider: 1. Communication Communication is key. Discuss payment Send reminders, statements terms with your customers upfront. This and make phone calls. will reduce confusion once the invoice goes out. Stick to your terms to reinforce Reminding your customers your clear and open communication. Ensure that any work performed or goods that you are serious about sold are invoiced properly, each and every getting your invoice paid time. Get your invoices out as soon as possible after the supply is made. increases your chances of 2. Good record keeping getting paid on time. Not only is it a legal requirement that companies 2 and businesses 3 keep financial records that accurately record and explain their financial transactions, a clear transactional record enables you to render your invoices promptly and quickly. If you are concerned about a particular debtor, keep records of their unpaid invoices, copies of any letters of demand, correspondence and their credit contract (if any – if not, get one!) together. This information will be of crucial importance to your lawyers, should you need to enforce the debt later on. 3. Chase early and often Send reminders, statements and make phone calls. Reminding your customers that you are serious about getting your invoice paid increases your chances of getting paid on time. Remember the squeaky wheel gets the oil! 4. Payment plans and security If you allow extended payment terms to any of your customers, get your customer to acknowledge the debt. And get the payment terms in writing. If the debtor later defaults, they will typically try to dispute the debt. Follow this rule and you will have written evidence to produce to a Court. Also consider taking security (personal guarantee, mortgage or security interest). 5. Debt recovery options There are a plethora of debt recovery options including letters of demand, debt collecting agencies, statutory demands and legal proceedings. Be aware of what debt recovery options are available to you; understand the timeframes in which you need to take action and the cost. This will assist you make effective debt recovery decisions for your business. Dun & Bradstreet, Australian Late Payments Analysis: Big Business in the Slow Lane (Trade Payments Analysis Q4, 2016) 2Section 286 of the Corporations Act 2001 (Cth). 3Section 262A of the Income Tax Assessment Act 1936 (Cth). 1
Mark Love, Legal Director, Business Law 9th Floor, Canberra House, 40 Marcus Clarke Street, Canberra ACT 2601 E: mark.love@ballawyers.com.au T: 02 6274 0810 | www.ballawyers.com.au
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by Jane Lombard
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At first blush, the idea of using your company’s accounts payable ledger to generate cash flow is a Businesses which little “left field”. suffer the most are Traditionally, the Accounts Payable function has always been about cost management not those trapped between revenue and savings, but that has changed with the emergence of what is generically referred to as slow paying customers supply chain finance. Choosing the right supply chain finance will not on one side and, on only help to overcome the challenge of managing working capital it will help your business to grow by the other, valued adding thousands of dollars to your bottom line. suppliers who demand What is supply chain finance? To put it simply, a financier gives you funds so you timely payment.... can offer your suppliers early payment terms in Supply chain finance exchange for discounts. The benefits include: offers the antidote. 1. Increased revenue. The discounts you earn will go straight to your bottom line. 2. Improved cash flow. Because the financier is providing the funds to pay your suppliers, you get to preserve working capital to generate growth or to plug holes that emerge in your day to day operations. You can even extend your payment terms if necessary. 3. A stronger and more reliable supply chain. By offering early payment as an option, you’ll have suppliers lining up to do business with you. The huge number of companies already using debtor finance supports that. 4. No fees. The right supply chain finance company shouldn’t charge you fees for the facility, but will take a share of the discounts offered by suppliers. Why would you use supply chain finance? Australian businesses take a long time to pay their bills. The bigger the company, the longer that payments seem to take. Many companies have extended payment terms to sixty days from the end of the month in which an invoice was issued. You can wait up to three months for the cash to appear in your bank account making life extremely difficult. Businesses which suffer the most are those trapped between slow paying customers on one side and, on the other, valued suppliers who demand timely payment. Your working capital can be drained in weeks leaving you with a major headache. Supply chain finance offers the antidote. Access to a flow of interest free funds alleviates the stress and enables a cash flow challenged business to optimize its working capital. Supply chain finance, or reverse factoring as it is also known, offers a solution to the working capital needs of both buying organisations and suppliers. It’s an indisputable win-win result. P 0408 226 841 E jane.lombard@fifocapital.com PO Box 3269, Weston Creek ACT 2611
CYBER SECURITY
INSOLVENCY
by Ryan Erlandsen
Enterprise Architecture: The foundation of good security Enterprise architecture can often be viewed as bringing order to a highly complex ICT “Good architecture portfolio and is thus unnecessary for small can’t happen without businesses. However, small-scale enterprise architecture can assist any organisation to rationalise investment by making cost-effective, security, so security technology-based decisions that support shouldn’t happen business objectives. The role of enterprise architecture in without architecture.” any organisation is to highlight the strategic direction of the business and to ensure that supporting and enabling capabilities, such as ICT and cyber security, are aligned with these business goals. Investing in enterprise architecture should not be viewed as worthwhile for only large organisations. Experienced architects can apply the same methodologies and principles used in developing large-scale enterprise architecture while tailoring the investment to the size of the business. The protection of business assets is not a one-size-fits-all model. Investing in the security of your business poses similar challenges to protecting your home; both require informed decisions regarding the value inside. If you invest in a secure safe for your home, what items would you choose to store in that safe? Would the expensive jewellery or the family heirlooms make the cut? Each household places a different value on such items. Understanding where value lies in your small business is just as important. While architecture can be overlooked in the remediation of cyber security risks, enterprise architects are acutely aware of the importance of security in architecture. All modern architectural frameworks and methodologies highlight security as a pervasive concern to be addressed at every stage in the architecture development. Good architecture can’t happen without security, so security shouldn’t happen without architecture. Cyber security is not a discipline to protect ICT assets, its focus is the protection of business assets. Risk remediation is generally not aimed at protecting a server itself, but the data contained within that server. Without a good understanding of how the business produces value, and how it is affected by technology capabilities and risks, an organisation cannot accurately determine which assets to invest in to provide the greatest safeguard of the business’ value. When it comes to managing cyber security in any organisation, making the right investment decisions is paramount. This is where enterprise architecture can provide the greatest benefit. Architecture is about piecing together all the building blocks that support your business goals and strategies. Each building block is intrinsically linked but, without enterprise architecture, it’s not always apparent how the bottom-most building blocks support the higher-level business needs. When investment is required to protect against cyber security threats, having a clear picture of how all the pieces fit together will provide you with the insight needed to prioritise that investment. The Cordelta team can assist you in aligning your investment decisions to your business goals and strategies. Contact us for further details.
by Tony Lane
Ombudsman’s observations on those overdue In her relatively short tenure as Australian Small Business and Family Enterprise Ombudsman (a descriptor for which even the acronym ASBFEO appears too long), Kate Carnell and her staff have not taken a backward step in inquiring into some controversial economic issues. In her most recent report, Ms Carnell proudly eschews those who would otherwise ignore the proverbial room-bound elephant, having initiated her own investigation into late payments as a driver of business and economic underperformance and distress. In its headnote, the imaginatively-titled ‘Payment Times and Practices Inquiry – Final Report’ observes: “When a business experiencing extended payment times also experiences late payments it will stress the business further with significant ramifications for the solvency of the business. Aside from these business challenges, there are a range of personal effects which spill-over including mental health issues. Something must be done. [emphasis added]” Whilst perhaps obvious, the statement is indicative of the pervasive reach of solvency-related issues into the ‘third rail’ of Australia’s health system – mental health. Late payments in business, for which Australia ranks well behind such economic luminaries as Mexico, South Africa and Poland, at a 2015-average of 26.4 days late, seem reflective of the Antipodean attitude ‘she’ll be right’. But it is this root cause of economic ripples in respect Late payments in business, for of which the report seeks to illuminate the motivators, and which Australia ranks well behind some important messages such economic luminaries as therein, regarding payment accountability and responsibility. Statistics from the Australian Mexico, South Africa and Poland, at Securities and Investments a 2015-average of 26.4 days late, Commission1 reflect the concerns of the ASBFEO – poor cash flow, seem reflective of the Antipodean high cash use and poor strategic management leading the way as attitude ‘she’ll be right’. the most commonly reported indicia of business failure from insolvency professionals’. So, is legislating for proper payment terms the answer? Perhaps. That much is suggested by Ms Carnell’s report. However, the total cost of undertaking proceedings to have an offending corporate debtor wound up is often more than 10 times that of issuing the prerequisite creditor’s statutory demand to enforce those terms! So, it’s an access to justice issue then? Again, perhaps. But business is often its own worst enemy. In the mudslinging world of corporate insolvency, where director reputations are readily pilloried once their companies subside, isn’t it better practice to avoid being the small business ‘boy who cried “Wolf!”? The take home - if you have trading terms, enforce them and better still, don’t start a legal process you’re not prepared to finish. Remember, if you give an inch… 12015-16 data series
Ryan Erlandsen, Enterprise Architect Level 1, 72 Dundas Ct T 02 6162 4112 | security@cordelta.com
Tony Lane is a Registered Liquidator at Vincents. For more information, contact Vincents on (02) 6274 3402 www.vincents.com.au
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INTELLECTUAL PROPERTY by Shaun Creighton
Procurement of goods & services We procure goods and services every day. For simple day to day transactions, there is generally no formal contract in place. The provisions of the Australian Consumer Laws would generally apply to the transaction. For larger contracts, it is always prudent to have a formal contract in place which addresses issues such as, who owns any intellectual property (IP) created, privacy obligations, and clarifying who is liable for certain acts or omissions (and the extent of such liability). Procurement conducted by the Commonwealth Government generally involves a formal tender process. There are a range of legal issues to be considered here, including whether the Commonwealth entity is bound to comply with the Commonwealth Procurement Rules (CPRs). The CPRs (as amended in March 2017) govern the way in which the procurement process is conducted, including obligations that the Commonwealth entity conduct an efficient, effective and ethical procurement with a view to achieving value for money. It is common for there to be significant negotiation of IP, liability and indemnity provisions in a contract. This is equally so with a Government contract. The position a Commonwealth entity may adopt in such negotiations will also be influenced by which laws and policies apply to that entity. A high level example of considerations on a case by case basis is provided below. Intellectual property (IP): for non-corporate Commonwealth entities covered by the Public Governance, Performance and Accountability Act 2013 (Cth) (the PGPA Act), the Statement of IP Principles provides a policy for the management of IP. Each such Commonwealth entity is likely to have an IP management framework that reflects their needs and objectives. The Statement of IP Principles confirms that Commonwealth entities should maintain a flexible approach in considering options for ownership, management and use of IP. Further, for information and communication technology (ICT) contracts for software, Commonwealth entities should adopt a default position in favour of the ICT supplier owning the IP in the software developed under the procurement contract. Liability and indemnity: Liability and indemnity provisions are often considered and negotiated together. Issues to consider include the scope of any indemnities that are granted, is there a cap on liability under the contract, which heads of liability are excluded from any liability cap, how is indirect / consequential loss treated and how do these provisions sit in conjunction with insurances to be held. The PGPA Act requires that the relevant delegate consider which party is best placed to manage the relevant risks, and confirm that the benefits to the Commonwealth outweigh the risks involved. If granting indemnities and certain contingent liabilities, the delegate must make reasonable inquiries to assess the likelihood of the event giving rise to the liability occurring and the likely expenditure that would need to be made if the event giving rise to the liability occurred. The Moulis Legal team have extensive experience in drafting and negotiating contracts for the procurement of various goods / services (including ICT contracts) and infrastructure arrangements.
Contact Moulis Legal if we can assist with any of your legal requirements, including in relation to government contracting 02 6163 1000 shaun.creighton@moulislegal.com
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REAL ESTATE by Peter Maloney
Perfect time to downsize Many Canberran’s that are either retired or getting close to retirement have a large percentage of their net worth tied up in their family home. While the family home is exempt from the capital gains tax, it is a nonincome producing asset and will require a substantial amount of money to maintain each year to protect the capital value. Since 2015 houses in Canberra have enjoyed significant increase in value Once you know what your while units and townhouse have not enjoyed the same level of increases so home is worth and what a currently apartments and townhouses suitable replacement will offer great value. The other emerging issue is rates cost, you then have a clear which have raised over 40% in the last three years so the cost of keeping the idea of what additional family home may be unsustainable. Perhaps look at downsizing into funds you have available an apartment or townhouse, this will to either invest or enjoy. not only give you more free time but also more money to help fund your retirement. Planning for retirement includes where you want to live and the lifestyle to which you are looking forward to. The first step is a chat with your financial planner or accountant to determine your true financial position, sometimes this can be a very sobering conversation. The second step is obtaining a realistic market appraisal for the value of your current home. This is a good base for your financial planner or accountant. The third step is checking out alternative accommodation that works for you now and in 10 -15 years’ time. Choosing this right property on your first downsize can often result in only moving once, ideally look for a single level or an apartment block with lift access close to shops and transport so you can still maintain independence even without a car. Remember lifestyle is also very important in your planning. Once you know what your home is worth and what a suitable replacement will cost, you then have a clear idea of what additional funds you have available to either invest or enjoy. We recently helped a lady who was looking at retirement and realised, after a conversation with her financial planner, that she did not have enough super to fund her current life style. She downsized from a large family home to a spacious townhouse both in the inner north and was able to invest around $500,000, buy a new car and take an lengthy holiday. Often this planning process may take several years. At Maloneys we are happy to provide you with a pressure free market appraisal which will help you start your planning for the future.
For further information regarding real estate in the ACT contact Peter Maloney on: 0418 797 718 or pm@maloneys.com.au
RECRUITMENT
STRATA MANAGEMENT
by Nick Deligiannis
‘Sedate’ pay rises of sub-three per cent ahead for most Sixty-five per cent of employers will give their staff a pay rise of up to 3% in their next review, but 11% will not increase salaries at all. That’s according to our 2017 Hays Salary Guide, released this month, which also shows that 19% of employers intend to award a salary increase of between 3 and 6%. Just 5% of employers will increase salaries at the higher level of more than 6%. This represents a slight drop over the last 12 months, since 7% of employers awarded a pay rise of more than 6% in their last review. The Hays Salary Guide is based on a survey of more than 2,950 organisations, representing 3,021,984 employees, as well as placements made by the recruiter. It also shows that business activity increased for 70% of employers in the past 12 months, while three-quarters (75%) expect it to increase in the next 12 months. Meanwhile 36% foresee a strengthening economy in the coming six to 12 months. In terms of hiring intentions, 45% of employers expect to increase permanent staff levels and 23% expect to increase their use of temporary and contract staff. Demand is particularly high in Canberra across professional services, especially for qualified taxation professionals, employment and contract lawyers and defence sector procurement experts. Meanwhile the construction sector still shows strong hiring trends with project and site managers highly sought after, especially those with medium density residential experience. Within the public service highly competent policy, project and programme professionals with versatile co-ordination skills are in demand. In the last 12 months, 15% of Australians asked for a pay rise but were declined – a further 17% asked for a pay rise and were successful. The success of the latter perhaps explains why 45% say they intend to ask for a pay rise in their next review. A further 24% are as yet unsure. A cautious approach to salary increases prevails So despite rising headcounts and positive sentiment, we are seeing sedate salary rises across most industries and sectors, which is also at odds with other trends. For instance, employees are responding to rapid technological change by investing in their own skills development. They’re also more productive thanks to technology. Even the time-honoured supply and demand principle has failed to impact salaries in all bar a few instances. But our strengthening economy, rising business activity, growing headcounts and skill shortages cannot be overlooked for too long. The piercing question then is how high will turnover reach before typical salary increases climb above three per cent? Get your copy of the 2017 Hays Salary Guide by visiting www.hays.com.au/salary or calling our office on 02 6257 6344.
Nick Deligiannis, Managing Director of Hays in Australia T 02 6257 6344 E canberra@hays.com.au www.linkedin.com/in/nickdeligiannis
by Chris Miller
Building security alert In the past couple of months we have noted a spate of disturbing burglaries within We strongly encourage apartment buildings across Canberra. committees to consider the After enquiries with the police as well as with senior members of other strata security of their buildings businesses it appears that the issue may be wide spread. It makes one wonder if there is in light of these incidents. some degree of underlying organisation. In particular we suggest While Vantage Strata and our contemporaries from other organisations removing any lock boxes for continue to work with the authorities on the past incidents, it is worth highlighting the time being and considering some of the patterns so that the wider community can take steps to secure upgrading to a more robust their premises. Items that appear to have been targeted key management system. by thieves include hard drives and access control infrastructure, as well as laptops and computers that are utilised by on site building managers. Access has often been gained by breaking into “lock boxes” secured to walls in the common areas. Authorities believe that there is a high likelihood the thieves knew what they were looking for in advance. We strongly encourage committees to consider the security of their buildings in light of these incidents. In particular we suggest removing any lock boxes for the time being and considering upgrading to a more robust key management system. It is also well worth considering conducting a security pass and key audit of your building. Vantage Strata generally recommends that an audit should be conducted annually as a best practice. This process involves contacting all owners and residents to confirm the serial numbers of all passes in use. Any that are unaccounted for after this process can be deleted from the system. In some instances a buildings security system may not have been established with the serial number for each pass recorded. Although this presents a challenge when auditing, once the investment is made to gather the information it will make future audits much easier. Last, but certainly not least, we cannot stress enough the danger of leaving your garage remotes and swipe passes in your vehicles. If you keep these items in your car you will become a target for thieves, and once they have your pass the buildings security is immediately compromised. If you have had any security passes stolen please ensure that you notify your strata manager so that it can be deleted from the system urgently. It is a sad reality that ultimately these events will never be totally eliminated. However, if owners and residents remain vigilant it is well within your control to minimise the likelihood of becoming a target in the future.
For further information, please contact Chris Miller, Managing Director M 0400 376 208 or 1800 878 728 The Griffin, Corner Giles & Jardine Streets, Kingston PO Box 4259, Kingston ACT 2604.
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WEBSITES
THINK RESULTS by Darleen Barton
How will I change the organisation? I'll change me! That's how I will change the organisation for the better. Very rarely heard are these words "I'll change me" to improve the organisation. Tip: Families are no different, mum and dad if YOU change YOU the fruit you harvest will be sweeter. Tell me, why do you invest so little into YOU when you are the only person in the world you can truly control? Self-development is key to living a fulfilled life and to having a successful family/career/business. Are you telling yourself that I will implement another new "Training Programme" and things will get better? Training is a great way to teach for e.g.: policies, procedures and systems to managers and employees. Employee's need to follow managers who manage best when sameness is inflexible. A problem in business today, is they recruit based on CV, friendship and Salary and we play follow the follower. Leaders build leaders, you cannot train this. Leaders are born of great CHARACTER born promote others ahead of themselves. Bosses are born to tell people what to think and when to think, rendering the organisation stagnate. LEADERS are the fertiliser of a company’s sustainable crop for the future. Train on policies, procedures and systems - NOT Leadership. Leadership is a journey, you are only as good at Leading as the last personal level you have mastered. Now, do you understand why YOU do or do not attract the people who talk and walk a good game? It's all about YOU. Here is some of your pain documented: • People not taking responsibility for their actions • People throwing their fellow employees "under the bus" • People showing up late • People with no respect for the rules or management • People who don't follow company systems and procedures • People who do not invest in themselves Beliefs multiplied by All Behaviours = ALL YOUR RESULTS in your business. After 25 years of observing interactions and conversations between leaders and their people, I have come to understand that there is a direct correlation between self-concept and success. When the leader does not have confidence in him or herself they will struggle to communicate the needs of the business. • Communication check #1: Top lining information This causes people on the receiving end of a communication to be a "mind-reader" or guess as to what is being requested of them. Details are left out or are at best, vague. The recipient, for many reasons, fails to ask follow-up questions to get specifics. They then are left to figure it out on their own."perception is not reality" How many times have you communicated an idea and ended up with NOT THAT? • Communication check #2: Behavioural bullets People are great at saying what they don't want or what they don't want others to do. BUT have challenges identifying the behaviours they want instead. Where your focus goes energy flows. So, people are getting more of what they don't want than ever before because they continue to focus on "what they don't want". DIPAC- DISCIPLINE –INNOVATION – PERSISTANCE – ATTITUDE – COURAGE work over Four disciplines Coaching | Mediation | Counselling | Therapy Darleen Barton - Practitioner Accredited- ANMS -AMA Mediator Ochre Medical Centre 15 Whitrod Ave, Casey ACT 2913 Ph: (02) 61634200 www.dipac.com.au
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by Sam Gupta
Nine rules I follow when creating successful websites If you are developing a new website, use these points to ensure you have a great website: 1. Take the time to understand the business. Every business really is different. I feel it’s really important for me to decode the culture and the persona of a business before working out What are the short term and how we are going to represent it online. 2. What are the short term and long term long term goals you want to goals you want to achieve through the achieve through the website website and in general? Website needs to be aligned to the big picture as it is an and in general? Website integral part of any business. needs to be aligned to the 3. Next is products or service offerings. How they are offered online can big picture as it is an integral significantly improve the chances of getting conversions. part of any business. 4. Understanding your customer is the key. Your website must be customer focused and should be able to connect itself with its audience. It doesn't matter how good it looks to you or me. It must look good to the target audience. For this, you must take the time to dig deep into the behavioural profile of your customers. 5. Branding comes at #5 for me. Some agencies put Branding as #1, but I need to have all above points checked-off first. Make sure the brand is represented well on the website. The website should help enhance the values and message of the brand. 6. Now comes the design and layout. It's not just the design that matters, it's the User Interface & Experience that makes all the difference. The better you do at #4, the better you will do in this area. The idea is simple; even the most complex task should feel like a piece of cake to the user. Make your website super user-friendly. 7. Once the design is done, the next focus should be on development. The small details during development can make a huge difference in the effectiveness and interactivity of the website. Good development also goes a long way in helping the website get higher Search Engine rankings as well longer shelf life. 8. Next is content. Once all the efforts have gone into making the site, it's the content that will prompt users to take any action on your website. From the main heading on the home page to the descriptions on the products/services or about page, good copy/content will help you jump through the hoops. 9. Next is Call to action. Now that you have designed a user-friendly interface, you want users to interact with your website using Enquiry or Quote form or Call now or Add to Cart. Make it easy for customers to do business with you. After 12 years and hundreds of websites later, I believe these golden rules help our clients attract, retain and convert more quality customers.
Sam Gupta is the managing director of Synapse Worldwide. Sam would love to hear your thoughts on this advice column. Tel: 1300 785 230 Email: admin@synapseworldwide.com Web: www.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
Business sector coming of age in Canberra Robyn Hendry | CEO | Canberra Business Chamber Photo: Andrew Sikorski
Australia for the second time running. At the 2017 Australian International Coffee Awards (ACIA), Bean!Roasters took out the title of Champion Australia Roaster. Three generations of the Sciannimanica family have been producing great coffee in Canberra since 1963. Today the family’s coffee centre in Fyshwick is a multi-purpose coffee house,
A number of Canberra businesses turn 50 this year, meaning they have been part of the fabric of the ACT for nearly half its life.
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he ACT celebrated its centenary just a few short years ago – we are now a young and vibrant 104! While we honoured our city’s longevity with a year of events, it is also worth recognising the staying power of many of our local businesses. It is estimated that one in three new small businesses in Australia fail in their first year of operation, two out of four by the end of the second year, and three out of four by the fifth year. With these sort of statistics, it can be difficult to believe businesses can reach
warehouse and coffee education centre in Fyshwick, which attracts visitors and clients from afar. The Snowy Hydro Scheme, which played an important role in Canberra’s development, is back on the public’s radar due to Federal Government plans for a major expansion. Global engineering firm, SMEC, dates its origins back to the early days of the Scheme in 1949. SMEC has joined forces with Surbana Jurong and today has 110 offices in 40 countries throughout Asia, Australasia, the Middle East, Africa and the Americas. Earlier this year I was lucky enough to be
It is estimated that one in three new small businesses in Australia fail in their first year of operation, two out of four by the end of the second year, and three out of four by the fifth year. milestones like 10 years of operation, yet alone 20, 30, 40, 50 or even 60 years. A number of Canberra businesses turn 50 this year, meaning they have been part of the fabric of the ACT for nearly half its life. One such business is WR Engineering, who marks its 50th year in business in the ACT in 2017. For half a century, WR has been helping Canberrans with their fencing and garage door needs. WR enjoys a well-deserved reputation for serving every customer with utmost professionalism and integrity. During its 50 years of operation, this local, family owned business has generously supported the Canberra community, charities and sporting teams. In March, Canberra’s Bean!Roasters was recognised as the best coffee roaster in 28
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children, young people and their families. Its programs and services include child and family counselling, early intervention programs, foster care, post separation support, parent education groups, and family and mental health support programs. Marymead also offers person-centred support services for people with disability and their families.
invited to help GHD celebrate its 40 years in Canberra. GHD is one of the world’s leading professional services companies operating in the global markets of water, energy and resources, environment, property and buildings, and transportation. It provides engineering, architecture, environmental and construction services to private and public sector clients. GHD has over 200 offices across five continents – Australia, Asia, Europe, North and South America – and the Pacific Region. It is not only commercial businesses demonstrating their permanence in the ACT. Not-for-profit organisations have a long and proud history of helping our community. Marymead hit the big 50 in 2017. Since 1967, Marymead has been delivering a range of high quality, family support services to
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St Marks National Theological Centre has turned 60. St Mark’s strives to provide a program of high quality university-based theological education, postgraduate studies and research to people throughout Australia and overseas. Other businesses getting on up there in years, include Carways (47 years), Broadlex Services (43 years), and ACT Steelworks (40 years). These are just a few of the local organisations who have been with us for decades, and I want to congratulate all the businesses who are proving that sustainability is possible. I would also like to encourage all businesses, no matter where they are up to in their lifespan, to take a moment to celebrate their achievements, such as a year of operation, and think about how far they have come and where they still want to go.
Enjoy an evening of food and drinks while expanding your connections and learning how Servcorp can help your business. Details Date: 29 June 2017 Time: 6pm to 8pm Location: Nishi Building To learn more or register, visit www.canberrabusiness.com/events
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G2B
CHIEF MINISTER’S MESSAGE
Bringing the best to Canberra
Photo: Andrew Sikorski
ANDREW BARR
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Chief Minister | Treasurer | Minister for Economic Development Minister for Tourism & Major Events
anberra’s progressive and open nature is attracting some of the world’s best and brightest talent and companies to our city. As I mentioned in last month’s B2B Magazine, the Government is seeking to achieve our ambitions to becoming a worldleading city by playing to our strengths, and that includes when attracting and retaining national and global talent to Canberra. Jobs follow smart people and talent to the places they want to be and I want Canberra to compete for the world’s best.
or wanting, to live. These are reasons why Singapore, Basel and San Francisco have thrived in recent years and why Canberra is well-placed to join them. Our unemployment rate is consistently low, our economy is very strong, and we enjoy the highest average full time income in Australia. We’re working hard through Study Canberra to attract the best and brightest to our tertiary institutions, and working across government to keep them in Canberra after graduation. Creating opportunities through
Jobs follow smart people and talent to the places they want to be and I want Canberra to compete for the world’s best. When successful, this policy positively impacts businesses of all sizes. Talented people bring more companies, they bring positivity and more jobs. And Canberra has significant advantages. Being the nation’s capital city – the home of government, major research and tertiary institutions – is obviously a key Canberra advantage. But the quality of life, the ambiance and the facilities of a city significantly impact where talented workers are willing, 30
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a diversified economy keeps good minds in our city. The CBR Innovation Network is quickly becoming a hot-spot of young graduates with great ideas. The Network’s recent link-up with PricewaterhouseCoopers, Optus and King & Wood Mallesons is part of the creation of a hub of innovation and entrepreneurship in our city. We’re creating new training and job opportunities by working with local business through the Local Industry Advocate, with
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support and investment in key areas. These include health and sport science, space and special technology, and tourism. We listen to business and act through our Skilled Capital program, which offers subsidised places across a range of key vocational education and training qualifications in specific areas that businesses need. And we recently launched a Defence Industry Advisory Board to provide strategic advice to how we can maximise the benefit to the Canberra region of the Defence White Paper. Defence sectors are key future drivers of the diversification of our economy. By business and government working together to attract and retain talented people, our city can reach its full potential.
MIN EER 5 Artist’s impression Artist’s impression | MIN EER 5
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RSM Farewell Function - Mitchell Herrett Photography: Tim Benson Parlour Wine Bar To share these photos go to: facebook.com/b2bmagazinecbr
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RSM 2017 Federal Budget Presentation Photography: Tim Benson Hotel Realm To share these photos go to: facebook.com/b2bmagazinecbr
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