B2B in Canberra November 2012 (issue 77) by B2B magazine

CANBERRA RAIDERS AND OPC IT You can't manage what you can't measure

CANBERRA'S GRAPHIC DESIGNERS Spotlight on our graphic design agencies

THE ITALIAN JOB Adam Bak from FGD explains what happened b2bincanberra.com.au

NOVEMBER 2012

The voice of business make it your business! EFFECTIVE DELEGATION Andrew Sykes from RSM Bird Cameron exlains the art

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CONTENTS B2B EDITORIAL

Are you a 'philogynist*'? ... words: what do they really mean?

photo by Hot Shots Photography

There has been a lot of discusion recently about the definition of the word 'misogynist'. Though currently defined as 'hatred or dislike of women TIM or girls', femanist theorists have written BENSON millions of words attributing the term to Editor all sorts of people including someone that denigrates or discriminates against women and to sexual discrimination and violence against women. The question is: Can the meaning of a word change over time? And the answer is: Yes. Below I have written sentence that we would interpret one way that would have meant something totally different before the words took on their modern meaning: How 'awful' and 'artificial' it is to 'manufacture' 'counterfeit' documents. A 'brave' or 'nice' person would never do this. There was a time when this sentence would have meant the following: How 'full of awe' and 'artistic skill' it is to 'make by hand' 'a perfect copy' of a document. A 'coward' or 'ignorant person' would never do this. So the meaning of words change to suit the time and their usage. The other day someone told me that they had been 'electrocuted'. I had thought that this meant they had been killed by electricity, but now it means to be 'injured or killed by electricity'. So the meaning of words change. Here are a few more and what they meant previously: Accent – to sing, Afford – to advance, Apology – to defend against an accusation, Hospital – a place for the reception of travellers, Idiot – layman, Decimated– killing one in ten, Lord – guardian of the bread, Fabulous – related to fables, Fantastic – related to fantasies Rather than argue about the definition of a word, I think it to be more constructive to look at the context in which a word is used and why it was used. If we were to get the dictionary out everytime someone gave a speech we could get into a hell of a pickle and have a pretty good laugh along the way. English is such a wonderful language. We should rejoice in its richness and complexity. *Philogynist: a person who likes Please send all comments to or admires women. editorial@b2bincanberra.com.au

20 COVer STOrY

aCT & reGIOn CHaMBer OF COMMerCe & InDUSTrY

OPINION 5 The Italian Job - Farrar Gesini & Dunn explains what happened with the return of four sisters to Italy

FEATURES 10 Getting the most out of your employees - RSM Bird Cameron explains

14 You can't manage what you can't measure- Leave it to OPC I.T.

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CONTENTS

16 GRAPHIC DESIGN FEATURE 17 Papercut, Canberra’s environmental graphic design agency turns five

19 Zoo Advertising explains the tough process of coming up with ideas

COVER STORY 20 ACT & Region Chamber of Commerce and Industry The voice of business- make it your business 22 SRC Solutions- Commited to injury prevention and management

28 ADVICE FROM THE EXPERTS 29 ACCOUNTING Maximise sale of business by being prepared By RSM Bird Cameron

BUSINESS LAW Back to basics on ownership structures Part 2 By Elringtons Lawyers 30 CORPORATE GOVERNANCE Cut red tape to grow small business By Australian Institute of Company Directors ESTATE PLANNING The asset protection benefits of testamentary trusts By Certus Law

31 HEALTH Hansel and Gretel, cardiovascular disease and diabetes - what's the link? By Healthy Identity STRATEGIC FINANCIAL ADVICE Managing an elderly relative’s financial affairs By Perpetual Private

32 RECRUITMENT ICT Recruitment at a glance By PCE People TRAINING Taking advantage of technology in training By Learning Options A2B: ASSOCIATIONS TO BUSINESS 33 ACT EXPORTERS: Malaysia Australia Free Trade Agreement 34 CANBERRA BUSINESS COUNCIL: New ACT Government 36 ACT & REGION CHAMBER OF COMMERCE & INDUSTRY: May you live in interesting times BUSINESS NETWORKING 06 B2B @ Canbeera Business Council Gala Dinner 08 B2B @ Canberra send off for Camp Quality Escarpade 09 B2B @ Canberra International Film Festival Media Launch 37 PROPERTY 40 BENDIGO BANK Creating a better level of community amenity 42 BRINDABELLA BUSINESS BROKERS Do I tell my employees I am selling my business? 44 GRAPEVINE PROPERTY AND BUSINESS Wouldn't it be great if someone else could manage your landlord?

44 PUBLISHER I EDITOR

Tim Benson editorial@b2bincanberra.com.au 0402 900 402 02 6161 2751

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OPINION

The Italian Job What actually happened in the return of four sisters to Italy By Adam Bak, Solicitor, Farrar Gesini Dunn

he Family Court has endured heavy media scrutiny recently in a case in which a Judge ordered the return of four sisters, then aged between 8 and 14, to Italy. THE FACTS The brief facts of the case were that the mother, reported as Ms Garning, was born in Australia but moved to Italy when she was 16. She fell in love with the father, reported as Mr V, and they married and had children in Italy. Ms Garning and Mr V separated in 2008. In 2010 Australian passports were issued for the four children and Ms Garning brought the children to Australia. They remained in Australia for 2010 and 2011. THE LAW Australia is a signatory to the Hague Convention. The Hague Convention is an international treaty which, in summary, provides that each signatory will enforce and assist in the application the laws of the other countries. Relevantly for international parenting matters, any dispute as to living arrangements or other matters relating to children should properly be determined in the country in which the children were habitually resident before the removal or retention to another country. In this case there was no doubt that the children lived in Italy before their removal. The mother’s resistance to the children being returned to Italy was based on a number of grounds. Those included that the children were settled in Australia, that the father did not have and was not exercising rights of custody in Italy, that the father had consented or acquiesced to the girls coming to Australia, and that there was a grave risk to the children of being returned to Italy. The Judge, in an articulate and fairly lengthy 129 paragraph Judgement, addressed each in turn. Much of the media attention since has focussed on the wishes of the children.

Criticisms made of the Family Court focus on the Court not giving sufficient weight to the views of the girls. CHILDREN’S VIEWS Pursuant to the Family Law Act, the views of children are a relevant consideration. The Court is to take into account any factors, such as the child’s maturity or level of understanding, that the Court thinks are relevant to the weight it should give to the child’s views. We often advise clients that weight can be given to the views of a very mature 8 year old and is rarely not given to the views of a very immature 12 year old. That age range is commonly and generally expressed as the age when children’s views become significant. It is not uncommon to hear about teenagers who prefer to spend time with the parent who lets them have their bedroom door shut whilst spending time with their boyfriend or girlfriend, or to hear about children who align with the parent that is not so fussy about homework and eating vegetables. The law requires the Court to forensically examine the level of sophistication behind the children’s views. GETTING THAT EVIDENCE The law makes provision for children to have their own lawyer appointed. Independent children’s lawyers are specially trained in dealing with children and can elect whether or not to meet directly with the children to obtain their views, or whether to review the evidence and make their own informed assessment. In most parenting cases, the Court insists on evidence being provided from a child psychologist or similar expert, who prepares a report or gives evidence about the child’s views and the nature of the relationship that the child has with each parent. This is independent and at arms length and endeavours to move away from each parent giving favourable evidence about their own relationship with the children.

THE ITALIAN CASE In this case, the Court found that the girls’ objection to being returned to Italy was no more than the mere expression of a preference or of ordinary wishes. Matters under the Hague Convention require that the views be stronger than that. The expert evidence was that each girl missed aspects of their lives in Italy. The evidence was that the mother had instilled fear in the girls by telling them that if they returned to Italy she would be arrested. The Judge found this to be untrue. Mr V promised not to lodge any formal complaint. He offered, and was ordered, to pay the mother $8,000 so that she could fly back to Italy with the girls and be comfortable upon her return. OTHER MISCONCEPTIONS The Court did not order that the children live with the father. The Order made was essentially that the proper jurisdiction to determine the case was the Family Law of Italy. Indeed, that was where the children were born, lived and where the father lives. It is peculiar, in my view, that most of the criticism seemed to focus on the Family Court and the family law system in circumstances where findings were made that the mother had abducted the children from Italy to Australia and subsequently taken steps to influence their views and alienate them from their father. ADVICE? This is another situation where if the mother had sought and followed advice from an experienced family lawyer, the situation could have been better managed. When the matter is determined in Italy, there is little doubt that her decision to abscond with the children to Australia will be a very significant factor working against her. If you wish to discuss this article or require any Family Law advice, contact Adam Bak at Farrar Gesini Dunn on (02) 6257 6477

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F E AT U R E

Getting the most out of your employees At some point in your business life, you will probably need to learn the art of effective delegation. Delegation is more than just about letting go, it’s about supporting staff by ensuring they have what they need to do the job effectively.

ood delegation may also involve other things, such as enhancing systems to optimise performance. An effective delegator can bring together a team of staff to work synergistically, improve productivity and work results, and even achieve work-life balance for themselves. These are nine steps to effective delegation.

Letting go Effective delegation is about accepting that you cannot and should not do everything yourself. If you find it hard to let go, try delegating on a gradual basis, keeping in mind that by appointing a staff member you trust, you will be able to delegate without fearing that it will all go to pieces without your constant supervision.

Improved operations systems Setting up the right systems can allow you to monitor and review your day-to-day operations. Whether it is a streamlined IT system, new operations software, or a CRM, well-designed operations systems can support effective delegation by systemising certain tasks and enhancing record keeping. Clarifying responsibilities and expectations Make sure staff members have sufficient instruction to perform the task: • Clearly define the task that is to be delegated.

• Give specific and measurable instructions, and make sure the task is achievable and realistic. • The task should have a timeframe factored in so that the employee knows when it needs to be completed. Clear expectations can motivate staff by providing more certainty, and can allow you to better measure progress and outcomes. Enrich staff with tools and know-how Give staff members what they need to do the job, whether it’s a bit of mentoring, or additional tools and knowledge. As you delegate, assess the situation on a case-bycase basis. Depending on their skill-level, some staff members will need more supervision at first. Others might be able fly solo from the beginning. This is an integral part of growing your staff and building a strong workforce and organisation.

Keeping the lines open Delegation is sometimes said to be a collaborative or two-way effort. Part of your task instructions might be a reporting time schedule, or job milestones when staff should update you. These are useful check points to build into any project or task. You should also make it clear that you’re available for support, clarification, and guidance along the way.

Delegation is not resignation Delegation doesn’t mean you are no longer responsible. It means you’ll have

Andrew Sykes is a partner at RSM Bird Cameron. RSM Bird Cameron, 103-105 Northbourne Ave T:6247 5988 E:Canberra@rsmi.com.au W:www.rsmi.com.au 12

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ultimate responsibility for the outcome. Make the right decisions before you delegate to minimise the risk of failure or nonperformance. Appoint the right staff member to the job before actioning it. As the project is undertaken, ensure that you monitor progress regularly.

Reviewing and feedback Progressive reviewing and feedback is even more vital for larger jobs. Give specific, taskbased feedback throughout the project where appropriate. This can keep staff working on the right track. Asking for staff feedback is also important, as it lets you know how it is working for them.

Measure the outcome When the task is finished, take time to assess the outcome. How successful was the project? Performance should be measured against the initial expectations and responsibilities that were provided to the staff member. Measuring and reflecting on the outcome allows both you and staff to learn from the experience.

Acknowledge and reward Providing acknowledgement can boost staff motivation and encourage responsibility in the future. Acknowledge your staff members’ efforts and recognise their achievements.

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F E AT U R E

Don Furner, Canberra Raiders CEO and Brett Norton, OPC Managing Director

Photos by Andrew Sikorski

YOU CAN’T MANAGE WHAT YOU CAN’T MEASURE

Information Technology (IT) has become a fundamental part of everyday life! It has revolutionised the way we work, learn, play, move around, communicate with one another, and even sleep!

F E AT U R E

he things people do with IT are as interesting as they are endless. Increasingly we are seeing a trend towards the use of mobile technology – laptops, smart phones, iPads, tablets – that have become a permanent accessory on every person from 10 to 110. Keeping connected wherever you are has become vitally important. Take the mighty Green Machine – the Canberra Raiders, for example. The Raiders utilise an athlete tracking system that helps the Raiders coaching team measure and manage their players in order to find ways to improve their performances, customise training and game play regimens for individual players, and help prevent injury and aid rehabilitation, keeping players on the field for longer. The system allows the Raiders to achieve this by monitoring the individual players speed, number of sprints, distance, accelerations, and heart rate metrics all while the players are playing or training. At a team level, using the technology on game day helps the coaching staff measure and understand the physical demands placed on each player, their field position during the game and their style of play. It also helps refine game strategy as all the information is fed straight into a laptop right there on the field! Additionally the system provides a way for the players to see and understand what’s happening on the field making it a wonderful tactical strategy tool. Showing a real-time bird’s- eye view of team position, structure, movement and space allowing the team to step off the practice field and view an instant replay of their movements in a simplified version, further enhancing the teaching side of coaching. “The GPS tracking equipment and analysis has been vital in my rehabilitation since injury early last season. It lets me know how I am performing in the gym now against my performance before I sustained the injury, keeping me on track to make the field next season. Thanks to OPC the medical staff and fitness coaches have access to this information when and where we need it.” Terry Campese, Canberra Raiders Captain

So, mobile technology assisting mobile technology! It all comes down to clever use of, and reliance on, your IT. For the Canberra

Raiders - it’s critical. And that’s where OPC comes in. OPC’s Managed Service Solution provides the Canberra Raiders with complete peace of mind. The Raiders are comfortable with the knowledge that OPC has qualified engineers and comprehensive toolsets monitoring their ICT environment 24x7 to ensure that when the team needs the information necessary to perform on the field it is always available OPC’s Managed Services Solution has been supporting the Canberra Raiders since 2005 and has recently taken over providing Managed Service support for the entire Raiders Group. We know how crucial IT uptime is for the Raiders continued success. “OPC’s support keeps us ahead of our opponents in respect to game day preparation. The reliability of our system at Raiders HQ enables us to successfully run programs like GPS Sports and Analyser which are valuable tools in the players’ preparation for upcoming games” says Canberra Raiders CEO, Don Furner.

OPC is proud to support Canberra’s local team and can be seen on the sidelines at every home game cheering them on! Our aim at OPC is to demystify and simplify our clients’ entire IT experience. By incorporating all facets of IT, OPC can provide a single end-to-end fully managed IT solution, reliably and consistently. Our clients have complete peace of mind that they really can just ‘leave i.t to us’. • Fully Managed IT Services • Project Management & Consulting • VMware Server & Desktop Virtualisation • Helpdesk & Service Desk Support • Business Continuity & Disaster Recovery • Procurement Services • Dell Server & Storage Solutions • Desktop, Laptop and Mobile devices • Website Design & Development • Custom Drupal Development • Panoptic Monitoring & Website Hosting • Accessibility Compliance Testing 31-37 Townshend Street, Phillip ACT 2606 P: 02 6162 8300 F: 02 6282 6558 www.opc.com.au

Clinton Henderson, OPC Technical Services Manager and Terry Campese, Captain Canberra Raiders

D E S I G N F E AT U R E

CANBERRAâ&#x20AC;&#x2122;S

GRAPHIC DESIGNERS There are some things that you shouldnâ&#x20AC;&#x2122;t do yourself Businesses use accountants and bookkeepers to keep their finances in order and lawyers to negotiate the legal requirements of their profession, yet many businesses still insist on keeping design in-house. Unfortunately the results of this frugal approach are predictably disappointing. Canberra has many great graphic design agencies who are more than capable of producing outstanding looking products for your business.

I N F O R M A T I O N T E C H NDOELSOI G GN Y F E AT U R E

Graphic Design Canberra’s environmental graphic design agency turns five

laire Connelly and her team at Papercut Graphic Design are celebrating their five-year milestone this year – and what a successful five years it has been. “In year one of Papercut I started with myself and one designer occupying one room of the 1950’s style house in Turner. The whole house has been converted to studio space, and five years later we have filled five rooms in the house with a dedicated team of five,” Claire said proudly.

Papercut’s friendly team of skilled graphic and web designers will create the perfect visual expression of your product or service. During this relatively short period of time Claire and Papercut have also clocked up an impressive amount of awards including: Caring for the Environment (2011), Business Woman of the Year (2010) and Environmental Innovation (2009). “Much of our success is due to making sustainability the norm in our business rather than the exception, this is our point of difference – we practice what we preach and we attract clients who hold similar values around caring for the planet, and being mindful of our precious resources. However, we would not have had these successes without our great team of designers and our supportive and loyal clients” Claire said. Claire’s Papercut team comprises: Kate Brennan (studio manager), Meagan Spedding (designer/webmaster), Susannah Luddy (designer), Tamar Mavlian (designer) and Grace Connelly (admin/social media). Surviving five years in business is

something to celebrate and doesn’t come easy as Claire explains. “Building the business has taken a lot of hard work. When I started Papercut I thought it would improve my work-life-balance. In reality I’ve given up many a weekend in lieu of work since the business started, but I wouldn’t change a thing.” Papercut offer a wide range of services including: • logo development • publication design and typesetting • brand and identity solutions • web accessible services • web design and development, and • social media campaign development. According to Claire the future is very bright for Papercut. “I plan to continue growing the business and eventually move into some larger open plan office space in Braddon,” Claire outlined. In addition to graphic design, Claire has branched out with a branding consultancy called ‘The Image Project’. This new consultancy is a collaboration of four professional business women: Claire Connelly (graphic designer and owner of Papercut), Amanda Whitley (public relations professional and owner of HerCanberra.com.au), Fiona Keary (image consultant and owner of Style Liberation) and Sarena Cross (relationship coach and owner of Miruslife). “This new service is predominantly for businesswomen to work with them on their branding and personal style. If you want to reposition and

rebrand yourself for the next phase in your career, or if you want to improve your image perception and professional persona, then we have the team and tools to work with you to achieve this,” Claire said passionately. Papercut is also a partner with the ACT Social Enterprise Hub and undertakes pro-bono design work for community organizations and social entrepreneurs in the Canberra community. Papercut’s friendly team of skilled graphic and web designers will create the perfect visual expression of your product or service. “We love working with clients who share our passion for creative design and innovation – especially those who value sustainability as we do,” Claire explained. Papercut Graphic Design 18 Bent Street Turner ACT 2612 PO Box 6264 O’Connor ACT 2602 T 02 6162 4045 | F 02 6162 4046 E claire@papercut.net.au www.papercut.net.au www.facebook.com/ papercut.canberra

elly Conn Claire

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Thought through

Being creative is hard work. Coming up with new and interesting ideas is tough. Skipping from one client to the next – from furniture stores to building developmen ts to licensed c l ubs to food markets – involves originality whirring around at rocket speed and there is a need to harness that energy.

ZOO Advertising recognised this more than most. So they’ve created a way to streamline their talent by forming something they’ve dubbed the “creative hub”, a collection of four creatives who excel at different things but who work together on projects. This might sound rather wishy-washy and there might be several of you out there rolling your eyes, but it’s an approach that Clint Hutchinson, Managing Director and one of the four, insists is not a gimmick. “It’s not your usual advertising model. There’s no single overarching creative director who sits in a vacuum and makes final decisions – it’s a bunch of creatives working together to get the

The fusion of strategy and creative is not necessarily a new one, but working so closely together is fairly unique. At other agencies, strategists come to the creatives with directions and the creatives take it from there, but this is a system that has everyone in the trenches together. While each has their own speciality, all four dip their toes in everyone else’s discipline. So while John concentrates on the visual elements of the design, he might have opinions on the messaging. Martin likens it to the Justice League. Everyone has their own powers, but we all work together. I’m more like Superman, Clint, I guess, would insist on being Batman, John can be the Flash and Jimi can be…um...dunno I’ve forgotten the rest of the Justice Leaguers’ he laughs. ‘Maybe Wonder Woman?’

Thought t job done.”

“It starts at the business problem,” Clint continues, “It’s my job to understand the client’s business. As a businessman, I can talk to them at their level and that’s important.” Then, Jimi Bostock who is Creative Strategist moves into the project.

“My job is to ask the important questions about who we want to talk to and how we should talk to them.” Jimi explains.

“I like to say, fall in love with the questions and the answers will come,” he adds. Creative Copywriter, Martin Fleming and Art Director, John Ruman then come into the mix to find the creative idea that perfectly matches the business need and the strategic brief.

The process seems to be working, with the hub winning work left, right and centre. John is a fan of the new way. “It’s not always easy. Whenever you have a bunch of strong personalities, there’s always going to be differences of opinion. And sometimes there are clashes. But we’re getting better and we’re learning to accept that.” Martin agrees. “You’re no longer just working by yourself. You have back-ups and there’s surprisingly less ego involved when you’re splitting the workload.” He goes on to joke, “If it goes well, you celebrate together; if it goes awry…we blame Jimi.” Whatever the formula, it is working and it’s an exciting time to be part of the rise and rise of

A C T & R E G I O N C H A M B E R O F C O M M E R C E & I N D U S T R Y F E AT U R E

The voice of business make it your business! Text by Dr Christopher Peters

he ACT & Region Chamber of Commerce and Industry is very grateful to B2B for making this feature possible. B2B is a leading business-tobusiness publication in Canberra and as the leader of the business community in the ACT and the Voice of Business, the Chamber works closely with the team from B2B. The Chamber has served the ACT and region business community since 1936. This is an exceptional amount of time; we are the longest established and leading business association in the ACT and region. The Chamber has gone through several name changes throughout this time, including ACT Employers Association, Canberra Chamber of Commerce, Confederation of ACT Industry and Fyshwick Traders Association. For the last 15 years, we have been known as the ACT & Region Chamber of Commerce & Industry. Together with the other state chambers of commerce, the ACT Chamber is a proud founding member of the Australian Chamber of Commerce and Industry (ACCI). ACCI is the leading national organisation supporting and connecting business of all sizes. Through its network of State Chambers and national industry associations, ACCI represents some 350,000 businesses in Australia employing around 4 million continued pg 24

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A C T & R E G I O N C H A M B E R O F C O M M E R C E & I N D U S T R Y F E AT U R E

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risks and we can assist to develop cost effective measures to reduce the risk of injury and illnessâ&#x20AC;&#x2122;, says Louise. SRC Solutions support organisations with a range of services including: Training, Work Health and Safety (WHS) consulting, and Return to Work Management. We are also an accredited Workplace Rehabilitation Provider. Our rehabilitation providers include a team of occupational therapists, exercise physiologists, nurses and physiotherapists, guaranteeing reliable guidance to both workers and their employers. SRC not only has robust systems in place but have strong relationships with specialist consultants to support both the injured worker and their employers. We assist to implement best practice early intervention strategies tailored to your workplace. We know the impact injuries have on employers and their workers, not only in relation to cost but to the time it takes, in some cases, before an injured or ill worker is able to return to work. Our return to work consultants are proactive, innovative, responsive and reliable with solid experience

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people. This makes ACCI the largest and most representative business association in Australia. ACCIâ&#x20AC;&#x2122;s members range from top 100 companies to hundreds of thousands of micro, small and medium businesses. ACCI is our link to the International Chamber of Commerce, and a number of international institutions including the International Labour Organisation. As the â&#x20AC;&#x2DC;Voice of Businessâ&#x20AC;&#x2122; in the ACT and region, the Chamber plays a very important leadership role in representation and advocacy of business interests to government, the media and wider community. We do so through our heavy involvement with the ACT and Federal Governments including ministers, politicians, officials and through a large number of government boards and consultative forums. I am a member of some 20 government committees and I appreciate the opportunity to contribute to the business community and the wider community through these committees. The Chief Minister, together with her Ministers, have convened economic roundtables,

infrastructure roundtables, skills roundtables, and budget roundtables throughout the year to ensure the government and the business community, work cooperatively together through these complex times. I am a member of a small group called the Canberra Cabinet. It is chaired by the Chief Minister, the Deputy Chair is the Deputy Chief Minister and there are five non-government members. This Canberra Cabinet has presented me with enormous opportunities to represent business and the community on all aspects of government policy. The Chamber provides a range of services to help meet the challenges facing business today, and help them succeed. We assist our members with their workplace relations issues, advise members on their responsibilities and represent members before commissions and tribunals. We hold a large number of events and information sessions for our members to connect, remain informed and up-to-date. At the Chamber, we also provide advice to members on employment, education and training issues

and opportunities. We assist our members with issues that directly impact on their business such as planning, government procurement, skills development, foreign employees and their visa issues, legislative and policy issues. On behalf of the Federal government, we run the Ready schoolbusiness partnership program We survey our members on a quarterly basis. Questions in the survey include expectations for the performance of the Australian and ACT economy over the next 12 months in comparison with the last 12 months. The survey also asks members to indicate how their business has performed over the past 3 months, relative to the previous 3 months, according to 10 different measures. In addition, we ask members how they believe their business will perform over the next 3 months compared with the past 3 months. This information provides valuable readings on the strength of the domestic economy and enables the Chamber to pursue relevant continued pg 26

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policy issues with government and allows government to be directly aware of concerns that the ACT and region business community have. We have a number of current affiliated organisations including:• Chamber’s Women in Business • Retail Traders Association of the ACT & Region Inc • Australian Industry & Defence Network (Canberra) Inc • ACT Association of Providers of Training Services Inc • Security Professionals Registry • Indigenous Business Chamber of Australia Inc • Multicultural Business Chamber of Australia Inc Our electronic newsletter, Chamber News, continues to be a great source of information for members, promoting Chamber and local business events and focussing on issues and advice relevant to Chamber members. During the last 12 months, the Chamber has also conducted over 60 member events,

including :• Federal Budget Breakfast • ACT Budget briefing • Annual Golf Day • FairWork Information Seminars • Women in Business lunch Series • Meet the Leaders luncheons in the lead-up to the ACT election • Workplace Relations Training Seminars • Our monthly, Business after Business events • and Young Business Network events There are also breakfast seminars, business lunches, dinners and workshops, all focused on topics relevant to the business community of the ACT. The skills shortage (fast becoming a skills crisis) continues to be at the top of the list of concerns for all employers in Canberra – business, ACT Government and Federal Government. The ACT Government’s Live in Canberra program has helped a lot – but on its own it will not solve our skills shortage. Encouraging our mature age population to delay their

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retirement for a little longer is the only solution that will make a significant difference. This will require employers to offer even more flexible working conditions to the babyboomer generation. Another challenge is our two-speed economy. Overall, our economy is remarkably strong – third only to the resource-rich States of Western Australia and the Northern Territory. But, within that, sectors of retail and hospitality continue to hurt – and hurt badly. Federal government budget cuts and the national political uncertainty have combined to result in a lack of consumer confidence. If you are not already a member of the Chamber, I encourage you to do so. Our Business Development Manager, Ms Jo Madsen, will be pleased to help you. Best wishes for the holiday season and best wishes for the New Year. 12a Thesiger Court, Deakin ACT 2600 T 6283 5200 chamber@actchamber.com.au www.actchamber.com.au

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ADVICE 29 29

ACCOUNTING

CORPORATE GOVERNANCE

ESTATE PLANNING

HEALTH

STRATEGIC FINANCIAL ADVICE

RECRUITMENT

TRAINING

Maximise sale of business by being prepared by Ken Johnston, RSM Bird Cameron

BUSINESS LAW Back to basics on ownership structures Part 2 by Cassandra Emmett, Elringtons Lawyers

Cut red tape to grow small business By Phil Butler, Australian Institute of Company Directors

The asset protection benefits of testamentary trusts By Stephen Bourke, Certus Law

Hansel and Gretel, cardiovascular disease and diabetes - what's the link? By Robbie Manzano, Healthy Identity

Managing an elderly relativeâ&#x20AC;&#x2122;s financial affairs By Sean Ryan, Perpetual Private

ICT Recruitment at a glance By Allison Guy-Ritchie, PCA People

Taking advantage of technology in training By Karen Nicholas, Learning Options

ACCOUNTING

Maximise sale of business by being prepared

By Ken Johnston

Baby Boomers need years of preparation to get the most out of the sale of their small to medium enterprises (SMEs). A recent poll of SME owners suggests 45 per cent of respondents plan to exit their business within five years. However, a similar amount of owners are not adequately prepared and have no plan to maximise the return on the sale of their greatest asset.

Experts agree at least three to five years are needed to properly prepare for the sale of a business; the place to start is to get the business independently valued and assessed. Experts agree at least three to five years are needed to properly prepare for the sale of a business; the place to start is to get the business independently valued and assessed. That way potential buyers can see what the business is worth, what the annual turnover is and how much tax is paid each year. Another key concern is how much capital gains tax will have to be paid when the business is sold, and how can a seller go about minimising this figure? Strengthening customer contracts is a great way of adding value to a business, consider the biggest customers, is there a contract in place or a mutual agreement? Having hard copies of contracts with your customers will help to grow potential buyer’s confidence. Having great, well trained staff in place is of huge benefit to any business, buyers will want to know if the current staff will stay on after the owner leaves. Owners are expected to speak to staff about the sale of the business to ease concerns over their future. Being able to guarantee a team of well trained staff is an important selling point to potential buyers. Key points when selling a business • Prepare for the sale at least five years prior to selling. • Strengthen ties with key customers and draw up contracts where possible. • Train staff to run the business without the owner being present. • Speak to staff about selling the business. • Prepare documents for sale of business as early as possible. • Do not sell if the timing is wrong, be patient and be prepared to wait until the right buyer is found.

BUSINESS LAW

by Cassandra Emmett

Corporate ownership of a business is often recognised for its perks including the ability to raise capital, flexible tax arrangements, ease of transferring ownership and succession. However, it is important to consider the limitations of this structure before setting up your business with corporate ownership. Many perceived benefits are neutralised by law or practice. In particular, business owners who are looking for personal protection will find that it is limited in the following circumstances: Personal guarantees the universal position that company owners are protected from the liabilities of the company by the ‘corporate veil’ is distorted by the fact that lenders and creditors routinely call for directors to provide personal guarantees for their debts. It is unusual for a corporate trading entity to have any sort of financing or an overdraft without personal guarantees. Similarly, where business premises are leased, directors' personal guarantees in the lease are the norm. Onerous Directors Duties there are strict statutory obligations associated with the role and responsibilities of being a director. The company structure does not afford protection to company directors who fail to lodge financial data and reports associated with the business activities as and when they are due. Also, directors are required by law to be continuously well versed in the company’s operations, income and debt levels. The time, costs, and penalties associated with these requirements can divert attention and resources from other aspects of the business. Insolvent Trading Directors who incur a company debt without a reasonable prospect of being able to repay the debt can be personally liable to the company and creditors for those debts, and additionally can be prosecuted and penalised. Directors must at all times ensure that the company is solvent. Limited asset protection during family disputes The corporate veil also fails to protect assets during a family law dispute. This is because the family court can ignore company ownership and instead consider the question “who has control”. Liquidation claw backs When a company goes into liquidation, a liquidator has the ability to “claw back” assets or funds that are recently transferred out of the company if it can be inferred that those transactions were designed to defeat creditors of the company. In other words, a company that disposes of an asset to a family member and later goes into liquidation will have that transaction scrutinised and possibly reversed. Overall, a company can be a useful vehicle for owning, controlling and disposing of a business and will offer some personal protection for the business owner. However, there are limits on that protection which require careful consideration and advice.

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For more information, please contact Ken Johnston at RSM Bird Cameron, on 02 6247 5988 or ken.johnston@rsmi.com.au

Back to basics on ownership structures Part 2

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

CORPORATE GOVERNANCE

by Phil Butler

Cut red tape to grow small business

While economic uncertainty continues across most of Europe, recent figures released from the UK have shown the first signs of growth emerging from the Small-Medium Enterprise (SME) business sector. The figures show a staggering 455,000 companies being registered in the 2011/2012 financial year, accounting for 59 per cent of private sector employment and almost 50 per cent of business turnover in the UK. This is an encouraging sign for the UK economy. Similarly in Australia, growth in the SME sector is a key indicator of strength in the Australian economy. According to the most recent Government figures, more than two million small businesses employ almost five million Australians and produce about one-third of our economic output. The SME sector really is the ‘lifeblood’ of the Australian economy. Despite this, small business owners are still hampered by excessive red-tape with government regulation and the burden of compliance continuing to be a drag on the sector. According to the NSW Business Chamber’s Annual Red Tape survey (2011) 65.9 per cent of businesses said that complying with government regulatory requirements has a moderate to major impact on their business. Further, the Australian Institute of Company Directors’ April 2012 Director Sentiment Index found that nearly 70% of directors dealt with more red tape now than they did 12 months ago. Directors of small to medium businesses were particularly concerned about the current industrial relations environment because of its growing adverse impact on workplace flexibility and productivity. It is our view that while good regulation can support the smooth functioning of business and society, regulation which is redundant, poorly designed or administered is a significant issue for small businesses. To encourage entrepreneurship and make it easier for SMEs to do business, Australia must find the right regulatory mix. The Australian Institute of Company Directors remains committed to assisting Australian businesses grow and evolve through better governance. Likewise we are committed to championing the need for a more sensible regulatory environment. To do this, we have released a Working Paper, Business Deregulation – a call to action, designed to stimulate discussion about deregulation and with the eventual goal of developing workable strategies to achieve regulatory reform. Feedback received will inform a final policy Position Paper on deregulation which the Australian Institute of Company Directors will use as a tool in its advocacy efforts to achieve change. We are seeking feedback from the SME director community about how red tape and regulation impacts your business. To have your say, please email DeregulationPolicy@companydirectors.com.au.

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

N O V E M B ER 2 0 12

B2b In Can berr a

ESTATE PLANNING

by Stephen Bourke

The asset protection benefits of testamentary trusts

Last month we discussed the Taxation Benefits of Testamentary Trusts. This month we will look at the Asset protection benefits of these trusts. We will use the same case study from last month... Bob is a widower who dies leaving three children: • Jack – aged 30. He is in the process of separating from his wife and earns $100,000 per annum. He has two young children. • Jill – Aged 26. • Bill – aged 14. His estate consists of: • House $800,000 • Car $15,000 • House Contents $30,000 • Superannuation Death Benefits$800,000 As is noted above Jack is separating from his wife. If Jack were to receive his share of the estate without a testamentary trust ($504,332) it would be exposed to an order of the Family Court. The property as it is in his possession and control and falls into the definition of property. While it is true that the court would be likely to give significant weight for the contribution he has made to the matrimonial pool from his inheritance, it is still nevertheless exposed to a claim. How much credit would be allowed for the inheritance depends on a number of factors. When was the inheritance received? How much was received? How much other property is there? It is not unheard of for a sizeable chunk of “the inheritance” to go to the other spouse following family law proceedings. Likewise if Jill uses her inheritance to buy herself a house and then forms a relationship it would be exposed to a claim by a future partner the same way as Jack’s share of the inheritance would also be at risk. What would happen if there was a Testamentary Trust? Most testamentary trusts these days include a clause that states that the primary beneficiary (Jack and/or Jill) would lose the power to appoint a trustee and also be removed as a trustee. The property in the testamentary is not the property of the party before the Family Court. They merely have the right to be considered as an object of the trust. The court may treat it as a financial resource. But the capital of the trust may be excluded. In this way, the inheritance would be protected. If Jill were to borrow the money to purchase her house from the trust (which ideally should be on market rates) the trust would be a creditor to her. Alternatively, the trust could buy the house and rent it to her. If she becomes bankrupt or a creditor tries to seize the house it is not her house or her rights in the property are only limited to the equity she may have in the property. In this way, her inheritance is protected. With some thoughtful planning and advice. you can establish a testamentary trust in your will that will ensure that your kid’s inheritance is protected for them and for your future descendants for years to come.

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

HEALTH

By Robbie Manzano

RECRUITMENT

Hansel and Gretel, cardiovascular disease and diabetes - what's the link?

Life is a messy process - there is no denying it. And anyway, what fun would it be, if we didn’t get dirty once in a while? The game we call “life” needs to be constantly monitored, as a fast and furious lifestyle can cause serious and deadly health repercussions. Fortunately, globalisation has seen developed countries like Australia increase their life expectancy and lower communicable disease prevalence. In fact, a comparison report by AWIA (2005-2010) illustrates the wealth of Australia’s health care system. Compared to other nations, Australian males and females rank 4th and 3rd, respectively, in average life expectancy. Furthermore, from 1901 to 2009, life expectancy from birth in Australia, increased from 55 to 80 years for males and 59 to 84 years for females. According to the above statistics, all seems well. It seems the power of globalisation has been nothing but a fairytale, as we lounge in our gingerbread house watching our elephant sized LCD television. Hmm... gingerbread house? I've heard that somewhere. The famous Hansel and Gretel fairytale ended with the witch falling in the oven and everyone living happily ever after. Little did we know, Hansel and Gretel ended up dying a couple years later from an unknown cause. With scientific knowledge and technology derived from globalisation/industrialisation, we can now confirm cardiovascular disease (CVD) and type 2 diabetes are to blame for Hansel and Gretel's lifespan falling short of their life expectancy. The sugary foods the evil witch fed them finally finished what she set out to do - sorry children. Yes, I know it's a story and we all know fairytales cannot end this way. However, I'm sad to say, reality suggests otherwise. Statistics illustrated by AWIA (2011) indicate, in 2007-2008, an estimated 3.5 million Australians suffered from long-term CVD; and type 2 diabetes has been increasing steadily each year. Furthermore, obesity rates in all population groups have increased dramatically in the last 2 decades. Through globalisation, Australia's social and physical environments support obesity. Food choices are now based on convenience and cost, while exercise for health-benefit is being overlooked due to family and work commitments. These weaknesses are further exposed through clever marketing social media and a profitable food industry. Consequently, unhealthy lifestyle behaviours are evident within our society. "We have the resources to control our social and physical environment. We have the power to improve, maintain and promote health if we chose to do so" So it's time to take responsibility, as individuals and as community members. Once we commit to change, we can finally change the social and physical environment to support healthy living. Until then we're going to lose the fight in regaining control of our messy lives. Robbie Manzano is founder and managing director of Healthy Identity. Robbie has degrees in Human Nutrition and Coaching Science from the University of Canberra and is currently completing a Graduate Certificate Public Health from Curtin University. robbie.manzano@healthyidentity.com.au 0423 366 014

ICT recruitment at a glance

By Allison Guy-Ritchie

Over the past 6 months we have seen a downward shift in the amount of ICT opportunities available in Canberra through major events, such as a large amount of voluntary redundancies within the Government sector and the recent ACT election. In saying that there is still work out there, it just takes a little more work from experienced and well networked recruiters to find it. Like most markets, Canberra

We maintain close relationships with our broad client base to ensure that we are current and up to date with any opportunities that arise in the market. has ebbs and flows which is considered normal activity. Coming up to the Christmas break, things are starting to slow down as people begin planning their leave over December and January. Our prediction is that the market will start up again around Valentines Day 2013. This will give people time to come back from holidays and start their recruitment to finalise the end of financial year budgets and projects. We are seeing more specific technical roles available at the moment rather than help desk and tester roles. Project Managers and Business Analyst will continue to be in demand as the projects start up again after the Christmas break. Our advice to candidates starting to look in the market is try and stay in your current contracts until the new year, this will get you over the Christmas period and give you a fresh start to the New Year. You can spend this time updating your CV to make sure it is current and has all of your recent experience outlined. For those people trying to break into the ICT market, build a strong relationship with an experienced and reputable recruiter who you trust and who can give you the right advice for the current market. Although this is anemployer market, nothing will stop you from getting work if you present yourself in a professional manner and you are willing to put in the effort to find the right role for you. Don’t always settle for the first offer; make sure that you are going into a role that you will enjoy and that you can get fulfilment out of. This will make your life happier and make your hard work spent looking for work worthwhile. What can PCA do to help? PCA’s ICT recruitment team has over 20 years experience in the sector and works closely within the ACT market to help those people seeking employment opportunities. We maintain close relationships with our broad client base to ensure that we are current and up to date with any opportunities that arise in the market.

For more information contact Dean or Louise on 62571010 or email Dean.hill@ pcapeople.com or Louise.Dickson@pcapeople.com

TRAINING

By Karen Nicholas

STRATEGIC FINANCIAL ADVICE

Taking advantage of technology in training

The huge success of devices such as the iPad provides great opportunities for training companies to further embed online learning technologies in to the training room. As an increasing number of students BYOD (“Bring your own device”) to training, the opportunities for training facilitators to take advantage of applications and emerging technologies increases without the need for costly investment in items such as interactive whiteboards and videoconferencing equipment. There is no excuse for ‘death by PowerPoint’.

Learning Options is engaged in two exciting projects: one looking at Augmented Reality (AR) Some of these opportunities are presented by freely available apps. An app as simple as ‘Socrative’ can help a trainer to create an engaging learning experience by broadcasting a quiz or taking a poll. Students enter their answer or response on their device and the results are collated on the trainer’s device – often an iphone, that can then be displayed on screen. You don’t need to be a trainer to use it either. What a great way to engage meeting participants! Some of the more advanced opportunities come in the form of project funding through the National Vet e-Learning Strategy. Projects selected for funding under the strategy see training companies partner with business and community organisations to develop vocational skills. Projects may be using high speed broadband, or exploring new and emerging technologies covering a wide range of industries. Learning Options is engaged in two exciting projects: one looking at Augmented Reality (AR) in the context of first aid training and the second to use elearning to develop workforce planning skills amongst member businesses of the ACT & Region Chamber of Commerce and Industry. Augmented Reality (AR) is a term <http://en.wikipedia.org/ wiki/Augmented_reality> for a live direct or an indirect view of a physical, real-world environment, in which elements are augmented by computer-generated sensory input, such as sound or graphics. The project will use the technology to create visualisations of medical images or video onto objects and places that can then be viewed via an installed AR application. To find out more about the National Vet e-Learning Strategy and how your organisation can become involved in a project, take a look at www.flexiblelearning.net.au

Karen Nicholas is the Director of Learning Options Level 3, Endeavour House 2-10 Captain Cook Crescent Griffith ACT 2603 T: 6260 6677 | F: 6260 6300 www.learningoptions.com.au

N O V E M B ER 2 0 12

B2b In Can berr a

by Sean Ryan

Managing an elderly relative’s financial affairs

As your parents or family members age, it can become challenging for them to make important financial decisions or to manage their investments. An enduring power of attorney relating to financial and property matters is a vital document, ensuring that a trusted delegate can take over financial affairs in situations where a person has impaired decision-making capacity. The attorney should of course be trustworthy and willing to take on the role, have the person’s best interests at heart, have an appropriate skill set to deal with the person’s financial affairs, and be able to make decisions in a prudent and impartial manner. However, these characteristics cannot always be found amongst a person’s family or circle of friends. Alternatively, there may be uncertainty that the desired attorney will be willing and able to perform the role when the time comes, or there may be concerns that conflict will arise relating to the management of the person’s finances. In these and other situations it is prudent to consider the role that a professional trustee may be able to play. The appointment of a professional trustee as attorney for financial and property matters, relieves family and friends of the burden, and ensures that appropriate decisions are made in the person’s best interest regardless of the circumstances. Some common situations where a professional trustee may be of assistance: • People no longer able to manage their financial affairs e.g. due to age, illness or accident. • People awarded compensation payments and court determines a trustee or financial manager is required. • People concerned that their financial affairs may cause family conflict. • People concerned that their preferred attorney may not be able to perform the role. • Minors receiving significant sums of money, e.g. via inheritance. Perpetual Private advice and services are provided by Perpetual Trustee Company Limited (PTCo) ABN 42 000 001 007, AFSL 236643. This has been prepared by PTCo. It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider whether the information is suitable for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. Any information referenced in the article is believed to be accurate at the time of compilation and is provided by PTCo in good faith.

For more information contact Sean Ryan, Senior Adviser, Perpetual Private. Direct: 02 6243 6505 Email: sean.ryan@perpetual.com.au

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

A2B

Innovation drives export growth for Canberra

atapod (Australia) Pty Ltd is a truly innovative Canberra business that has won a swag of awards including an Australian International Design award and an Engineering Excellence Award for its clever application and development of technology. To cap off this stellar winning streak they have recently been awarded the winner of the Small to Medium Manufacturing ACT Exporter Award for 2012. Datapod (Australia) Pty Ltd has developed a product offering that meets the growing demand for data centre engineering expertise. The system is a comprehensive suite of manufactured data centre modules, designed to be deployed in any number of configurations and interchangeable to adapt to every changing space, power and cooling demands of computer/ IT technology. They provide a complete turn-key data centre facility which significantly reduces upfront construction capital, improves energy efficiency and eliminates construction risk as the entire facility is factory tested before it is deployed. Datapod (Australia) Pty Ltd has developed an energy efficient cooling system that utilises low ambient temperature conditions and has patented a system that utilises the waste heat generated by computer and IT equipment. The system is able to be rapidly deployed, is modular, scalable and adaptable. Scott Carr, CEO of Datapod (Australia) Pty Ltd said “Datapod has experienced strong growth and increasing opportunities both domestically and internationally because we have defined the needs of this industry for reliable data centres, and are designing and building to international standards. The Datapod system meets the demanding needs for data centres worldwide. Over the next two years the export opportunities are enormous because the Datapod system provides a solution to a universal problem, and we are anticipating exponential growth.” Datapod (Australia) Pty Ltd expansion plans include opening an office in South East Asian in 2012.

Datapod is a great example of the type of innovative, progressive companies that Canberra is renowned for. Canberra has a competitive advantage building, supporting and growing these companies because of our core attributes such as our highly educated and knowledge intensive workforce. Canberra Business Council and the ACT Exporters’ Network wish Datapod (Australia) Pty Ltd and all of the ACT Export Award Winners good luck to at the 50th Australian Export Awards National Ceremony which is being held in Canberra on Tuesday 27 November, 2012 at The Great Hall, Parliament House, Capital Hill, Canberra. The other ACT Export category winners going to the 50th Australian Export Awards National Ceremony are: • Agribusiness - Inland Trading Co (Aust) • Arts And Entertainment - Bearcage Pty Ltd • Emerging Exporter - Locata Corporation • Information And Communication Technology XP Solutions • Minerals And Energy - Digitalcore Pty Ltd • Small Business - Recruitment Systems Pty Ltd • Small To Medium Services - Seeing Machines Limited • Large Services - Aspen Medical • Act Exporter Of The Year - Aspen Medical If you are interested in attending the 50th Australian Export Awards National Ceremony act quickly as there are limited seats available. If you want to attend as part of the Canberra Business Council contingent then please contact the ACT Exporters’ Network Manager. The ACT Exporters’ Network works with exporters from the Canberra region, to build opportunities in overseas markets. If you require assistance, would like to be involved in our events, or find out more about the Network, please visit our website (www. actexportersnetwork.com.au) or contact Ellen Pope, ellen.pope@canberrabusinesscouncil.com.au or (02) 6247 4199.

ELLEN POPe

EXPORTERS NETWORK MANAGER

For more information on the ACT Exporters’ Network visit actexportersnetwork.com, or contact the Network’s manager, Craig Malcolm, on 0438 808 233, Craig.Malcolm@ canberrabusinesscouncil.com.au. The ACT Exporters’ Network is proudly sponsored by the ACT Government, Canberra Business Council, the Centre for Customs & Excise Studies and AusIndustry.

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Next ACT Government CHRIS Fa U L K S

CEO CANBERRA BUSINESS COUNCIL

AFFILIATED WITH

Principal Members Australian Computer Society, Actew Corporation, ActewAGL Retail, BluePackets, Brookfield Multiplex Services, Canberra International Airport, CanPrint, Cantlie, Cre8ive, Elite Sound & Lighting, Ernst & Young, eWAY, Hindmarsh, ISIS, KPMG, Master Builders Association (ACT), National Australia Bank Limited, PricewaterhouseCoopers, Staging Connections (ACT), The Village Building Co, Toshiba (Australia) Pty Limited, TransACT Communication, PricewaterhouseCoopers 34

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s this publication goes to press votes are still being counted to determine the shape of the next ACT Government. Whichever way the numbers fall, the next ACT Government will have a crucial role in shaping and securing the ACT and Capital Region‘s economic future. Now that the campaign is over, it is time to re-state the ACT’s business community’s priorities for the next ACT Government and the important economic and business issues affecting our city and our region. In the aftermath of a campaign that was focussed almost entirely on municipal priorities – rates, roads and rubbish – the importance of a strong and diversified economic base to pay for the high standard of services our community demands cannot be overstated. Without a strong economic base; without a thriving private sector that continues to employ people and pay taxes – we will not be able to afford the health, education and transport services that we expect. While the local economy has good momentum, it is entering a complex period in the short–term and a precarious economic future in the longer term. The economy is dominated by two industries: public administration (30.8 per cent of economic output) and construction (9.2 per cent). The third largest industry, professional services (8.6 per cent) is closely coupled with and reliant on the first two. In relation to the first of these industries, the biggest employer in town, the Commonwealth Government, is now putting on the brakes and is preoccupied with slashing expenditure to deliver even a wafer-thin surplus. There is an increasing need to diversify the economic base in the ACT to insulate Canberra from the “shocks” associated with these cyclical cutbacks in public sector procurement and employment. In relation to property, the ACT Government’s over-reliance on land sales and property taxes for its revenue base is unsustainable. Housing construction in the ACT is slowing, while land is a finite resource that cannot be exploited indefinitely. We are facing a deficit over the short to medium term. In addition, Canberra increasingly has to compete with other capital cities, regions and internationally for skilled workers, students, business, infrastructure investment and tourism. In this environment, we need to identify and build on our

B2b In Can berr a

strengths; and our government needs to facilitate a framework within which the private sector can establish, thrive and grow. An economically sustainable future for Canberra will require a greater emphasis on industries that are less reliant on the Commonwealth Government. These include education and training (currently 6.1 per cent of output); tourism and accommodation; arts and recreation; information, media and telecommunications; and manufacturing - all of which have significant growth prospects. So what is Canberra Business Council’s business and economic “wish list” for the next ACT Government? • First priority is economic diversification, which has as its central plank innovation and entrepreneurship - starting new businesses and industries and sustaining existing ones. Businesses that have an export focus. This relates to leveraging the potential of the Canberra and regional innovation system. • Second priority is balanced budgets, clearly articulated expenditure priorities, value for money and contestability and competition in the delivery of government services, and a commitment to regulatory reform. • Third is investment in enabling infrastructure, including water and energy security, telecommunications infrastructure, an efficient public transport system, world-class conference facilities, and development of the Canberra airport as an international tourist destination and freight hub. • Fourth is connectivity to regional, national and global economies. Canberra needs to be connected to the region and the east coast of Australia by High Speed Rail (HSR); connected to the region and beyond via a tri-modal freight hub; connected to rest of the world by High Speed Broadband (NBN) and by direct international flights through an international airport. • Fifth is building our education industry by leveraging off the competitive advantage provided by our unique cluster of world-class research and learning institutions. • Sixth is investing in research and facilitating the commercialisation of knowledge from research organisations to create and extend new

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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

technology-based enterprises. • Seventh is the Small Business Environment. Taxation and red tape are the most costly and intrusive aspects of the interaction between Government and business. Getting the tax structure right and initiating broader reforms to reduce or eliminate the regulatory burden are the most constructive reforms that governments can make to promote a productive economy and competitive business sector. Ensuring access by small business to high quality ICT infrastructure and services is also critical. • Eighth is innovation in Government including accelerating the commitment to e-Government; creating an open access to data protocol that enables innovation and realisation of Canberra’s Digital City potential. Public sector transformation needs to focus on improvement in service quality and standards, clear enhancements in cross agency coordination, modernising procurement arrangements, and red tape reduction through streamlining approval, compliance and reporting processes. Canberra needs a governance structure that is lean (but not mean), prudent and innovative. Public sector innovation can, and does, support innovation in business and the broader community. This is

the essence of Digital City strategies around the world. • Ninth is ACT / Commonwealth Government Relations. Sound working relationships between the Commonwealth and ACT Governments and between Government and the business community, are essential to stimulating economic growth in the Region. • Tenth is a focus on expanding International Trade from the ACT including a commitment to increase high-level government-to-government interactions and programs to facilitate export development. Canberra Business Council‘s priorities for the next ACT Government centre on policies that will leverage off and enhance Canberra‘s competitive advantages to achieve greater diversity in our economic and industry base, build a competitive, productive and sustainable private sector, create employment and deliver economic growth. In a nutshell, the next ACT Government must ensure that its expenditure, taxation, and regulatory frameworks support and encourage investment and private sector growth, and do not provide disincentives for entrepreneurs and businesses to establish and grow in Canberra.

UPCOMING EVENTS 1 November 2012 Connect@Brumbies HQ TIME: 6pm VENUE: Brumbies HQ, ! Austin St, Griffith 16 November 1012 SAP Luncheon- Mental Illness & Workplace Wellbeing TIME: 12:30-2pm VENUE: Hyatt Hotel 30 November 2012 Outlook 2020- Water, A Key to Canberra’s Future TIME: 12:30-2pm VENUE: Hyatt Hotel Visit www.canberrabusinesscouncil.com.au for registration

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May you live in interesting times

DR CHRISTOPHER PeTerS

CHIEF EXECUTIVE

here is an old Chinese curse “may you live in interesting times” and the last 12 months have certainly been interesting! I expect the next 12 months will also bring many challenges.

These are all challenges we have to face. However, we are still a very fortunate community in the luckiest country in the world. Our overall economy continues to be strong. Our economy and our very low unemployment rate are the envy of the western world.

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The ACT election has brought to all Canberran’s the opportunity to think about our future, prioritise what services we believe we need and how we are prepared to pay for them. We have significant challenges in funding massive increases in the health budget – due to the ageing of our population and the significant increase in the costs of medical technology. This ageing of our population will also require significant increases in aged care facilities. Canberran’s are rightfully proud of our education systems, but we need to do even better if our workforce is going to continue to be competitive. Our universities and our vocational teaching organisations need to keep up with the demands of an ever-changing workforce and one that is demanding increases in skills and constant updating of skills. Life-long learning is now a by-word of our educational requirements. Increasingly, individuals are taking responsibility for their own skilling and reskilling as the workplace becomes increasingly more flexible and people are more inclined to switch jobs and change careers. The skills shortages continue to get worse in Canberra. Indeed, our skills shortage will move to a skills crisis over the next 5 years. That’s because some 47% of the ACT population are baby boomers – my generation – and nearly all of the baby boomers will retire over the next 10 years – and most will retire over the next 5 years. That’s some 150,000 Canberrans retiring. We, the Canberra community have to decide

how we are going to deal with these, and many other challenges. We can’t keep operating in the “old” system of how ACT Government raises its income. The sale of land for residential, commercial and industrial purposes, together with stamp duty, brings in a great deal of income to government, but it is finite and is expected to run-out in 20 years time. We can choose to do nothing now and lump the problem onto the next generation. Or, we can take the responsible approach and face these challenges now and work on solutions that can gradually deal with these challenges. I am very pleased that the Gallagher Government has been working closely with the Chamber and others in developing changes to our tax system so that our community can continue to receive the level of services expected and the chance of future financial crisis can be reduced. One way of helping, is to broaden our tax base by broadening our economy. The Chamber is working with ACT Government on attracting more cyber-security businesses to the ACT. These skills are in demand and they are a natural “fit” for the ACT’s smart hi-tech economy. The largest customers – national security and defence – are at our door. We also have the challenge of the lack of consumer confidence brought about by political uncertainty in the Federal arena. This is having negative outcomes for small business generally, but particularly in retail and hospitality. I don’t see this changing until after the next Federal election. These are all challenges we have to face. However, we are still a very fortunate community in the luckiest country in the world. Our overall economy continues to be strong. Our economy and our very low unemployment rate are the envy of the western world. We need to keep perspective of how to seize opportunities and commercialise them, how we can keep fine-tuning our business to ensure it is as competative as possible, how we can recruit and retain staff and how we can ensure we have a strong future – both for our business and for our community. Best wishes for a peaceful and enjoyable holiday season. Best wishes for the challenges we will all be facing in the new year.

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BENDIGO COMMUNITY BANK

Now offering tenant advocacy services

The pluses of of banking with a community bank

Property to Prosper BUYERS AGENTS…working for you

Assisting you to take advantage of the amazing investment opportunities in the Brisbane Property Market Property to Prosper does the ground work to offer a selection of brilliant investment opportunities. We provide a full boutique service which will secure the very best investment opportunity for you. We have more than 8 years experience specialising in the Brisbane market. Experience is essential when you invest interstate. We understand the Brisbane market and our role is to “pick the eyes out of the available opportunities for our clients”. We understand the areas of undersupply and what is in the supply chain as well as the factors that are going to underpin sustained growth. We can show you how you can you can purchase and hold a quality investment property and pay less than $25 a week to hold it. The current market is ideal for investing with solid population growth leading to increasing demand and with low interest rates, high yields and low vacancy rates, now is the time to take action. Those who wait for the upturn to gain momentum will only end up paying more for the investment. p: 02 6257 3368

• Hot opportunities from 2km to 20km of the CBD with proximity to major infrastructure, transport nodes, schools, universities & services • Prices to suit your investment strategy and financial position from a low $350,000 to $600,000 • High rental yields in excess of 5% • Wide range of properties including house and land packages, townhouse developments and apartments • Properties ready to buy today or capitalise off the predicted growth with a deposit on off-the-plan investment options

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Do you have a commercial lease? Are you looking to take up a new lease, exercise your option on an existing lease or do you need to renegotiate your current lease? Speak first to leasing 360.

Do you understand the process as well as your landlord? p: (02) 6257 3368 e: info@leasing360.com.au w: leasing360.com.au

Our role is to even the playing field and have you as informed as possible when negotiating the deal.

Delta prides itself on after sales service with a team of qualified refrigeration mechanics to maintain your Airconditioning systems, ensuring that they are working to their optimum capacity. Delta Airconditioning and Heating has supplied Airconditioning solutions to a wide range of commercial and domestic clients throughout the years, being an authorised Daikin specialist dealer allows them to source the right equipment for any situation.

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CREATING A BETTER LEVEL OF COMMUNITY AMENITY

here are real pluses in working in Community Banking, it allows community minded people to act in unique and innovative ways to achieve mutual goals, making our city a better place to live. Since reaching profit in 2007, Molonglo Financial Services has now added over a million dollars to the capabilities of local clubs, groups and charities to deliver services and benefits to our community. The board generally supports policies and programs that offer the most opportunities to the widest range of people. We accomplish this by constantly growing, and with two new branches opening in the last 12 months; we have been able to extend our reach across the Capital region.

The Bendigo Community Bank model is about creating an even better level of community amenity All it takes is a customer opting to take their home loan from one of our banks, and they know that the profits earned by the local community bank company from their interest go straight back into their community. The Community Bank Model offers a genuine opportunity to provide massive financial benefits to the Canberra and Queanbeyan communities with ease. The continuation of these benefits relies on a healthy economy,

a competitive Building industry and valuable properties around the city. We strive to keep these communities growing by boosting local economies to provide thriving shopping centres and access to small business owners and most recently, health services. As a result of our customer’s simple choice to bank with us, they can now rest easy knowing that they helped with the funding of new bulk billing health care centres in Chisholm, Kippax, and Evatt. This was due to the ACT Government’s initiative in bringing us together with the West Belconnen Helath Co-op in an innovative new partnership to work towards a common goal; enhancing our community’s health services. When it comes to contributions like this, it becomes clear that we are not just any bank, we’re run by the community, for the community. The people of Canberra had to do one thing to get this new health care centre off the ground, bank with us. Imagine what could be accomplished (at no cost to ratepayers) if the Government agencies simply banked with the only locally owned and operated bank? With a budget of $4 billion, even the profits from $1 million could pay for breakfasts for a primary school for a year. Our profits from $10 million would allow the Community Bank to pay for a tertiary scholarship for 5 disadvantaged young people to one of Canberra’s universities. The profits from $200 million banked with us could allow

the Community Bank to pay for another Community Health Co-op in Woden or other areas of South Canberra. The possibilities are endless. Canberra is so often and so inaccurately referred to as a city without a soul. Yet every day I see people putting others first and making life a bit easier for them. Lately I have been working to assist some new arrivals to our city – refugees with some very big challenges in front of them and it has been a privilege to watch how diverse groups across Canberra, voluntary organisations, unions and individuals can come together for a shared objective. Canberra is a great city and it deserves to be championed by people who give a damn about the future of the entire community, otherwise we would be ignoring the fact that we’re incredibly lucky to live here. The Bendigo Community Bank model is about creating an even better level of community amenity, and relies on affordable housing – successful builder business clients, and government agencies able to engage with the building industry and improve the delivery of services to the community. When we all start to work together and think outside the box, the end result is innovating thinking and stronger communities; two things we’ll continue to pursue into the future.

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

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DO I TELL MY EMPLOYEES I AM SELLING MY BUSINESS?

Jason Klose, Managing Director t: 0414 890 286 jason@bbbrokers.com.au www.bbbrokers.com.au

common question I am regularly asked is do I tell my employees I am selling the business? As usual there is no simple answer. Most business owners I talk with expect the worse, i.e. their key employees will leave as soon as they advise them they are selling the business. So what should you do? From experience, businesses that are selling who have told their employees have found they do not leave the business. Reason being it is explained to them that they will play a large part in helping the business sell. Buyers want to buy strong businesses with hard working employees. The new owner is purchasing based on past performance and this performance i.e. profits, have been achieved because of key employees. However if you have been rewarding your employees through

KINGSTON CAFE WITH NO COMPETITION This cafe has come onto the market as this corporate client has identified it does not fit within their long term goals of their business. So what you will be purchasing is: 5 day a week operation; Like new fit out with no competition; Strong lease with reasonable rent.

Price $220,000 + SAV

other means you may find these employees will move on if you are selling the business, as they will be concerned the current arrangements will not continue.

So even before you are ready to sell your business. Start making talking with your employees and let them know how important they are to the business. So even before you are ready to sell your business. Start making talking with your employees and let them know how important they are to the business. When you make the decision to sell again you need to ensure your employees understand how critical they are to the businesses success and buyers will notice this as well.

YARRALUMLA CAFE CAFE/WEDDINGS/GALLERY not many times do you talk about location but this cafe in Yarralumla is the exception and buyers will understand why. Further supporting the location is extremely low rent. Currently 3 businesses are run from the location: Cafe serving breakfast and lunch (run under management); art Gallery with purchased and consignment pieces and Weddings on weekends.

$430,000 + SAV

ICONIC QUEANBEYAN RESTAURANT

NORTHSIDE SUPERMARKET

If you have been looking for a proﬁtable restaurant, with little owner involvement and includes a near new ﬁt out of the whole premises, this is the restaurant you have been looking for. This restaurant has traded under the same name for 35 years in Queanbeyan and very iconic with both Queanbeyan and Canberra. Generates a return to the owner of over $200,000.

This award winning express supermarket ticks all the boxes you require for a strong supermarket business. Owner return averages $300,000 per year. excellent weekly turnover averaging $96,000.

Price on request

$1,485,500 + SAV

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

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Wouldn’t it be great if someone else could manage your landlord …

anberra’s boutique property consultancy Grapevine Property has introduced another service to its business – tenant advocacy. According to Grapevines director, Mark Blinksell, the tenant advocacy service, will focus on the commercial and retail leasing markets. “We are actively looking clients that are seeking assistance in negotiating and managing landlords or just don’t have the time or expertise to give the job justice,” Mark said. Mark’s experience includes operating at a senior level in the commercial arena for over 25 years. Including representative roles for Capital Property Trust, Mirvac and other major organizations. Mark and his team and bring to the table a wealth of knowledge and experience. “When it comes to rental reviews, lease expiries, renewals, make good obligations and general property management challenges; Grapevine Property can add value to your decision making, and facilitate a successful

outcome,” Mark explained. Grapevine Property has an acute awareness of the many issues that a tenant must be across when confronted with the complexities of managing a commercial and retail lease. “We offer a fully integrated service, including assessment of the current lease agreement, unbiased Stay-Go options in the case of a lease expiry, or the need to expand or contract within your existing tenancy,” Mark outlined. Grapevine Property has an extensive contact base in the commercial leasing market, and construction and design services sectors. Through this network a new fit out, or refurbishment, can be fully project managed to take account of all your needs. “This service can also include business related assets such as IT, VOIP, furnishings, and logistical relocation planning,” Mark said. Grapevine Property is also a licensed real estate and business agent, so the option to buy or sell, whatever the individual case may be is fully catered for.

“As a long term property professional, I am passionate about good quality property management practises. Sadly, this is not always the case. That is why we are committed to helping you achieve a better, and more attractive deal,” Mark said passionately. Grapevine Property offers strong negotiation skills attuned to an intimate knowledge of how to achieve the best long term tenancy result. “We would welcome the opportunity of confidentially discussing your particular issue, and to to delivering a positive long term landlord/tenant outcome,” Mark concluded. Grapevine Property and Business Mark Blinksell Director 80 Dixon Drive, Holder ACT 2611 T 02 6295 7149 | M 0418 519 031 E markblinksell@greapvine.com.au

Commercial

Kambah 9 Jenke Place New Commercial Development •

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•

Suitable for shops, professional and medical use

• •

Waniassa 38 Gartside Street All Offers Considered - Be Quick!

Lease $350 - $485psqm pa plus GST View By Appointment

Excellent parking; onsite & ample public parking adjoining

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First floor office 184m2*

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168m2* ground floor restaurant space in Erindale food precinct

Sale/Lease

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Existing fitout; kitchen, exhaust, grease trap, gas, amenities, large open dining and parking

View By Appointment

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Offering shop frontage, disabled Andrew Smith 0409 600 471 facilities and air-conditioning 6162 0681 rwcanberra.com.au

Functional fitout and reserved parking Appeals to any business

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Commercial

Canberra

Deakin 6 Geils Court Well Presented Boutique Office Unit

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Lease

Deakin 2 King Street ‘A’ Grade Office Accommodation

Lease

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Areas from 230m2* - 964m2*

$340psqm pa plus GST

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John Price 0412 266 194

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Modern & innovative architecture Andrew Smith 0409 600 471 Designed to achieve 4.5 6162 0681 rwcanberra.com.au NABERS ratings

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Commercial Fyshwick 27 Yallourn Street Don’t Miss Out, Move in Before Xmas! • • • •

New strata development with basement parking Ground floor units with mezzanine Amenities, kitchenette and air-conditioning units Small units ranging from 100m2* - 300m2*

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Sale/Lease Negotiation View By Appointment Troy McGuinness 0413 499 735 6162 0681 rwcanberra.com.au

Commercial Canberra

Phillip 40-42 Corinna Street Great Investments in the Heart of Woden • Three great ground floor investment units available • Unit 1 - 91m2, leased to Dentist, gross income of $50,525* approx, 5+5 years • Unit 2 - 132.1m2*, lease to Real Estate, gross income $83,000* approx, 10 year term • Unit 3 - 223.5m2*, leased to Suncorp Insurance, gross income $117,258*, 5 year term + options • Fantastic opportunities

Sale POA Andrew Smith 0409 600 471 6162 0681 rwcanberra.com.au

Commercial Canberra