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Vol 26 December 2015

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Published monthly (except January)

business review

RAHAM G MCGUINNESS ‘REBEL WITH A CAUSE’ Formit wins Premier’s Export Award Australian fashion label celebrates two years Lonely Planet names Walkabout Wildlife Park

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Cover story 4 Graham McGuinness ‘rebel with a cause’

Business news 7 Formit wins Premier’s Export Award 8 Council set to land major player at Warnervale Aerodrome 9 Lonely Planet names Walkabout Wildlife Park 9 New Board for RDA-CC 10 North apprentice wins national award 10 Masters to open in Wyong 11 Australian fashion label celebrates two years 12 Aventus appoints Centre Manager 14 Aventus Property buys Tuggerah centre

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14 Laundy syndicate buys Long Jetty Hotel 15 North Entrance caravan park on the block 17 Tuggerah warehouse facility to go under the hammer 20 Can you still set-off an employee’s salary against Award entitlements?

20 Data security breaches...

Any company can be hit 23 BUSINESS SERVICES DIRECTORY

Regular features 6 Edgar Adams’ Editorial

Future assured with one council

12 Business Briefs 14 Property News 16 Commercial industrial property for sale / leasse 20 Business Tips 22 Funny Business

Front cover: Graham McGuinness

Hear Edgar Adams’ business comment 8.10am each Monday.

Also follow us on Facebook and Twitter

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 DECEMBER 2015

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COV ER S TORY

Graham McGuinness OAM - ‘rebel with a cause’ By Phaedra Pym DESCRIBED AS A groundbreaker in the health sector and officially recognised for his services to the industry and the community with an Order of Australia Medal in 2012, Graham McGuinness is showing no signs of slowing down in his ‘retirement’ years. With a career that spanned fifty years in the hospital industry, McGuinness is credited for having achieved many firsts in the NSW health sector right here on the Central Coast during his reign as CEO of the Central Coast Area Health Service and then as CEO of Brisbane Waters Private Hospital. A self described ‘rebel with a cause’; McGuinness has never been backward in coming for-

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CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

ward. He is unapologetically direct, with a flair for asking the tough questions, a pragmatist and a great believer in just getting on with the job.

So what brought McGuinness to the health sector in the first place? After completing his leaving certificate in 1961, McGuinness, like many school leavers, had no idea what he wanted to do with his life. As fate would have it, the Department of Health in Sydney was offering clerical positions at the time. After four years with the Department, McGuinness’ world was turned on its head when he was called up to serve in Vietnam. A passionate and proud Vietnam Veteran today, McGuinness has been President of the 1 Field Regiment Vietnam Veterans Association since its inception in 1987. He continues to be the conduit that holds the group together via the issue of regular self-written newsletters and the coordination of networking events and reunions. On his return from Vietnam, McGuinness completed a couple of Diplomas and a University Degree while steadily working his way up the ladder in the Department of Health. He enjoyed the pace and diversity of the industry from the very start and knew this was where his future lay.

McGuinness moved to the Central Coast in 1978 as a Management Consultant for the Central Coast Area Health Service (known today as the Local Area Health District). He said it was a great time to join the Area Health Service, as it was a period of massive growth and development. “We

also had a lot more latitude in those days unlike today where everything is very micromanaged.” McGuinness worked his way up to the role of Deputy CEO before being promoted to CEO in 1992. He stayed in that role until 1995 when he was awarded a contract with Brisbane Waters Private Hospital. His role was to re-establish the hospital, which at the time was underperforming. In fact, McGuinness did more than just improve the name of the hospital during his 9-year reign. He redeveloped the hospital as the first and only cardiac service on the Central Coast and grew its reputation as the Coast’s premiere critical care centre. “In the private sector, we live by our reputation,” said McGuinness. “If people don’t get good service, they simply won’t come back.”

With a passion for creating innovative change, McGuinness can claim many firsts in the health industry in NSW. He and his team were the first health service in NSW to create multi-skilled roles in the health system. They were the first to establish a centralised production kitchen that could service all five hospitals. They were the first to introduce a clinical divisional structure, giving each division its own Director with its own team and the power to “make decisions and get things done”. The logo McGuinness created back in 1993 still takes pride of place as the organisation’s logo today. And he launched the first and only cardiac service on the Coast. Best of all, McGuinness said, “We did it all quickly, without the 500 page report you would

COV ER S TORY

need today. We just decided, let’s get on and do it.”

So just how did McGuinness achieve so much so quickly? What was his secret?

Firstly, McGuinness said he is a firm believer in the power of delegation and empowerment. Another leadership trait coined and practiced by McGuinness is what he calls MBWA (Management By Walking Around).

This leadership trait was inspired many years ago when McGuinness had the opportunity to meet the late great rugby league coach Jack Gibson, who shared a simple philosophy with him that immediately struck a chord and has had a great influence on his own leadership style ever since. Gibson’s words were, “Don’t forget to keep your eyes and ears open and mingle with the crowd.” True to this philosophy and his own MBWA rule, McGuinness would do his own ‘rounds’ first thing every Monday morning, often starting in the hospital Laundry or Kitchen where he would observe, listen and connect with the staff on the floor. “When you become a physical presence out there, you gain a lot of respect,” said McGuinness. “People will start to voluntarily confide in you. MBWA is the most effective leadership tool and it’s not practiced anywhere near enough.”

Today McGuinness continues to contribute to the Local Area Health Service by serving on its Board of Directors. “I see my role on the Board as a ‘Devils Advocate’,” said McGuinness. “I ask all the hard questions and won’t let issues go until they’re solved.” And his ongoing contribution to

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Graham McGuinness OAM the Central Coast community doesn’t end there. At a time when many of his friends are spending their days travelling and playing golf, McGuinness divides his time and energy between a total of seven Boards and his additional voluntary role as a Year 10 life skills mentor at Erina High School.

The Boards on which McGuinness currently serves are the Local Area Health District, the Central Coast Palliative Care Association, the Central Coast Care Association (Chair), PACE Limited, RDACC, ET Australia (Chair), and the Primary Health Care Board (Central Coast,

Hunter and New England). “Serving on so many boards keeps me out of mischief,” said McGuinness.

While McGuinness has achieved remarkable results for the local health sector, it’s clear his passion goes beyond the health care industry. His passion is for the Central Coast community, with his energy and time directed at wherever the greatest benefits for the greatest number of people may be achieved.

McGuinness is true visionary who is happiest travelling under the radar and shaking things up in order to get things done.

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info@patongahotel.com CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

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EDITORIAL

Edgar Adams discusses local issues

Future assured with one council THE 16TH NOVEMBER will go down as an historic day on the Central Coast with Gosford Council agreeing to merge with Wyong Council to become one unified Central Coast regional council.

The bickering and arguing that has been the focus of these two councils over more than forty years has deprived our region of countless millions of dollars in government (state and federal) funding.

It has also significantly affected the regional economy with business and investors confused, disenchanted and generally let-down by the narrow mindedness and pettiness of those who have represented us over the years.

Thanks to the local government amalgamation policy of the Baird Government most of those issues can be put behind us.

The opportunities that abound here on the Central Coast can now be unlocked.

Of course there is a lot of work to do in merging these two organisations with two totally different cultures. That won’t be easy and there will be lots of tantrums but in the end reality has to prevail.

By this time next year it is possible that the merger will be completed and a new Central Coast Council will have been elected.

With a little bit of luck we should have a group of Councillors who are forward looking and have the capacity to think.

that of a full time appropriately remunerated Mayor.

In Queensland pay rates for mayors ranges from around $100,000 to $220,000.

So one would think that a Central Coast mayor should be somewhere in the middle of that.

As for Councillors, let’s not offer them too much as all that will do is encourage too many who can’t find a real job!

Meanwhile, the positive messages and actions that have come out of both councils over the past few years has set the Central Coast up for a bright future.

Generally speaking positivity can best be measured by the value of Development Applications put to councils and Approvals.

Between the two councils approvals are now well over a billion dollars.

Of course some may not go ahead due to bank lending policies and the like but many are and we are now seeing cranes in the sky in Gosford, Terrigal and Tuggerah.

Houses and units are under construction everywhere. The building trades are flat out and as these projects are completed the homewares retailers will start to see the benefits of a buoyant residential construction industry.

CCBR is aware of a number of projects in the design stage that will come to Council in the next six months and earlier.

One issue which must be addressed One 1area2/17/15 that is still10:24 languishing is that by the Minister for Local Government is Murrays_Erina-tamworth ad_small_update.pdf AM

of large business investments like factories and warehouses.

It seems that the focus on industrial development has moved to Western Sydney thanks to the State Government’s development policies for that region.

Instead of our politicians prattling on about the importance of jobs, they need to get their heads around what it takes to create an environment where business will expand and put on staff. Right now there are too many small businesses who are doing all they can not to put on staff.

Having said that, it is surprising the number of businesses that are starting up and flying under the radar. A good example is our story on page 11 about Bohemian Traders, an online fashion label that Emily Berlach started at home two years ago and has now expanded into a warehouse at Erina.

There is an increasing number of stories like this.

Finally may we wish our readers, advertisers and subscribers a Merry Christmas and Happy New Year and thank you all for you support over many years.

Edgar Adams Editor

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CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

GENERAL NEWS

Formit wins Premier’s Export Award FOUNTAINDALE BASED PLASTICS manufacturer, Formit, has won the Exporter of the Year Award at the 2015 Premier’s NSW Exporter of the Year awards. The award was for entries from the Hunter and Central Coast.

The Australian Export Awards recognises high-performing Australian businesses that drive international trade.

Formit is the largest manufacturer of portable toilets in Australia with 75% of the national market.

With such a high market penetration the company took the decision to expand by moving into other markets, initially New Zealand.

They now export to twelve countries and General Sales Manager, James Robertson says that over the past three years the company has tripled its export sales with portable toilets currently selling in the Middle East and China. They are supplied to hire and equipment rental companies as flat-packs ready for assembly at their destination.

Mr Robertson said that while competition from other countries, notably USA, is stiff their competitive advantage is quality, accessibility and now the benefits that will flow from the recently negotiated Free Trade Agreements.

“Our portable toilets have to withstand some pretty harsh outdoor conditions,” he said. “They are designed and manufactured for the Australian environment so they stand up to the conditions in the Middle East and anywhere else.”

“With regard to accessibility, speed of

Portable toilet assembly line at Formit delivery is an important selling point and we can offer delivery into Asia in around sixteen days while the USA is up to six weeks,” he said.

Also the Japan, Korea and China Free Trade Agreements has given the company the advantage of substantially lower tariffs which have been as high as 45%.

Mr Robertson praised the government support that the company has received to advance its export ambitions, particularly advice from the local export adviser, Sharon Foster, based here on the Central Coast as well as the Research and Development Grants that assist their promotions into new markets.

(Sharron Foster is the Senior Export Adviser, International Trade and Investment Branch of the Department of Premier and

Formit General Sales Manager James Robertson with Award Sponsor, Vanna Kadir, Head of Strategic Partnerships HiFX Australia Cabinet based at the Ourimbah Campus) Formit is very much a local company having developed the portable toilet that can withstand outdoor conditions and harsh treatment meted out on CONTINUED ON PAGE 21

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NEWS

Council set to land major player at Warnervale Aerodrome WYONG COUNCIL IS in discussion with Skydive Sydney to use Warnervale Aerodrome as the base for its skydiving operations.

Skydive Sydney, the largest skydiving company in Australia, has a booking terminal near Central Station in Sydney and currently skydives from Wilton Airport and also Cairns.

Wyong Mayor Doug Eaton OAM said Council’s investment in the aerodrome is already reaping rewards and the benefits that will flow to the region are exciting.

“If this gets off the ground it will mean fifty local jobs straight away and jobs are what we need more than anything else,” Mayor Eaton said.

“These guys are the biggest skydiving company in Australia. They will bring in tourists from around Australia and overseas.

“In fact they have said they believe they can boost international tourism to the Coast by twenty percent.

“This is why airports are so important for regional economies like ours – they really do deliver jobs and opportunities for their communities.”

The proposal is that initially a portable office would be set up at the aerodrome and the company can use the current runway for skydiving flights. Tourists would be bussed from the company’s Sydney Office and this may even start within the next couple of months.

“Obviously there is still a lot to be negotiated including hours of operations, flight paths and aircraft noise, and Council will be

looking at this closely to get the best outcome for the community,” the Mayor said.

He said the company uses Turbo Caravan airplanes which are acknowledged as among the quietest available.

In the longer term, the company is planning to build hangers and even move their maintenance facilities from Bankstown to Warnervale under a long term lease, subject to master planning and an Expressions of Interest process that Council will undertake for the regional airport site.

“Establishing a regional airport has always been about creating jobs, attracting commercial investment and growing our local economy,” he added.

“We’re still a number of important steps away from having a regional airport at Warnervale, but already the approaches and interest from business are coming in.

“This is not pie in the sky stuff – and the benefits to our community are massive and ongoing,” Mayor Eaton added.

“This is our ticket to drive investment, tourism and jobs in our region.”

Over the coming 12 months, Council will be completing the necessary steps to both attract business to the existing Warnervale Airport and confirm that it can be developed into a regional airport including: An Expression of Interest opened up to the aeronautical industry and its associated industries. This Expression of Interest will be published in 2016, providing all parties ample time and capacity to respond.

Community Consultation will be initiated to ensure that everyone can be engaged in the benefits that a Central Coast Regional Airport at Warnervale will deliver to the community and have the opportunity to provide feedback.

Formal consultation will be initiated once a Masterplan for the Central Coast Regional Airport at Warnervale has been finalised, in 2016.

Master Planning includes details on the layout, capacity, business presence and any building work that will be required, together with all relevant timings, to establish the Central Coast Regional Airport. The Master Plan is currently being developed and is expected to be completed in 2016.

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NEWS

New Board for RDA-CC CHAIR OF REGIONAL Development Australia – Central Coast (RDA Central Coast), Phil Walker, has announced the much-anticipated appointments of the RDA Central Coast Board Members.

The announcement was made in late October with all appointments confirmed until 30 June 2018.

Mr Walker said, “The recent success of RDA Central Coast has been underpinned by two key aspects: 1. Significant (collaborative) joint project work across all levels of government (as well as with other partners), primarily promoted and driven by the RDA Central Coast office.

2. The establishment of a strong strategic/ policy background for lobbying, setting goals and promoting consistent direction between agencies, local Councils and the community.

“I am confident that the new Board members will substantially build on this current position of strength and will further support our regional partners in developing innovative regional growth plans and strategies, which directly support economic development, the creation of new jobs, skills development and business investment,” he said.

Deputy Chair Bob Ward thanked the retiring members, Councillor Lynne Webster, Katie Smith and David Humphries for their significant contribution.”

RDA Central Coast CEO John Mouland added that he welcomed the well-respected industry and regional figures to the RDA Central Coast Board.

“The skill based appointment of the Board members has resulted in a wealth of economic development, property development, planning, health, education, retailing, business and government experience This practical knowledge is now available to the organisation which will further strengthen the strategic direction of RDA Central Coast and will directly assist the Region in addressing significant challenges for the Central Coast,” Mr Mouland said.

“I have every confidence that each of the appointed Board members will make a significant contribution, based upon their impressive individual skill sets, hands on industry experience and collective business acumen.”

The Board now comprises: Phil Walker – Chair Chairman of Mingara Recreation Club Bob Ward – Deputy Chair Councillor Gosford City Council Chris King – Board Secretary Gosford City Councils Arts and Entertainment Manager.

John Davison – Board Treasurer over thirty years’ experience in manufacturing, with formal qualifications in metallurgy and business and financial management, together with a trade background in fitting and machining.

In more recent times he successfully managed his own building materials distribution and internal lining business on the Central Coast and has recently retired as a business adviser with the Federal Government’s Enterprise Connect program.

Linda Cooper Linda Cooper is the Associate Director, Campus Coordination at The University of Newcastle, Central Coast Campus.

Lonely Planet names Walkabout Wildlife Park Lonely Planet has named the Australian Walkabout Wildlife Park at Calga number eight in the world for “Best Animal Adventure” (number one in Australia)!

Commenting on the news released in late October, General Manager Tassin Barnard said “We are ecstatic! The only way to get into Lonely Planet is to give visitors such an amazing experience that they all write to Lonely Planet and tell them to put you in the book! This is the best endorsement any tourist destination anywhere in the world could dream of.”

This is what Lonely Planet has to say about Walkabout Park. “You can visit this park by day to see native Australian animals roaming free, but we recommend the Wild Night Out where you can camp in the park overnight. The Wild Sleep Out is an awesome after dark adventure. Not just a ‘bed in the bush’, the rangers take you on a wild walkabout to meet the most amazing creatures foraging in the bushes and trees along the tracks before you retire to the campfire and then to bed, comfortably under canvas or in your own private fully equipped cottage.

Mrs Barnard said, “When you visit Walkabout Park, you know that you are making a direct contribution to conservation. This amazing wildlife sanctuary, open to the public every day, is also doing a huge amount of conservation work ‘behind the scenes’, working with universities and other institutions across Australia and around the world.”

“With no government funding, 100% of visitor gate fees fund the conservation work of Walkabout Park’s dedicated team of rangers and volunteers,” she said.

CONTINUED ON PAGE 21

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NEWS

North apprentice wins national award LOCAL APPRENTICE CARPENTER, Jarrod Page has received the highest accolade awarded at the National Master Builders’ Apprentice of the Year 2015.

Mr Page is a member of the North Construction & Building apprentice team led by Apprentice Manager Grant Cameron and the award is recognition of his commitment and dedication to his trade.

Managing Director Tim Cornish said Mr Page’s employment history and training programme had been excellent.

Mr Cornish said the company, established in 1986, was on a steady, profitable and planned growth, and is now the largest privately owned building contractor in the region and intended to employ a further five apprentices this year.

The award is a another highlight for North, having recently achieved a National

North Construction and Building’s Apprentice Manage Grant Cameron (l) with Jarrod Page (centre) and Managing Director Tim Cornish Top 100 ranking in the respected construction research and reporting group Cordell’s Top 100 Builders 2015 report.

“North now has the majority of our work negotiated and open book with our clients and we’ve rebadged as North, Building with

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Trust”, said Mr Cornish.

“Our employees are the ones who deliver this success and Jarrod’s award is a great endorsement of his personal achievements as part of our team” said Mr Cornish.

Masters to open in Wyong The first Masters to open in WyongThe first Masters Homemaker Improvement Centre is on the way for the Shire with Council agreeing to make a submission to the Joint Regional Planning Panel (JRPP) in support of the proposal.The development is proposed on part of a 42 hectare parcel of largely vacant land at the corner of Wyong Road and Tonkiss Street – close to the Tuggerah Westfield Shopping Centre. Masters plan to invest just over $26 million on a staged development of the site with the first stage creating a Masters Homemaker Improvement Centre on 5.3 hectares of the site, creating over 130 local jobs.

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NEWS

Australian fashion label celebrates two years AUSTRALIAN FASHION LABEL Bohemian Traders started almost by accident in November 2013 when Emily Berlach saw a unique Kantha Jacket she liked and wanted to buy from an online boutique but upon enquiring, was out of stock.

She searched the net looking for an alternative and found someone who could custom make one for her - the only catch was, she had to buy 10 jackets.

Emily decided the jacket was worth it and when the 10 arrived, she sold the remaining nine through her personal blog. They sold instantly! “I could see there was a market for good quality, wash and wear modern Bohemian clothing for women of all sizes� said Mrs Berlach.

Emily quickly developed more lines and had them manufactured by a small family run workshop in India before selling them through a BigCartel store aptly named bohemiantraders.com. “Our business grew organically month by month as we developed a unique audience through the blogging community. We were working from home day and night designing, importing and packing orders which were all specially wrapped to make the customer feel special.� said Mrs Berlach. “The BigCartel platform got us started but we soon saw that we needed our own website that would allow us to grow while maintaining a close relationship with our customers. At the same time we also found that we needed a reliable manufacturer to service our growing requirements so we moved away from production in India in preference for China where we found a small Chinese workshop that could offer a reliable service in respect to quality and delivery and where we could develop a

Emily and David Berlach close and lasting personal relationship.�

In mid 2014 the business had outgrown its “side hobby� status, and Mrs Berlach’s husband David left his role as a Senior Project Manager at North Construction & Building (where he had started 12 years prior as a Building Cadet), to work on the business as a team full-time.

By early 2015 they had exceeded the capacity of their home office and studio and moved the business into a warehouse unit in Erina, employing a Warehouse Manager shortly afterwards. “When we first started Bohemian Traders we were packing about ten orders per week,� said Mrs Berlach, “now it’s around one thousand a month.�

“We have a large number of loyal customers who know our brand will work for their busy lifestyle. We take the fuss out of dressing with our flattering and easy wearing cuts that are durable and machine washable. We are totally customer-centric and enjoy hearing from our customers by phone or by email. We listen to what they are telling us,� she said.

Mrs Berlach said that it is important to keep ahead of developments in the fashion business. “We are looking forward to 2016 when we will be launching our own line of premium denim for the Autumn/ Winter season, along with releasing a bespoke line of limited edition jewellery and accessories.�

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BUSINESS BRIEFS

Aventus appoints Centre Manager Ms Toshack was formerly Centre Manager with McKenzie Hall Pty Ltd and prior to that held senior administrative positions with AMP Capital and GPT Group Vicki Westwood who has been Property Assistant at Tuggerah for many years has been retained in a similar capacity by Aventus.

Natural food and juice bar opens at Long Jetty

Lambert said, “well firstly the rent wasn’t expensive, in fact it was quite realistic and secondly is a happening place.

The place just took off after that and now has a Newtown (Sydney) feel about it.

When they opened The Glass Onion Society in 2011 Ben Wright and his partner, Ana Koutoulas said “We see Long Jetty as being a bohemian art district as it has already attracted an alliance of new businesses, creating a thoroughfare of vintage fashion, organic food and second-hand furniture,” said Mr Wright.

Wheelie great pizza business sold!

Vicki Westwood and Paula Toshack AVENTUS PROPERTY GROUP which has recently acquired the Tuggerah Super Centre (see story Page 15) has appointed Paula Toshack Centre Manager.

Ms Toshack joined the Aventus Group as Centre Manager of the Belrose Super Centre following their acquisition of the property in 2013. She will co-manage both centres

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Steve Lambert outside The Raw Deal shop Long Jetty Steve Lambert has given up his IT career of forty years, most recently as Director Information Management at WorkCover, for a new life in the health food business.

He has established The Raw Deal – Bulk Natural Foods and Juice Bar on the corner of The Entrance and Pacific Roads, Long Jetty with his family.

“Our aim is to provide a first class service coupled with a broad range of quality organic foods at the right price,” said Mr Lambert.

Asked why he chose Long Jetty, Mr

A Wheelie Great Pizza mobile unit Wheelie Great Pizzas has been sold. This mobile operation has three purpose built catering trailers beautifully fitted out to make wood fired pizzas.

The concept was designed by Jenny Brooks and her partner Cathy Hinchcliffe with Council approvals for the purpose built units, food safety certificates, food authority approvals and the NSW rural fire service

aubrey brown L A W Y E R S

CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

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BUSINESS BRIEFS

exemption permits being just a few of the hurdles that confronted these business women when they set out.

Their growth over the past five years has gone from one trailer to three, one being a very large food unit.

The pair now wish to pursue their other business interests.

The new owner is Chelsea Ekepati (nee Wheeler) a Central Coast local who has taken early retirement from the police force.

Graham McMullen of Argyle Estates Business Brokers who negotiated the sale.

CFO Centre appoints Coast Principal

Cindy Kirksmith CFO Centre has announced the appointment of Cindy Kirksmith as Principal Central Coast.

Mrs Kirksmith has a wealth of knowledge and extensive experience in finance and managing multimillion-dollar operations with national and international companies.

Mrs Kirksmith has most recently been CFO of managed cloud solutions provider

Ultraserve and Orchestrated for the past four years and prior to that was CFO for The Complete Campsite. Her career was forged at Albany International where she was Accountant for seven years.

As a Chief Financial Officer, Mrs Kirksmith has been responsible for, forecasting and budgeting, business continuity planning, cash management, purchasing, administration, information technology and human resources. In addition, she has been responsible for the management and oversight of Payroll, Accounts Receivable, Accounts Payable, Financial Accounting and Management Accounting. She also provides assistance and guidance to the CEO through daily business decisions that align with the organisations strategic plans.

“The CFO Centre is the market leading provider of part-time CFOs in Australia with over 300 CFOs globally and a global client base of over 1000 clients. The CFO Centre help SME’s by offering strategic financial management advice and support on a regular basis or for particular situations as they arise.”

For more information about the CFO Centre visit www.cfocentre.com.au or call Cindy Kirksmith on 0431 383 066 Mobile coffee franchise changes hands The Cafe2u Tuggerah / Wyong franchise has been bought by David and Belinda Conna who have moved from Sydney.

Christine Donnelly has operated this business for just over two years however has sold for family reasons.

Established in Australia and still Australian

owned, Cafe2u has over 250 franchisees throughout Australia, New Zealand, South Africa, USA and the UK (with 4 territories on the Central Coast )

A Cafe2u coffee van All vans are Mercedes-Benz, vito diesels wrapped in a distinctive red wrap and known for their excellent fit outs.

Graham McMullen of Argyle Estates Business Brokers who had only just listed this business was negotiating with other buyers from their data base. So, with no advertising or promotion sold this quality business very quickly.

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

STATES ARGYLE43E32 6555 Ph: 02 et.au argyle@terrigal.n

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CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

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PROPERT Y REPORTS

New owner and name for Tuggerah centre Laundy syndicate acquires Long Jetty Hotel

Tuggerah Super Centre AVENTUS PROPERTY GROUP has acquired the Tuggerah Homemaker Centre from Bunnings for a reported $45 million in an off market sale that included a leaseback of the recently expanded Bunnings The property has been renamed Tuggerah Super Centre Hardware store on a new 15-year lease.

The property, originally owned by Terrace Tower Group who acquired it in 2002 through their subsidiary Tuggerah Business Park Pty Ltd was developed and traded as Tuggerah Supa Centa with a Bunnings Hardware store subsequently being added to the property.

Bunnings acquired the property in November 2012 for $23.5 million (Source: RPData) and subsequently undertook an extensive expansion and refurbishment

Over 20 years experience in business, residential, commercial, development and SMSF lending.

Zac Peteh, Director/Finance Broker Visit mintequity.com.au or contact Zac on 0402 883 450 or at zac@mintequity.com.au to learn more.

CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

their hardware store which was completed last year.

Prior to the purchase a number of leases expired and tenants not replaced. However many of the major tenants have remained.

Aventus has engaged local builders Pluim Commercial Contractors to carry out a $10 million redevelopment of the centre.

This will include: new air conditioning throughout the centre, new toilets, flooring and ceilings, lighting, new front entries and repainting.

Aventus has appointed an experienced centre management team (see Business Briefs) which is now working on redressing the current vacancies and introducing food and coffee options for customers and staff.

Aventus, whose major shareholder is fashion king, Brett Blundy launched on the ASX in October 2015 with an IPO of $900 million has acquired fourteen large format bulky goods centres around Australia in recent months , and is reported to be looking for further acquisitions.

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A syndicate associated with well known publican Arthur Laundy has purchased the Long Jetty Hotel for an undisclosed price.

The hotel at 405 The Entrance Road, Long Jetty, was sold using an EOI campaign through agents Manenti Quinlan & Associates with the price reported to reflect a yield of around 11.5 per cent.

The syndicate also owns and operates the Bateau Bay Hotel which it acquired in April this year for a reported $11 million.

The syndicate also owns hotels in Sydney and other regional towns.

The hotel with 15 gaming machines, which is on a 2,491 sqm corner site, attracted interest from hoteliers and developers

Investor buys in Gosford Hospital precinct

An investor has bought a property at 99 Holden Street, Gosford – in the Gosford Hospital precinct.

Price paid was $1.25 million (GST not applicable).

The property was sold prior to auction on a 7% return. There were thirty enquiries for the property and fifteen contracts were issued.

The property comprises a 227 sqm brick building on a 847 sqm block with 15 car spaces and is leased to I-Med Network Radiology with the lease expiring in 2017.

Brad Rogers from LJ Hooker Commercial Central Coast negotiated the sale.

PROPERT Y REPORTS

North Entrance caravan park on the block Developer buys West Gosford industrial lot

‘Dunleith’ Tourist Park North Entrance THE LITTLEFIELD FAMILY has put what could become one of the most sought after development sites on the Central Coast up for sale by Expressions of Interest through agents McLachlan Partners and Colliers The property, known as ‘Dunleith’ comprises a total area of approximately 16,643 sqm of level land near the lake entrance at North Entrance with 200 metres of direct water frontage to Tuggerah Lake.

The site has been identified by Wyong Council as a Key Iconic Site within The Entrance Town Centre Masterplan. It is

zoned B4 – Mixed use.

The property is being marketed as a development opportunity suitable for hotel, residential or serviced apartment development with associated retail and community facilities. The Key Site status provides for a 70 metre height limit.

The level site and location allows for 360 degree views across Tuggerah Lake and the Pacific Ocean to the east.

The Littlefield Family has operated the site as a caravan park for over 70 years.

For more information call Bruce McLachlan on 0410 510 234

A local property developer has purchased Lot 4 Dell Road, West Gosford.

The 2,175 sqm 4(a) zoned lot is opposite the ex RTA Motor Registry near Manns Road.

Price paid was $510,000 excluding GST. Geoff Broadhurst negotiated the sale in conjunction with Rodney Pitstock Gosford strata office for owner occupier An owner occupier has paid $120,000 plus GST for Suite 5 of 62 sqm on the first floor of 353 Mann Street, Gosford.

Rob Wilcox from Chapman & Frazer Real Estate negotiated the sale.

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FOR MORE INFORMATION PHONE 4367 0733 EMAIL edgaradams@ccbusinessreview.com.au CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

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16

PROPERT Y

COMMERCIAL AND INDUSTRIAL PROPERTY FOR SALE/LEASE

SOMERSBY MEADOWS NORTH WYONG - AFFORDABLE & CENTRAL 117m2 high clearance unit, front &rear roller door.

100m2 outside hardstand yard with side access.

LEASE $15,500 gross pa + GST

ERINA COMMERCIAL 104m2 ground floor commercial suite fully fitted out. Existing reception, offices, glass board room & internal amenities. 2 car spaces FOR SALE $385,000 + GST

IDEAL KINCUMBER RETAIL Approx 97m2 formerly Eagle Boys. Parking at the front door, exposure to Avoca Drive in strong, stable complex.

FOR LEASE $36,000 pa net + GST

QUALITY WEST GOSFORD SHOWROOM 230m2 including 45m2 of 1st floor mezzanine Glass shop front, electric container height roller shutter, high internal clearance.

SALE $350k + GST LEASE $25K pa net + GST

TUGGERAH - DISCOUNTED RATE OFFICES Excellent large office area approx 409m2 , amazing exposure! Approx 109m2 on ground floor & extra fit out equipment & work stations.

FROM $640,000

6 Lot Rural sub-division; 2Ha to 4.1Ha; Private sealed road access; Building entitlement; Building & usage covenants; North & East aspects; Settlement June 2016.

LANDSCAPE YARD

FOR LEASE

NORTH GOSFORD FACTORY $1.125M EXCL GST

A level 2835m2 site with stand-alone factory, glass façade offices etc, approx 961m2. Has 5 monorail cranes; will suit engineering, manufacturing, transport terminal etc

CHARMHAVEN ENGINEERS FACTORY FOR SALE/LEASE

Approx 1300m2 with partitioned offices; 5T gantry crane $1.5M excl GST/Lease $122,000pa net.

INVESTMENT

$1.55M GST N/A

The Entrance

Sale

Modern concrete panel industrial unit complex.

3 Units are leased and one vacant. Currently returning $72,302 pa gross with potential to increase to $132,302 pa gross. Suit part owner occupation or investor.

LARGE IND UNIT/WAREHOUSE

FOR LEASE

Erina Lease

CARNARVON RD IND UNITS

FOR LEASE

Concrete panel construction; very impressive presentation; approx 604m² incl ground floor conference room + partitioned & air conditioned mezzanine offices $60,000 pa gross excl GST.

each floor + 3 double garages & 16 car spaces!)

Prices shown with * are inclusive of GST.

Owner will do a deal for spaces 100m2 - 530m2 for

High exposure site on major highway with huge potential return of $103,000. Contains three tenanted residential apartments plus tenanted two bedroom flat, and three vacant commercial shops. Approx. 790sqm of land and 453sqm (approx.) of floor area.

A well positioned commercial property situated opposite the Tuggerah Lakes water ways. This property offers approx. 390sqm net lettable area with an already well established retail food business in place. Basement car park allocated spaces included.

2 floors of premium office approx 530m2 (230m2 on

WYONG – BRILLIANT CBD LOCATION

Sale/Lease

Located in the newly re-opened Dyer Cres West Gosford, approx 2529m2 with on-site amenities $48,000pa gross excl GST.

Pristine wall and floor finishes (almost food grade) in these recently refurbished premises; Unit 4 approx 133m² incl small reception office $18,550 pa gross excl GST & Unit 8 approx 141m² $18,875 pa gross excl GST

FOR LEASE $61,350 pa net + GST

East Gosford

Ground floor retail space approx. 161sqm. Airconditioned and wired for phones and cat5 cabling. Surrounded by quality businesses such as Domino’s, yellow brick road, weight watchers and Harvey Norman. Includes ample parking and flexible leasing terms.

Gosford Lease

A great CBD office close to Train Station, Imperial Centre and Post Office. 180m2 air-conditioned space with quality fit-out ready to occupy. Great signage rights and 4 assigned car space.

4365 0645

long term leases .

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

LEASE $100k pa net + GST for total space.

NORTH WYONG - QUALITY INDUSTRIAL UNIT Small secure gated complex. 130m2 unit with high clearance 2 offices downstairs & 2 upstairs offices & 42m2 mezzanine.

FOR SALE $190,000 + GST

NORTH WYONG – ZONED b6 Returning $185k pa + GST with multiple tenancies,

• Outdoor & Building Signs

mixture of industrial & manufacturing sheds, large

• A-Frames, Banners & Flags

secure yard & a residential cottage.

• Vehicle Graphics & Magnets

FOR SALE $2.7m + GST if applicable

• Indoor & Exhibition Signs

Bann ers

SOMERSBY - IMMACULATE WAREHOUSE,

• Full Colour Digital Printing

Very neat & tidy high clearance warehouse

• Lasercut Letters

approx 144m . Carpeted mezzanine office with a/c, 2

• Boat & Trailer Graphics

showroom, electric roller door FOR LEASE $25,000 pa net + GST le Vehic

WEST GOSFORD - SUPERIOR LOCATION factory /whouse, great

clearance & 2 large roller doors.

SALE $1.5M + GST LEASE $95K/G + GST. 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

21/1 Reliance Dr, Tuggerah • Ph: 4353 7700 ljhcommercial.com.au

CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

• Lightboxes & LED Signs • Retail Shop Fronts • Expo Signs & Displays

Approx 226m2 of high quality office with a/c + lunchroom & 430m2

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We create competitive edge photography for your product, service, or face behind the business

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Unit 16/10 Pioneer Ave, Tuggerah Business Park

PROPERT Y REPORTS

Tuggerah warehouse facility to go under the hammer Community group buys Gosford CBD building

A unique 1.34 ha site at 16 Pioneer Avenue, Tuggerah currently leased to Australia’s largest supplier of fishing tackle, Pure Fishing, owned by the Jarden Corporation, is scheduled to be auctioned on December 10 and is expected to attract strong interest due to the quality of the tenant and the property’s proximity to the M1.

With a secure 10-year lease to 2019 with two 5 year options for another 10 year period to 2029 at an annual rent of $1,179,956 the site will be auctioned on December 10 at 10.30am at the Commercial Real Estate Auction Centre, 50 Margaret Street, Sydney.

Listing agent Ty Blanch, Principal of LJ Hooker Commercial Central Coast, said ``While it attracts a big rent for the Central Coast, to lease the same size property in

Sydney would cost two or three times as much.

The property has three street frontages with the added advantage of huge exposure to Wyong Rd. It comprises of two adjoining warehouses measuring 5,577sqm, an additional 1,040sqm of office space including conference rooms plus 54 car spaces. The warehouses are also used for distributing sister companies Coleman and NUK products from the site.

Located within the prestigious Tuggerah Business Park the premier business address on the Central Coast. “A strength of this asset is that it is a purpose built, logistic import and distribution facility, and from here products can be distributed all over Australia,” said Mr Blanch.

Investor buys in The Palms West Gosford

A local community group has acquired a freehold property at 79 Mann Street, Gosford and will occupy part of the premises.

The building which is about 40 years old is on a 297 sqm site and comprises three levels providing a Net Lettable Area of 450 sqm.

Price paid was $590,000 (GST not applicable) Rob Wilcox from Chapman & Frazer Real Estate negotiated the sale.

203 THE ENTRANCE ROAD ERINA

Quality commercial centre – excellent main road exposure Shop 2 Ground floor – 137.7 sqm Retail space – New carpet, paint and kitchen amenities, ducted A/C and onsite parking $38,000.00 per annum gross + GST Office 6 First floor – 121 sqm office – New carpet, paint and kitchen amenity, ducted A/C and onsite parking. $33,000.00 per annum gross + GST

15 WATT STREET GOSFORD

A local investor has paid $396,000 (GST not applicable) for Unit 4 in The Palms complex at 13 Gibbens Road, West Gosford.

The 300 sqm unit is one of twenty-six in the complex built about fifteen years ago.

The sale was subject to lease which would provide a 6.6% return.

The unit had previously traded in 2008 for $350,000 (Source: RPData).

Geoff Broadhurst from Chapman & Frazer Real Estate negotiated the sale.

Good quality Gosford CBD office Lift access, new carpet tiles, fresh paint, ducted A/C, internal kitchen amenities and onsite parking (additional charge) Suite 3 First floor - 231.1 sqm $64,823.55 per annum net + GST Suite 4 First floor - 163.5 sqm $45,861.75 per annum net + GST * Suite 3 & 4 can be interconnected offering 394.6 sqm.

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

CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

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PROPERT Y REPORTS

LEASINGS Bakehouse moves into baking production at Erina

Paul Mackie, owner of The Bakehouse Cafes at Erina, Green Point, Tuggerah and St.Ives will centralise his baking activities in a factory he has leased at the rear of 28 Barralong Road, Erina.

The property comprises 402 sqm of warehouse/factory space.

Terms of the lease are 10 years with two 5 year options at a rental of $55,000 per annum including Outgoings plus GST.

TUGGERAH 154 Pacific Highway

SPECIALIST MEDICAL & PROFESSIONAL SUITES 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.

David Tawyer from Citicoast Realty negotiated the lease.

Somersby unit leased A cemetery maintenance contractor has leased a 220 sqm industrial unit with mezzanine office at 218 Wisemans Ferry Road, Somersby.

Terms of lease for Unit 12 are 2 years with 1 year option at a rental of $22,000 plus Outgoings and GST. Geoff Broadhurst from Chapman & Frazer Real Estate negotiated the sale.

Accountants choose Erina for new office

Fabricator leases at West Gosford A metal fabricator has leased Unit 8 a 233 sqm unit at 330 Manns Road, West Gosford Terms of lease are 1 year with 2 year option at a rental of $20,500 per annum plus Outgoings and GST Geoff Broadhurst from Chapman & Frazer Real Estate negotiated the lease.

MTN Accounting, based at Toukley and Berkeley Vale, will join their two practices and have leased Suite 5, 203 The Entrance Road, Erina which will be their new location.

Terms of the lease for the 193 sqm suite are 3 years with 3 year option at a rental of $49,000 per annum including Outgoings plus GST. Craig McMullen from Citicoast Realty negotiated the lease.

Car detailer commits to long lease at North Gosford

Timber company leases at North Wyong Midcoast Timber Centres Pty Ltd have leased a 1,743 sqm warehouse including offices at 15 Lucca Road, Wyong.

Terms of lease are 5 years with 5 year option at a rental of $125,000 per annum plus Outgoings and GST. The lease was negotiated by Karen Aubrey and Chris Watson from LJ Hooker Commercial Central Coast.

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

For further details please contact

Julie Davies on 4355 5111

CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

Pit Stop Auto Detailers have leased a 445 sqm factory at 94 Showground Road, North Gosford on a 5 year lease with 5 year option.

Annual rent is $21,000 including Outgoings plus GST. The lease was negotiated by Geoff Broadhurst from Chapman & Frazer Real Estate.

Maintenance company leases in Tuggerah Business Park Responsive Maintenance Pty Ltd has leased Unit 10, 8 Teamster Close, Tuggerah Business Park for storage and distribution purposes.

The 108 sqm unit is part of a 14 unit complex.

Terms of the lease are 2 years with 2 year option at a rental of $16,000 per annum plus Outgoings and GST. The lease was negotiated by Ty Blanch and Chris Watson from LJ Hooker Commercial Central Coast.

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...

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

Sign company leases in The Palms West Gosford Cooee Signs Pty Ltd has leased Unit 10 in The Palms industrial complex at 13 Gibbens Road, West Gosford.

Terms of lease for the 120 sqm unit which has office space and amenities over two levels is 3 years with 3 year option at a rental of $32,000 per annum plus Outgoings and GST. Kearen Aubrey from LJ Hooker Commercial Central Coast negotiated the sale.

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Baker leases at San Remo San Remo Fresh Bake Pty Ltd has leased a 65 sqm retail shop at 35 Liamena Avenue, San Remo Terms of lease are 5 years with no options at a rental of $24,000 per annum including Outgoings with No GST. Ty Blanch from LJ Hooker Commercial Central Coast negotiated the lease.

RESIDENTIAL PRESTIGE PROPERT Y REPORT

Mount White trophy home for Chinese businessman

Kincumber rural retreat

The property: 229 Morgans Road, Mount White. Set on 50 acres of surrounding national park and with views of the

Hawkesbury River this 6 bedroom home with 6 bathrooms, pool and helipad includes substantial main residence and luxury guest house.

The price: $3.4 million The buyer: a Chinese national businessman who wants to use it as his Sydney home when he is here for business.

The sale: The agent: Brett Hunter from Raine & Horne Avoca Terrigal.

Spectacular ocean views at Terrigal

The property: 44 John Gray Close, Terrigal.

This 4-bedroom, 3-bathroom custom built home features multiple indoor and outdoor living spaces, theatre room, infinity edge pool on a 968 sqm lot.

The price: $3.1 million. Terrigal’s highest price for 2015.

The buyer: A Sydney family as their residence.

The sale: The property was on the market with another agent for five months and

The property: 251A Avoca Drive, Kincumber.

Known as ‘Avalon’ this 12.1 hectares property is situated at the end of a private driveway off Avoca Drive. It has extensive established gardens with a spacious 4 bedroom home and 3 bathrooms and inground pool.

The price: $1,360,000 The buyer: A Sydney family The sale: The property sold at auction following a five week campaign. Three registered bidders pushed the price to $40,000 above the reserve.

The agent: Chris Andrews from LJ Hooker Avoca Beach who said that coastal acres are in high demand.

then listed with Raine & Horne in May 2015.

It was marketed via a property profile video, local and Sydney print media and the Internet.

The agent: Carol Jennings from Raine & Horne Terrigal CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

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BUSINESS TIPS

Can you still set off an employee’s ADVICE salary against Award entitlements?

MPLOYERS

ur arge can anage rce, r trade reduce s comp

By Warwick Ryan, Partner, SWAAB Attorneys

ck Ryan com.au "It's fine – I pay my staff well above the award – so we're all good, thanks Warwick."

s Hmmmm! Is that right? um Building, Is it the case that if you pay your carpenRINA NSW 2250

ter $80K, you don't have to worry about paying travel, site or tool allowances? Are overtime rates relevant if you pay a salary?

Well – it's tricky and whether you – as an employer are safe from future claims – lies in the wording of your contract of employment. It is not unusual for companies to pay a very high hourly rate or salary (well in excess of the award) and still be liable to pay compensation. How can that be so?

The Full Bench of the Fair Work Commission recently reviewed the law on this in the

course of reviewing an award. The decision highlighted the fact that paying above award rates – no matter how high above the award - will not of itself protect an employer from underpayment claims, where there is no corresponding clause in an employment contract which specifically provides for a 'set off' arrangement.

Over award payments in practice Most employees in Australia are covered by a modern award which will apply to their occupation or the industry in which they work. Awards typically set the minimum rate of pay for ordinary hours worked, with (higher) minimum rates for working on weekends and when performing overtime.

Interestingly, awards can apply to many jobs – even professional ones – that attract salaries of well in excess of $100K p.a. Of course all this can be avoided by a business introducing its own Enterprise Agreement – but discussion of that is for another day.

Most awards also provide for allowances to be paid to employees in certain situations – this might be, for example, under the Building and Construction (General) Onsite award, an allowance for supervising

Data security breaches… any company can be hit

other employees ("leading hand allowance") or for doing certain types of work for which extra compensation is deemed appropriate (working in particularly hot or cold conditions, etc). Working out the exact rate of pay an employee is entitled to at any time when taking into account all these factors can be a real headache for employers, and so many choose to pay above the minimum hourly award rate of pay on the assumption that this will adequately compensate an employee (without the need to pay them anything extra). This is the principle of 'setting off' an over award payment against some other entitlement under an award.

Lessons for employers The recent Full Bench decision held that unless an employment contract specifically states that an employer has a specific clause setting off over award payments, there will be a risk of an underpayment claim if an employee is not paid at least the same amount specified in the applicable award – for every single entitlement. The risk is highest where employees are paid by the hour.

Cash flow the life blood of business

• An e-business interruption, resulting from a security failure or internet virus?

• Costs related to a privacy breach notification of clients private details?

Nathan Corrigan, Account Manager, Insurance House Central Coast The information age allows us to collect and store more data and extract information around the globe 24/7. Access to sensitive information can significantly increase a company’s vulnerability to cyber security threats – any of which can result in significant out-of-pocket and reputational costs that can devastate the bottom line.

Is your company prepared for: • Identity theft resulting from lost or stolen financial information of customers, credit card numbers, tax file numbers, or other confidential information?

• A cyber extortion threat?

CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

No business is immune The targets of cyber attacks span a multitude of industries and cyber criminals don’t care where they steal private information from.

The perpetrator could live halfway around the globe. Organised cyber crime rings operate worldwide, 24/7.

Businesses have become more reliant on technology to operate, but it is people and our desire to trade that creates the exposures. Yesterday’s risks now manifest themselves very differently in today’s digitally connected world.

Existing insurance policies may be inadequate to respond to today’s digital exposures.

To find out more on how to limit your cyber exposure, and provide the necessary insurance protection for your business, contact Nathan Corrigan at Insurance House Central Coast on 1300 305 834 today.

Nathan Corrigan, Account Manager, Insurance House Central Coast

As widely reported, the number of companies feeling the heat from the ATO’s new vigour in its debt recovery philosophy is unprecedented. In the past six months garnishees are being used with gay abandon, legal action and wind up applications have sky rocketed whilst repayment arrangements with the ATO anecdotal appear to be a little more difficult to come by than they were post GFC. But what does this mean for corporate Australia, particularly the micro, small and medium enterprise (MSME) which accounts for more than 90% of Newcastle/Hunter business? What will be CONTINUED ON PAGE 21

CON T INUED AR T ICLES

Cash flow the life blood of business the side effects for the MSME market place?

The Tax Man’s heightened collection activity may result in more money for the government, but will not solve the issue of problematic debtors in the market place, those businesses underperforming, facing solvency issues and using the ATO and trade credit as a means of financing losses.

You don’t need to be a graduate from the school of the obvious to conclude that those businesses not paying taxes due to financial problems and under pressure from the Tax Man will look to alternate sources of free finance and most likely manifest in your business in the form of aging trade credit.

If the ATO’s policies result in a small shift of the $30 billion or so dollars owed to them by the private sector it will result in cash flow problems for MSME sector. It is therefore imperative in this emerging climate that businesses employ a high level of diligence in relation to debtor and credit policy.

A robust and effective business to business debtor/credit policy will maintain, enhance and protect cash flow. As we are all well aware, cash flow is the most important fundamental driver of any business. So what can we do? The following measures may help you avoid becoming an interest free financier for one of your customers/ clients: 1. Do you have a formal debtor/credit policy? If not get one. Your industry body may be able to provide a pro-forma policy, or a friendly competitor, if not any reputable commercial legal firm will be able to draft suitable policies for your industry.

2. If you do have a formal debtor/ credit policy review it ASAP. Times have changed. Ensure your credit application and terms of trade are up to date with current legislation for example the Personal Property & Securities Act 2009 as well as industry best practice.

Consider inclusions such as personal guarantees and registerable interests in real estate.

3. Ensure your customers are well informed of your Debtor/Credit policies and practices you employ promoting these policies. This ensures no surprises if credit is refused, terms of supply change or collection activities are undertaken. Review aged receivables listing and respond to any aged debts.

4. Review your aged receivables weekly.

CONTINUED FROM PAGE 20

This is the primary source of cash flow for your business unless sales are primarily cash. Remember a sale is not really a sale until the cash hits the bank. Identify aging debtors and monitor them closely.

Employ your debt collection policy as early as possible. Those who move first usually get paid first, the last to move often end up speaking with the Liquidator.

5. Review your customer base to identify any industry groups or sectors that may be under economic duress or customers who are consistent late payers. Stay abreast of local and regional economic conditions as well as national and global conditions.

6. Make sure you employ your debtor / credit policy consistently. Be systematic and timely in its implementation. A good debtors’ clerk is worth their weight in gold. The right person will ensure you get paid before others without angst and argument, whilst still retaining commercial relationships with genuine customers.

7. Form a relationship with a reputable mercantile agent and legal advisor specialising in debt recovery.

8. Finally, there’s an old adage about enemies which when related to debtor/ credit policy reads “Keep your timely paying customers close, but your slow paying customers even closer”.

Some businesses can be hesitant to formally pursue aged receivables early in the collection curve for fear that they may upset and lose that customer. Remember your customers are businesses too and understand the need for effective debt collection policies and will often respect professional, organised and systematic approaches when people are trying to recovery money from them. Let’s face it, we all know how rigorously the pointy end of town employ their debtor/credit policy, much to MSME envy.

So remember, cash flow is the life blood of any business operation, a sale is not a sale until its paid for, although your accountant may argue the opposite, and keep your enemies, i.e. slow paying customer closest and hopefully what was once the Tax Man’s problem, will not become yours.

About Paul Gidley Paul is a Director at Shaw Gidley Insolvency and Reconstruction and has more than

two decades of experience in corporate and personal insolvency and reconstruction across a broad range of industries and commercial sectors. He holds has a Bachelor of Commerce, a Masters of Business Administration, and is both a Chartered and Certified Practicing Accountant. Paul is also a member of the Australian Restructuring Insolvency & Turnaround Association.

Formit wins Premier’s Export Award CONTINUED FROM PAGE 20

building sites around the country some thirty years ago. Although it has changed ownership it remains locally based and Australian owned.

Originally established in 1980 at Tuggerah the company moved to larger premises at Fountaindale in 2007 where it manufactures and assembles portable toilets and other products using the latest world-class thermoforming machinery An outstanding feature of the company’s operation is its commitment to buying locally. Raw materials are sourced from Price Plastics at West Gosford. They employ 35 people at their Fountaindale plant.

New Board for RDA-CC CONTINUED FROM PAGE 9

Michael Dowling Director of Property and Economic Development at Wyong Shire Council Daniel Farmer Regional Manager of the Central Coast Business Chamber.

Matthew Hobden Oceanic General Manager of an industrial global organisation.

Graham McGuiness OAM Chair of a number of organisations in the health care industry Tim O’Brien – Board Member Mr O’Brien is the founder of the WiC organisation Deborah Warwick Centre Manager of the Imperial Shopping Centre in Gosford and Chair of the Gosford Business Improvement District (GBID) John Willey Business Development Manager for Property Development and Economic Development at Wyong Shire CENTRAL COAST BUSINESS REVIEW DECEMBER 2015

21

22

FUNNY BUSINESS

A GUY SAYS, “Doctor, Doctor! Help me, I keep thinking I’m getting smaller!”

Doctor replies, “Well, you’ll just have to be a little patient.”

A pipe burst in a doctor’s house. He called a plumber. The plumber arrived, unpacked his tools, did mysterious plumber-type things for a while, and handed the doctor a bill for $800.

The doctor exclaimed, “This is ridiculous! I don’t even make that much as a doctor!.”

The plumber waited for him to finish and quietly said, “Neither did I when I was a doctor.”

Two gas company servicemen, a senior training supervisor and a young apprentice were out checking meters in a suburban neighbourhood.

They parked their truck at the end of the street and worked their way to the other end.

At the last house, a woman looking out her kitchen window watched the two men as they checked her gas meter.

Finishing the meter check, the senior supervisor challenged his assistant to a race down the street and back to the truck to prove that an older guy could outrun a younger one.

As they came running up to the truck, they realized the lady from that last house was huffing and puffing right behind them. They stopped and asked her what was wrong.

Gasping for breath, she replied, “When I see two gas men running as hard as you two were, I figured I’d better run too!”

A couple were having a discussion about family finances.

Finally the husband exploded, “If it weren’t for my money, the house wouldn’t be here!”

The wife replied, “My dear, if it weren’t for your money I wouldn’t be here.”

Teacher: “George Washington not only chopped down his father’s Cherry tree, but also admitted doing it. Now do you know why his father didn’t punish him?”

Student: “ Because George still had the axe in his hand “ Some quotes reportedly taken from actual employee performance evaluations of a large corporation: ‘’His men would follow him anywhere, but only out of morbid curiosity.’ ‘’This employee is really not so much of a ‘has-been’, but more of a definite ‘won’t be’.’’ ‘’He would be out of his depth in a parking lot puddle.’’

‘’He sets low personal standards and then consistently fails to achieve them.’’ ‘’This employee should go far, and the sooner he starts, the better.’’ ‘’He would argue with a signpost.’’ ‘’If you see two people talking and one looks bored, he’s the other one.’’ ‘’A photographic memory but with the lens cover glued on.’’ ‘’Has two brains: one is lost and the other is out looking for it.’’

Quote of the month Whenever you see a successful business, someone once made a courageous decision.”

Peter Drucker

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TAKES CORNERS. STEALS HEARTS.

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