AusBiz Magazine – January-February 2022 by publishingbychelle

NEWS | charity | finance | Property | Business

14. WOMEN IN BUSINESS Although still a minority in Australia, more women than ever are taking the leap and being their own boss.

P.8 Q&A with socks for support p.10 pink diamond supply chain P.22 wall st. rank investing P.24 the regional property boom p.28 Indigenous Australia P.32 protecting our precious gliders p.36 2022 Innovations in ag

AUSBIZ NEWS

CASH IS KING AND WE WANT IT BACK Furthr – an automatic cashback app – has partnered with major Australian online retail brand The Iconic. The partnership means customers of The Iconic will receive cashback automatically when they purchase their shopping. The app launched at the beginning of 2021, and co-founder Nathalie Mann recognises the partnership with The Iconic as a breakthrough business moment. “The Iconic is one of the biggest online retailers in Australia and we are thrilled to add it to our platform. Every time you shop with your nominated card, you receive 5 per cent back from our partners – it is a simple proposition that adds up.” Furthr promises no flash sales, no expiring offers, and no complicated clauses. Your loyalty is rewarded with cashback credited to your linked card each time you spend with a Furthr partner. Furthr already has an ecosystem of partners including Adore Beauty, LVLY – the flower and gift delivery service – and SEND, the grocery delivery service. Furthr is designed for a seamless cashback processes where no coupons or codes are required. By simply adding their Visa or Mastercard to Furthr, consumers will earn cashback every time a spend with partners occurs. Furthr’s growing portfolio is a good sign cashback concepts are being adopted by Australians.

IT’S BEEN A DIFFICULT TIME FOR SAVING A study by Credit24, a leading supplier of short- and medium-terms loans, has revealed that more than a quarter of Australians don’t have adequate financial reserves. Of those Australians questioned, 27 per cent estimate their savings would last less than three months. This research reveals that after considering monthly expenses such as food and grocery expenditure, mobile phone costs and utilities etc, nearly half of respondents have little or no money left each month. Only 6 per cent of respondents indicated they were left with a large amount of financial reserves. If the participants were to lose their main source of income, 13 per cent of Australians indicated their savings would last for a period of 6 months, and 22 per cent said more than 12 months. According to the study, male participants in Australia were more likely than female participants to save money every month where possible. A desire to do whatever they want – such as travel, purchase goods and essentials, and so on – was the most common reason Australians gave for being motivated about their financial future. When it comes to Australians’ borrowing habits, 60 per cent have not borrowed any money in the past year, while 20 per cent borrowed from banks, 13 per cent from parents and 6 per cent from friends.

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AUSBIZ NEWS

AGRICULTURE IS SET FOR A RECORD YEAR – AND BIOSECURITY IS KEY This financial year the Australian agricultural industry is forecast to reach $78 billion in value, according to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). The news has been welcomed by the industry, although Animal Health Australia (AHA) and Plant Health Australia (PHA) remain vigilant, as there are animal and plant diseases on the Australian doorstep that could derail these record-breaking figures. AHA CEO Kathleen Plowman says, “even with a highly effective biosecurity system, there is still a risk that new pests and diseases will enter the country. A large, multi-state foot and mouth disease outbreak in Australia could cost an estimated $5 billion per year until its eradication.” The importance of maintaining biosecurity management practices is highlighted through the Commonwealth Biosecurity 2030 Roadmap. Both AHA and PHA improve national biosecurity outcomes by joining the necessary stakeholder forces of experience and knowledge. “Biosecurity equals food security. Without a strong biosecurity system, our economy and our Australian way of life will suffer and diminish,” says Kathleen. When considering the impact of biosecurity, PHA insists that the return on investment lies in prevention rather than cure – especially given the difficult conditions Australian farmers have faced recently, including droughts, plagues, fires and floods.

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AUSBIZ NEWS

THE PECKING ORDER Lucia Regolin has spent most of her university life studying the behavioural patterns of young chicks at the University of Padova in Italy. Under the supervision of her two professors, she wanted to discover more about the species most exploited by humans and, how this research could positively impact on welfare issues. From her research, Lucia discovered that chickens understand social hierarchies within a coop. She explained that the ‘pecking order’ behaviour is a very real concept. The birds that Lucia researched exhibited an ability to understand the rank or social hierarchy of birds in the same coop after experiencing interactions amongst one other. “The birds would not challenge an individual who has defeated another individual known to be higher than themselves in the social hierarchy,” says Lucia. “In general, higher-ranking birds tend to perch higher up, but it is likely to depend on the safety of the roost – so higher-ranking birds would preferably perch high off the ground but not exposed to predators.” Her research also demonstrated an advanced memory capacity among chicks. Lucia said, “Five-day old chicks can remember an object for several minutes and recall its spatial location and some of its features. If baby chicks have such incredible abilities, I would expect adult chickens to be very good at distinguishing and remembering situations for much longer time.” Similar research conducted by Christine Nicol, Professor of Animal Welfare at the Royal Veterinary College reported, “Hens respond with increased alertness, decreased preening behaviour and a reduction in eye temperature. And with increased heart rate and maternal vocalization. The pronounced and specific reaction observed indicates that adult female birds possess at least one of the essential underpinning attributes of empathy.” Among memory capacity, understanding social hierarchy and feeling elements of empathy, Lucia’s research was able to prove basic math abilities amongst the chicks. “I showed that chicks can characterise separate objects – food vs social objects, and that they have a sense of numbers and can even do some basic math, for example, 1 + 1 + 1 + 1 is more than 1 + 1; but 1 + 1 + 1 + 1 - 2 is less than 1 + 1 + 1,” said Lucia. The elements of Lucia’s research aim to increase an awareness of welfare issues for the chicken industry. The research highlights the birds need a positive social environment to truly flourish and be healthy, not just a cage-free environment. Lucia says, “Even in free range conditions we should be always careful before judging what is good or bad for the animal, as long as there are human-imposed constraints.”

JAN/FEB 2022

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POSITION PARTNERS

Technology adoption supports responsible mining for MACA Founded in Western Australia in 2002, MACA is an ASX-listed company that offers end-to-end contracting services across the mining, infrastructure and construction sectors throughout Australia and overseas. A values-led work ethic, a ‘can-do’ approach, and agile operations are what drives the company in its approach to projects and its selection of partners, explains Technical Services Manager Shane Clark. “People First is a guiding principle at MACA in everything we do, with a focus on responsible, sustainable mining. As such, we look for partners that share our values and care about giving back to the community. It’s not only about profit.” Responsible for the mining group’s operational technology, estimating and engineering, Shane researched the vendors and technologies available that would offer maximum productivity. With an initial focus on standardising

work with us towards mutual outcomes and the technology we want to embed in our business. “In contracting, our wheel changes daily, and we need a supplier that can be flexible around our evolving needs. Some of the monolith technology suppliers can’t operate that way, you have to conform to their processes if you want to buy product from them, and that doesn’t work for us.” Position Partners’ experience and product range for civil applications has also been advantageous for MACA, as the company delivers civil services in parallel to its mining operations. “That is another reason for choosing a supplier that can offer more flexibility and experience in their product and service offering, as most of the larger vendors either specialise in civil, or mining, not both,” Shane says. A supplier with local operations in WA was also critical. “I certainly experienced

the high precision systems, he concluded that Position Partners offered the widest selection and greatest flexibility when it came to on-boarding equipment. “Our operations are complex, but our procurement doesn’t have to be,” Shane says. “I’d rather have one supplier that can

frustrations trying to get support out of South Australia or Queensland with other vendors, so we were never going to select a supplier that didn’t have strong local support capabilities,” Shane adds. Now that MACA’s technology adoption is strategically focused on operational

efficiency, Shane says he takes a collaborative approach to on-boarding new solutions. “Generally, I have a solution in mind or a problem I want to solve as part of a tender,” he says. “I approach most things from an estimating perspective, getting into the detail of what a client requires for their specific project and then carving an offering out of that.” Sometimes Position Partners also puts forward upcoming solutions that are in the pipeline or very new to market. “We ask MACA for their wish list, including improvements or features on an existing platform, things that aren’t necessary or not quite right, or an entirely new technology,” says Bernard Cecchele, a Founder and Key Account Manager at Position Partners. “We then work to source and customise solutions to suit.” MACA’s approach to on-boarding technology is to be an early adopter of new solutions to market where there is potential for productivity, safety and/or efficiency gains. Keeping its workforce safe is paramount in all that MACA does. The company is currently exploring retrofit electrification of equipment with global business investment conglomerate Mitsui & Co. Ltd, with safety at the forefront. “When you’re entering a new frontier and pushing the limits of technology with alternative fuel sources, I’d rather have that tested on an autonomous vehicle without a person inside that machine,” Shane says. “We are committed to being leading edge in our approach to projects and lowering our impact to the environment, but it can never come at the expense of safety for our people.” JAN/FEB 2022

Q&A

THE CHARITY KEEPING PEOPLE WARM At just eight years old, Benjy Orwin started a sock charity. His mission was simple: help others. Benjy could never have imagined how big an impact he would soon make. Collecting socks and donating them to those in need is continually one of the greatest highlights in Benjy’s life. Benjy felt that socks are a staple clothing item and that everyone should have access to warm clothes, especially during cold winter nights. And so Socks 4 Support was started, and young Benjy has been admired throughout media outlets the country over, for his big heart and impact on others. WHERE AND WHEN DID SOCKS 4 SUPPORT START? I was walking home on a cold Friday night wearing a beanie and jacket and I was freezing. I thought to myself, how are the people who don’t have warm clothes feeling? You see, my family and I were huddled in our woolly jackets and beanies, trying to keep warm. I asked my parents why. They told me: it’s sad, because these people are freezing outside and there aren’t many people who try and help them. When I heard this, I decided that I wanted to help those people. I decided to collect socks because I felt that they are a really important item of clothing. However, not many people think socks are important enough to donate. WHAT SORT OF SOCKS DO YOU ACCEPT AS DONATIONS? I accept both new and second-hand pairs of socks, but second-hand pairs have to be in good condition.

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I don’t exactly know anything else about them other than they’re warm and comfy to wear.

The socks also have to be paired, preferably with a matching sock. WHERE SHOULD PEOPLE GO IF THEY WANT TO DONATE? People can send me an email at donateyoursocks@gmail.com and I can tell them where to send the socks. I also have a box at MP David Southwick’s office. People can also follow me on my Instagram page and see what I do with the socks. I want to start a Socks 4 Support website but I haven’t made it yet. WHAT’S YOUR FAVOURITE PAIR OF SOCKS THAT YOU OWN? I think my favourite pair that I own is a greyish pair of socks with blue stripes.

EIGHT YEARS OF AGE IS SO YOUNG TO START A CHARITY, DID YOU EVER HAVE ANY DOUBT ABOUT WHETHER YOU COULD DO IT? I could tell that people were doubtful about Socks 4 Support. When I held my first talk at the school assembly I announced that I had a goal of 5000 pairs. At the time, I had a collection of 21 pairs. I was determined to prove everyone wrong. By the end of that year, I had collected 5026 pairs of socks, and right now I am sitting on around 25,886 pairs of socks over a period of four years. WHAT HAVE BEEN SOME LESSONS YOU’VE LEARNED ALONG THE WAY? I’ve learned that you can accomplish anything when you set your mind on something. When I started Socks 4 Support, I had no idea that I would ever be able to get on to things like the radio or the TV. I think another important thing I’ve learned is that you have to dedicate yourself to your charity or project, as you’ll never get anywhere if you don’t put in the time and effort. And one last thing, age does not make a difference to success, only hard work has that kind of important impact.

Q&A

WHAT WAS THE MOMENT THAT YOU KNEW YOU WERE MAKING A REAL DIFFERENCE IN PEOPLE’S LIVES? I realised the full extent of what I was doing when people started asking me for socks, rather than me contacting them. It was at this moment I realised it was something people needed, instead of simply a project I was doing to help out. Also, when I was nine years old I was lucky to go into a shanty town in South Africa and deliver socks to really poor adults and children in person. Seeing their appreciation made me even more determined to keep on collecting socks for as long as I can. The feeling of making other people happy when I give them socks is the best feeling ever.

HOW DID YOU FEEL ABOUT THE RESPONSE YOU RECEIVED FROM WRITING TO THE QUEEN AND PRINCE WILLIAM? I was shocked and excited to receive two letters from the royal family. One was from Buckingham Palace and the other from Kensington Palace. Even though neither of them could help me because of their policy not to endorse individual projects, it was still incredible to receive a reply in the first place! HOW DID SOCKS 4 SUPPORT PARTNER WITH SOXY BEAST? In my first year of Socks 4 Support, I spoke to a couple of radio stations. While guest speaking, a man named Giuliano contacted me. He asked if he could donate socks and give me a tour of his sock company – I was amazed to be contacted by a sock manufacturer. At the time, no one had heard of me or Socks 4 Support outside of my school. Giuliano from SoxyBeast held a factory tour where I learned how socks are made. Giuliano then donated a box of 500 pairs, it was delightful and we now stay in touch. Since the tour, he’s been really helpful in donating socks every year. Giuliano at SoxyBeast has been amazing in supporting me.

WHEN YOU FINISH SCHOOL, WHAT CAN YOU SEE YOURSELF DOING BOTH PERSONALLY AND WITH SOCKS 4 SUPPORT? I haven’t thought about what I want to do with Socks 4 Support as I get older. I’ll probably keep on doing whatever I can to help those in need. Job wise, I’ve always wanted to be an archaeologist. Who knows, maybe I’ll find some old pairs of socks in some Egyptian tomb somewhere! WHAT’S THE NEXT BIG MOVE FOR SOCKS 4 SUPPORT? I have been planning to do a small event with my school where we will be packing around 1000 pairs of socks for the festive season! Next year, I also hope to use some of the money that I won from the Edstart Achievement Award to travel interstate and overseas and spread the word about Socks 4 Support. The more people who know about it, the more people can donate socks and the more people I can help.

I would love to get on a talk show and bring my charity to the attention of others on a more global level. WHERE DO YOU THINK THE LOVE FOR HELPING OTHERS CAME FROM? My grandparents are heavily involved in charity work. My grandmother was the one who took me to the shanty town in South Africa to donate with another organisation. I think I must have inherited the love and drive to help others from them.

WHAT’S YOUR OPINION ON WHERE THE WORLD IS HEADED? Honestly, I don’t know. I believe that my generation has a big responsibility to change what we are doing in regard to climate change. We have to listen to what those in the know are telling us and do what we can to prevent further damage to our planet. In regard to COVID, I think that it should start to disappear once everyone gets vaccinated. We are lucky to have incredible developments in medicine that has allowed for a vaccine to be available relatively early on as opposed to other pandemics.

JAN/FEB 2022

IN THE PINK Since WA’s Argyle Mine closed in 2020, the value of pink diamonds has sky rocketed. Here Anna Cisecki, Executive Director of Australian Diamond Portfolio, explains why.

Approximately 95 per cent of the world’s pink diamonds were produced at the Argyle Mine in Western Australia. Since its closure in 2020, the price of pink diamonds is rapidly increasing. Anna Cisecki from the Australian Pink Diamond Portfolio says the Australian mine produced the highest quality pink diamonds in the world. Investors are rapidly recognising this. Pink diamonds have displayed value increases every year without fail. Since the Argyle Mine closure, there’s less supply and greater demand.

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WHAT CAUSES THE COLOUR VARIATION IN PINK DIAMONDS? Pink diamonds have a certain mythical allure in some ways. Unlike with other coloured diamonds, to date, we still don’t know specifically what causes their colour. Natural diamonds are formed deep within the earth when carbon is exposed to enormous heat and pressure. In the case of other coloured diamonds, if traces of another element are present, you get a coloured diamond – for example,

traces of boron will result in a blue diamond, and traces of nitrogen will result in a yellow diamond. With pinks, however, there are no other trace elements; rather, it’s a twist in the lattice structure caused by an unknown fluke of nature.

WHAT ARE YOUR CONCERNS REGARDING THE ARGYLE MINE CLOSURE IN 2020? The closure of the iconic Argyle Diamond Mine is in essence the end

MINING

of an era in the diamond world. It’s a geological masterpiece, a one-off that won’t be repeated ever again. Most of us in the industry feel pretty special to have been involved in its story, as it were. That said, even though the mine has closed, its story will not just live on, but thrive in the years to come, just like the names of history’s most famous artists – demand for their work lives on long after they themselves are gone.

HAS THE CLOSURE OF THE MINE BENEFITED YOU IN ANY WAY? Given that the Argyle Mine represented 95 per cent of the global supply of new pink diamonds each year, its closure has profound implications for investors. They were rare to begin with, but that scarcity has gone to a whole new level now, with the production of pink diamonds essentially coming to a complete halt going forward. So with no new supply coming and growing demand, prices are being driven up significantly and we foresee a pretty strong bull run on pink diamonds for the decade to come, which will of course mean that we expect trade to continue booming.

IT’S BEEN SOME TIME SINCE THE CLOSURE, CAN YOU EXPLAIN HOW THIS HAS HAD AN IMPACT ON THE PINK DIAMOND TRADE? In terms of the closure of the mine last year, we’re definitely seeing a sense of ‘fear of missing out’, as it were. Demand was already strong leading up to the closure, but since the announcement that the mine had ceased operating, we’ve seen an almost 50 per cent increase in demand, and this is being seen across the industry. With no new pink diamonds coming onto the market in the near future, people are becoming very motivated to buy now before the chance to own one of these unique assets is gone forever. With growing demand and finite

PRETTY IN PINK: NO ONE KNOWS WHAT CAUSES SOME DIAMONDS TO BE PINK. LEFT: ANNA CISECKI COUNTS HERSELF LUCKY TO BE INVOLVED IN THE ARGYLE MINE STORY.

supply, the price of pink diamonds has risen very strongly and has outperformed almost all other asset classes, including shares, property and managed funds. We’ve seen an average 30 per cent growth overall across all categories of investment pinks, with the top categories of pink diamonds seeing more than 40 per cent price growth since the Argyle Mine ceased production.

CAN YOU PREDICT WHEN OTHER MINES MIGHT RUN OUT OF SUPPLY AS WELL? While occasional pink diamonds can be found in other mines (in Brazil, Russia and India, for example), there is no other steady supply of pinks in the entire world. The Argyle Mine was unmatched in the sheer quantity and quality of the pink diamonds it produced over the years. So even though other diamond mines might be maintaining or even increasing production, they aren’t producing pink diamonds – especially of the quality Argyle is known for – in any great volume at all. As such, the implications for investment are significant. Market fundamentals dictate that when the supply of a product in high demand is cut, prices are very likely to increase.

AS AN INDUSTRY PROFESSIONAL, WHAT IS YOUR OPINION ON CHOOSING TO INVEST IN PINK DIAMONDS? In terms of the future outlook, pink diamonds are incredibly well positioned to thrive, and not just because of the closure of the Argyle Mine. Pink diamonds have a number of characteristics that investors find greatly appealing, particularly considering the volatile economic situation we find ourselves in now. Some of these reasons are specific to the diamonds themselves as mentioned, including their rarity and physical beauty, which make them very attractive. They are also very stable, in that they don’t demonstrate the volatility we’ve seen in equity markets, commodities or even with gold and other precious metals. So when financial markets wobble, as they invariably do, pink diamonds can typically be relied upon to maintain their value. They are also truly limited in supply, which gives them inflationprotecting qualities, and the proven history of strong long-term returns make them attractive as investments in their own right too. It’s worth remembering that even when Argyle was in production, pink diamonds were growing by more than 10 per JAN/FEB 2022

MINING FEELING FLUSH: THE VALUE OF PINK DIAMONDS HAS GROWN 30 PER CENT IN THE PAST FINANCIAL YEAR.

of Origin and Authenticity, as well as have a laser inscription with a unique ID number physically present on the diamond itself.

WHAT DO YOU PREDICT THE VALUE OF THESE DIAMONDS TO BE IN FIVE TO 10 YEARS? cent per year. And now, with 95 per cent of the world’s annual mine production gone, and with demand continuing to rise, it is almost certain that prices will continue to rise as well, and that the next decade is likely to be incredibly rewarding for investors who put some of their money in this unique asset class.

YOUR WEBSITE SAYS: ‘AVERAGE 11.2 PER CENT GROWTH PER YEAR’, AND YOU’VE ALSO SAID ‘IN THE LAST 12 MONTHS, DELIVERING AN AVERAGE RETURN ON INVESTMENT OF 30 PER CENT’. COULD YOU EXPLAIN SIMPLY WHAT THIS MEANS? Historically speaking, growth in prices is not linear – it is not the same every year, some years pink diamonds appreciate more, some years less. The average over the past 10 years has been 11.2 per cent, per year. Growth has exploded in the year since the Argyle Mine closed and we’ve seen a 30 per cent price growth in the last financial year alone.

HOW CAN BEGINNERS START TO INVEST? One of the most beautiful things about pink diamonds is that they are still accessible to a fairly wide audience. While it’s the multimillion

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dollar diamonds that tend to capture most media attention, you can certainly still buy high-quality, investment grade pink diamonds from a starting point of approximately $20,000. That’s one of the reasons why they are becoming increasingly popular with retail investors, and in particular with SMSF trustees, as diamonds are an allowable investment within a self-managed super fund.

WHAT’S BEEN YOUR BIGGEST LEARNING SO FAR IN SUCH A HIGHROLLING BUSINESS? While we do deal with high-end investors, the majority of our customers are SMSF trustees and retail investors. The key to our success has been founded on providing high quality, transparent information about pink diamonds and an end-to-end solution that makes it easy for investors to buy, store, and sell the asset.

THE VIBRANCY AND COLOUR DEPTH OF AUSTRALIAN PINK DIAMONDS IS SAID TO BE INCOMPARABLE. IS IT POSSIBLE TO TELL WHERE PINK DIAMONDS IN THE MARKET RIGHT NOW CAME FROM? Yes – pink diamonds that were both mined and cut by the Argyle Mine will be accompanied by a Certificate

While each diamond is unique, history provides a guide of where prices will head. If pink diamonds grow by 11 per cent per annum, in line with their long-run average, then a $50k stone will be worth closer to $140k a decade from now. If they continue to grow at 30 per cent per annum like they have for the last year, that same $50k stone bought today would be worth $689k in 10 years, while 20 per cent per annum growth would see the diamond worth just over $300k. There are no guarantees of course, but given the closure of Argyle, we are confident the next decade will be at least as rewarding as the last 10 to 15 years have been.

ARE YOU AWARE OF ANY POTENTIAL LOCATIONS OF CONSIDERATION TO MINE PINK DIAMONDS IN AUSTRALIA AGAIN? There have been no new significant deposits of viable mining opportunities to replace the pink diamonds from the Argyle Mine. Hypothetically speaking, even if a new mine were to be detected in the future, it takes on average 10 to 15 years for a mine to reach the point of commercial production.

DO YOU OWN A PINK DIAMOND YOURSELF? I do – I am a firm believer in the importance of owning hard assets as part of a diversified portfolio. Pink diamonds form an important portion of my own SMSF.

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BOOK REVIEW

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BOOK REVIEW

WOMEN ON TOP Australian women remain in the minority as leaders of the business world. Now a new book by start-up hub Fishburners wants to address that imbalance, by sharing the stories of trailblazing female founders. Words: LJ Charleston

JAN/FEB 2022

BOOK REVIEW

FIRST ROW L-R: Betty Andrews Rhoda Esquivel Sarah Cummings Claudia Galvis SECOND ROW L-R: Lindy Chen Michelle Forster Stephanie Weiss Mellonie Francis THIRD ROW L-R: Vanouhi Nazarian Nicole Marshall Laura Simmons Annie Slattery

It’s a truth universally acknowledged that women-led businesses are very much in the minority in Australia. Even though more women than ever are taking the leap and being their own boss, the start-up sector remains male dominated. In October 2020 there were 355,000 registered start-ups, but only 22 per cent are run by women, pointing to a rise of only three per cent across two decades. Australia’s biggest start-up hub Fishburners has helped more than 3,000 people start a business since 2011 – and now it wants everyone to know about the women-led businesses that are thriving. CEO Nicole O’Brien believes the newly released book Fempowered Females will inspire other women, by giving practical advice and tips about being an entrepreneur – and how your business can grow from just one great idea. There’s clearly a hunger for such information as the book reached 'best seller' status on Amazon just two days after publication.

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“If a start-up is something you’re passionate about and you’ve got a good idea, you should go for it.” “Female founders have a much bigger role to play in unleashing new ideas, services and products and shaping a world that meets their needs,” Nicole says. “Fempowered tells the stories of some incredible female founders, and our hope is that it will inspire more women and girls to pursue their entrepreneurial dreams as decision makers, change makers, leaders and trailblazers.” According to Nicole, there’s a huge need for encouragement, guidance and inspiration for womenled start-ups. “A McKinsey Global Institute study found that advancing women’s equality could add $12 trillion to the global economy by 2025. So we’re here to get more women hired, promoted and invested in, and get more businesses started.

“It takes a lot to incorporate a start-up into a woman’s life, especially if she has a young family – but it can be done,“ Nicole continues. ”If a start-up is something you’re passionate about and you’ve got a good idea, you should go for it.” Here five of the women featured in Fempowered Founders share their words of wisdom.

BETTY ANDREWS, FOUNDER AND CEO OF HSTL&HRT “You never know whether a business is going to be viable until you go ahead and do it. Just get started! Everyone says it but just go and do it. Don’t hire a website designer, get on WordPress or Squarespace. You don’t need a co-founder. It’s instilled in us that we need a co-founder because

BOOK REVIEW

it’s hard. It’s not true! You can do it on your own. “You don’t have to be perfect to do it and you don’t have to wait. You don’t have to get an MBA, but if you want some help there’s always a way of going out and finding it. It might be hiring a business coach or asking someone to be your mentor. Go out and experiment.” hstlandhrt.com

CLAUDIA GALVIS PLATA, CEO OF PUMPFREE ENERGY “In my corporate career, I didn’t believe in the glass ceiling until I cracked the top of my head on it. Working 100 per cent in a start-up has been harder than any corporate job but it has given me purpose because now I work with others to ensure we’re working towards something meaningful every day . My advice: check that your idea is enticing to those who would pay for it and then get the right team together to make it happen. “For pitching, plan what to say and how to say it, then speak slowly and with all your passion. Practice, practice, practice, and make sure you know the technology you’re using; there’s no point practising with full use of your

hands and a lectern and then have to handle a microphone and short cards. Dress for the audience and use clean humour. These little nuggets worked for us and we even won the Fishburners Cleantech pitch night.” pumpfree.com.au

VANOUHI NAZARIAN, CO-FOUNDER OF WAGECHECKER “A person can spend two years sitting in their study trying to plan out what their start-up will look like, but they’ll never get anywhere. They need to be out there, selling, from day one. Even if everything isn’t perfect, be out there selling. “For prospective founders who haven’t settled on a business idea yet, go out and talk to people in industries you care about. Spend 10 per cent of your time listening. For those who already have an idea, stop procrastinating and just do it. Stop looking for the ‘why not’ and look for the why.” wagechecker.com

even something simple like posting to a Facebook group. Eventually it becomes easier to self-motivate. “Women have a tremendous opportunity to enter the start-up market. From a content perspective, I’ve been very successful in my marketing journey. There’s enormous demand for women-orientated content but there aren’t enough women’s voices or enough women micro-influencers speaking out.” rareiio.com.au

NICOLE MARSHALL, FOUNDER AND CEO OF GRASSHOPPER

MELLONIE FRANCIS, CEO OF RAREIIO

“Even though times are tough now around the world there are so many amazing opportunities out there. So why not take the chance to learn, grow and try out something new? “Every time I face a fear, the next milestones become less daunting and more achievable. There’s no better time to start than now. It takes courage to create something new like a startup. You’ll never be ready to start, you’ll never be in that perfect place where everything lines up, so just start now!” playgrasshopper.io

“Sometimes the journey can seem overwhelming there is so much to do. Start small, it doesn’t matter what it is,

You can buy a copy of Fempowered Founders at amzn.to/3om584k

JAN/FEB 2022

A BLAST FROM THE

PAST

The main street of Eden has taken a step back in time with the recent unveiling of the impressively restored façade of the Hotel Australasia.

discovered the bones of the building were in remarkably good condition. The 1904/05 front façade inspired the whole project. “The first task was to rebuild the front parapet as it had been knocked off to install the new façade in 1957,” Mr Rankin said. Another major task was lifting the floorboards, taking two months to restore. Every little detail has been researched and reinstated – colours, internal timber staircase and front ironbark balustrade. “The original colours were found around the windows and doors; everything was tiled over. It’s all been about saving and preserving the local history,” Mr Rankin said.

For 117 years Hotel Australasia has been an integral part of the social and physical fabric of the township of Eden; its long and colourful history holding a special place in the hearts of generations of locals. Those following the hotel’s restoration progress will be pleased to learn the doors are expected to open once again in March 2022, after its sudden closure in 2010. Bega Valley Shire Council originally purchased the historic hotel in February 2016 as a civic space. Following strong pressure by community group Eden’s Australasia Inc, the landmark building gained Heritage listing status with a view to restoring the beautiful original front façade. Four years later local commercial building contractor Neil Rankin bought the historic building from Bega Valley Shire Council. And with another change in ownership, developer Core Asset Development (CAD) identified the potential in the grand old lady of Eden in September 2021. CAD retained Mr Rankin and his team to finish the job.

AusBiz.

The heritage renovation has been met with much anticipation from not just those involved in the build, but also the townspeople – many of whom have a deep and personal connection to the building’s history. LOVE KNOWS NO BOUNDS To Mr Rankin, Hotel Australasia is more than just another project, it’s a labour of love for him and his highly skilled team of trades. When restoration work began almost two years ago, it was

CAD has also bought the Eden Fishermen’s Club and plans to redevelop the site into the Sapphire of Eden, a $100 million project comprising a four-tower complex. When open the building will offer an eight-room, five-star boutique heritage hotel with restaurants, outdoor eateries and ‘Rankin’s Bar’, vodka and gin distilleries plus more. Mr Rankin said, “It’s the biggest development in the town since Ben Boyd arrived in the area in 1842 with all his gold. Eden is getting a new lease on life.” For further restoration information and updates join Eden’s Australasia Facebook page: @AustralasiaHotel

START-UP

APP FOR FOR YOUR APPETITE How a new Aussie restaurant search app is helping people with food intolerances dine out stress-free. Words: LJ Charleston

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START-UP

El Salem knows how difficult it is to find places to eat that cater to her specific diet: gluten and dairy free, and low FODMAP. On most occasions, her only choice when eating out was spending ages searching menus for meals she was able to eat. She was also tired of hassling waitstaff with an endless array of questions. “I’d just hope for the best at whatever restaurant my friends were going to. I always felt like a pain, and I hated being the person who couldn’t eat stuff all the time,” El says. “The problem is that people with dietary requirements cannot easily find restaurants that cater for them or know what the quality of those options are for which they are often paying extra, such as for vegan cheese or gluten-free bread.” Seizing the opportunity to fill the gap in the market, El created the Eatwell app. It’s like a Tripadvisor or Google Maps for people with dietary requirements. Users can input any dietary requirement, allergy or diets they have, and the app shows them restaurants that are recommended by other users with the same needs. Then, they’re shown specific menus for what they can eat. “My biggest success so far has been our user feedback following our launch. It was so positive with users saying it solved their problems of finding great places to eat, and they only wanted extra features like interacting with others like them on the app. “Prior to developing our app, I did seven rounds of design getting

“I always felt like a pain, and I hated being the person who couldn’t eat stuff all the time.”

feedback and iterating with 80 user testing participants in our target market, which paid off,” El says. The Eatwell app helps you find the best places to eat, rated and reviewed by others with similar food issues. You can rate and review places to eat for all your dietary needs. If you have any allergies or are on a particular diet, the app has also got you covered. It takes away any dietary-related stress by showing you a menu just for you, instead of showing the food you can’t eat. El says the start-up journey hasn’t been easy, but it’s been an enormous help being part of the Fishburners start-up community “My main challenge at the start was to understand how to build an app, designing it, and how to go about finding good, cost-effective engineers. I simply asked every software engineer friend I knew, as well as posting on the Fishburners Slack channel if they knew anyone who could help, which led to the two engineers we have today,” El says.

“It’s great being supported by people who’ve been in exactly the same boat, and are so helpful whenever we have questions. It’s impossible to have all the skill sets needed to successfully launch a business, and a community that’s so responsive and helpful is invaluable.” El is now focusing on growing communities around the Eatwell app, which focuses on bringing people together through food. “People with food intolerances usually feel like the odd one out without any decent restaurant options. We cover Sydney and are expanding to Melbourne restaurants in the coming months, and hopefully to Queensland and New Zealand,” El says. “I’d advise other start-up founders to always focus on the user and you can’t go wrong. Instagram polls are the quickest and best way of seeking advice on specific questions. And constantly try to seek longer one-toone feedback from users and solve for their pain points.” eatwellapp.com.au JAN/FEB 2022

BUSINESS

ANALYSE THIS Aussie tech company Wall St Rank is helping Gen Z investors navigate the US stock market by giving access to Wall Street’s analysts. Words: LJ Charleston

Wall St Rank CEO Amrit Rupasinghe noticed a sharp rise in the number of people turning to TikTok and YouTube during the pandemic, looking for 'expert advice' about investing. He realised time-poor investors were relying on social media platforms when researching stock ideas – and that gave him a great idea for his business. It is a classic case of being able to pinpoint a gap in the market and move on it quickly. Now Wall St Rank is helping people access stock ideas, based on the consensus opinion of top Wall Street analysts. Amrit sees his business as solving a major problem for investors, by shortlisting analyst-vetted stocks from a pool of more than 7,000 stocks listed on the US exchanges. “This is particularly difficult for people not from the US investing in that market,” Amrit explains. “When time-poor investors look for stock ideas by looking at TikTok, this results in a lot of misinformation being spread, and investors getting burned. We want these investors to know that they can easily get signals

from sector-specific analysts who deeply understand the sectors and the companies they cover.” As Wall St Rank is entirely bootstrapped, Amrit has been relying on a team of freelancers who’ve been working on different parts of the project. He says this aspect of the work has been challenging. “Managing different time zones, communication mediums and work styles has been quite challenging. I’m happy to say that we’re cracking $ 5,000 in MRR [monthly recurring revenue], so I can start to spend more on reliable dev resources. “Our biggest success is the main source of traffic for us is referral, and we’ve had 40,000+ visitors to the site from 165 countries. It goes to show that we’re solving a real problem for part-time investors – especially those that are non-US based.” Amrit sees Wall St Rank as part of the wave of new fintechs democratising Wall Street for parttime investors. His vision for the product is to be the go-to resource for smart money signals.

“Analysts typically cover sectors they have domain interest and/or expertise in, and they go deep.” 22

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“We started with sell-side analysts’ ratings, but we want to highlight what the buy side is actually investing in as well. For example, we’ll soon be ranking the top 100 hedge funds by performance, and sharing their holdings,” Amrit says. “In the past, you would have had to park at least a $1 million with a fund to know its holdings – with Wall St Rank you can do so from $11.99 per month. That is extremely powerful.” Amrit says there are some key factors people need to know about investing.

›› W HY ANALYST PREDICTIONS ARE USEFUL “Analysts typically cover sectors they have some domain interest and/ or expertise in, and they go deep,” explains Amrit. “They also have access to complex financial models that help them project the growth of certain metrics on the stocks they follow. “Other than scrutinising financial statements, filings and material announcements, they also consider macro-economic data, industry tail and headwinds, they tour facilities, have access to management, follow bloggers and talk to suppliers and customers.” In contrast, a part-time investor can spend around two hours researching all the companies they are interested in per week, Amrit says.

›› K NOWING WHERE DATA COMES FROM “Analysts cover multiple companies in their sector, and provide detailed research reports on them (which they update when assumptions for their previous assessment have changed). These reports have to be purchased directly from the firms, and are too expensive for the average investor. We work with certain financial data providers that have relationships with these analysts to access summary data (rating, price target, revenue estimate, earnings estimate, beta),” Amrit says.

BUSINESS

THE BIG ISSUES While, on the surface, Wall St Rank seems like a simple product, Amrit says he’s faced countless issues throughout the journey – leading to two important decisions that are now at the heart of the business. “The two decisions I’ve made are: make Wall St Rank a popular research tool for part-time investors globally. And, that I won’t stop until Wall St Rank is a popular research tool for part-time investors globally! “And I’d like to share some advice for other start-ups: join a start-up community for support. Fishburners has been great for us. Being part of a community that’s striving to make positive change in people’s lives

“As a second-time founder, the biggest difference is focusing on distribution above everything.”

has been very helpful,” Amrit says. “Also, most first-time founders focus on product. But, as a second-time founder, the biggest difference in my approach is focusing on distribution above everything. “I have 10 times less resources than I did in my last company, but the scale I’m experiencing with this venture is far greater because I prioritised my go-tomarket strategy.

“I plan on evolving the business to become the go-to resource for all smart money signals. For example, we will soon be displaying the rationale behind a specific analyst rating and price target on a stock, and also which top fund managers are buying it. “I am really excited to see how the platform is going to evolve over the course of 2022.” wallstrank.com

JAN/FEB 2022

PROPERTY

REGIONAL PROPERTY BOOM Forget the idea of a 'small country town' – the Australian regional property market has surged with new work-from-home capabilities. Words: kirsten craze

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PROPERTY

“Working from home looks to have some degree of permanency post-COVID and is one of the catalysts of this trend, with more people basing themselves in regional locations to work remotely, or balancing office work with home working.”

A regional real estate renaissance has taken flight, perhaps the least expected side effect of the global pandemic. Within weeks of COVID landing down under, many economists and property professionals were predicting prices would plummet as much as 30 per cent. That didn’t happen. Instead, some capital city markets experienced a roller-coaster ride, with values initially softening but finishing 2021 on a high. However, it’s the regional markets that have really boomed. In CoreLogic’s latest Regional Market Update, 25 regions were analysed, with 24 recording double-digit annual growth for house values. More than 50 per cent of the regions had an annual rise in excess of 20 per cent and, incredibly, seven regions experienced a jump in house values above 30 per cent for the year to October 31, 2021.

FROM HOLIDAY HUBS TO PERMANENT ADDRESSES Tim Lawless, research director at CoreLogic, says each area had its own reasons for the lift in values, but common threads were: a population migration away from capitals; historically low interest rates; relatively easy access to credit; higher household savings; and the simple fact country homes have traditionally been cheaper than those in the cities.

“There has been a broad demographic shift where more Australians are prepared to consider housing options outside of the capital cities, which has seen net internal migration rates to regional Australia reach record highs,” he explains. “Working from home looks to have some degree of permanency post-COVID and is one of the catalysts of this trend, with more people basing themselves in regional locations to work remotely, or alternatively balancing office work with home working.” The Southern Highlands and Shoalhaven region of NSW had the largest hike in house values, with an increase of 35.9 per cent, according to CoreLogic’s report. With house values increasing 32.8 per cent, the Richmond-Tweed region in northern NSW (including in-demand Byron Bay) had the second biggest jump, and the Sunshine Coast in Queensland (home to Noosa) recorded an annual growth rate of 32.3 per cent. As long-standing holiday home regions for Sydney and Melbourne’s wealthiest, these popular vacation destinations are fast becoming more permanent getaways for cashed-up city escapees. When once upon a time buyers would have second homes in towns such as Bowral, Byron Bay or Noosa Heads, local agents report a trend of buyers relocating for good, keeping their city pad as a part-time residence instead.

JAN/FEB 2022

PROPERTY

EXCHANGING THE DESK FOR A LIFESTYLE DESTINATION Eleanor Creagh, senior economist at realestate.com.au’s data arm PropTrack, says as 2021 came to a close, housing values in regional Australia were rising at their fastest annual pace in more than 30 years. She cited the work-from-home movement from the pandemic as the main driver. “Hybrid work is resulting in a decoupling of employment from locality, weakening the once strong gravitational pull of CBDs,” Eleanor noted in the PropTrack Regional Australia Report. “Better-than-expected experiences working from home and accelerated remote work adoption through the pandemic have given many an opportunity to live in areas that previously would have been impractical. As a result, regional centres are seeing rapid population growth,” she said. The REA Group research revealed the most searched for region over the 12 months to October 2021 was the Gold Coast, followed by the Sunshine Coast, then Geelong, and finally the Illawarra. Within the first year of the pandemic, the Australian Bureau of Statistics recorded the highest number of interstate movers for a March quarter since 1996, with the movement of net migration into Queensland double the decade average. In the 12 months to March 2021, a net

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43,000 people exited capital cities in favour of regional hubs – the biggest net influx to the regions since the ABS began compiling the data in 2001. Although the next data set is yet to be released from the ABS, Eleanor says she estimates that the regional-bound migration is continuing en masse.

RISE OF THE COMMUTABLE COMMUNITY While a new breed of virus escapees are seeking wide open spaces and tranquility, the snapshot of regional real estate prices shows out-of-town buyers are keen to keep the city on their doorstop. “The top performing regional areas were all coastal or lifestyle markets generally within a two-hour commuting distance of a capital city. These areas fit within the broad trend where demand has surged for lifestyle properties that offer a blend of liveability and commutability,” Tim says. “This mismatch between available supply and demand has created a heightened level of urgency among buyers, generating strong selling conditions where homes are snapped up quickly with minimal levels of negotiation,” he says. The quickest selling regions within the CoreLogic report were the Gold Coast, the Sunshine Coast and Ballarat, where the median time on market for houses was 18 days over the 12 months to October 2021.

ABOVE FROM LEFT: NOOSA HEADS ON THE SUNSHINE COAST; AUTUMN COLOURS IN BOWRAL.

PROPERTY

The longevity of the regional boom will largely depend on affordability, Tim adds. But as more companies begin to formalise post-pandemic hybrid working policies, commutable areas are likely to remain the most highly sought-after property markets.

REGIONAL RISES DEPEND ON AFFORDABILITY Country and coastal towns have always been the cheaper housing option in Australia, but the great price divide is shrinking. “If housing values across regional parts of the country continue to outpace the capitals, the obvious outcome will be that regional markets lose their affordability advantage,” Tim explains. “We can already see this trend

NEWCASTLE JOINS OTHER COASTAL AREAS IN MOSTSEARCHED REGIONS.

taking shape in some of the most popular regional coastal markets, such as Byron Bay where median house values are $1.7 million, and Noosa where median house values are $1.2 million – much higher than comparable capital city values.” The seriousness of the regional affordability dilemma was recently highlighted in the ANZ CoreLogic Housing Affordability Report. Nationally, the ratio of housing values to household incomes reached a concerning new high in June, as did the number of years it takes to save a deposit, and the portion of income required to pay rents. Eliza Owen, head of Australian research at CoreLogic, says the report emphasised the strained and restricted conditions for local buyers in regional Australia.

“Affordability challenges in regional Australia have been exacerbated by COVID, where normalised remote work trends and appealing coastal or tree change settings became ‘pull’ factors of demand, while high capital city property prices and the higher incidence of strict social distancing restrictions became ‘push’ factors, ultimately driving people away from major cities,” Eliza says, adding that for sale listings across regional Australia remained 36.9 per cent below the five-year average (as of November 28, 2021). “The combination of more people arriving in regional Australia, and fewer people leaving for the cities, has created additional demand for housing, pushing the number of homes available to buy or rent to extreme lows.”

HIGHEST YEARLY GROWTH SHOALHAVEN AND SOUTHERN HIGHLANDS (NSW)

35.9%

SHORTEST DAYS ON MARKET GOLD COAST, SUNSHINE COAST (QLD) AND BALLARAT (VIC)

18 DAYS

LOWEST YEARLY GROWTH TOWNSVILLE (QLD)

LONGEST DAYS ON MARKET NEW ENGLAND AND NORTH WEST (NSW)

62 DAYS

*CoreLogic Regional Market Update, November 2021

Top searched regions

Region Gold Coast (Qld) Sunshine Coast (Qld) Geelong (Vic) Illawarra (NSW) Newcastle & Lake Macquarie (NSW)

Average val (houses) $730,000 $730,000 $675,000 $805,000 $690,000

Average val (units) $455,000 $490,000 $470,000 $575,000 $510,000

JAN/FEB 2022

INDIGENOUS AUS

UNBREAKABLE BONDS

For the Aboriginal Bush Traders, there has been a silverlining through COVID-19. Closed borders meant an opportunity to celebrate their art and culture. Words: Will York

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INDIGENOUS AUS

Currently in the Northern Territory there are three busy green ants working together to build a nest. The green ants stand out from the ant-crowd because they work closely with one another to build a healthy home high up in the treetops. The three green ants in this story are Aboriginal people and Aboriginal Bush Traders, Industry and Government, all of whom are collaborating to work towards creating a secure and sustainable future (the nest) for Aboriginal People. Aboriginal Bush Traders is a not-for-profit social enterprise that ethically sources unique Indigenous owned, designed and produced artwork and products. The magic of its good work is twofold: the NT communities from which the products are sourced receive financial support, and the greater public is being taught an appreciation for Australia’s Indigenous culture.

A DIFFERENT FRAMEWORK FOR BUSINESS Its modus of operandi is a little different to usual consignment galleries, and the difference is because of its social enterprise framework. The first rule of Aboriginal Bush Traders is that every artist or producer is paid upfront. It deals directly with the artists or deals with art centres throughout the NT to ensure every step of the way is ethical.

“Every time you walk through the door, there isn’t one piece that hasn’t been paid for, all the artists have already been paid,” says manager of Aboriginal Bush Traders Samoane Regattieri. “Upfront payment is important because many of the artists support their families and communities.” ABT encourages the artists to set up business accounts and will never pay in cash. They also ethically source products from manufacturers who make products with Indigenous designs on them. The idea behind checking every step of the way to be ethical is to develop sustainability for the recently booming Indigenous art industry. Samoane doesn’t thank the COVID-19 pandemic for many things, but she does acknowledge the related border restrictions forced Australians to fall in love with their backyard all over again. “We’ve gone back to the ’90s, where Aboriginal art sold like wildfire. What happened shortly after in the 2000s was that all the international travel to places like Bali led Australians to be more interested in overseas art than our own.” According to Samoane, the pendulum has swung back, which is why its even more important to set up ethical guidelines to ensure Indigenous businesses are not taken advantage of.

LEFT: BAUBLES AND TJANPI DESERT WEAVERS BASKET, ROSELLA PLANT AND BASKETS, YVONNE ODEEGARD NECKLACE

JAN/FEB 2022

INDIGENOUS AUS

A major focus at this year’s Northern Territory Indigenous Business Network (NTIBN) 10th economic forum in Alice Springs was black cladding: an unethical business practice where companies market, or clad, their brand to emulate Indigenous culture with little-to-none Aboriginal or Torres Strait Islander consultation. For example, there are businesses that will provide 51 per cent of ownership to an Indigenous entity, while the 49 per cent minority is a non-Indigenous entity, and the purpose is to receive procurement policies or contracts that have been put in place to support Indigenous businesses. What typically arises is the 49 per cent isn’t much of a minority, and in fact will call all the shots while benefiting from the support programs.

A PROMISING FUTURE In February of 2021, a non-Indigenous beauty brand sold ‘Red Central Australian sand’ as a skin exfoliant. It designed its packaging with Aboriginal dot painting, and to the unassuming eye it looks to be an Indigenous product. After heavy criticism, the brand took down the product and issued a statement that said the business had been shut down. The place in the market for enterprises such as ABT is growing bigger and bigger by

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the day. Research from Monash University found that 92 per cent of Australian consumers believe sustainable business practices should be standard. The average consumer has turned woke, which means they consider the ethics of their purchase. Where has it come from? How was it made? Are the ingredients ethically grown? These questions and many more have been introduced to the consumer experience, which is why ABT and other enterprises have become so successful. Samoane manages ABT under the mentality of: “listening but also hearing our customers.” Her savvy business attitude motivates her to always have her finger on the pulse, and to make sure she finds the products customers want. She’s currently working on a campaign to bring Central Australia to Darwin. Recent travel restrictions put in place by the Northern Territory Government have put the remote Central Australian tourism industry in a chokehold. Her solution for the art centres in these areas who haven’t been able to receive visitors is to sell their products and get people excited to visit when restrictions are dropped. The nest is always changing, always being built, and is always strong.

ABOVE: BUSH MEDICINE, CANDLES AND TEAS FROM VARIOUS ABORIGINAL BUSH TRADER ARTISTS.

T R U LYAU S .CO M

YERRANDERIE – A 'GHOST TOWN' IN THE BLUE MOUNTAINS, NSW.

THE PLACE TO FIND REAL AUSTRALIAN STORIES

ENVIRONMENT

GLIDING HIGH Australia’s iconic greater gliders were hit by devastating habitat loss after the 2019-2020 Black Summer bushfires. Here Drew Liepa – senior program officer at Greening Australia – tells AusBiz. about the Gliding to Recovery program to install 300 nest boxes across East Gippsland’s Hartland State Forest, in conjunction with Landcare Victoria, in an effort to research the little-known species and save it from extinction. INTERVIEW BY: darcy watt

Q. THE POPULATION OF GLIDERS HAS DIMINISHED BY 80 PER CENT OVER THE PAST 20 YEARS. HOW IS IT MEASURED AFTER EVENTS SUCH AS THE 2019-2020 BLACK SUMMER BUSHFIRES? It’s challenging to assess the impact on populations immediately after a natural disaster, and even now, two years after the 2019/2020 bushfires began, we still don’t know the full extent of impact of these devastating fires on greater glider populations. We do know that the fires had a significant effect on greater glider populations and their habitat in East Gippsland. Research by Deakin University also found that across Australia, almost 30 per cent of greater glider habitat was burnt in the 2019/2020 fires. Q. WHAT MAKES THE GREATER GLIDER SUCH A UNIQUE ANIMAL, AND WHY IS IT IMPORTANT TO PROTECT THE SPECIES? Greater gliders are Australia’s largest gliding mammal. They have large fluffy ears and a long, furry prehensile tail. They can glide up to 100m in a single glide and can change direction at a 90-degree angle mid-flight. Greater gliders play significant ecological and functional roles in

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ecosystems; they are an important part of forest food webs and their disappearance or population decline risks disrupting the delicate balances that exist in the natural world. Additionally, taking action before greater gliders disappear entirely from the wild is crucial, as strategies such as captive breeding and reintroduction programs are costly conservation interventions and have increased risks of failure. Australia is home to an incredibly rich diversity of wildlife and many species are found nowhere else in the world – including greater gliders. It’s critical that we take action to protect and conserve this unique species before it is too late. Q. WILL CAMERAS BE INSTALLED IN THE GLIDER NEST BOXES TO MONITOR WHETHER THEY ARE BEING USED? The nest boxes we are installing will be monitored for occupancy (by any species, including greater gliders or sugar gliders) using a thermal monocular and thermal drone flyovers approximately two months after the boxes have been installed. Using a thermal monocular, Greening Australia has previously observed greater gliders using our nest boxes at other sites in Victoria.

The measure of success will come several years later when we survey the area (using thermal drones and on-ground surveys) to ascertain if the population is stable or has increased against baseline data. Q. DOES THEIR TENDENCY TO INHABIT SMALL, ISOLATED HOME RANGES ALSO HAVE AN IMPACT ON THE GENETIC DIVERSITY OF GREATER GLIDERS? Although there is currently little understanding about the genetic relationships between greater glider populations, there is a concern that habitat loss and fragmentation is placing the species at further risk of the effects of low genetic diversity. Greater gliders are unable to move effectively or safely through cleared land to access new habitat or other glider populations, which means that gene flow between populations – genetic exchange via breeding – can be virtually non-existent. This can create low genetic diversity in small and isolated populations. Populations with low genetic diversity can have a negative impact on population health, including by limiting the ability to adapt to environmental change and increasing the risk of extinction.

ENVIRONMENT

Photograph by: Doug Gimesy

JAN/FEB 2022

ENVIRONMENT

DID YOU KNOW? GREATER GLIDERS ARE ONLY FOUND IN AUSTRALIA, AND REPRODUCE ONCE EVERY TWO YEARS.

Q. DO YOU HAVE ANY FUTURE PLANS TO DEVELOP SIMILAR RESPONSES IN OTHER BUSHFIRE AFFECTED AREAS? For now the scope of this project is limited to our actions in Hartland State Forest. However an exciting component of this project is the development of a new suite of greater glider genetic markers from scat testing, which will provide environmental practitioners with a powerful tool to better understand, map, plan, monitor and protect populations in the future. The nest box design and the implementation process we are using for this project can also be applied in other locations where greater glider populations live to support the recovery of this vulnerable species. Additionally, an important component of the Gliding to Recovery project has been involving local Landcare networks and community members. In partnership with Far East Victoria Landcare Network, Greening Australia is delivering community engagement and training events that focus on educating and building the awareness and capacity of locals to assist in conservation efforts. Q. WHEN WAS IT DECIDED THAT THE PROJECT WAS NECESSARY? Five years ago survey data highlighted a rapid decline in greater glider population in their stronghold areas including the Southern Highlands of Victoria. Taking action on the ground to address some of the threats facing this species became even more urgent than it already was. Additionally, the bushfires of 2019-2020 destroyed close to 30 per

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cent of greater glider habitat. The impact of these fires was catastrophic for this already vulnerable species, diminishing suitable hollows and causing drastic habitat fragmentation, so our Gliding to Recovery project provides much needed shelter in unburnt pockets of land. Q. BESIDES NATURAL DISASTERS, WHAT ARE SOME OF THE OTHER MAIN THREATS TO THIS SPECIES? Greater gliders’ reliance on forest habitat and large hollow-bearing trees means that habitat loss and fragmentation from land clearing and bushfires pose a major threat to this vulnerable species. Habitat fragmentation and population isolation also impact the ability of greater gliders to move through landscapes and recolonise suitable habitat, and reduces

genetic exchange between subpopulations. As populations decline and become more isolated, they are also more prone to the effects of small population size which could mean genetic decline. It is well documented that greater gliders also have poor dispersal abilities, occupy very small home ranges (approximately 1-4 hectares) and generally do not breed every year, so population growth is slow. These factors contribute to making the greater glider extremely vulnerable to wildfire and other threats such as hyper-predation by owls. Climate change also poses a severe threat for this species. Hotter, drier climates predicted may cause heat stress and increased rates of mortality for greater gliders, while more frequent and intense bushfires will continue to contribute to habitat loss and population decline.

ENVIRONMENT

progressive loss of large hollowbearing trees due to land clearing is happening at a much faster rate than these hollows are formed naturally, leading to a significant lack of hollows for greater gliders. Q. HOW IS GREENING AUSTRALIA AND LANDCARE VICTORIA INSTALLING THE NESTING BOXES WITHIN THE TREE CANOPY? We work with a team of expert arborists to install the nest boxes at heights where we know the greater gliders are moving about in the forest. This can be 20-30 metres up in the canopy. Each arborist climbs up the trunk of the tree to install the nest box and is supported by someone on the ground, who will help to hoist the boxes and other necessary tools up into the canopy using ropes. Q. WHERE DO YOU EXPECT THE POPULATION TO BE A FEW YEARS AFTER THE INSTALLATION OF THE NESTING BOXES?

Q. SO FAR, WHAT HAVE BEEN THE HIGHLIGHTS OF THE PROJECT? The enthusiasm and dedication of the project team has been truly inspirational. Spending time immersed in the habitat of greater gliders has given us a greater understanding and appreciation of their preferred glide pathways and feed trees. Conventional spotlighting to survey greater glider presence has always been a challenging, so our ability to

use thermal drones in areas has been a massive highlight. This technique has allowed us to better map the distribution of greater gliders. Q. WHY IS THERE A LACK OF NATURALLY FORMED TREE HOLLOWS IN THE LANDSCAPE? Greater gliders prefer to inhabit old-growth forests and the hollows they use for shelter and nesting can take hundreds of years to form. The

By implementing 300 nest boxes in Eastern Victoria, we are aiming to enhance critical habitat refugia for greater gliders and prevent further population decline in our target area – Hartland State Forest. Because greater gliders are slow to reproduce (producing only one young roughly every two years) population growth will inevitably be gradual. However, we hope that through targeted, proactive and science-based interventions such as the Gliding to Recovery project, over time we can reverse the decline of greater gliders and help this uniquely Australian animal to thrive. JAN/FEB 2022

AGRICULTURE

SIX SUPER INTERESTING INNOVATIONS FOR SUSTAINABLE FARMS OF THE FUTURE As the world unites to minimise global warming, agriculture is set for a massive shake-up to ensure we can still feed the planet while keeping it in good nick for our grandchildren. Words: Dave smith

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AGRICULTURE

“The commitments being made today show that nature and land use will contribute to addressing the twin crises of climate change and biodiversity loss.”

In the disastrous 2°C climate change scenario for 2050, available cropland will decrease by 10 per cent, yields will drop by up to 30 per cent, while the world will need 40 per cent more food to feed a growing population. That was the message for agriculture at COP26, the 2021 UN Conference for Climate Change held in Glasgow late last year. It was followed by a call for governments and industry to invest $70 billion over the next 20 years to accelerate the shift towards sustainable farming and land-use practices. Australia was among 26 nations to throw its hat in the ring by setting out commitments to plans that will help farmers pollute less and protect food supplies against climate change. “The commitments being made today show that nature and land use will contribute to addressing the twin crises of climate change and biodiversity loss,” COP26 President Alok Sharma said. “If we are to limit global warming and keep the goal of 1.5°C alive, then the world needs to use land sustainably and put protection and restoration of nature at the heart of all we do.” To mark Australia’s commitments and the progress that has already been made, we’ve put together a list of six of the most interesting innovations in sustainable farming.

1) THE KRAY DRONE Farmers using drones to spray crops is nothing new. But the new Kray Protection UAS drone from the US improves the technology by an order of magnitude. As the world’s first fully digital and unmanned crop sprayer capable of autonomously spraying fertilisers and pesticides, it offers a complete replacement for ag planes – at around 10 per cent of the cost. And unlike other drones that require farmers to spend dozens of hours learning how to fly one or pay a professional pilot thousands of dollars a day to drive out to their farm, the Kray drone is fully automatic thanks to a computer vision system that reads the terrain and adjusts the machine’s movements mid-air to avoid obstacles like windmills. Its spray jets are also JAN/FEB 2022

AGRICULTURE

CLOCKWISE FROM LEFT: ASPARAGOPSIS GROWING IN TANKS; SELF POLLINATOR ON THE GO; COWS ARE A PART OF FUTUREFEED’S GAMECHANGING PLAN TO REDUCE EMISSIONS; THE KRAY DRONE; LACHIE HART, STOCKYARD, AND ANDREW QUINN, CBA.

best-in-class, ‘electrostatically charging’ droplets to reduce drift and deliver the kind of variable rate spraying required for sustainable agriculture. And with an operating speed of 110km/hour and only 15 per cent of its productive time needed for tank refills and battery charge, the Kray drone can cover up to 1,200 acres per day – making it the most efficient and environmentally friendly cropspraying solution on the planet.

“We welcome the opportunity to participate in this innovative financing structure and make a commitment to tie sustainability targets to our financing,” managing director Lachie Hart says. “The loan also provides opportunities to access internationally recognised ESG (environmental, social and governance) credentials to help us secure capital and customers in the future.”

in tiny tubes and distributes it on plants using mechanical pollinisers. The invention has already been successfully trialled on almonds, apples, pears, plums, cherries, cotton, canola seeds and pistachios. Edete’s mechanical bee is expected to hit the marketplace at the end of this year or early in 2023.

2) SUSTAINABILITY LINKED FARM LOANS

3) MECHANICAL BEES Thirty-five different horticultural sectors in Australia with a combined farm gate value of $14.2 billion depend on pollination services supplied by beekeepers. But these tiny, under-appreciated workers are highly vulnerable to biological threats like the Varroa mite, which has killed 30 per cent of bees in parts of the US, and the Tropilaelaps mite, native to the giant honey bees of Asia, which is even more fatal. Neither disease has arrived in Australia yet but it’s only a matter of time, according to the CSIRO. Enter Edete, an Israeli start-up that has invented an artificial solution to bee pollination that stores pollen

For thousands of years, the decision on how and when to water trees has been based on farmers’ experience and intuition or gut instinct. SupPlant, another Israeli ag-tech start-up, changed that a few years ago when it launched a hardware-software solution that monitors plant stress and water content using sensors fitted out with artificial intelligence. The data is used in conjunction with real-time and forecast climatic data to project plant growth patterns, then uploaded to a cloud-based algorithm every 10 minutes to provide precise irrigation recommendations for farmers. Named one of Time magazine’s 100 best inventions of 2021, its new product,

Stockyard has been producing premium grain-fed Wagyu and Angus beef products at its 20,000head feedlot in the Darling Downs region of South East Queensland since 1958, and exporting meat overseas for nearly 50 years. Last year it became the first primary producer in Australia to successfully apply for a sustainability-linked loan with Commonwealth Bank. A three-year, reduced-interest loan, it sets out clear outcomes for Stockyard in terms of emissions reduction, animal welfare and workplace health and safety.

AusBiz.

4) AUTONOMOUS IRRIGATION SYSTEMS

AGRICULTURE

6) SEAWEED TO CURE THE EARTH

SupPlant API, does the same without the need for investments in hardware. “Our new technology collects and analyses local climatic data and unique plant and irrigation data from a model training farm that services more than 10,000 small growers with the same variety, thus providing lowcost irrigation solutions without the necessity of larger capital investments in hardware on the ground,” says CEO Ori Ben-Ner. “This allows small growers to gain the value derived from an adaptable irrigation strategy."

5) ALTERNATIVE PROTEIN FARMING The most vocal critics of alternative proteins are farmers and their associations, who feel it threatens the production of traditional animalbased proteins such as meat, milk

and eggs. But it’s time to put aside those squabbles and accept that consumers in this day and age want both. “Protein is a macronutrient that’s essential for life,” says Mirjana Prica, managing director at the Food and Agribusiness Growth Centre. “No one commodity, industry or food has the rights over protein.” The alternative protein sector in Australia is currently small but it’s growing quite fast; by 2025 it’s predicted that plant- and insectbased protein will account for more volume (yet less value) than animalbased protein. The shift will prove especially beneficial for crop farmers who diversify with high-value crops such as legumes, lentils, fava beans, chickpeas, soy, peas, pulses and mushrooms – and fill a growing global protein deficit in a sustainable way.

Research by the CSIRO has shown feeding cows a small amount of Asparagopsis taxiformis, a species of seaweed found on Australia’s East Coast, slashes methane production by more than 99 per cent. Given that more than a third of methane emissions created by human activity comes from cows and sheep, seaweed could be a serious gamechanger in the fight against global warming. Seaweed is also a potential source of biofertiliser in dried or fresh form, effective for ripening or increasing the shelf-life of fruits and vegetables as well as conditioning soil – an eco-friendly option to overcome the shortcomings of chemical-based fertilisers. And seaweed removes carbon from the atmosphere at a faster rate than any terrestrial plant. A recent study by the University of California found the state’s agricultural emissions could be completely offset by growing seaweed in just 3.8 per cent of its waters. Currently, there is only one commercial seaweed farm in Australia – near Nowra on the NSW South Coast – but watch this space. JAN/FEB 2022

PUZZLES

CROSSWORD 1

ACROSS

DOWN

1. Narcotic drug called OP8 (6)

2. Go before pence fade from sight (7)

5. Be quiet! Oh see, ruler is awful! (8)

3. Eager to change? Say yes! (5)

8. Blood-pumping responses experienced on seeing idols (5-6)

4. What you are expected to do at every other repast (3)

10. However, redhead abandoned Burt (3)

Each number represents a different letter of the alphabet. Work out which number stands for which letter to complete the crossword. We’ve given you two letters to start. All words are from a dictionary and no proper nouns are used. All letters of the alphabet are not always used. When you have cracked the code fill in the answer in the boxes below.

12. Even Tina could be sort of blind (8)

6. Crossover of seasons initially for lettuce (3)

14. Essential character of foreign tea urn (6)

7. Fence-sitting gear (7)

15. Of French man engaged in resolute resistance (8)

9. It’s jumped on but it’s a fashionable activity (9)

17. What’ll they say about acacia tree? (6) 11. Not active but still manages to interfere with radio (6) 18. Had some credit originally? That’s news, boss! (6)

13. Lack of knowledge about ocean ring (9)

20. Fibs about returning cage heirlooms (8)

explosive! (8)

20. Serving boy with fish (7)

25. Large nonflyer seen in the museum (3)

21. Eleventh rally will hold you spellbound (7)

26. Doing astronomer’s job when suffering from concussion (6,5)

24. Encountered the queen - a car park timer (5)

28. Putting on clothes instead of bandage to cover wound (8)

26. Mayday call sounds overly suspicious at first (1,1,1)

29. Conditional release for father with part in play (6)

27. Grasp odd break (3)

12 12

7 12

16 3

9 21

18 19

18 15

14 16

16 14

19 20

21 22

19 12

4 8

18 18

16 14

14 18

18 18

12 12

4 9

2 2

18 7

23 24

S O S

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SOLUTIONS:

E E M U I

D V

ANSWER: 3 18

C H

E R G

O P

N E

T T

N G S N

E G A A D

G E

H R O B

E S

H I

W A

E A M

N C I

R O E

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AusBiz.

D R

12 18

12 14

2 11

3 21

20 18

15 17

16. Absorbed in canvas shelter (6)

22. Retire with show-biz act at home (4,2) 19. Starr or Moon, for instance, plays bongo (7) 23. Diner might sound somewhat

CLUE S

5. Shyest rangers hide? Weird! (7)

ABCDEFGHIJKLMNOPQRSTUVWXYZ

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AusBiz Magazine – January-February 2022

Articles inside

Pink diamond supply chain

Protecting our precious gliders

Wall st. rank investing

Q&A with socks for support

Indigenous Australia

The regional property boom