CCBR April 2016

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Print Post Approved – PP100001854

Vol 26 April 2016 Published monthly (except January)

business review

COL ADAMS

Survivor and gentleman in a troubled industry Mariners Centre of Excellence move for North Construction Mars’ commitment for Better food today, A better world tomorrow McDonald’s to sell local fruit juice

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Cover story 4 Col Adams – Survivor and gentleman in a troubled industry

Business news 7 McDonald’s to sell local fruit juice 8 Survey results on Contact Centre industry 9 Mariners Centre of Excellence move for North Construction 10 Mars’ announces commitment to Business Purpose – Better Food Today, A Better World Tomorrow 11 RR Taylor wins Sri Lanka order for medical waste treatment units 12 Robson Partners continues acquisition strategy 12 Tony Myers joins Raine & Horne Commercial 13 NBN Television appoints Central Coast Manager 13 Mercedes-Benz Gosford staff recognised 14 CEO appointed for The Entertainment Grounds 14 Evocca College collapse puts focus of TAFE

Contact

14 McNamara welcomes competition changes 15 Sanitarium buys former brewery site 15 Gosford Council gets $13 million for Kibbleplex 16 Commercial and industrial properties for sale / lease 17 Mariners Centre of Excellence sales 18 Employers caught in the middle with nowhere to go 19 Five clever questions to ask your accountant 19 How many $$ did you save me last year?

20 Prestige property reports 21 CCBR March Cocktail Evening 22 Funny business 23 Business Services Directory

Regular features 6 Edgar Adams Editorial

Buying local works 12 Business Briefs 15 Property News 18 Business Tips 20 Prestige Property Reports 22 Funny business

Front cover: Col Adams

Hear Edgar Adams’ business comment 8.10am each Monday.

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Central Coast Business Review Central Coast Business Review is a Registered Trade Mark of Adams Business Publications Pty Ltd P.O. Box 3259, Erina, NSW 2250 Phone: (02) 4367 0733 Fax: (02) 4367 0744 Email: info@ccbusinessreview.com.au Typesetting by Graphic by Design ph (02) 4365 6777 Print & Distribution by Bromley Direct ph 0412 439 773 © Adams Business Publications 1994. All rights reserved.

Reproductions in any part prohibited. While every effort has been made to ensure all information in this magazine is accurate, no responsibility will be accepted by the publisher, Adams Business Publications. The producer accepts no responsibility for illustrations or photographs supplied by organisations or individuals and/or typographical errors.

Phone 02 4367 0733 Fax 02 4367 0744 Email info@ccbusinessreview.com.au Web www.ccbusinessreview.com.au

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CENTRAL COAST BUSINESS REVIEW APRIL 2016

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COV ER S TORY

Col Adams – survivor and gentleman in a troubled industry COL ADAMS’ STORY is reminiscent of the classic tale of David versus Goliath. In his case (and the case of many other small independently owned smash repair businesses around the country) the battle is against the insurance giants that over the past decade have had such tight control over the industry they are threatening its very existence. Adams, who has owned and managed Harris and Adams Smash Repairs for the past 38 years, has seen both good times and bad in his West Gosford based business.

But through all the challenges, which have been significant, Adams still loves the trade he joined on his father’s recommendation at the age of 14. He also prides himself on remaining in control of his own business and destiny despite his industry going through purgatory during the past 10 years.

Growing up in Sydney, Adams followed in his father’s footsteps by choosing a career in the motor industry. Leaving school at the age of 14, Adams completed his apprenticeship at Hillermans, a family owned smash repair business on the North Shore. Adams served his apprenticeship under Donald Harris, who was 25 years his senior, and during this time the pair developed a strong bond. Adams and Harris left Hillermans together to work at a new body shop before Adams was offered a position at Graham Watson Prestige Smash Repairs, where he had the opportunity to work on motor vehicle makes like Rolls Royce, Ferrari and Lamborghini.

CENTRAL COAST BUSINESS REVIEW APRIL 2016

By Phaedra Pym

Adams and his wife and two young daughters moved to the Central Coast in 1974. He continued to commute to Sydney for a further three years before he and Harris (who also lived on the Coast) decided to join forces and start their own smash repair business, opening a workshop in West Gosford where the business still operates today. Specialising in the prestige car market from the outset, Harris and Adams quickly made a name for themselves as trusted repairers who take exceptional pride in their workmanship. They have been a BMW preferred repairer for the past 28 years and continue to be widely regarded as the best smash repair business on the Central Coast (Harris passed away in 2000 and the business has continued to run bearing his name under Adams’ sole management).

Business was thriving and at one stage operated with a solid team of 15, including tradesmen and apprentices. People were taking their cars to Harris and Adams from as far away as Sydney and Newcastle and they had a strong loyal customer base on the Central Coast. While customer loyalty continues with repeat and referral business still the number one lead source, the business was hit a major blow when the Rudd Government changed the Motor Vehicle Insurance and Repair Industry Code of Conduct, which in effect gave insurance companies free reign to take control of the industry.

Since then insurance companies have had their own preferred smash repairers and those shops are forced to work to a criteria set by the insurance companies.

“Once you become one of their repairers you rely on their work and if you step out of line, they can cut you off,” said Adams.

“What’s more, most people don’t realise that if their car is out of warranty, smash repairers are forced by the insurers to use second hand parts to repair those vehicles.

And they don’t tell the owners; but we do,” said Adams, adding that it makes no difference how prestigious the car is – BMW, Mercedes-Benz, they’re all repaired with second hand parts once out of warranty.

“It drives us mad because we have to find the part for starters, and then we’ve got to make it look new and they (the insurers) don’t pay us any more for that,” said Adams, who is an ‘Associate Repairer’, meaning people can elect Harris and Adams as their preferred repairer, bypassing the recommendation of their insurer.

Ironically Adams is sometimes referred work by insurers (albeit mostly the difficult jobs no one else can handle) because they know his work is always of a high standard.

“What they (insurance companies) are trying to do is create mega-shops or what I call ‘sausage factories’ with 60-80 employees that use unskilled labour, mainly to put the cars back together again, which is a real worry when it comes to safety but also for small businesses like us where 90% of

COV ER S TORY

our work is insurance-related,” said Adams.

“I liken the situation to what Coles and Woolworths are doing to the farmers. It’s big corporations trying to maximise their profits at anybody’s expense. They just don’t care.” Not surprisingly, Adams and his wife are firm believers in buying local and avoid shopping at the mega-supermarkets.

In March 2014 the NSW Government launched a parliamentary inquiry into the relationship between insurance companies and smash repairers. The Motor Traders’ Association (MTA) estimates thousands of unsafe cars could be on Australian roads and says insurers having repairs carried out on “a price, rather than quality”, is driving the problem. The inquiry continues.

Another issue that has had devastating effects on the smash repair industry is the decline in skilled tradespeople. “Very few TAFEs now offer panel beating,” said Adams.

“It is a major concern because we’re not getting new staff coming through,” said Adams.

The last time Adams took on an apprentice was 6 years ago. Today his team of 8 tradesmen has an average age of 40. Sharing his workshop with a mechanic who is around the same age as Adams (approaching 70), Adams said to him recently, “When we leave, the Encyclopedia closes. We’ve got so much knowledge and no one to pass it on to.”

While most of his friends are enjoying their retirement years, Adams said retirement is not on the cards right now, although he admits cutting back to a few days a week

Col Adams and Technician David Lewin would be appealing. Sadly Adams remarked, “Would I start an apprenticeship in this trade now? No! If I had a son would I steer him towards the trade? No!” Adams is a true survivor in business. “We survived the GFC and the high interest rates, which were a killer,” said Adams. And

to his credit, Adams has never let the bullying tactics of the insurance companies get the better of him either. “I will never roll over. It’s not the way I am,” said Adams. “I like to run my business my way and that is with integrity and to give people the quality service and results they deserve.”

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EDITORIAL

Edgar Adams discusses local issues

Buying local works THIS MONTH WE report on a deal that local citrus grower and fresh fruit juice processor East Coast Beverages has done with McDonald’s Central Coast restaurants.

This is a very good story because corporations like McDonald’s have well established buying policies which is one reason why they are so successful. More so, though, the larger the business the more difficult to break into the system. It’s just the way business is done these days for efficiency’s sake.

On the other hand, the idea of buying local does make very good sense and this is particularly the case when we get out into regional Australia.

Buying local helps support the economy which in turn supports the business. It’s a two-way street.

Of course the usual caveats have to apply - quality, supply capability and price being the prime issues. After all, to do business we all have to be competitive.

The deal that East Coast Beverages has done with McDonald’s franchises on the Coast is great news for the Central Coast.

Because it reinforces and helps create more jobs for the local economy.

East Coast Beverages employs thirty people. The McDonald’s deal reinforces their jobs.

CCBR is aware of other large businesses on the Coast who would benefit by offering their customers high quality locally produced fresh fruit juices produced by East Coast Beverages.

Of course East Coast Beverages is just one example of a local company trying to break into the local market.

There are many more local manufacturers and service providers who are equally competitive with Sydney or other suppliers from elsewhere.

Generally speaking, these local suppliers can offer far better service too – after all they are on the spot.

So the next time you buy a product or service that you think could have been provided locally, ask for it. It’s good for our region!

Our Cover Story this month is as much about the man as it is about an industry.

An industry that has been decimated by the big insurance corporations that dominate it and are slowly destroying it.

We are talking about the smash repair industry, an industry once made up of thousands of small workshops, some dodgy, many inefficient but most honest efficient businesses whose aim it was to bring your smashed up car back to the condition it was originally in.

Those honest and efficient smash repairers remained in business because they were good tradesmen and knew that by doing a good job their customers would be driving cars that were safe to drive when they went back on the road.

With the advent of the giant insurance companies that dominate the market, just

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like the major supermarkets Coles and Woolworths, it’s all about the shareholders (mostly mutual funds and superannuation funds) and getting them double digit returns.

Col Adams talks about how the industry has been taken over by these companies.

He also talks about the decline in skilled tradespeople in his industry and how very few TAFEs offer courses.

The TAFE issue for numerous trades is of concern to many businesses from builders to mechanics to locksmiths, metal workers and others.

The future of our trades is as important today as it has always been. Just impossible to get politicians and bureaucrats to understand it.

We will be reporting on this issue in the near future.

Edgar Adams Editor

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CENTRAL COAST BUSINESS REVIEW APRIL 2016

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commercial

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BUSINESS NEWS

McDonald’s to sell local fruit juice KULNURA FAMILY OWNED citrus farming and fruit juice business East Coast Foods and Beverages has been placed on McDonald’s recommended supplier list as part of their ‘test and learn’ programme for the 17 Central Coast restaurants.

East Coast Beverages Business Development Manager Samuel Lentini said that Ron Mussalli who owns ten McDonald’s franchises on the Central Coast had recommended their product to the company’s head office.

“We hosted representatives from McDonald’s head office on our farm and through our juice processing factory at Kulnura and I am happy to say they were impressed.

The products to be introduced are 300 ml 100% Orange Juice, 100% Apple Juice, 100% Pineapple Juice, Country-style Lemonade as well as a recently introduced product Jive brand Kiwi Peach Smoothie and Apple Carrot Ginger Smoothie, both in 300 ml sizes.

The local product will go on sale in all McDonald’s Central Coast stores from April 4th and will be supported by a marketing campaign that will include radio and instores tastings.

The Lentini Family have owned a citrus orchard at Kulnura since 1965 when Salvatore Lentini moved to the Coast with his family. All three sons Sam, Mick and Frank have continued to run the business and expanded into juice processing and spring water bottling from the springs on their own property.

Commenting on Lentini’s being added to McDonald’s Central Coast supplier list, Mr Mussalli said, “We are happy that the

region’s restaurants are able to put their support behind a local business.”

“As a local resident and business owner myself, I’m proud that we are able to partner with Eastcoast Beverages to sell their products in 17 additional locations across the Central Coast. I encourage locals to grab a meal and juice from Macca’s to show their support for Central Coast owned and operated businesses.”

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CENTRAL COAST BUSINESS REVIEW APRIL 2016

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BUSINESS NEWS

Survey results on Contact Centre Industry THE RESULTS OF a recent survey of the growing Contact Centre Industry on the Central Coast by Forsythes Human Resources for the NSW Department of Industry has found that the industry employs around 858 FTE* employees among the ten contact centres that responded to a recent survey of the industry.

With about twenty-two contact centres on the Coast this would indicate about 1,800 people are employed in this industry in the region.

A report which is the result of the audit show that of this number 70% are female and 80% are aged 35 to 44 years of age indicating that the region appears to offer a healthy parallel of local population to industry workforce demand.

The report concludes that an assumption could be made that this family-oriented region is abundant with females re-entering the workforce, after time out spent raising the family, who now require flexibility in their full time commitment, and shift work enables a more balanced work/life experience.

Likewise, a change in career for employees with transferrable customer service skills or experience, yet little qualification alignments also presents an ideal match for an industry showing real signs of growth.

Managers in the Central Coast’s contact centre businesses, who took the time to share insight into the local industry, were clear about the increasing workload, the need for swift and best fit recruitment and training of new team members. The potential for growth, not just within the region, but in utilising technology, innovative processes, more insight into government assistance schemes and industry collaboration to fast track and optimise business and employee performance.

The survey was undertaken on behalf of NSW Department of Industry to develop a regional proposition for attracting new investors and economic growth, and ensure government assistance is being utilised to its full potential, as well as build on industry networks to better enable the local contact centre industry.

Questions were asked about a range of issues, including the business and employment profiles of the centre, remuneration and benefits, recruitment and training, innovation and technology, and growth and investment.

The findings were insightful, offering a focused snapshot of the various industries with contact centres in the regions, the challenges they face in business, recruitment and retention, and linkages or lack of between like-industry businesses.

There are six different industries represented by contact centres on the Central Coast, with one of those, and the greatest by number of businesses, being government bodies. Many of the businesses in operation represent statewide or national brands, with one offering global brand presence and two with contact centre facilities offshore.

All, bar one business, regardless of their utilisation of recruitment agencies, face

some challenge in attracting the perfect candidate with a combination of availability, flexibility, job and industry experience, and minimum qualification/s, across one or more of the four core contact centre roles for which they recruit.

Notably, the Central Coast’s contact centre industry’s minimum qualifications are very low, with two of the four key roles identified not requiring any formal qualification, and the remaining varying in expectation as the role increases in rank.

The more niche the job role or industry, the more challenged the business is in finding candidates with relevant experience.

Across the board, base salaries and benefits are on par with a steady increase for each role, though it is very clear that private enterprise is able to offer a more significant remuneration for higher ranking roles and, presumably, a more alluring incentive scheme for those working their way up the corporate ladder.

This survey will provide the Department with data needed to encourage the region’s contact centre growth, in and beyond existing industries and to open the conversation and share within the industry efforts that work for one though are a challenge for others. * predominantly permanent and equally full and part time employees

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BUSINESS NEWS

Mariners Centre of Excellence move for North Construction HAVING BUILT IT, North Construction and Building Pty Ltd have relocated their headquarters from Gosford into the new Mariners Centre of Excellence in Tuggerah.

North have leased 1,000 sqm of prime space in the top floor of the $20 million building which was opened by the Prime Minister last month.

The fit-out of their new offices showcases the high standard of workmanship that this Central Coast builder is capable of and creates a vibrant work space for their 80 staff.

Taking advantage of natural light and views across Tuggerah the provides three formal meeting spaces, boardroom, six informal meeting pods where North’s staff can meet with sub-contractors, 30 work stations and a large staff meeting and recreation area with balcony.

Commenting on their move Business Development Manager, Josh Sheather said, “This is a major commercial building for the Central Coast. It has been built to a very high standard and we are proud to have been the builder.”

Take up of space in the 6 level building has been strong. Leasing and sales agent Ty Blanch from LJ Hooker Commercial Central Coast said most of the space has now been leased or sold.

Dr Brad Cranney has purchased the ground floor and Level 1 space. It will accommodate a medical centre, radiologist, pharmacy, pathologist and café and ancillary medical and specialist services.

Significantly, international serviced office provider, Regus has purchased two-thirds

North Managing Director Tim Cornish with Business Development ManagerJosh Sheather on Level 2, about 1,200 sqm.

Regus operates a global network of business centres along with locations in all Australian capitals plus Canberra, Gold Coast and Wollongong.

Federal Member for Dobell, Karen McNamara MP will locate her Electorate Office on Level 2.

The Central Coast Mariners head office will be located on Level 3 with 240 sqm.

Amphibian Aircraft International which has a proposal into Wyong Council to build amphibious aircraft at Warnervale Airport has purchased 300 sqm of space on Level 3.

LJ Hooker Commercial Central Coast has leased 125 sqm on Level 4 along with

Mariners Centre of Excellence Tullipan Homes’ 240 sqm and two law firms and two marketing businesses.

The top floor, Level 5 has North’s with around 1,000 sqm plus insurance company AON and a law firm.

“Enquiry has been quite strong for this building,” said Mr Blanch. “We have a number of interested parties who are interested but have been holding off until the building was completed.”

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M A N U FAC T U R I N G N E W S

Mars’ announces commitment to Business Purpose – Better Food Today, A Better World Tomorrow MARS FOOD® AUSTRALIA took the rare step of halting operations at its Berkeley Vale factory on in February for an unprecedented event for employees (known as Associates) and partners.

The occasion for 400 people was held inside the factory to mark several important announcements in respect to Mars commitment to its Business Purpose: Better Food Today. A Better World Tomorrow, which aims to create a healthier and happier Australia through food.

Following a presentation by General Manager, Hamish Thomson, and the Food Management Team, all Associates and guests at the Wyong facility were invited to down tools at the same time to share lunch together in a move designed to highlight the important social role food plays in bringing people together. As part of its mission to create a better Australia through food, Mars Food made several key statements aligned to its four pillars underpinning its Purpose: The Social Role of Food: Make Dinnertime Matter: Mars Food Australia has launched a new brand campaign for MasterFoods encouraging Australians to Make Dinnertime Matter. With the demands of modern life and workloads continuing to increase, the campaign acts as a timely reminder that dinner is more than just a meal, it’s a chance to connect with the people who matter most in all our lives. Research shows that many social benefits are linked to regular shared meals, including academic performance, resilience, stress management, and more nutritious food choices, so MasterFoods aims to create

Mars Food Australia, Leadership Team: Bottom row – Left to right Tim Hicks – Marketing Director, Natalie Jones – P&O Director (HR equivalent), Meghan Senior – Corporate Affairs Director, Jason Phyland – Supply Director, Top row – Left to right Matthew Shortal – Sales Director, Peter Crane – R&D Director, Andrew Poll – Finance Director, Hamish Thomson – General Manager a movement to inspire Australians to enjoy the benefits that shared dinnertimes can bring. The team toured the country asking people about their ideal dinnertimes. What was revealed surprised everyone.

Nutrition A continuous journey: Over the past 10 years, Mars Food Australia has removed 282 tonnes of salt and 960 tonnes of sugar from its product portfolio. Recipes have been simplified, and the business is close to completing its process of removing all artificial colours and flavours. In 2013, it also reformulated its MasterFoods recipe bases to

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include more fresh vegetables in the cooking method and each year, 1 million kilos of fresh vegetables have been added to the Australian diet through this reformulation.

Community Mars Apprenticeship Program: Further demonstrating its commitment to the Central Coast community, Mars Food Australia has launched its first ever Mars Apprenticeship Program. The initiative provides an opportunity for young people from the surrounding area to join the business to learn from Associates and gain invaluable skills from which to build their career.

Sustainability Sustainable manufacturing and responsible food sourcing: It described plans to develop a science-based strategy for tomato sourcing as well as plans with its Australian supplier to source 100% cagefree eggs for all of its human food products.

Mr Thomson, said, “With Mars Food Australia’s brands used in 90 per cent of Australian homes we have a responsibility to make Australia happier and healthier through food. We have permission, a culture and an expectation to care and that is what we’re aiming for as a business.”

“I’m proud of the incredible journey we have been on to bring to life our Food Purpose: Better Food Today. A Better World Tomorrow. And we’re committed to constant review so that we can always build on our contribution to sustainability, nutrition, community and the social role of food.

M A N U FAC T U R I N G N E W S

RR Taylor wins Sri Lanka order for medical waste treatment units SOMERSBY ENGINEERING AND manufacturing company RR Taylor Pty Ltd has won a contract to supply and operate twenty MetaMizer 240SSS medical waste processing facilities across all of Sri Lanka’s hospitals.

Developed by Taylors and manufactured under a joint venture with Sydney metal fabricating company, D J Batchen Pty Ltd, the MetaMizer is an innovative solution for handling hospital waste. Under the joint venture Batchen undertakes the fabrication and RR Taylor the machining and assembly.

The unit sterilises and shreds medical waste converting it into a granulated product reducing it in volume by over five times and can then be placed into a traditional waste stream. The processing cycle takes around 15 minutes and reduces the input volume by up to 90% Taylor’s contract with the Sri Lankan Government is worth US$16.2 million over two years and includes construction of facilities to house and install the MetaMizer units and then operate and maintain them for a further four years with a local partner.

Managing Director Warren Kaye said that the Sri Lankan contract is a major breakthrough for Taylors who were competing against companies as far afield as Belgium and South Korea.

R R Taylor is a long established manufacturing engineering company established

MetaMizer 240SSS Medical waste processing unit in 1930 and incorporated in 1958. They relocated from Sydney in 2003 and currently employ sixteen people.

They specialise in providing manufacturing solutions, including the machining of precision components through to assembly.

“We have the capacity to support manufacturers on the Central Coast with machining and manufacturing solutions” Mr Kaye said.

The company also manufactures specialist medical equipment including chiropractic tables and hospital operating theatre tables.

Mr Kaye said that he is currently negotiating with a Malaysian company to continue local manufacture of the operating theatre tables.

Warren Kaye, Managing Director,k R R Taylor Pty Ltd Mr Kaye has recently returned from Dubai where Taylors exhibited at the 2015 Arab Health Medical Exhibition where he fielded many enquiries for their products.

CENTRAL COAST BUSINESS REVIEW APRIL 2016

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BUSINESS BRIEFS

Robson Partners continues acquisition strategy Tony Myers joins Raine & Horne Commercial

Brett Hunter and Tony Myers Robson Partners Directors Troy Marchant and David Evers with John Hypatidis (centre) ON THE BACK of its successful acquisition of Broadview Accounting in September last year, Robson Partners has announced the acquisition of Erina accounting firm, Hypertax.

Robson Partners Director, Troy Marchant said Hypertax had a excellent brand and an energised, professional team that were a natural fit to Robson’s pro-advice model.

“We saw an opportunity to partner with a proven business which has runs on the

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board and good operator in John Hypatidis,” said Mr Marchant.

Mr Hypatidis will continue working closely with his clients, while at the same time, provide innovative new services on an “as need” basis for them.

Mr Marchant said, “Robson Partners continues to lead the market in merger and acquisition opportunities with operational and financial capacity to form new relationships. “One of the benefits of our CountPLUS model is the access to capital to make strategic acquisitions of good quality assets where we see accretive value from the outset. We have made ourselves known on the Coast as the “go to” firm for practioners who are seeking to unlock some of the equity in their business, retire, or reduce overhead costs.”

Mr Marchant said the most valuable component of the sale of the Erina firm were the staff members, who have excellent connections and relationships with their clients.

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Well known Gosford real estate agents, Tony and Julie Myers have sold the property management division of Oliver Myers Real Estate to Raine&Horne Commercial Erina and have joined their growing Commercial team, Mr Myers has over forty years residential and commercial real estate experience across the Central Coast, Hunter and in Sydney.

He will work with Raine&Horne Commercial as Senior Sales & Leasing Executive, focusing on core areas of Gosford, Somersby and Wyong / Warnervale offering quality marketing, negotiation and exposure to existing and new clients.

Brett Hunter, Director of Raine&Horne Commercial said “It is great to see the joining of two coastal commercial operations for the betterment of our clients. We are excited about the prospect of learning from Tony and his wealth of experience” said Mr Hunter.

The growth of Raine&Horne Commercial was recently acknowledged at the annual SUMMIT awards in Sydney where the Erina Commercial office was acknowledged as the Fastest Growing office (for $ sold and number deals) in NSW.

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BUSINESS BRIEFS

“Our team have worked hard throughout the last 12 months to negotiate quality deals with high yields and solid advice for investors across the coast” said Mr Hunter “ It is a credit to the brand, our team and our database for us to grow in such a manner over the last 12 months” added Mr Hunter.

Tony Myers is now based at the Raine&Horne Commercial office at 206 The Entrance Road Erina, and can be contacted on tony@rhcoastal.com or 0418 433 377.

He will also continue his association with various builders marketing investment house and land packages on the Coast and Lake Macquarie and the Lower Hunter regions.

Mercedes-Benz Gosford staff recognised

Anthony Wallace, Tim Bore and Laurence Preston

NBN Television appoints Central Coast Manager

Megan Scheid NBN Television has announced that appointment of Megan Scheid as Central Coast Sales and Marketing Manager. Most recently Ms Scheid held the franchise for the Endota Spa at Kooindah Waters for five years and prior to that worked in media on the Central Coast. Ms Scheid takes over from Don Glover who has been Central Coast Sales Manager for nine years and is retiring.

Two front line Mercedes staff were recognized for their efforts at the recent Mercedes-Benz 2015 National Dealer of the Year Awards night.

At the black tie event held at the Crown Palladium Ballroom in Melbourne in February 2016 Laurence Preston received the2015 Mercedes-Benz Service Manager of the YearRural Passenger cars, and Anthony Wallace collected the 2015 Mercedes-Benz Service Advisor of the Year-Rural Passenger cars.

In addition, both were nominated finalists and recognized as runners-up for the same awards for Mercedes-Benz Vans.

They will reap the rewards, with other National Mercedes winners, in late April with an adventure trip staying at the El Questro Homestead in W.A with over 1

million acres on this property to explore.

Mercedes-Benz Gosford Dealer Principal Tim Bore, said, “it takes an entire Mercedes family to raise awards like this. So congratulations to the entire workshop and service team on such an impressive year and effort in 2015.

ses Wanted Quality Businesmobile home villages, parks, Including caravan ustries. turing & service ind fac nu ma s, motel e. nc rie Over 37 years expe

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CENTRAL COAST BUSINESS REVIEW APRIL 2016

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BUSINESS NEWS

CEO appointed for The Entertainment Grounds Evocca College collapse puts focus on TAFE

Daniel Lacey in the recently renovated Riverdale Bar at The Entertainment Grounds DANIEL LACEY HAS been appointed CEO of The Entertainment Grounds.

Mr Lacey joined the Gosford Race Club two years ago, prior to its transformation into The Entertainment Grounds, and project managed the $4.8 million redevelopment of the spectator precinct with builders Pluim Constructions.

Prior to joining Gosford Race Club Mr Lacey was for six years Project Feasibility Manager of the Australian Turf Club’s Royal Randwick Masterplan which included the $174 million grandstand project.

In recent months he has overseen a $200,000 renovations to the Riverdale Bar

by Pluim Constructions.

Among the many major events planned for 2016 Mr Lacey said a new entertainment initiative would be monthly shows in the Panorama Lounge with the first in May featuring Diesel followed by Adam Harvey the following month.

Mr Lacey succeeds James Heddo who was appointed Executive General Manager of the Australian Turf Club after being with the Gosford Race Club for seven years.

Evocca College, one of Australia’s largest training providers, announced in late March that it will close seventeen campuses across Australia, including the Gosford Campus.

This will result in local job losses, as well as leaving a number of Central Coat students in limbo.

The students at Gosford have the added burden of being in a region where youth unemployment has jumped to 16.5%.

Statewide, youth unemployment is at a staggering 12.2% Labor extended the VET FEE-HELP loan scheme to private providers when last in government. The scheme has since ballooned in cost and is mired in controversy over rorting of taxpayer funds and poor training.

McNamara welcomes competition changes Federal Member for Dobell, Mrs Karen McNamara MP, has welcomed the proposed changes to Section 46 of the Competition and Consumer Act which will help protect small businesses against the misuse of market power by dominant players.

These changes come in the form of an ‘effects test’, which was a key recommendation of the major Harper Review of Commonwealth competition law.

The ‘effects test’ will endeavour to prohibit big businesses with substantial market power from behaving in such a way that has the effect or likely effect of reducing competition without any economic justification.

“I have been, and always will, be a strong supporter of small business,” Mrs McNamara said. “Small business is the engine room of our economy and keeps our country running.”

These changes are an example of the Turnbull Government taking long overdue reforms out of the too-hard basket and getting on with the job. This decision has put the Government on the side of competition and consumers, and ultimately the economy, and should not be seen as the Government picking sides.

CENTRAL COAST BUSINESS REVIEW APRIL 2016

“It is essential that the new provisions enhance rather than inhibit competition,” Mrs McNamara said.

“It is important that as a Government we remove regulatory barriers to competition across a variety of sectors.”

The Council of Small Business Australia (COSBOA) congratulated the Government on the move.

COSBOA said it is aware that the Business Council Member for Dobell Mrs Karen McNamara MP with small shop keeper of Australia and big busi“The Government has recognised the nesses such as Wesfarmers have been importance of competition and due placing undue pressure, indeed threatprocess and this result demonstrates that ening, the Government on this issue. fact. The support of the Small Business However, the Government has stood firm.

Minister, Hon. Kelly O'Dwyer has been CEO of COSBOA, Mr Peter Strong says: invaluable.”

“It should be noted that COSBOA conPeter Strong acknowledged the supsiders that the measures are not strong port of the Master Grocers Association enough, but due process has been foland many other organisations who were lowed and we will work within the system part of a Coalition seeking better compeand assess the impacts of the changes tition needed to achieve this outcome. over the next few years.”

PROPERT Y NEWS

Sanitarium buys former brewery site Gosford Council gets $13 million for Kibbleplex

The former Bluetongue Brewery complex at Warnervale purchased by Sanitarium Health Foods SANITARIUM HEALTH FOODS have purchased the former Bluetongue Brewery building in Burnet Road, Warnervale near the Sparkes Road intersection and adjacent to the Woolworths Distribution Centre.

The brewery complex was constructed in 2010 and comprised a state-of-the-art brewery.

ERINA SHOWROOM / OFFICES – FOR LEASE MODERN RETAIL / COMMERCIAL CENTRE – CENTRAL COAST HIGHWAY • 137 sqm Quality fully renovated ground floor space. New carpet, paint and kitchen amenities. $38,000 P/A + GST • 81 sqm Quality ground floor space – Expansive glass frontage only $25,000 P/A + GST • 121sqm First floor space new carpet & paint $31,000.00 P/A + GST.

The brewery was decommissioned in 2014 and all brewery plant removed.

Zoned IN1 General the property comprises a 19,000 sqm, 73 metre clear span warehouse building with rapid roller door access, two levels of modern air-conditioned offices and function centre and large capacity utility services including water, power and gas supply on a 10.32 ha site.

The site offers capacity for future expansion.

It is understood the price paid was around $15 million.

The purchase further cements Sanitarium’s positon as the major food processor and employer on the Central Coast.

Gosford Council has revealed that the Lederer Property Group paid $13 million for the former shopping centre Marketown now known as Kibbleplex.

Council had been negotiating with Lederer since late last year on a confidential basis.

Council acquired the site in 2011 for $11 million of which $7 million was provided via a Federal Government grant of $7 million.

Council obtained valuations from property valuers who valued at between $11.5 million and $13 million. The valuations noted the limited practical uses for the building and looming market risks among others.

Council obtained an independent legal opinion from Maddocks Lawyers who confirmed that among other things the tendering requirements of the Local Government Act did not apply to the possible sale.

As reported in CCBR in March the Lederer Property Group is proceeding with a Masterplan for the site, Kibble Park and the Imperial Centre (which they own and have just completed a $20 million refurbishment) for a $650 million residential and commercial transport oriented development over 15 to 20 years.

The Masterplan will be lodged prior to 1 April 2016.

GOSFORD CBD OFFICE Take your pick: All well located buildings lift access, ducted a/c, some water views & onsite parking available: • 40 Mann Street, 110 sqm to 408 sqm from $255 per square metre nett + GST • 15 Watt Street, 163 sqm to 231 sqm inter connectable - $245 per square metre nett + GST • 125 Erina Street, 127.5 sqm partitioned medical space - $282.35 nett + GST (ground floor-lift n/a)

CITIGATE BUSINESS CENTRE NORTH GOSFORD – FOR LEASE Top exposure to Pacific Highway, ground floor showroom space of 109sqm to 218 sqm.

Be amongst other existing quality businesses.

Competitive rental structure and 50% rent reduction off first years rental for quality tenant (minimum 3 to 5 years initial term).

Citicoast Realty 87 Mann Street, Gosford NSW 2250 Tel: 02 4324 1322 Email: Citicoast@citicoastrealty.com.au

SPECIALIST MEDICAL & PROFESSIONAL SUITES

TUGGERAH 154 Pacific Highway

Ideally located on the Pacific Highway within the established Tuggerah Straight Commercial Centre, these Specialist Medical & Professional Suites are perfectly situated.

Neighbours include Healthscope Medical Centre, PRP Radiology, Pathology, Sports & Spinal Physiotherapy, Chiropractor, Dentist, Psycologists & more.

With a variety of suites available and plenty of parking, opportunities include both ground floor and level 1 suites.

Tuggerah Medical & Professional Rooms range from 13m2 to 24m2 and start from as little as $1,250 per month +GST. Level 1 accessed via lift or stairs hosts suites from 59m2 with the East Wing Professional Suites ranging from 73m2 to 103m2 there is a size to suit a variety of Professionals including Medical, Financial, Legal etc...

Other tenants include BCF, Super Cheap Auto and Romi’s Café and make this an ideal location with plenty of parking.

Features include • Flexible lease terms • Very Competitive rentals • Excellent parking • Air-conditioning • Carpets, kitchenette • Balcony access for most suites

For further details please contact Julie Davies on 4355 5111 CENTRAL COAST BUSINESS REVIEW APRIL 2016

15

16

PROPERT Y

COMMERCIAL AND INDUSTRIAL PROPERTY FOR SALE/LEASE

WARNERVALE IND UNITS FOR SALE/LEASE TUGGERAH - PREMIUM WAREHOUSE UNITS

FACTORY

&

12 brand new, premium quality factory/warehouse units. Sizes (approx.) 128m2, 144m2, 160m2 & 198m2 plus the complex has been designed for extra parking & a 40% (approx.) site coverage allowing for DA approved mezzanine floors in each bay.

FOR SALE FROM $275,000 + GST

MARINERS NEW HQ @ TUGGERAH - RAISE YOUR PROFILE! Come & be a part of this amazing development centrally located at Tuggerah, close to railway station & M1 Motorway. We have Commercial areas for sale & lease (office spaces) from 15m2 to 8000m2 (approx.).

Call for a price list.

MOVE STRAIGHT IN ! ERINA COMMERCIAL

104m2 ground floor commercial suite fully fitted out with reception, offices, glass meeting / board room and internal amenities. 2 car spaces very conveniently located at your front door.

FOR SALE $385,000 + GST

GOSFORD - GROUND FLOOR PREMIER POSITION

Amongst the hustle & bustle of Gosford CBD is this beautifully appointed 138m2 suite on the ground floor with exposure to Mann Street.

Freshly painted, new carpet, 3 security car parking spaces.

FOR SALE $470,000 + GST LEASE $35,000 pa net + GST

SOMERSBY INDUSTRIAL LAND

This is one of the smaller IN1 lots of land in Somersby which are very hard to come by. Approx. 2500m2 with power, water and natural gas to the site. Partially cleared and no council contributions owing.

FOR SALE $385,000 + GST

WEST GOSFORD - SUPERIOR LOCATION, EXPOSURE & PARKING!

Quality warehouse & office with mezzanine storage & a huge hardstand/parking area! Approx. 226m2 of high quality office space with a/c PLUS lunchroom & 430m2 of factory/warehouse with great clearance & 2 large, (high & wide) roller doors.

FOR SALE $1.7m + GST FOR LEASE $95,000 pa + GST

3 units available areas from 195m2 brand new concrete construction secure complex, 1 minute from Sydney Newcastle M1 Sparks Rd Interchange.

Purchase from $390,000 + GST. Lease from $29,250 net + GST.

HIGH CLEARANCE WORKSHOP/WAREHOUSE AT SOMERSBY

Brand new concrete construction, total area 964M2 includes 127M2 air conditioned office and 90M2 mezzanine storage area, high and wide roller shutter with awning, 3 minutes from M1 Motorway, Zoned IN1 General Industrial.

TUGGERAH BUSINESS PARK OFFICE SUITE FOR SALE/LEASE

Stylish office suite. Total area 244m2 with 166m2 ground floor and 78m2 mezzanine area. Fully fitted out, high ceilings, plenty of natural light and external patio area. Small professional complex with allocated on site parking.

MT PENANG PARKLANDS OFFICE SPACE FOR LEASE

Ground floor net lettable area 217m2 approximately including 37m2 of external undercover verandah area, open plan with 12 quality workstations, meeting room and boardroom. Carpeted and ducted air conditioning. Great natural light, fantastic outlook and peaceful setting.

HIGH PROFILE OFFICE IN MANN STREET FOR LEASE

Approximate area 380m2, NBN read, lift access, carpeted, air conditioned, disabled toilet and secure car parking at rear of building. Offers considered.

Current neighbouring tenants include NIB, Ability Options, Solicitors and Retire Invest.

ERINA RETAIL OFFICE SPACE

FOR LEASE

314m2 ground floor and first floor space, glass shopfront, carpeted and air conditioned, fantastic exposure to Barralong Rd, Erina with 3 on site allocated parking spaces.

WIN

TOUKLEY’S BEST BUY - JUST REDUCED

2016 TOYOTA YARIS

MAJOR PRIZE

GO INTO THE DRAW

FOR A GIANT MOUNTAIN BIKE

Professional office divided into reception, 2 treatment rooms with wash basins & small kitchenette. Excellent main road exposure, council car park at rear as well as street parking.

FOR SALE $149,000 + GST FOR LEASE $15,000 gross + GST

• Outdoor & Building Signs • A-Frames, Banners & Flags • Vehicle Graphics & Magnets • Indoor & Exhibition Signs • Full Colour Digital Printing • Lasercut Letters • Boat & Trailer Graphics

TUGGERAH - BRAND NEW RELEASE! QUALITY BUSINESS UNITS

• Lightboxes & LED Signs T enter simply To i l spend d $750 in store to go into the draw to win a Giant Mountain Bike with a Major Prize of a 2016 Toyota Yaris!*

• Retail Shop Fronts • Expo Signs & Displays • Business Cards & Flyers • Safety & Real Estate Signs

COMP CLOSES 30/4/16 NSW PERMIT: LTPS/16/00370

SA PERMIT: T16/82

VISIT OUR WEBSITE FOR ADDITIONAL PROPERTIES and MORE INFORMATION – www.ljhooker.com.au All prices shown GST incl. unless otherwise indicated

LJ HOOKER COMMERCIAL – CENTRAL COAST ljhcommercial.com.au

CENTRAL COAST BUSINESS REVIEW APRIL 2016

SALE

Last available site of this size in this area of West Gosford. Surrounded by industrial and commercial areas. Multiple options for construction and ability to separate areas.

Recent roadworks completed in November 2015 have significantly improved access and overall traffic flow

FOUNTAINDALE LEASE

Available now is this 450sqm high clearance industrial factory unit at Fountaindale. Well positioned with easy access is a bonus to the complex of twelve (12) units, enjoying ample parking for large & small vehicles alike.

ETTALONG BEACH

LEASE

Prime restaurant/café space in well-known premier dining destination. Dual frontage opening onto alfresco street front and rear courtyard. Premises upgrade currently in progress for new tenant.

Includes restaurant-ready fit out and technology.

Suite 5, 206 The Entrance Road, Erina www.rhc.com.au/erina

Great opportunity for owner occupier to secure 267m2 premises & still generate an income stream. Vacant offices a/c & in central position with good exposure!

FOR SALE or lease for $55,000 pa net + GST

21/1 Reliance Dr, Tuggerah • Ph: 4353 7700

WEST GOSFORD

4365 0645

Only 12 left in this complex of 16. 120m2 high clearance factories.150mm thick high wall concrete panel construction. 5 metre high automated commercial roller door. NBN & 3 phase power connected. Fully fenced & electric gated security.

FOR SALE $259,000 + GST

Exclusive office & workspace units close to the M1 Mwy & Railway Station. Sizes from approx. 139m2 to 172m2 with plenty of parking & folding doors for stock & vehicle access. Amenities on each level, quality finishes & a/c, louvre windows & balconies.

FOR SALE FROM $417,500 + GST LEASE FROM $32,900 + GST

Opportunity to acquire fully licensed café and catering rights. Strong team already in place with great leadership. Benefits include liquor licence, seating for 120+ people, functional menus, and fantastic fit out.

Prices shown with * are inclusive of GST.

WEST GOSFORD - SELLING FAST!!! UNDER CONSTRUCTION

VACANT OFFICE SPACE AND LEASED ROOMS

BUSINESS ONLY FOR SALE:

CALL FOR A

tuggerah.signarama.com.au

FREE QUOTE

Unit 16/10 Pioneer Ave, Tuggerah Business Park

Get results!

ADVERTISE YOUR PROPERTY IN CCBR For further information phone 4367 0733 or email info@ccbusinessreview.com.au

PROPERT Y NEWS

Mariners Centre of Excellence sales Refurb for East Gosford residential/ retail property

Bookkeeper Alexander Tomic has purchased Suite 41.60 in the Mariners Centre of Excellence which was completed last month.

Price paid for the 14.6 sqm suite was $88,500 plus GST. At the same time another investor has

Lusteds buy Howarth Street, Wyong property Well known Wyong building family Matthew and Bronwyn Lusted have bought a property at 59 Howarth Street, Wyong paying $620,000 plus GST. The property comprises a 460 sqm building with 175 sqm mezzanine on a 987 sqm lot adjacent to Wyong Railway Station.

Zoned R3 the premises had previously been operated as a retail hardware store.

Ty Blanch from L J Hooker Commercial Central Coast negotiated the sale in conjunction with Chris Manuelle from Coast Wide First National Real Estate.

Wyoming freehold investment A local investor has paid $250,000 plus GST for Shop 6 / 133 Maidens Brush Road, Wyoming, a commercial freehold property.

The property is leased to a Takeaway food operator who entered into a new 5 plus 5 year lease at approximately $26,000 per annum (GST not applicable) the tenanat has been in operation for 10 years.

Tuggerah vacant lot sold An investor has paid $300,000 plus GST for Lot 69 Mooramba Road, Tuggearh, a vacant 4,000 sqm lot zoned IN2 Ty Blanch from L J Hooker Commercial Central Coast negotiated the sale.

North Gosford engineering factory fetches $1,025,000 An investor who plans to part occupy an engineering factory at 5-7 Tatura Avenue,

paid $505,000 plus GST for Suite 304 of 148.84 sqm.

Tullipan Homes Pty. Ltd have paid $807,480 plus GST for Suites 409 and 410 with a total of 241.06 sqm Ty Blanch from L J Hooker Commercial Central Coast negotiated the sale.

North Gosford has paid $1,025,000 (GST) not applicable) for the property.

An older style concrete panel/metal clad factory building of 961 sqm with three gantry cranes (1, 3 and 5 tonne) are on the 2,835 sqm property. Rob Wilcox from Chapman & Frazer Real Estate Gosford negotiated the sale.

Investor buys in Tuggerah Business Park An investor has paid $650,000 plus GST for Unit 10, 10 Pioneer Avenue, Tuggerah.

The unit, of 576 sqm is vacant. It is part of a 17-unit complex in Tuggerah Business Park.

Ben Purdue from Raine & Horne Commercial negotiated the sale

An investor has paid $950,000 (GST Exempt) for 35a York Street, East Gosford.

The property, on a 790 sqm site comprises 4 residential units plus 3 retail shops.

The new owner intends to refurbish the shops lease them at a later date.

The sale was negotiated by Brett Hunter and Andrew Dunn from Raine & Horne Commercial.

Investor buys multi tenanted strata complex at Tumbi Umbi An investor has acquired 4 of 5 strata units ranging in size from 71sqm to 279 sqm in a 6-unit complex at 2 Bon Mace Close, Tumbi Umbi paying $840,000 (GST not applicable) and then acquired the 5th unit of 100 sqm for $115,000 (GST not applicable).

The acquisition was via a liquidation sale through Ferrier Hodgson.

The complex is on a 2,023 sqm site.

Ben Purdue from Raine & Horne Commercial negotiated the sale.

Somersby industrial unit sells Unit 5, a 100 sqm industrial unit at 58 Pile Road, Somersby has sold for $185,000 plus GST to an investor. The unit which is vacant includes office space with extensive high grade fit-out and one car park.

Andrew Dunn from Raine & Horne Commercial negotiated the sale

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CENTRAL COAST BUSINESS REVIEW APRIL 2016

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BUSINESS TIPS

ADVICE Employers caught in the middle with nowhere to go MPLOYERS

ur arge can anage rce, r trade reduce s comp

By Warwick Ryan, Partner, SWAAB Attorneys

ck Ryan ONE OF THE real challenges to navigate com.au as an employer is the fact that not only is

employment related legislation never-end-

s ing, but differing pieces of legislation push um Building, you in opposing directions. As a result it RINA NSW 2250

can be very difficult to strike a balance. A classic example of that was a recent case involving Toll Holdings. All employers know that they have an obligation to prevent racial abuse in the workplace.

Well, the Manager at Toll received a report that an employee had made a string of racial comments and slurs against a fellow Afghani worker. Apparently, it was not a one-off incident. Recognising the need to respond, they investigated the matter – speaking to the Afghani worker who complained about the abuse, to the alleged perpetrator and to witnesses. After completing the investigation, they found the incident (essentially) did occur as alleged.

If they had not moved in this fashion, Toll would have been vulnerable to a claim against it for racial or religious discrimination or racial harassment. Such a claim could have involved a substantial award of damages to the Afghani worker from Toll.

By moving as they did, they prevented this outcome and gave protection to the Afghani worker.

Yet, the perpetrator lodged an unfair dismissal claim and the Fair Work Commission found in his favour. Treating this terminated worker in this way – it found that the worker could not be held accountable for his actions in abusing a fellow worker.

The reason? Apparently, it was Toll's fault because – even though they had a policy in place - they should have warned the perpetrator that he cannot racially or otherwise abuse a fellow worker.

Toll were squeezed between two competing pieces of legislation: the unfair dismissal provisions of the Fair Work Act and the Racial Discrimination Act. Once again the Fair Work Commission rewarded the bad behaviour of the employee – treating him as unable to make an adult moral decision.

So – what is the learning for employers from this case? Be careful in assuming that you can treat your employees as adults who are culpable for their actions.

It is clear that the Fair Work Commission expects employers to educate their staff in the most basic moral decisions and common courtesies before their staff can be held accountable.

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FOR MORE INFORMATION PHONE 4367 0733 EMAIL edgaradams@ccbusinessreview.com.au CENTRAL COAST BUSINESS REVIEW APRIL 2016

BUSINESS TIPS

Five clever questions to ask your accountant

By Troy Marchant, Director, Robson Partners Chartered Accountants WHEN I RUN our Business Coaching workshops, I love asking the business owners in the room how often they call their accountant when they have a question. Some say they speak with their accountant several times a week while for others, perhaps once a month. But there are always some who admit to never calling their accountant, usually because they are worried they might get a bill for the call.

And so, my first recommendation of a question you should ask your accountant is: 1. Can you provide me with a fixed fee for the work you’ll do for us? Please bundle in ad hoc access to you for short phone calls and emails as part of that fee.

Almost always, the clients who speak to their accountant several times a week have that arrangement in place. When the barrier of ‘what might this cost’ is taken away, you are much more likely to call and talk with your accountant before you make an important decision. I also observe that, in many cases, clients who regularly communicate with their accountants tend to be the more successful business owners in the room.

2. What is my break-even point?

This refers to the level of sales required to fully cover general business overhead and it is the point where you start to move into profit.

Depending on your business, you might break this down to a monthly, weekly or daily breakeven point. Your accountant will be able to analyse your cost structure and let you know the level of sales required to break even. This is where cloud based accounting programs like XERO can be very powerful, providing up to the minute information.

3. What drives my revenue?

If you ever think (or if your accountant ever suggests to you) that you need to increase sales, do you know where to start? What are the key drivers of your revenue? In many businesses, revenue can be broken down to this formula: Number of Customers x Transaction Frequency x Average Transaction Value = Revenue It may or may not be this same formula for your particular business. Ask your accountant where you should focus. From a business coaching point of view, some great strategies to begin with are: • What am I doing to retain my customers?

• What should I be doing to generate new leads or enquiries?

• Am I the best at converting leads to new customers (or new jobs)?

• Do all my customers know all the products I sell?

• Am I pricing strategy correctly?

• Looking at ways to sell more on every transaction

There are a variety of strategies to look at, but just quickly on the matter of pricing ask your accountant this: At my level of gross profit margin, if I increase my prices by 10%, how many of my customers could I afford to lose before I am any worse off? The number might surprise you — and help you with your pricing strategy.

4. Are my financial results good, bad or indifferent?

If you’re lucky, your accountant will take you through an analysis of your financial performance each year, pointing out key ratios such as gross profit percentage, days locked up in receivables and inventory, and others. Equally as importantly, ask about benchmark data. Good accountants should be comparing your results to your industry metrics using 3rd party verified data who collate information about your industry for comparison.

5. What are your most successful clients doing?

Most accountants work with many business clients. So why not ask your accountant what their observations are on what their top 10 clients are doing to make them successful? It is a great question to ask, and if you pick up just one idea you could implement to improve results, it is worthwhile.

In all of the surveys, the accountant is cited as the most trusted business advisor.

Make sure you are making the most of the relationship with your accountant. I encourage my team to ask great questions to our clients. Likewise, I am encouraging business owners to do the same.

How many $$ did you save me last year?

By Nathan Corrigan, Account Manager, Insurance House Central Coast I HAVE, ON several occasions stood with a client in front of a smouldering pile of debris that used to be their business. I don’t recall any of them asking me how much money we saved them on insurance premiums last year. Insurance is always about protection, not premiums when it matters.

Recently Vero Insurance conducted a survey of 1,500 Australian small business owners about their major concerns. Being unable to trade concerned 32% of respondents, but

80% of these had no business interruption insurance. Equipment failure concerned 31%, but again 80% had no machinery breakdown insurance. Cyberattack concerned 25% and almost none of these had the risk insured. On a larger scale, the 2015 global risk survey by international broker Marsh found that cyber security risk is the highest ranked risk faced by business.

Insurance is no replacement for robust risk mitigation such as IT security and backup, equipment maintenance or fire protection, but it creates a second line of defence to protect the business. The operational and insurance aspects of risk management go hand in hand. This second line protection for business interruption and machinery breakdown is readily available, and would be considered long-standing and traditional insurance products. So if these well known risks remain uninsured by up to 80% for business owners, how long

will it take to sound the alarm on relatively new cyber risks?

Increasing interconnectivity, globalisation and commercialisation of cyber crime has resulted in an explosion in both frequency and severity of cyber attacks. The right insurance can cover costs incurred through event response and management services, loss of revenue from an attack on your business or an external supplier, and sums payable for fines, penalties and defence costs.

Factory fire, equipment fire or digital fire, they can all happen despite the best risk mitigation. Are you confident that your insurance and risk program is about protection? How much insurance premium was it that you saved last year? Probably not enough to reassemble that pile of debris.

Talk to Nathan Corrigan or Darren Hutton at Insurance House Central Coast on 1300 305 834 and make sure you are part of the protected 20%.

CENTRAL COAST BUSINESS REVIEW APRIL 2016

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RESIDENTIAL PRESTIGE PROPERT Y REPORT

Opulent resort living at Wamberal

The property: 12 Ocean View Drive, Wamberal. A 4-bedroom, 4-bathroom absolute lake front home on a 1,695 sqm double block. With pool, tennis court and 4-car garage.

The price: $4,000,000 The buyer: A Central Coast family The sale: The property sold within the first week of advertising following an exclusive twilight property launch. Sold prior to auction.

The agent: Tim Andrews from L J Hooker Terrigal who said it was an impressive property and the family who bought it snapped it up within the first week of marketing.

Patonga holiday house for Sydney family

The property: 56 Patonga Street, Patonga.

This 4-bedroom cottage is set on a 443 sqm waterfront lot along Patonga Creek. It has been fully rebuilt and renovated and features large rooms, quality open plan kitchen, lounge and dining room which opens to a large deck overlooking the water The price: $1,415,000 The buyer: A family from Sydney’s Northern Suburbs for use as a holiday house.

The sale: The property had been on the market since October 2015.

The agent: Stuart Gan from PRD Nationwide Ettalong Beach

Returning expat buys Terrigal rural home The property: 5 Banbury Close, Terrigal.

This 5-bedrrom, 5-bathroom home with tennis court, inground pool and separate pool house is nestled upon 1.1 hectares just off Terrigal Drive and surrounded by formal gardens, The price: $2,950,000 The buyer: An expat returning to Australia from Malaysia.

The sale: The property was sold prior to auction using the agent’s database in the second week of listing.

The agent: Tim Andrews from L J Hooker Terrigal who said the buyer flew from Malaysia and negotiated the purchase. It was due to go under the hammer and had attracted a lot of attention from local and Sydney buyers.

From Forresters Beach in the north to Patonga in the south we have been writing and rewriting the record books since 1998!

• Over 20 years personal experience in prestige property sales!

• Waterfront and beachfront properties • Development sites CENTRAL COAST BUSINESS REVIEW APRIL 2016

Contact: Stuart Gan PRDnationwide Ettalong Beach www.prdettalong.com Office: 02 4344 5580 Mobile: 0407 454 974

EVENTS

CCBR March Cocktail Evening GOSFORD CITY MAYOR, Lawrie McKinna attended CCBR’s March Cocktail Evening for subscribers and advertisers and updated guests on the amalgamation of Gosford and Wyong Councils as well as an update on investor activity in Gosford.

Catering for the event was by D’Vine Catering.

Bill Low (Central Coast Grammar School) with Gosford Mayor Lawrie McKinna

Jeff McGarn (GBD), Mitch Atkins (LendingPost) and Rod Brown (LendingPost)

Colin Pugsley (PRP Valuers), Scott McMonigal (Property Valuations NSW) with Kirsty Bryson (Astute Ability Finance)

Tim Bore (Mercedes-Benz Gosford) with Mharie MacLeod (Astute Ability Finance)

Jenny Harwood (Harwood Chartered Accountants) and Cindy Kirksmith (CFO)

Ann and Paul Freeman (Ebisprint) and Darren Hutton (InsuranceHouse)

Yvetter Zocher (Bloomtools) and Bev Adams (CCBR)

Scott Henshaw, James MacDonald (Forsythes) and Josh Sheather (North Constructions)

Leigh Clark (ANZ Bank) and Gosford Mayor Lawrie McKinna CENTRAL COAST BUSINESS REVIEW APRIL 2016

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FUNNY BUSINESS

AN AIRLINE WAS having engine trouble, and the pilot instructed the cabin crew to have the passengers take their seats and get prepared for an emergency landing.

A few minutes later, the pilot asked the flight attendants if everyone was buckled in and ready.

“All set back here, Captain,” came the reply, “except the lawyers are still going around passing out business cards.”

Did you hear about the banker who was recently arrested for embezzling $100,000 to pay for his daughter’s college education?

As the policeman, who also had a daughter in college, was leading him away in handcuffs, he said to the banker, “I have just one question for you. Where were you going to get the rest of the money?”

An accountant applies for the position of Chief Financial Officer. There are a number of candidates and he is called in for an interview. They ask him a number of questions and one of the panel suddenly says “What is nine multiplied by four?”

He thinks quickly and says “Thirty five.”

When the interview is over he goes outside, takes out his calculator and finds the correct answer is not thirty five. He thinks “Well, I blew that,” and goes home very disappointed.

The next day he is called and told he has got the job. “Wonderful,” he says, “but what about nine multiplied by four? My answer wasn’t right.”

“We know, but of all the candidates you were the closest.”

A very successful businessman had a

meeting with his new son-in-law. “I love my daughter, and now I welcome you into the family,” said the man.

“To show you how much we care for you, I’m making you a 50-50 partner in my business. All you have to do is go to the factory every day and learn the operations.”

The son-in-law interrupted, “I hate factories. I can’t stand the noise.”

“I see,” replied the father-in-law. “Well, then you’ll work in the office and take charge of some of the operations.”

“I hate office work,” said the son-in-law.

“I can’t stand being stuck behind a desk all day.”

“Wait a minute,” said the father-in-law. “I just made you half-owner of a moneymaking organization, but you don’t like factories and won’t work in an office. What am I going to do with you?”

“Easy,” said the young man. “Buy me out.”

Quote of the month “The best way to predict the future is to create it”

Brian Hilton Renault

What drives you?

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23

TAKES CORNERS. STEALS HEARTS.

Worthington BMW

Sales Finance Service Parts

THE NEW BMW 318i SEDAN HAS ARRIVED AT WORTHINGTON BMW.

The new BMW 3 Series Sedan is still the very definition of the premium sports sedan – but this Ultimate Driving Machine doesn’t just take corners, it steals hearts. Surround yourself in luxuriously modern interiors, experience the performance of the latest generation BMW TwinPower Turbo engines and savour every exhilarating curve and heart-racing hairpin. With extraordinary fuel efficiency of 5.4l/100km~ and a wealth of luxurious features as standard – including BMW Sport Line package, 18" Alloy Wheels, LED Headlights, Head-Up Display and BMW ConnectedDrive^ innovations – this icon provides exceptional value.

The new BMW 318i Sedan has arrived. Visit Worthington BMW for a test-drive today.

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COMPLIMENTARY BMW SCHEDULED SERVICING FOR 5 YEARS/80,000KMS†

Worthington BMW Cnr. Central Coast Hwy & Kangoo Rd, Kariong, Gosford. Ph 1300 179 754. worthingtonbmw.com.au

DL 16016

~Fuel consumption based upon Combined Driving Test Cycle from ADR 81/02 for automatic transmission. *Drive Away Price for the new BMW 318i Sedan with automatic transmission, metallic paint and no optional extras. Price is based on the vehicle being garaged in Gosford and a private owner with a good driving record. Price may vary according to individual circumstances. Standard production lead times apply. Cannot be combined with any other offer. Excludes fleet, government and rental buyers. ^BMW ConnectedDrive Terms and Conditions apply. Please refer to www.bmw.com.au/ConnectedDrive or contact Worthington BMW for further details. †BMW Service Inclusive Basic offer is valid for the new BMW 3 Series, and is based on the vehicle’s condition based service monitoring for 5 years from the date of first registration or up to 80,000kms, whichever occurs first. Normal wear and tear items and other exclusions apply. Scheduled servicing must be conducted by an authorised BMW dealer.