CCBR July 2016 by Central Coast Business Review

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Print Post Approved – PP100001854

Vol 26 July 2016

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CENTR AL COAS T

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Published monthly (except January)

business review

JARED HIRST Age is no barrier to success

DA lodged for Gosford Alive The Arthouse a vision for the Coast New P-TECH school announced for the Central Coast

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CON T EN TS

Read ersh ip

20,00 0 Cover story 4 Jared Hirst – Age is no barrier to success

Business news 7 DA lodged for Gosford Alive development 8 Council approves land for train maintenance facility at Kangy Angy 9

The Arthouse a vision come true

10 New P-TECH school announced for the Central Coast 10 Pullman Magenta Shores completes refurb

14 Proposal into Council for Toukley development 14 ATO approval not a walk in the park 15 East Gosford investment site sold 16 Commercial and Industrial Property For Sale / Lease 19 Where disrespect is shown to management in the workplace – no one wins 19 Protecting your business against employee theft 20 7 deadly sins of small business 21 Central Coast Mariners Centre of Excellence the venue for CCBR Cocktail Evening

11 Mr Poolman – Australia’s local pool shop online

Regular features

12 LendingPost opens Erina office

12 H&H Catering sells Wamberal Café

Will we be left behind in the High Speed Rail race?

13 Council announces interim leadership team

12 Business Briefs

13 Logistics Networking Forum established

18 Residential Prestige Property Report

13 New owners for Telstra Store at Lake Haven

22 Funny Business

Contact

Front cover: Servers Australia CEO Jared Hirst Photo by Essence Images

Edgar Adams’ Editorial

14 Property News 19 Business Tips 23 BUSINESS DIRECTORY

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 JULY 2016

COV ER S TORY

Jared Hirst – Age is no barrier to success AT THE AGE of just 29, Jared Hirst has experienced more highs and lows in business than many see in a lifetime. As founder, sole Director and CEO of Central Coast based national dedicated hosting provider Servers Australia, Hirst and his team are currently riding a massive wave of success with the company’s multi-million dollar annual revenue projected to triple to more than $14 million within the next 12 months. Servers Australia and Hirst have also won a string of awards and accolades, including Central Coast Business of the Year in 2014, Young Entrepreneur of the Year for Hirst in the same year and the company secured number 40 on the CRN Fast 50 list last year. But it hasn’t always been smooth sailing. This is the story of how a boy from the bush overcame the odds to become our fastest growing business success story. Founded in 2006, Servers Australia was growing at a rate of knots until the decision to take on business partners in 2010 with some ‘bad seeds’ in the mix brought the company to its knees. It is a true credit to Hirst’s unwavering commitment, belief in his vision, resilience and strategic thinking that his company bounced back from the

By Phaedra Pym

brink of going under to become one of the country’s top dedicated hosting providers. Some of Servers Australia’s customers today include St Johns Ambulance, Jim’s Group, Carpet Court, and a number of NSW Government departments, including Transport for NSW and NSW Health. After spending his early childhood in Sydney, Hirst and his family moved to a farm on the NSW mid-north coast when he was in year 9. A self-confessed ‘nerd’, Hirst spent all his time indoors on the computer rather than going out and playing sport as most teenagers do. He started his first business under his own ABN while still at school in Taree at the age of 16, selling computer parts and repairing computers for family and friends. Hirst credits his Business Studies teacher as a key influencer in his decision to move into business and teaching him the skills of running a business properly. While most were writing fictitious business plans at school Hirst was busy writing the real thing. His teacher was very supportive of his plans to start a business while still at school, as were his parents, who successfully negotiated with the principal to allow their son to bring a laptop to

school so he could work on his business during lunch breaks. Fresh out of high school, Hirst’s first major breakthrough came when he introduced high speed Internet into Taree, thanks to some connections in high places. This allowed him to start hosting websites from his office while working full time in an electrical goods store (the only time Hirst has ever been employed). “One of the most important things I ever learnt was to do things properly,” said Hirst. Moving his first server into Equinix and Globalswitch in Sydney was a true game changer. “They are known as two of the most secure data storage places in the world. You couldn’t get in unless you knew someone,” said Hirst. Obtaining racks at those data centres gave Servers Australia the credibility and reliability it needed to secure the hosting needs of some of the country’s largest business players. Today Servers Australia has more than 400 racks in Equinix and is one the global giant’s top ten customers in Australia. Hirst moved to Newcastle in 2008 and established an office and his third data centre. It was at this point that the business really started to grow in earnest. Moving to

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THINK OUTSIDE THE BANK

COV ER S TORY

the Central Coast, he opened a fourth data centre at Tuggerah Business Park (which he later moved to the Nexus Smart Hub in North Wyong for greater stability). He also made the decision to take on some business partners. That’s when it all started to unravel. Almost going bankrupt taught Hirst another key lesson – to never give up control of his company. His strategic decision to retain majority shareholding in the company was the key to his survival. “We went from a solid revenue generating company with five or six staff to a company generating zero revenue virtually overnight,” said Hirst. “I kept the data centre and slogged it out, concentrating on doing it better. Today we’re in seventeen locations and generating more than a million dollars a month.” From the very beginning Hirst has driven the Servers Australia key points of difference, which are delivering high quality 24/7 local service and support, being 100% Australian owned and run (unlike other data hosting companies that outsource offshore) and only using the latest and greatest technology. In Hirst’s quest to be the largest and best dedicated hosting provider in Australia, Servers Australia has recently acquired the company’s three main Australian competitors, while selling its 4,000 shared web hosting customers so they could focus on dedicated infrastructure. The latest acquisition occurred early last month. The deal was valued in the millions. Astonishingly, everything Hirst has achieved has been with zero funding assistance as every lending institution he approached felt IT was too risky. Ironically,

Servers Australia Head Office Tuggerah Hirst says the lack of funding was a blessing in disguise, albeit one of their greatest challenges. “It taught us to use what we’ve got and be really frugal with our money,” he said. The company has only recently obtained approval (from a non-bank lender) for its first line of credit. The other major challenge Hirst says he has faced throughout his journey is his age. “Most people don’t take you seriously when you’re young,” said Hirst, adding that it has been the support of global companies like Equinix that has enabled him to break through the challenge of his youth. Such was Equinix’s belief in Hirst’s potential that they assisted him financially when his back was to the wall. “One of the lessons I learnt from that experience was to be loyal to your suppliers and to everyone who has helped you during your rough times. Another was to be honest and ask for help when you need it,” said Hirst. Today Hirst employs a team of 50, including an expanding team of 30 on the Central

Coast. “We’re currently recruiting for seven staff on the Coast,” said Hirst, who believes in the benefits of building a strong workplace culture, the success of which is immediately apparent on entering the office environment. Indeed a focus on workplace culture is another key to Hirst’s success. His management style is relaxed and open and he is rewarded with a team that works hard and shares the company values. Recently engaging a marketing manager from the U.S. has also been a game changer for the company with all sales now resulting from inbound enquiries. Hirst and the team are also very active in the community, sponsoring a number of business chamber events and initiatives and regularly attending (and contributing financially to) charity events as a team. In terms of where to from here, Hirst’s goal is to stay on the Central Coast while continuing to grow nationally and increase the company revenue to $50 million within the next two years.

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EDITORIAL

Edgar Adams discusses local issues

Will we be left behind in the High Speed Rail race? JUST BEFORE WE went to press Regional Development Australia Central Coast held a Forum on High Speed Rail focusing on a Sydney - Newcastle service. We didn’t have time or space to report on it in this issue of CCBR but events are now moving rather quickly so I will canvass the issue in this column and report more fully next month. Firstly the concept of High Speed Rail in Australia has been around since the early 80’s but successive governments have put it in the too hard basket. Things are changing. It appears now traditional thinking, that road and rail infrastructure must be government owned and financed, has softened with the realisation that private enterprise has the capacity to pull these projects off and can do a better job of operating them than government. Politically, its nice and safe for politicians too. It is also dawning on us that low interest rates are with us for a long time and big foreign investors are looking for long term (40-50 years) projects to invest in. There are other regions, particularly the Southern Highlands, who are promoting High Speed Rail and very effectively and leveraging off Badgerys Creek. The Hunter and Central Coast are behind the eight-ball in terms of putting in the

amount of effort needed and the Central Coast hasn’t even got into the game. The Central Coast, with around 350,000 people and growing plus 40,000 commuters and the Hunter population of around 650,000 must give us the basis for a strong case for High Speed Rail. The community needs to get behind this and work with Newcastle to put up a case. Are you one of the many businesses that are finding it impossible to get connected to the NBN? This is now becoming a major issue and it needs to become a major political issue for our Federal MPs. With the election out of the way it is time for the business community to tell our MPs that we expect the disconnect with the NBNCo to be fixed. We now have a situation where the previous Labor Government and the Liberal Government are both culpable in this debacle which as it unfolds is proving to be another Pink Batts project except no one has been killed. NBNCo does not answer any applications for connections or answer enquiries from desperate customers. CCBR intends to make this an issue going forward. If you have a problem tell us on our Facebook page.

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Being frightened of naming telcos like Telstra or Optus or NBNCo in particular will only play into their hands. The whole community has been taken for a ride on this issue and it can only get worse. Finally, I hope you find our Cover Story on Jared Hirst inspiring as well as our story on Mr Poolman – Australia’s online pool shop on page 11. These two stories tell us one thing. Our future is in our young people and the Internet. Here we have young people having a go and succeeding. Jared Hirst has bypassed the NBN and built a substantial business as a national dedicated web hosting company, Servers Australia, right here on the Central Coast. Tomas and Natalie Hintze have taken their father’s pool maintenance business and turned it into an online business for pool parts and accessories. They have customers everywhere and are growing. Edgar Adams Editor

10:24 AM

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CENTRAL COAST BUSINESS REVIEW JULY 2016

BUSINESS NEWS

DA lodged for Gosford Alive development THE LEDERER GROUP have lodged their Development Application for a mixed used development in Gosford City Centre known as Gosford Alive with the Central Coast Council. Gosford Alive is an exciting 15 – 20 year vision to transform the heart of the Gosford City Centre. The masterplan for the proposed development includes contemporary apartments and townhouses, featuring striking architecture that reflects and celebrates the region’s natural beauty and the recent refurbishment of the Imperial Shopping Centre also owned by the Lederer Group. The masterplan responds to the NSW Department of Planning and Environment’s Draft Central Coast Regional Plan, released in late 2015. Lederer sees Gosford Alive as a new social hub for Gosford, offering a unique residential offering, the delivery of significant improvement to the public domain, and long term social and environmental benefits. “Together, this aligns with the NSW Department of Planning and Environment’s nomination of Gosford as the new capital of the Central Coast Region,” they say. The precinct development is located across two city blocks, totalling 28,898 sqm and designated as two separate sites. Site A comprises the Imperial Shopping Centre and Site B comprises the Kibbleplex building which Lederer bought from Council diagonally opposite the Imperial Centre and overlooking Kibble Park. The DA now before Council seeks a Stage 1 “concept” approval for a mixed use development, which includes: • Staged demolition of the existing structures at Site A and Site B;

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Gosford Alive overlooking Kibble Park • S taged construction of 9 mixed use and residential buildings across both sites, made up of 5 buildings at Site A and 4 buildings at Site B up to a maximum height of RL 99.0, and a temporary open space area at Site B; •A mix of non-residential uses, including; - Commercial retail space, within a redeveloped Imperial Shopping Centre at Site A; and - Multiple ground floor commercial spaces within Building 1 to 4 at Site B. •B asement excavation to 8 levels at Site A and 6 levels at Site B, to provide lower ground retail uses and parking for residential and non-residential uses; •P ublic domain improvements, including publicly accessible pedestrian areas, through site links, and streetscape improvements; and

Gosford Alive image • Associated civil and landscaped works The above works will be presented to Council in detail under future “Stage 2” DA’s. The application before Council is seeking consent only for the building envelopes, gross floor area, and land uses. The capital investment value for the entire project is approximately $851,171,000.

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BUSINESS NEWS

Council approves sale of land for train maintenance facility at Kangy Angy THE CENTRAL COAST Council has agreed to sell land in Orchard Road, Kangy Angy to the State Government to build a multimillion dollar train maintenance facility with the potential to create hundreds of local construction jobs and ongoing employment on the Central Coast. The land was identified by the State Government, in September last year, as the preferred location to establish a new Fleet Management Facility due to its proximity to the railway line that the new Intercity fleet of trains will regularly travel on. Commenting on his decision Administrator Ian Reynolds said, “It is likely the State Government would have moved to compulsorily acquire this land if Council had not agreed to sell it. This decision guarantees the best outcome for Council and residents.” The new Intercity Fleet will replace trains servicing passengers from Sydney to Central Coast, Newcastle, the Blue Mountains and Illawarra.

The new trains will come into service progressively with the first to be delivered in 2019 and progressively through top 2024. The Kangy Angy facility was identified as the preferred site based on operational, environmental, land ownership and construction considerations, including the requirement to the facility in operation for the introduction of the new fleet. The purpose built facility will provide a high standard of maintenance for the new state-of-the-art intercity train fleet. Designed to accommodate trains of up to 205 metres in length, the maintenance building will hold four trains, with the ability to expand to five in the future, if required. New jobs will be created during the construction phase of the project. Flow-on economic benefits are expected for the local community during the operation of the facility. Work force apprenticeships and strategies on how to

support local small to medium enterprises and social not-for-profit enterprises will be put in place. The maintenance facility will include: • A maintenance building including a stores area for carrying out general maintenance and to hold the necessary spare parts to maintain the new trains • Offices and amenities to house maintenance and office staff, including staff parking areas • A wheel lathe building to maintain the train wheel sets • Train decanting and cleaning facilities • An automated train wash building to wash trains • A yard area with tracks to allow for the efficient movement of trains within the site for maintenance activities • Power supply equipment for the facility Construction of the facility is due to start in early 2017 and is planned to be completed in late 2019.

5 Lands Walk attracts tourists It started eleven years ago and is now firmly established as a day-long cultural festival that is drawing in the crowds. The 11th 5 Lands Walk held in June saw an estimated 18,000 people of all ages participate in the spectacular nine kilometre walk from Macmasters Beach to Copacabana, Avoca Beach, North Avoca and finishing at Terrigal. Organisers say that the Festival is attracting increasing numbers of visitors from outside the region each year. Palm

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Beach Ferries reported bringing almost 300 people from Palm Beach to Ettalong. The Festival comprises a range arts, cultural and entertainment programmes and the opportunity to witness the rich cultural and artistic fabric the Central Coast offers and a chance to see whales on their annual migration north. President Con Ryan said, “We are delighted that this year’s festival provided so much for so many, locals and visitors alike. Our challenge is to further enhance

the experience and the focus now is to ensure next year’s event offers even more. Our ultimate aim is for the 5Lands Walk to become an attraction used and enjoyed every day of the year. This year’s Platinum sponsors included; Crowne Plaza Terrigal, Busways, Gosford Classic Car Museum, Ettalong Diggers, Central Coast Leagues Club, TendPac, Mark Moran Group, H&H Catering, Freemasons, Central Coast Tourism, Pax Australia and Gosford City Council.

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BUSINESS NEWS

The Arthouse vision come true TEN YEARS OF planning and persistence and an investment of $12.7 million on the part of Wyong Council saw the opening of The Art House at Wyong at the end of May. The Art House was officially opened by the Deputy Premier of NSW Troy Grant and the Central Coast Council Administrator, Ian Reynolds at an Opening Celebration Concert. The Art House comprises a 500 seat theatre, 130 seat studio space, meeting room, exhibition space and café bar. A state-ofthe-art fly-tower is a feature of the theatre enabling it to accommodate professional touring productions. Mr Reynolds said he was thrilled to be part of the opening of a premier new arts venue in the Central Coast region. “I congratulate everyone involved and the former Wyong Shire Council’s vision and leadership in funding the construction of this amazing cultural facility,” he said. Mr Reynolds also thanked the State Government through Arts NSW and Clubs Grants NSW for their contribution towards the very important fit out elements. The Art House was built by local builders North. Commenting on the build Business Development Manager, Josh Sheather, said,

The Art House Wyong “North are extremely proud to have been the builder of the Wyong Art House. The fact that a local builder along with local subcontractors, have been able to deliver a state of the art facility for the local community is something we all should be proud of. The Arthouse was an extremely complex project, taking into consideration the detail involved with the structure itself including the 17 m fly tower, coupling it together with the acoustic finishes to allow the facility to perform to its required standard was a huge challenge. Our Construction Team have done a tremendous job.”

The Art House Project Director, Julie Vaughan with Deputy Premier Troy Grant.

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BUSINESS NEWS

New P-TECH school announced for the Central Coast A Turnbull Government will extend the P-TECH (Pathways in Technology) program by announcing another new pilot at Wyong High School with employer partners, Mars Food Australia, Sanitarium and the Central Coast Business Chamber. The announcement was made during the election campaign in Wyong by the Federal Minister for Education and Training, Senator the Hon. Simon Birmingham. Mars Food Australia, Sanitarium and the Central Coast Business Chamber joins, PwC, Barwon Health, GMHBA, Bendigo Bank, Opteon, Tribal Campus and IBM who have already committed to the program around Australia. Skilling Australia Foundation welcomed the announcement commenting that the first P-TECH school was established in the US by IBM in 2011 in collaboration with the New York City Department of Education, The City University of New York, and the New York City College of Technology. IBM has also committed to lead the site in Ballarat. “The P-TECH Science Technology Engineering and Math model is a perfect fit for the region. The new innovation partnership will build on momentum and ensure a strong skilled labour pipeline” said Skilling Australia Foundation CEO, Mr Nicholas Wyman. “We are delighted with the response from the local community and business people and the opportunities it will offer the region’s young people” he added.

Pullman Magenta Shores completes refurb

Pullman Magenta Shores Resort REFURBISHMENT OF ACCOR Hotels’ Pullman Magenta Shores Resort has been completed ensuring its 5-star status and securing it as the Central Coast’s leading accommodation offering. The last eighteen months has seen a complete refurbishment of the Bar and Conference Rooms including new furniture, wall coverings, painting and audio visual upgrade. In line with all Pullman properties Accor Hotels have invested extensively in upgrading the computer systems and equipment with more efficient technology to enhance work experience and guest satisfaction. Over $350,000 was invested in a complete refurbishment of the Shallows Bar and more recently $160,000 has been spent on a full Lobby refurbishment which will be completed during July. The whole refurbishment project has been overseen by General Manager, Sam Panetta who took control of the property in late 2014 with the aim of ensuring its 5-star status. Since his appointment at Pullman Magenta Shores Mr Panetta has wasted no time in positioning the property as the

leading tourism asset on the Central Coast and supporting the tourism industry and business in the region. “Our aim is to work closely with local community and it is important to us to build strong relationships, demonstrating this in the last twelve months through our involvements and local support,” said Mr Panetta. As an indicator of this support Pullman Magenta Shores is supporting the Wyong Regional Chamber of Commerce with a $14,000 sponsorship this year as well as membership support for The Entrance Chamber of Commerce and Greater Toukley Vision. Additionally they are a sponsor of the AFL Black Diamond team. Supporting the tourism industry Pullman is an international level member of Central Coast Tourism. Mr Panetta is Chairman of CCT and is very active in promoting tourism in the region. The hotel works in partnership with the Magenta Shores Golf & Country Club, the only private golf course on the Central Coast. The hotel offers Stay & Play packages as the Golf Course is exclusive to members and guests, plus guests of the resort.

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NEWS

Mr Poolman - Australiaâ&#x20AC;&#x2122;s local pool shop online HARDY HINTZE QUIT corporate life in banking and finance twenty years ago and set himself up in the swimming pool maintenance business as Waterwise Pool Services operating from his home in Gosford and a service van. By offering excellent customer service and good marketing the business grew and he soon had a successful business with around 200 loyal customers.Â Part of that service involved an extensive knowledge of pools and where to get parts and accessories for the hugely diverse range of pools in the market place. He had a young family, Tomas and Natalie who, as they were growing up, were taking an interest the business and would one day join him if that was what they wanted to do.Â Initially Tomas joined the business in 2009 after completing a trades course and Natalie came on board right after leaving school a few years later. In 2012 a retail shop was established on the highway at North Gosford for the purpose of retailing swimming pool accessories and parts as well as being a base for an expanded pool maintenance service and the name of the business was changed to Mr Pool Man. But it was the Internet that would change the nature of the business. Both siblings knew the power of the Internet and the opportunities that it could open up by becoming an online shop for pool parts and accessories.Â Â Initially, eBay was used as their first ecommerce platform and it quickly reinforced their belief that there was a big market to be tapped and would justify the development of a website to be known as Mr Pool Man â&#x20AC;&#x201C; Australiaâ&#x20AC;&#x2122;s local pool shop. â&#x20AC;&#x153;Right from start we knew that we would need to introduce systems to minimise our workload and at the same time maximize

The Mr Poolman Team, Tomas, Natalie and Hardy Hintze our delivery capability. Same day dispatch with tracking on all orders was paramount,â&#x20AC;? said Tomas.Â The business operates on a totally paperless system from ordering to dispatch, stock control and cash control and utilises Australia Postâ&#x20AC;&#x2122;s unique tracking service, and currently integrating couriers such as DHL to increase customer satisfaction in regards to transit time locally and internationally. There is more to it than that of course.Â Using data analytics and a powerful customer data base system in conjunction with their social media platforms the business now communicates with over 40,000 customers across Australia and overseas with a weekly E-Newsletter. Meanwhile the retail shop at North Gosford has been relocated to a larger factory warehouse unit in Wyoming so that the 800 or so stock items can be increased to meet customer demand. â&#x20AC;&#x153;It all started with four or five orders a day being shipped and now we are shipping around 150 each day, â&#x20AC;&#x153;said Natalie Hintze. Orders have been coming in from around the world as well and this has shown that

there are opportunities to service a wider market. As Natalie Hintze said, â&#x20AC;&#x153;Having â&#x20AC;&#x2DC;conqueredâ&#x20AC;&#x2122; Australia we are now starting our international venture and are continuing to grow, so watch this spaceâ&#x20AC;?.

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BUSINESS BRIEFS

LendingPost opens Central Coast office

Rod Brown and Mitchell Atkins DUE TO AN unprecedented level of activity in the marketplace, LendingPost has established their first regional office on the Central Coast in the new Element building at Erina. The office is headed by Co-Founder Mitchell Atkins and Business Development Manager Rod Brown. “Our new Erina office will act as a hub for the existing team to service the growing demand for small business lending on the Central Coast,” said Mr Atkins. “The office is staffed by Central Coast

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locals. This means our clients benefit directly from our knowledge of the local business environment.” With their head office situated in Sydney, Mr Atkins said the office opening on the Central Coast is the first of a number of branch offices planned as LendingPost rolls out nationally over the next three years. “We’re aiming to build strong referral partnerships with our network across the Central Coast and Newcastle,” Rod says. “We work closely with partner clients to ensure they receive the highest level of personalised service, fantastic finance offerings and streamlined processes and systems.” In the last two months LendingPost has already seen over $20 million dollars in local transactions from Central Coast area alone. One scenario saw LendingPost working with a start-up from West Gosford in the health and fitness space. With limited funds available, they drew on the strong industry experience and solid business plan that the proprietor had in her corner to secure $40,000 in new equipment and fit-out funding in under 48 hours. “It’s this type of responsive action that is seeing us grow so rapidly,” Rod says. For more information on the new office see lendingpost.com.au or visit their new office at the Element building, Central Coast Highway, Erina. H&H Catering sells Wamberal Cafe H&H Catering have sold the Point Café located in the Wamberal Surf Club.

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New owners are Henry Xie and Grace Hou who have changed the name to Wamberal Oceanview Café & Functions and will maintain the same staff. H&H have owned the business for four years. They will be retaining the Avoca Beach Point Café and Point Café at the Japanese Gardens at East Gosford. Ben Purdue form Raine & Horne Commercial negotiated the sale. Logistics Networking Forum established One of the Central Coast’s leading manufacturing companies, Borg Manufacturing at Somersby was the setting for the inaugural meeting of the Central Coast Logistics Forum in early May. An initiative of Steve Rose from Forsythes Recruitment the Forum has been set up for like-minded people in the Central Coast logistics industry to come together. Its purpose is to provide a platform for Central Coast organisations involved in the transport and distribution and/or importing and exporting to meet on a bi-monthly basis and share their challenges, brainstorm solutions and develop positive relationships. Thirty-four attendees with representation from Belkin Ltd, Borg Manufacturing, Central Coast Manufacturing Connect, Central Coast NSW Chamber, Chamberlain Australia, Cheminova, Coleman, Department of Training Services, Garden City Plastics, Life Health Foods, McCain, Department of Industry & Science, Remondis, RDA Central Coast, Rohlig Australia, Talking Stones and Trendpac.

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BUSINESS BRIEFS

Council announces interim leadership team Central Coast Council has announced an Interim Leadership Team to deliver the newly merged Council’s plans for the Coast. Council’s Chief Executive Officer, Mr Rob Noble, said the new leadership team was created to best support the outlook and vision of the new Central Coast Council. “My vision is to build on the tradition of strong leadership of the two former Councils as we move to a new era for the Central Coast. I have chosen leaders who are customer-focused, collaborative, passionate and professional and can lead and support this Council and our community through this change creating

an organisation that cares about people, places and quality of life on the Central Coast,” said Mr Noble The new Executive Team for the Central Coast Council is: • Chief Financial Officer – Stephen Naven • Group Leader Customer and Community Relationships – Judy Jaeger • Group Leader Assets, Infrastructure and Business – Mike Dowling • Group Leader Environment and Planning – Scott Cox • Executive Manager People and Culture – Kellie Reeves

• Executive Manager Governance – Brian Glendenning • Executive Manger Transition and Business Performance – Janine McKenzie The eighth position, a Chief Information Officer, is yet to be appointed. Four senior staff have chosen to leave the organisation altogether, including Paul Anderson, former General Manager of Gosford City Council who has decided to pursue opportunities outside of the public sector and former Director of Planning and Governance Danielle Dickson

New owners for Telstra Store at Lake Haven

Lake Haven Telstra store team – Brandan Vidler far right Samzach Services Pty Ltd have purchased the Telstra Store at Lake Haven Shopping Centre. Owned by David Zacharia and David Sampaklis , Samzach Services Pty Ltd operates a number of Telstra retail stores across

the Central Coast, Hunter and Mid-North Coast employing over 100 people. Brandan Vidler has joined the team at Lake Haven as Sales Manager after working with Samzach Services as the Area Sales Manager of Central Coast, Newcastle and Hunter Business Centre’s for the past three years. Prior to that he managed the Telstra store at Taree and was instrumental in enhancing the store’s performance and customer experience. ‘With so many areas now able to receive the NBN, including Lake Haven, Charmhaven and Gorokan we are focusing on delivering information and helping people understand their options and get them switched-over,’ Mr Sampaklis and Mr Zacharia said.

‘Our Lake Haven team has undergone a tremendous amount of training and all members are across the latest information and consumer products with their number one aim is to make sure all customers are 100% satisfied.

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CENTRAL COAST BUSINESS REVIEW JULY 2016

PROPERT Y NEWS

East Gosford investment site with development potential sold

A local investor has paid $1.75 million for a multi tenanted 1,587.6 sqm site on the corner of Henry Parry Drive with 53 metre frontage and York Street, East Gosford with 57 metre frontage. The site comprises a car yard on the corner and other adjacent tenancies

and has development potential. It is the first time the property has been sold in 94 years. The sale was negotiated by Brad Rogers from LJ Hooker Commercial Central Coast and Steve Skipper from S Skipper & Associates.

North Wyong industrial now in local hands

A CENTRAL COAST business owner has acquired the vacant industrial site formerly occupied by BASF at 6 – 8 Donaldson Street, North Wyong The property, which was developed by Allied Colloids in the 1960s and subsequently acquired be CIBA Specialty Chemicals, now BASF, comprises 2 large industrial buildings; a warehouse of approximately 2,476 sqm with 2 storey office of 1,300 sqm and a manufacturing facility of 815 sqm on 20,230 sqm lot. Price paid was $3.5 million excluding GST. The property had been on the market since December 2015. Ty Blanch from LJ Hooker Commercial Central Coast negotiated the sale.

Get results! ADVERTISE YOUR PROPERTY IN CCBR For further information phone 4367 0733 or email info@ccbusinessreview.com.au CENTRAL COAST BUSINESS REVIEW JULY 2016

PROPERT Y NEWS

Proposal into Council for Toukley development

ATO approval not a walk in the park

Artists impression of Rustrum Pty Ltd development at Toukley TOUKLEY DEVELOPER, RUSTRUM Pty Ltd, has lodged a development application with Central Coast Council for Lakeside Gardens, a $60million 120 apartment waterfront residential apartment and retail project at Toukley. This follows the adoption in November 2015 by the former Wyong Council of a new Masterplan for the Key Iconic Development Site to promote design excellence and drive tourism and investment to the area. The Masterplan is for a ten storey mixed use residential and tourism development alongside an upgraded Toukley Gardens with impres-

sive lake views and improved foreshore accessibility. The development is designed to integrate with and revitalise the adjoining Toukley Gardens Park, which will be extended through to Rowland Terrace, thus providing new pedestrian and cycle access from Main Road to the Osbourne Park waterfront. Rustrum Pty Ltd held a design competition to attract high calibre and innovative proposals for their Toukley site and after viewing submissions from four leading architects, selected Newcastle firm, dwp|suters, as the winning designer.

The Hunter Central Coast Joint Regional Planning Panel has approved development of a building for the Australian Taxation Office on part of the former Gosford Primary School site. However, it was not all clear sailing for the developer with the JRPP having deferred the application at their May meeting following a marathon four hour session and then another marathon session at the end of June which saw 20 speakers against the proposal and two in favour. The approval was conditional on the developer, Canberra based Doma Group, providing an extra 13 car spaces in Baker Street for public use. In addition Doma would need to relocate an electricity kiosk closer to Mann Street to prevent a significant tree being knocked down to make way for it. JRPP Chairman, Garry Fielding, said that it was a very hard decision for the Panel and that he was well aware of the frustration of local residents who had been expecting a performing arts centre to be built on the site. “We feel it is most unfortunate that the very laudable planning intention for the site was to create a performing arts precinct for Gosford and the Central Coast. Unfortunately this was not carried into statutory planning and it is the statutory planning that this panel must consider,” he said.

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CENTRAL COAST BUSINESS REVIEW JULY 2016

PROPERT Y

COMMERCIAL AND INDUSTRIAL PROPERTY FOR SALE/LEASE

TUGGERAH - BRAND NEW RELEASE! QUALITY BUSINESS UNITS

Exclusive office & workspace units in Tuggerah Business Park close to M1 Motorway, Railway & Westfield. Sizes range 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

BERKELEY VALE - A BIGGER BUILDING & BETTER VALUE!

Approx 5416m2 site area, 2618m2 main building, 828m2 high pitched awning & weigh bridge area, 2 concrete hardstands, 288m2 internal offices, plenty of power, large high clearance roller doors, IN1 zoning. Adjoining property for sale comprising large industrial premises on approx 8969m2 of level site area. FOR SALE $2m + GST FOR LEASE $160k pa + GST

SOMERSBY - EXCELLENT WAREHOUSE FOR LEASE

Excellent high clearance warehouse perfectly positioned in the complex for truck access. Ground floor area approx 225m2 + well presented office area approx 50m2 with reverse cycle a/c, security system, lunch area + disabled bathroom & additional toilet. FOR LEASE $24,750pa net + GST

SOMERSBY - WAREHOUSE WITH OFFICE SPACE & SHOWROOM

Approx 300m2 high clearance warehouse with good height, approx. 6.9m in 120m2 space & lower clearance warehousing under the mezzanine offices. Large open plan office upstairs with 3 separate offices & ducted a/c. Downstairs s/room/ reception area, full bathroom & kitchen amenities & save on power with solar panels FOR LEASE $30,000 net pa + GST

SOMERSBY - READY TO BUILD ON INDUSTRIAL LAND Levelled ready to build on site in Somersby approx. 4634m2. High exposure corner position, all services are available & Council contributions have been paid. FOR SALE $800,000 + GST

LISAROW - FACTORY, WAREHOUSE, YARD

Freestanding industrial building with dual roller door access, offices & column free design. Good internal height for racking & storage, very easy area to work with. This site has approx 4,200m2 of additional land which is a tremendous asset. FOR LEASE $1,200 gross per week + GST

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.

FOUNTAINDALE AUCTION

69 CHIVERS ROAD, SOMERSBY FOR SALE/LEASE

Modern industrial facility 2,397m2, 637m2 of modern fitted out office, 1,383m2 high clearance warehouse and 377m2 mezz. storage, corner site of 4,819m2 heavy duty 3 phase power, minutes to Sydney/ Newcastle M1 Motorway.

CARNARVON ROAD INDUSTRIAL UNIT FOR LEASE

Last unit left in this complex of 8, pristine wall and floor finishes (almost food grade) in this recently refurbished premises. Unit 4 133m2 including small reception/office area $18,550.00 including outgoings + GST per annum.

WARNERVALE INDUSTRIAL UNIT – LAST ONE AVAILABLE FOR PURCHASE FOR SALE $363,636 + GST 200m2 in area, brand new concrete construction, secure complex, 1 minute from Sydney/Newcastle M1 Sparks Rd Interchange. Great truck access and on-site parking.

SHOP A/120 ERINA STREET, GOSFORD FOR LEASE

Last ground floor position at Star House available, 119m2 open plan with partitioned kitchen, new carpet, lighting, electrical, freshly painted and alarmed, ducted air conditioning and NBN ready. Great signage opportunities directly opposite Imperial Shopping Centre and next door to Australia Post.

WEST GOSFORD INDUSTRIAL LAND FOR SALE $495,000 + GST

A vacant industrial lot of 2041m2 approx. on the high side of Enterprise Close. DA being relodged for 906m2 warehouse plus 100m2 of office space. Zoned IN1 Industrial. Prices shown with * are inclusive of GST.

11 Ketch Close, Fountaindale Auction onsite 3pm Wednesday 20th July 2016 2,720sqm approx. warehouse with offices Site area 4,834 sqm approx. Offered currently monthly tenancy or VP Central to Sydney/Newcastle Under instructions from Receivers & Managers

WEST GOSFORD

SALE

Great investment opportunity. 144sqm Industrial unit, secure long term tenant with income of $18,344.16 + GST & outgoings. Consisting of office, factory and amenities with great road exposure.

LONG JETTY

LEASE

Approx. 850sqm in the heart of Long Jetty. Originally a squash court sporting facility featuring 4 x courts with viewing platform from 1st level, multiple amenities, favourable B2 zoning, the property benefits from a myriad of alternate uses. Onsite Parking. Available 1st November 2016.

SOMERSBY SALE

Excellent warehouse with quality construction, 807 sqm. Spotless complex of 5, only 8 years old and low maintenance cost. Fit-out includes reception, office, kitchenette, male and female toilets. High clearance roller door with automatic opening, 4 dedicated car spaces on title. Great neighbours.

4365 0645

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

WEST GOSFORD - EXCELLENT FREESTANDING WAREHOUSE

Approx 975m2 of quality freestanding warehouse in a battle axe location in Bowen Crescent. 2 roller doors, clearspan design, existing office accommodation & very workable & user friendly design. Less than 10 years old & available from 1st July. FOR LEASE $90,000pa net + GST

CHARMHAVEN

315m2 freestanding industrial shed with approx 300m2 concrete hardstand. Includes 45m2 office & mezzanine. Would be great as a fitness centre but would suit a multitude of businesses. FOR LEASE $42,000pa gross + GST

MORISSET - QUALITY OFFICE FIT OUT& WAREHOUSE

95m2 upstairs offices including boardroom, private office & 50m3 workstation. Ground level with reception, 2 offices, staff room & 215m2 high clearance factory/warehouse. 2 roller door accesses, 2 separate amenities & close to M1 Motorway. FOR SALE $520,000 + GST FOR LEASE $49,000 + GST

TUGGERAH - HARD TO FIND BUT AN EASY BUILD!

Rare as hen’s teeth, small industrial lot approx 2,363m2 nestled between quality, new-style developments. Zoned IN2 & benefitting from more flexibility with this land use category than others in the area (Also available with adjoining land creating a total potential site size of approx. 6,334m2). (*Current DA on site) PRICED TO SELL $401,710 + 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 JULY 2016

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

PROPERT Y NEWS

Somersby industrial land sold Karen Aubrey from LJ Hooker Commercial Central Coast reports the following Somersby industrial sales: Lot 29 Somersby Falls Road, Somersby, a cleared almost level 5,447 sqm lot on the corner of Myoora Road has sold for $700,000 plus GST. A Somersby company with plans to build and relocate is the buyer. Lot 28 Somersby Falls Road, a 5,095 sqm lot with gas easement running through the site leaving 3,336 sqm net land to build on. Buyer is a West Gosford company relocating. Both lots are fully serviced and all Council contributions paid. Lot 5 Sailfind Place, Somersby. A Sydney developer has paid $315,000 plus GST for a 3,147 sqm lot at the end of the cul-de-sac with the intention of developing factory unit thereon.

hardstand on a 2,513 sqm site at 12 Pavitt Crescent, North Wyong Industrial Estate. Price paid was $790,000 plus GST. Ty Blanch and Bernie Nash from LJ Hooker Commercial Central Coast negotiated the sale. Owner occupier buys Somersby unit An owner occupier has purchased Unit 9 of 144 sqm at 218 Wisemans Ferry Road, Somersby paying $300,000 plus GST. The unit is part of a 37 unit complex built about 8 years ago. Karen Aubrey from L J Hooker Commercial Central Coast negotiated the sale.

Leasings Toukley office leased Octec Limited – Jobs Australia, have leased a 275 sqm office space at 246 Main Road, Toukley The office is at street level with basement car park and full office fit-out in place. Terms of lease are 4 years with 3 year option at a rental of $45,000 per annum including Outgoings plus GST. Ben Purdue from Raine & Horne Commercial negotiated the lease.

North Wyong factory for owner buyer

Erina office leased BBX Management Pty Ltd has leased a 154 sqm ground level office space at 4 Barralong Road, Erina Terms of lease are 5 years with 5 year option at a rental of $29,000 per annum including Outgoings and including GST. Chris Watson from Chapman & Frazer Real Estate negotiated the lease.

A local business owner has purchased a vacant 730 sqm factory building with internal 120 sqm office and 1,640 sqm

Physiotherapists lease at Wyoming A physiotherapist has leased Shop 3 a 80 sqm commercial space at 470 Pacific Highway, Wyoming (near the 5 Ways roundabout). Terms of lease are 5 years with 5 year option at a rental of $28,000 per annum including Outgoings plus GST. Chris Watson from Chapman & Frazer Real Estate negotiated the lease.

FOR SALE

SMSF investor buys West Gosford showroom / warehouse on 8.5% return

A Sydney based SMSF has paid $2.7 million (GST not applicable) for a showroom / warehouse at 11 Bowen Crescent, West Gosford. The property is leased to Newcastle based Varley Group on a 3 lease commencing at $230,000 per annum net and 3 x 3 year options showing a return. It comprises a 2,500 sqm warehouse building with showroom, offices and amenities at the front on a 4,186 sqm block. The sale was negotiated by Andrew Dunn from Raine & Horne Commercial Erina

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STRATA OFFICE / WAREHOUSE – ERINA UNIT 1/13 BONNAL ROAD ERINA $625,000 + GST 220m2 of 1st Grade Carpeted, Partitioned, AirConditioned Office Space spread between two levels plus an additional 150m2 Warehouse at the rear with separate Roller Shutter Access. Excellent amenities plus a kitchen and additional storage mezzanine with great on-site parking. An extremely versatile Unit with Vacant Possession available at settlement.

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Gym leases at Tuggerah Business Park Alinta Gymnastics has leased a 1,022 sqm warehouse space at Unit D, 2 Reliance Drive, Tuggerah Business Park. Terms of lease are 5 months plus 5 year option at a rental of $85,000 per annum plus Outgoings and GST. Ty Blanch and Brad Rogers from L J Hooker Commercial Central Coast negotiated the lease Engineering consultant leases at Erina An engineering consultant has leased Suite 6 of 72 sqm at 220 The Entrance Road, Erina. Terms of lease are 15 months plus a further 12 month option at a rental of $20,000 per annum including outgoings plus GST. Brad Rogers from L J Hooker Commercial Central Coast negotiated the lease. Builder leases at Erina Mackstar Build has leased Unit 3 of 160sqm a first floor office at 14 Barralong Road, Erina. Terms of lease are 1 year with 1 year option at a rental of $14,000 per annum plus Outgoings and GST Chris Watson from Chapman & Frazer Real Estate negotiated the lease.

Unit 16/10 Pioneer Ave, Tuggerah Business Park

CENTRAL COAST BUSINESS REVIEW JULY 2016

RESIDENTIAL PRESTIGE PROPERT Y REPORT

Ettalong beachfront for Sydney family The property: 234 The Esplanade, Umina Beach. This 5-bedroom, 4-bathroom beachfront home on a 727 sqm block has sweeping 180 degree Brisbane Water entrance and ocean views. It features expansive open-plan living, dining and kitchen adjoining a huge beachfront patio ideal for entertaining. There is also a very large upstairs living room which enjoys the same 180 degree views which are a major feature throughout the home. A parents/owners retreat includes main bedroom with 'his and hers' walk-in robe and dual bathroom. The price: $3.2 million The buyer: A company director and his wife from Sydney relocating from the North West Corridor of Sydney for their permanent residence. The sale: The property sold in just 18 days using PRD Nationwide’s specialised internet prestige property marketing program. The agent: Stuart Gan from PRD Nationwide Ettalong Beach who said, “$3.2 million represents a new record price for Umina and Ettalong Beach. It exceeds the previous highest beachfront sale which was set by in May 2015 at $2.75m by this agency. It is interesting to see that finally, the Umina/Ettalong area beachfronts have broken the $3m mark for the first time and are adjusting toward to levels of Pearl Beach which has lead the way with the highest prices on the Central Coast over 20 years.

Weekends by the seaside

The property: 57 Ocean View Drive, Wamberal. This 5 bedroom, 3 bathroom cottage style home is situated on a large 1,012 sqm beachfront block with expansive north south ocean views.

A development approval / construction certificate for a 600 sqm luxury residence is in place for this property. The price: $3.4 million The buyer: a Sydney company director has

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purchased the property as a family weekender. The sale: The property was on the market for six months and sold by private treaty The agent: Tim Andrews from L J Hooker Terrigal.

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

BUSINESS TIPS

Where disrespect is shown to management ADVICE in the workplace – no one wins! MPLOYERS

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By Warwick Ryan, Partner, SWAAB Attorneys

ck Ryan ONE OF THE purposes of someone formcom.au ing a company is to enable them to trade

to the extent of the resources of that com-

s pany, with the intention being to allow um Building, people to start an enterprise - be innovative RINA NSW 2250

- and if it doesn’t work to be able to move onto their next venture. It has been proven time and time, world-over that this encourages innovation, the commencement of businesses and entrepreneurs. Increasingly, the courts are looking to directors of companies personally for the costs associated with employing business. For example, under the Workers

Compensation and Payroll Tax Legislation, directors can be held liable for the payment of unpaid payroll tax and even workers compensation premiums. Fortunately, WorkCover has been relatively slow to pursue directors where companies have (often through no fault of their own) got into difficulty and been unable to pay their premiums. Although there are already mechanisms in place to deter directors from being reckless in non-compliance (awards and National Employment Standards), the Fair Work Commission has decided that it can bypass the company and seek the payment of wages from a director - personally. This undermines 200 years of company law. Currently, employees, the inspector or unions can pursue directors for fines under the Civil Remedy Provisions of the Fair Work Act. These fines can be as much as $10,800 (for an individual) and $54,000 (for a corporation) and these penalties can be ordered to the employees themselves. It is now common place for directors and even senior employees within businesses

to be named as defendants in prosecutions by the Fair Work Ombudsman or in claims by employees for alleged breaches of the award. This is starting to result in direct penalties against them as individuals (not to mention the legal fees they have incurred). Unfortunately all of this highlights the importance of thoroughly understanding the implications of the award on your business - even when you are paying well above award wages, and because of the compliance questions around payroll tax and workers compensation it is even more important to understand when workers compensation premiums and payroll tax are payable especially in relation to the engagement of “improperly classified contractors”. The company structure was designed to encourage entrepreneurship and economic growth, but unfortunately it is being attacked systematically by incredibly complex legislation which discourages people from “having a go” and starting a business for fear they may be held personally liable

Protecting your business against employee theft

By Nathan Corrigan, Account Manager, Insurance House Central Coast When you own your own business you can lose sight of the fact that your employees may not feel so passionately about it as you. For them it may just be “a job”, a way to pay their mortgage and bills and nothing more. Some employees may have personal financial issues, while others may be opportunists, using the company credit card to splurge meals and write them off as client lunches. Such is human nature, and sadly this is why even a well-run business can be at risk of employee theft. Employee theft is a real problem in Australia, with fraud costing Australian businesses $4-5 billion each year. Luckily there are some simple steps you can take as the business owner to minimise your risk of theft.

MORALE Making staff feel valued and instilling a sense of purpose and collaboration is probably the single best thing a business owner can do to keep staff happy, motivated and disinclined to suspect behaviour. If your people feel passionately about the success of your business they are less likely to steal from it. EXPENSE PROCEDURES: Where employees can claim back expenses such as client lunches, business accommodation, petrol or mileage allowances, ensure you have robust reporting system where each expense must be itemised in detail. It's worth setting limits on how much they can spend on certain items before it is escalated to someone more senior for approval. ACCOUNTING SYSTEMS: Don’t make a single person responsible for accounts payable, accounts receivable, cash or banking, and ensure there is a system whereby someone else can cross check the books, but has no power to amend records. Conduct regular inventory checks and have your books audited regularly, as well ensuring you personally review monthly financial statements.

CODE OF CONDUCT: Establish a written code of conduct outlining expected behaviours and provide to employees at commencement of employment and annually thereafter. Employees should sign that it has been provided, they have read it, and agree to comply. LEAD BY EXAMPLE: If employees can’t do it, then neither should you. Don’t take home the office stationery if you have expressly forbidden them to do so. If your company makes a product that employees would like to have, consider an employee discount or quarterly staff sale or giveaway of the product. This is a great way from discouraging goods to exit via the back door. INSURANCE: Even the best laid plans can go awry, so it's worthwhile to consider comprehensive crime cover as part of your arsenal to combat losses from employee theft. Cover can include loss of money, securities, or other assets resulting from employee theft, computer fraud, forgery, loss of employee benefit plan assets and more. Contact Nathan Corrigan at Insurance House Central Coast on 1300 305 834, he can assist in helping you and your business obtain the correct insurance cover.

CENTRAL COAST BUSINESS REVIEW JULY 2016

BUSINESS TIPS

7 Deadly Sins of small business

By Paul Gidley

SMALL BUSINESS IS a tough gig whichever way you cut it. Competition is fierce, margins are slim, loyal clientele hard to find and harder to keep, red tape is burdensome, and good staff hard to find. That’s why it’s important to get some of the basics right to stay in the game. Summarised below are seven key areas I have identified over the 25 years I’ve worked with distressed businesses: 1 Undercapitalisation Unfortunately for many SMEs, capital reserves typically don’t go beyond the $1 or $2 capital contribution on initial startup. It tends stay this way throughout the life of the business. As the cash cycle is always playing catch up, a significant event such as a major bad debt or unforeseen sunk cost can render the business insolvent overnight as there are no capital reserves to call upon – resulting in imminent failure.

2 Mismanagement The focal point of management is the efficient and effective use of the business’s scarce or limited resources. In an ideal world, each and every resource invested into your business should return a net gain, and that includes every single thing that is used in your business to deliver your product or service to your customer, both tangible and intangible. One poor management decision could lead to lights out. 3 No planning How often do you hear you need to plan? Most don’t do it. There needs to be purpose to your business; a plan gives you purpose. It can be as simple as a quarterly cash flow budget or a more sophisticated business operational plan that includes specific, integrated plans for each core business area depending on size of business. Those not planning do so at their peril. 4 Blinded by success Success needs to be managed carefully as with all aspect of business. The Good times tend to be there to get us through the bad times and not to be wasted. I have no doubt that some in the mining and related services sector are wishing today they managed the boom times a little better. Success can lead to over expansion, over spending,

investments in non-core activities, over commitment to mention a few outcomes, this can lead to financial distress. 5 Moving away from strengths Identify what your business strength is and use it to compete. Stay focused on your strength and don’t move too far away from core competitive activities; “stick to your knitting” so to speak. Do not venture into areas you don’t have the skills or experience to be competitive. 6 Not heeding advice Advisers are there for good reason; get a good one and they can be the beginning of a long, happy and rewarding relationship. Not all accountants are business advisers. Word of mouth is a good way to fish out the good advisers. And when you find a good adviser – LISTEN! 7 Numbers It’s imperative to maintain timely and complete accounts. That said, when reading reports, it’s even more important to understand what the numbers mean and how they relate to one another. The accounting data is fundamental to good management decision making. Not understanding the numbers can lead to disastrous decisions being made.

THE WARWICK RYAN EMPLOYMENT LAW SEMINAR SERIES He’s back! Well known Industrial Relations lawyer Warwick Ryan will conduct a series of Seminars in the coming months and into 2017 for subscribers and friends of CCBR. Warwick Ryan is the lead Employment Partner at Swaab Attorneys. Locally based on the Central Coast, he is a recognised specialist in employment law and workplace relations He has been advising businesses on the Central Coast for the last 20 years. 2016 Series Programme

'Managing ill and injured workers'

'Strategies for terminating underperforming employees' Anyone in business knows the challenges of managing staff who are underperforming. Warwick will provide practical guidance so you can avoid the worst mistakes, move forward and build a better team.

With workers compensation, work health and safety and discrimination laws, what hope does a business have when dealing with an ill or injured worker in the workplace? All is not lost, there are very effective strategies for managing such workers. Warwick can step you through the process to build a fit, healthy and productive workforce.

Date: 17 August, 2016 – Time: 7.30am – 9.30am Place: Gosford Golf Club Cost: $55.00 including GST per person

Date: Time: Cost:

To book email edgaradams@ccbusinessreview.com.au CENTRAL COAST BUSINESS REVIEW JULY 2016

19 October 2016 7.30am – 9.30 am Place: Gosford Golf Club $55.00 including GST per person

EVENTS

Central Coast Mariners Centre of Excellence the venue for CCBR Cocktail Evening CCBRâ&#x20AC;&#x2122;S WINTER COCKTAIL Evening for Subscribers and Advertisers was held at the offices of North Building and Construction in the recently completed Mariners Centre of Excellence Building at Tuggerah in mid-June. Over 40 guests had the opportunity to look over Northâ&#x20AC;&#x2122;s new office on the top floor and see the view a view of Tuggerah and Wyong never seen before along with along with the Central Coast Mariners training facilities.

Photographs courtesy of Sharp Design Solutions Debra Smith (Mariners Medical), Donna Ham (Aubrey Brown Lawyers), Anna Cruckshank (Aubrey Brown Lawyers) and Melanie Cranney (Mariners Medical)

Nathan Corrigan (Insurance House) and Josh Sheather (North)

Kevin Gregory (Landin Realty), Warren Garth (CATS Accountants), Paul Gidley (Shaw Gidley)

Tim Cornish (North), Keryn and Mitchell Walsh (Working Commercial) and Matthew Cook (North)

Ann and Paul Freeman (E-Bisprint) and Darren Hutton (Insurance House)

Ray Millar (North), Andrew Wilson (Aubrey Brown Lawyers), Shaun Mielekamp (Central Coast Mariners) and Anna Cruckshank (Aubrey Brown Lawyers)

Craig Sinclair (Dunnet Properties), Cindy Kirksmith (Kirksmith Solutions), Edgar Adams (CCBR), Retina Serrafis (Dunnet Properties)

Kerry Garth (CATS Accountants) and Katy Gregory (Landin Realty) CENTRAL COAST BUSINESS REVIEW JULY 2016

FUNNY BUSINESS

A BRILLIANT YOUNG boy was applying for a job with the railways. The interviewer asked him “Do you know how to use the equipment?”“Yes”, the boy replied. “Then what would you do if you realised that two trains, one from this station and one from the next were going to crash because they were on the same track?” The young applicant thought and replied “I’d press the button to change the points without hesitation.” “What if the button was frozen and wouldn’t work?” “I’d run outside and pull the lever to change the points manually” said the boy. “And if the lever was broken?” “I’d get on the phone to the next station and tell them to change the points,” he replied. “And if the phone was broken and needed an electrician to fix it?” The boy thought about that one. “I’d run into town and get my uncle” “Is your uncle an electrician?” “No, but he’s never seen a train crash before!” Bill Gates wanted to look good and impress everyone with his success. He decided to measure the accomplishments of Microsoft against General Motors. The comparison went like this: If automotive technology had kept pace with computer technology over the past few decades, you would now be driving a V-32 instead of a V-8, and it would have a top speed of 10,000 miles per hour. Or you could have an economy car that weighs 30 pounds and gets a thousand miles to a gallon of gas. In either case the sticker price of a new car would be less than $50. In response to all this goading, GM responded: “Yes, but would you really want to drive a car that crashes twice a day?”

An efficiency expert concluded his lecture with a note of caution. “Don’t try these techniques at home.” “Why not?” asked somebody from the audience. “I watched my wife’s routine at breakfast for years,” the expert explained. “She made lots of trips between the fridge, stove, table and cabinets, often carrying a single item at a time. One day I told her, “You’re wasting too much time. Why don’t you try carrying several things at once?” “Did it save time?” the guy in the audience asked. “Actually, yes,” replied the expert. “It used to take her 20 minutes to make breakfast. Now I do it in ten.” There was an engineer, manager and programmer driving down a steep mountain road. The brakes failed and the car careened down the road out of control. Half way down the driver managed to stop the car by running it against the embank-

NEW COROLLA HYBRID HAS ARRIVED

ment narrowing avoiding going over a cliff. They all got out, shaken by their narrow escape from death, but otherwise unharmed. The manager said “To fix this problem we need to organize a committee, have meetings, and through a process of continuous improvement, develop a solution.” The engineer said “No that would take too long, and besides that method never worked before. I have my trusty pen knife here and will take apart the brake system, isolate the problem and correct it.” The programmer said “I think your both wrong! I think we should all push the car back up the hill and see if it happens again.”

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