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DINING
Parramatta open for discovery Real cost of technology breaches Suncorp eyes Middle Australia
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Issue 4 March/April 2010 MEDIA
State of the City Address see page 23
Hindmarsh in strategy role
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MARKETING
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Parramatta Business Access March / April 2010
inside
Business News 3 Regional Roundup 4 New Chamber Members 6 Insight 10 Technology 15 Dining 16
Health 17 Education 18 Money 19 HMS Feature 22 Motoring 26
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Time stops in QLD
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Lights off at Earth Hour
State of the City
Pizza by demand
A key feature of Parramatta’s largestever major events season, 70,000 people attended the A R Rahman concert and enjoy a vibrant and safe night in Parramatta.
Tourism triggers regional economic development FROM the cradle of the nation with the first seat of Government in Australia, Parramatta has evolved from a major centre in Western Sydney to a regional city in its own right, a status recognised by the NSW Government’s Metropolitan Strategy. The past decade has recorded strong economic growth as a result of significant expansion of high value-add sectors such as finance and insurance, property and business services. Parramatta has the largest local economy in Western Sydney with a gross regional product of $14.2 billion. Parramatta’s GRP has grown by 9% in the past two years and represents 6% of Sydney’s overall economy. There are 500,000 more people and 34% more office workers living in local government areas within a 15km radius of Parramatta’s CBD, than the Sydney CBD. Employment growth in skilled sectors has resulted in demand for cultural, tourism and attraction services. Parramatta has emerged as a dynamic, diverse and contemporary city that serves as a recreational and cultural hub for Western Sydney. Parramatta is a popular destination for dining and entertainment with over 300 cafes, restaurants, bistros and licensed venues. Employment in Parramatta’s cafes and restaurants sector increased between 2001 and 2006, in contrast to an overall decline throughout Sydney and NSW. Parramatta’s library, museum and arts sector grew by 11.2% between 2001 and 2006, further supporting Parramatta as a lifestyle and cultural city.
This growth in attraction-based employment has allowed Parramatta to develop a vibrant 24 hour cultural economy that contributes 6.2% to Parramatta’s gross regional product. “We’ve firmly established our emergence as a recreational, lifestyle and cultural hub for Western Sydney,” said Parramatta Lord mayor Paul Garrard. Over the years, Parramatta has been touted as “The Leading City at the Heart of Sydney”, “The Capital of Western Sydney”, “The Capital of Greater Sydney”, “The Capital of the Greater West”, “Sydney’s second CBD”. The NSW Government has previously committed to consider Parramatta as the “other CBD”. As a city, how does Parramatta challenge the NSW Government to honour this commitment? Parramatta City Council has adopted an integrated, market-driven approach. Over the past 12 months, a comprehensive new visitor strategy has been developed. For the first time, the market has thoroughly been explored. The city’s challenges and opportunities have been honestly questioned and this has resulted in a strategy that recognises that energies must be focussed on increasing visitation, rather than the traditional notion of tourism. Council’s initiatives are focussed on drawing the identified potential market segments, improving the Parramatta offer and supporting an economic multiplier effect through product and experience development, marketing (branding and communications), infrastructure (access, amenity and accommodation) and governance.
PARRAMATTA BUSINESS
In the past six months, Parramatta City Council’s achievements include: • The introduction of a $200,000 world-class pedestrian Wayfinding system to help people navigate the City. • The launch of Parramatta’s new online presence at DiscoverParramatta.com, a website highlighting the City’s entertainment, cultural and heritage attractions, developed in conjunction with over 200 local businesses. • The development of a wifi driven self-guided heritage walks using digital media – just download an MP3 to your personal device. • The delivery of Parramatta’s largest-ever major events season with a total attendance over 200,000 people, comprising of Council-produced events and others delivered in partnership with Sydney Festival, Events NSW and private promoters. • The initiation of a cluster model industry stakeholder group with over 130 participants, the first time we’ve done it on such a massive scale. • Identifying opportunities to increase the attraction of assets like the river foreshore, parks, and existing attractions to achieve their potential as key places for visitation; There’s more to come from this new visitation strategy. Parramatta as a destination needs to compete and Parramatta City Council is working to tell the world that Parramatta is a great place to live, work, visit and invest. - Bruce Mills, Economic Development Officer Parramatta City Council.
Parramatta Business Access (PBA) is published by Wallburg Developments Pty Ltd (ACN 102 914 027) in conjunction with the Parramatta Chamber of Commerce. A minimum of 4,000 copies are distributed every two months via EXCLUSIVE direct mail to select databases, bulk drops at key pick-up points in Parramatta and western Sydney and hand delivered to businesses in Parramatta and western Sydney. PBA is available FREE online at www.parramattabusinessaccess.com.au
www.parramattabusinessaccess.com.au
Phone: Wallburg 02 4572 2336, the Chamber 02 9683 6655. Fax: Wallburg 02 4572 2340, the Chamber 9683 6644.
Parramatta Business Access magazine is the official publication of the Parramatta Chamber of Commerce in cooperation with Parramatta City Council.
Publisher / Editor Michael Walls 0407 783 413 Executive Officer Paula Roden, Parramatta City Chamber of Commerce 9683 6655 Journalists: Paul Dillon, Louise Durack Contributors Trevor Oldfield AM, Mark Woodbridge, Bruce Mills, Paul Garrard, Red Dwyer, Ken Bailey Production / Creative Design Snap Printing - 69 Phillip St Parramatta 9633 4808 Enquiries wallburg@bigpond.net.au Mail PO Box 186, Kurrajong NSW 2758 Printed by Spotpress at Marrickville NSW
DISCLAIMER: The publisher reserves their rights in regard to the copyright of their work. It is up to each reader to comply with any local, state or federal laws. The publisher, authors and contributors disclaim any liability or responsibility for the use of the information contained herein.
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Parramatta Business Access March / April 2010
Regional Roundup
By Red Dwyer
Head of research at Macquarie DAVID Wright, formerly director of commercialisation, at National Information and Communications Technology Australia, at the Australia Technology Park, at Eveleigh, has been appointed MD, of Access Macquarie, Macquarie University’s research commercialisation company. (inset) David Wright. (left) Macquarie University campus
Hospital pushes ahead
THE state government will push ahead with a deal to open a $51 million hospital at Homebush Bay, despite claims yesterday that its prospective tenants, Kerry Ferguson and Daniel Owen, had been issued with eviction notices for not paying rent at Canada Bay, Lismore and Mackay private hospitals and it owed staff superannuation entitlements dating back more than a year.
Freight terminal work delayed
WORK on Sydney’s largest freight terminal is being held up because of a dispute with Department of Defence about when it will move off land at Moorebank. Described as a ‘’second port’’, the proposed facility will receive goods by train from Port Botany and redirect them by truck or rail across the country and through the city. Defence, which leases the site needs to relocate.
Shopping centre stake sold
PROPERTY developer, John Beville, proposes to sell a stake, worth an estimated $700 million, in the $1.1 billion Top Ryde City Shopping Centre project. When completed the project will include Myer, Big W, Woolworths, Franklins, Aldi, 280 speciality retail spaces, 11,500 square metres of commercial space and up to 450 apartments. The second stage is expected to open in March, with the final stage in mid August.
Paint group moves to profits
PAINTMAKER, Wattyl, based in Norwest Business Park, expects to return to profit following shedding 14 per cent of its workers and introducing lightwieght plastic paint cans as part of a two-year program which aims to reduce costs by $26 million by June this year. Wattyl has new products, with more to come, to meet competition from Nippon Paints, which entered the market two years ago.
Subcontractors owed money
BUILDING subcontractors in the Penrith region are owed hundreds of thousands of dollars, over the collapse of a building contract, at McCarthy Catholic College, in Emu Plains. The Parramatta Catholic diocese had contracted Austruc Construc-
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tions, at Pyrmont, to complete renovations but the company went into voluntary administration in January.
When operational, the project would employ 300 people.
Local man on Christie Report
NSW Trust has purchased a 5002-square-metre site, in Cowpastures Road, Wetherill Park, for $4.1 million, from Gregory International. The building has a floor space of 3,282 square metres reflecting a price of $1249 per square metre. As owner-occupier, NSW Trust will run the Top Tyres business from the property.
ALEX Gooding, a former executive director, of the lobby group, the Western Sydney Regional Organisation of Councils (WSROC) was an author of the Christie Report, an independent report on Sydney’s transport plans, partly financed by The Sydney Morning Herald. Mr Gooding was WSROC’s executive director for 12 years.
Five years to double turnover
THE family-owned Thomas Electronics of Australia Pty Ltd, at Milperra, aims to double its turnover of $24 million within five years by expanding markets for LCD displays it supplies to armed forces and commercial customers for use in cockpits, ships’ bridges and armoured vehicles More than three-quarters of the business is offshore.
The challenges of growth
CHALLENGES affecting Penrith’s economic growth include low local employment self sufficiency, below average post-school qualifications, infrastructure planning and delivery and suburbs such as North St Marys, St Marys and Oxley Park recording high unemployment rates. These issues were raised by the Penrith Business Alliance, in its submission to the NSW Government Western Sydney Jobs Summit in January.
Support for health hub
THE Penrith Business Alliance has sought NSW Government support and recognition of Penrith’s role and position as an emerging centre of excellence for the health and wellness industry, which created the largest number of jobs over the past 10 years.
Jobs at new precinct
AFERTON Ltd has submitted a project to the Department of Planning to establish an employment precinct for the development of warehouses, distribution centres, light industry and high technology uses, in the Minchinbury Employment Park Precinct, at an estimated cost of $60 million.
NSW Trust buys site
Accor group expands
ACCOR Hotels and Resorts has expanded its operations in Western Sydney, with two new hotels coming online this month – the Mercure Liverpool, adjoining the Liverpool Catholic Club, and the Novotel Rooty Hill, formerly the Holiday Inn Rooty Hill. Accor has Pullman, Ibis, Novotel, Mercure and Formule 1 properties across the region.
New facility costs $32m
PACLIB Management proposes to establish a $32 million printing, warehouse and distribution facility consisting of two buildings, with a total gross floor area of 59,000 square metres and associated infrastructure, at Erskine Park. Construction and operational jobs will total about 200.
Residential complex renamed
WATERFRONT residential complex, at Homebush, has been renamed Wentworth Point, following Japan’s Sekisui House purchasing a 75 per cent stake in property developer Payce Consolidated’s flagship development. In late 2009, a residential development with 215 apartments was released on the 8.3-hecrare site, overlooking the Parramatta River. Payce retains a 25 per cent stake in the project.
Strategic investment
MATT Eady, CEO, of Tourism Asset Holdings, said the five-star Pullman Olympic Park hotel, represented a strategic investment in the Sydney Olympic Park and complemented the company’s Novotel, Ibis and Formule 1 hotels in the precinct, which are managed by Accor Hotels and Resorts.
Mirvac’s $200m centre
THE Mirvac Group proposes to build a $200 million distribution centre for Woolworths, on the 60-hectare, former Hoxton Park Airport site, adjoining the M7 Westlink Motorway. Leighton Holdings and Mirvac bought the site in 2003. Mirvac will now buy the site from the joint venture and develop a 9-hectare Big W facility - the first in NSW and a five-hectare Dick Smith new national distribution centre. The facilities would provide 935 jobs when complete, with 300 “new employment opportunities”.
Consolidation to Moorebank
JOYCE Foam, a specialist manufacturer of flexible foam products for the furniture, bedding, automotive and other specialist industries, will base all its Australian manufacturing at its Moorebank head office, following a $10 million consolidation of its activities.
Ingleburn industrial buy
AN owner-occupier has bought a 20,000-sqare-metre plus property in Benson Road, in the Ingleburn industrial estate, for $6.6 million, which includes over 6,000 square metres of building area and about 10,000 square metres of hardstand area.
Printing facility assessment
THE NSW Department of Planning is considering a project by PBL Media Printing to operate a printing facility and associated infrastructure on an existing industrial site, in the Smithfield industrial area. The facility would produce around 64,000 tonnes of magazines and other printed material for public and wholesale outlets.
Pubs sold at discount prices
THE debt-stricken pub property trust, Redcape, formerly Hedley Leisure and Gaming, has sold two properties in Western Sydney, in the past three months, for less than cost price. The Cabramatta Club Hotel sold for $21.5 million, 22 per cent below its cost price and the Mount Druitt Cedars Tavern sold for $12 million, $1.4 million less than cost price.
Parramatta Business Access March / April 2010
News
Suncorp eyes middle Australia By Louise Durack WITH a vision to be the best bank for middle Australia, Suncorp is bucking the financial crisis with an expansion drive which is committed to Parramatta and Western Sydney. Having already moved its regional head office from Sydney to Parramatta, where it says it is closer to its customers and growth opportunities, the ‘A’ rated regional bank and the second largest general insurer in Australia is continuing to invest in Greater Western Australia with a series of new branch openings. Regional general manager, Suncorp Bank, Harry Hills, told PBA that it has identified the North-West corridor and Western Sydney as a perfect market for the bank, with Parramatta being the hub. New branches have already been opened in North Ryde, Macarthur Centre and in Hornsby, with more branches in Western Sydney being planned for 2010. Branches in Blacktown and Baulkham Hills are currently in the final stages and set for opening in April, says Mr Hills. The activity is part of a wider expansion campaign by Suncorp to spread its business further afield through QLD, NSW and also WA, a region where eight new network branches, predominantly centered on the Perth metro region, will open over the next six to 12 months.
Meanwhile in NSW, Suncorp is aiming to grow its market share from its current 1 per cent to around 5 per cent over the next two to three years, says Mr Hills. Apparently the expansion campaign, has, in part, been driven by the consolidation in the marketplace, with the recent takeovers of St George by Westpac and BankWest by Commonwealth Bank. “When these occurred, we realised that Suncorp was in a great competitive position to be able to pick up new clients and that although it is still regarded as a small bank, it certainly has the capabilities of a larger bank.” Asked how Suncorp has managed to maintain success during tough economic times when other banks may be shutting branches, Mr Hills says the bank has made some prudent decisions. “Suncorp made a difficult decision to de-risk itself and balance funding requirements, but it did this very well. Now we have over 70 per cent of our lending book funded by deposits. Therefore we have lower dependence on wholesale funding which provides us with a greater competitive position,” he said. NSW is now a particularly strong focus for the SME market, says Hills, and a big part of this is Suncorp’s commitment to the sponsorship of the Parramatta Chamber of
Suncorp’s Harry Hills
Commerce and the Business Excellence Awards. Stating his belief that the major banks “are doing a disservice to their customers in terms of rates, products and fees,” Mr Hills says: “We’re committed to this ongoing sponsorship because we’re leading the charge with very competitive products and a focus on SMEs. “We’re willing to have a chat with any SME that wants something more from their relationship with a bank.”
A homelessness partnership PARRAMATTA City Council has a Homelessness Policy which considers homelessness as not only a social issue, but also as one which impacts on local businesses and economic development. The research phase of Council’s Homelessness Policy and implementation plan has just been completed with the inaugural Parramatta Street Count of rough sleepers on the night of February 15. Over 100 volunteers participated, including employees from Parramatta businesses. Suncorp provided free drinking bottles to all volunteers. The Street Count is part of the research into homelessness being undertaken by the University of Western Sydney. This partnership will help Council be better informed in the development of Council’s homelessness policy and better equipped to provide improved social outcomes in Parramatta. The Street Count is one part of a body of research being undertaken by the Social Justice Social Change Unit at the University of Western Sydney, which also included a survey and focus groups for local businesses, and conversations with local homeless people about the tipping points into homelessness and the barriers to re-integration.
Loop rounds up million passengers PARRAMATTA City Council’s free city bus service, The Loop, recently carried its millionth passenger. Many of these passengers are customers of CBD businesses. To celebrate this milestone Lord Mayor of Parramatta Cr Paul Garrard was joined by Parramatta Westfield Retail Manager, Glenn Page and Parramatta Leagues Club Chief Executive Tullio Cofrancesco to present the Loop’s millionth passenger with a certificate, Westfield voucher worth $150, an Eels jersey, and flowers. “Parramatta City Council is extremely proud of what we have achieved with the Loop service in the past 18 months, and if it wasn’t for the support of our great sponsors Westfield and Parramatta Leagues club we wouldn’t be able to operate this important service,” said Cr Paul Garrard. The Loop service enables commuters to park at edge of the Parramatta CBD and connect to other train, bus and ferry services. The free service also compliments
other sustainable transport solutions already available in the Parramatta CBD; the human-powered Pedapod cycle taxis and Council’s car-share scheme. The Loop carries 70,000 passengers per month and only took 18 months to reach the million passenger milestone. A Council survey conducted last year found that 98% of passengers were more than satisfied with the service. “Unlike the centres of Sydney, Newcastle and Wollongong, which have similar services with State Government support, the Loop has had no State Government contribution to this vital public transport solution for Parramatta,” said Cr Garrard “We continue to call on the State Government to make the same investment in Parramatta as they have in the other major centres in order to provide and improve this service, helping to connect tourists, residents and commuters to the commercial, retail, recreational and dinning hubs of this great city.”
Lord Mayor of Parramatta Cr Paul Garrard, Parramatta Westfield Retail Manager Glenn Page and Parramatta Leagues Club Chief Executive, Tullio Cofrancesco present The Loop’s millionth passenger with a certificate
Events for every occasion 6 rooms at one amazing newly refurbished location celebrations special dinners luncheons trade expos business seminars conferences launches please contact our parramatta events team on 9633 5177 or email events@parramattarsl.com.au
Parramatta RSL
Parramatta RSL
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Parramatta Business Access March / April 2010
News Parramatta Chamber of Commerce
Office Bearers President: Immediate Past President: Vice-Presidents:
Trevor Oldfield AM Roman Dechnicz Mark Thompson Ron Ross Charles Batt Paula Roden Lorraine Baker
Treasurer: Executive Officer: Business Development Manager: Board Members: Ken Bailey; Lorraine Baker; Alan Cadman; Paul Dillon; James Dyer; Zac Hope; Walid Kalouche; Kim Neat; Margaret Ryan; John Watters Committees: Australian Business Week, Norm Owens. Business Helping Hands, Lorraine Baker. Finance, Charles Batt. Membership, Kim Neat. Retail, Judith McDonald. Tourism, Zac Hope. Welcome new members The Parramatta Chamber of Commerce extended the warmest of welcomes to new members. Member business are characterised by their commitment to business betterment, growth and community spirit; things the Chamber stands for and is active in. Members are lifeblood to any business organisation. They represent new opportunities for business contact, a source of valuable information on technology development, industry and market conditions, and future directions. Importantly members add weight to the vital lobbying activities the Chamber provides; the more members, the louder the voice and the more convincing the argument. So we welcome the following new members and look forward to meeting with them, dealing with them, socializing and networking with them – and lobbying on their behalf. REPRESENTATIVE
COMPANY NAME
SUBURB
TYPE OF BUSINESS
Mr Peter Mercouris
AISM-Australian Investigation & Security Management
PARRAMATTA
Investigation Security Training
Mr Keith Brailey
Blue Ribbon Uniform Service
RYDALMERE
Garment Rental & Commercial laundry
Mr Stephen Hilton
bpworkingcapital Pty Ltd
SYDNEY
Best Practice Working Capital Improvement
Mr Eric Tjoeng
CAD Partners
KELLYVILLE
Management & finance consulting
Mr Victor Prasad
Clark Rubber Blacktown
BLACKTOWN
Retail
Mr John Coorey
Coorey & Co Pty Limited
PARRAMATTA
Import, Distribution and Sales, Party Wholesaler, Hospitality Goods
Mr Tim Holloway
Idea-Testers Pty Ltd
KELLYVILLE
Market & Consumer Research
Mr Roger Byrne
Interface Financial Group
MELROSE PARK
Small Business Cashflow Finance
Mr Samuel Vella
Lake Parramatta Café
NORTH PARRAMATTA
Café small functions
Mr Roy Patching
Newsnet
NORTH SYDNEY
Digital Messaging
Mr Pierre Esber
P & S Plumbing Pty Ltd
OATLANDS
Plumbing
Ms Jean Kropper
Paper & Pixel
RYDE
Ms Michele Nevill
Priestley & Morris
PARRAMATTA
Ms Justine Bennett
Profit Growth Mastermind
MARRICKVILLE
Mr Justin Mulcahy
RBS Morgans
PARRAMATTA
Wealth Management
Mr Steve Morris
sourcIT Pty Ltd
SYDNEY
IT Managed Services
Mr John Howard
Spreadsheet Modelling Systems
WEST PENNANT HILLS
Software Development
Chartered Accountants
F o r i n fo r ma tion on t he Cha m be r a nd it s acti vi ti es contact 0 2 9 6 8 3 6 6 5 5 or e m a il i nf o@parram at t achamber.com.au o r v i s i t o r w e bs it e a t www.parram at t achamber.com.au
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The offending billboard.
Time does stop in Qld QUEENSLANDERS have banned a 13 metre billboard created by the NSW Business Chamber, from being displayed near Brisbane Airport. The billboard, featuring a couple on a sunny beach, is inscribed with the words “Welcome to Queensland” followed by “Subsidised by the taxpayers of NSW”, was to be displayed at the main entranceway to Brisbane Airport for February, but was banned at the last minute by the airport because it was supposedly “offensive” to sensitive Queenslanders. A similar ban was then also placed on the billboard by the Gold Coast Airport. Arrangements for the campaign had been in place since last October and the NSW Business Chamber had invited Premier Kristina Keneally to unveil the billboard on February 1. The billboard is the next step in NSW Business Chamber’s campaign to get a fairer deal for NSW from the distribution of the GST. The Commonwealth Grants Commission was due to hand down its recom-
mendation to the Federal Treasurer, Wayne Swan, in February on a new GST formula which is expected to heavily punish NSW. As part of the 2010 state revenue sharing review, the Commonwealth Grants Commission has proposed a change to the GST formula which will cost NSW $2 billion over the next three years. “If anyone should be ‘offended’ by the billboard it is the people of NSW who have provided almost $15 billion in subsidies to other States over the past decade “said Stephen Cartwright, CEO of NSW Business Chamber. “Since 2001/2 to 2007/8 NSW provided Queensland with a total of $860 million in subsidies and changes to the GST formula proposed by the Commonwealth Grants Commission will see NSW again subsidise Queensland.” “Robbing NSW of $2 billion will impact on essential services like teachers, nurses, police and fire-fighters and make it harder to fund important infrastructure like new road and rail links.” Mr. Cartwright said.
Archives chronicle city business PARRAMATTA City Council has business archives dating back to the 1840s. Council keeps Council minutes, rate books, valuation records, building registers and annual reports, amongst other invaluable items recording the business of Council in past years. There is also the little known Community Archive, a part of which contains business records from businesses of the Parramatta area. How can archives support businesses and business heritage? Parramatta City Council has business archives Archives can be used to dedating back to the 1840s. velop brand awareness and can • They can inspire the creativity of assist public relations, through images and documents from the company’s marketing teams by adding another dimenarchives; they illustrate the heritage and sion to contemporary products. Some Australian businesses that keep unique nature of a business history; archives include the Commonwealth Bank, • They can be used to represent a speFairfax Media, David Jones and Westpac. cific corporate identity, showing a business’ If you decide not to keep your compalongevity, especially if it is a financial instiny’s archives, consider depositing them in tution, which the public like to have dema specialist archive such as the Noel Butlin onstrated security and stability; • Corporate social responsibility is re- Archives Centre, which holds business reflected in access to archives for research cords. Council’s own archive also considers and in the display of historic items and redonations from local Parramatta businesscords; es. For more information, contact Louise • Archives provide evidential value Preston, Archivist, Parramatta Heritage & that can assist when faced with litigation claims; they are proof of intellectual prop- Visitor Information Centre on 8839 3325 LPreston@parracity.nsw.gov.au erty and trademarks; Parramatta Business Access March / April 2010
News
Be part of the solution THE Parramatta Chamber of Commerce Annual General Meeting will take place in April when a new board will be elected. Board positions are voluntary and last for one year. The Board is an active lobbyist to all levels of government on behalf of business and provides an effective networking environment for members. Chamber President, Trevor Oldfield AM has issued a challenge to the local business community to become involved with the chamber. “If you are in business in Parramatta, if you care about this city and its amazing future; if you have an opinion and feel that it is worth hearing and of course if you are
Hindmarsh in strategy role
a current member of the Parramatta Chamber of Commerce then get up from your seat and make sure you let us know that you are interested. Don’t just complain - be a part of the solution,” Mr Oldfield said. “Be assured however, this is not a task for the faint hearted. To be an effective Board member you must be able to commit your time and effort on a regular basis. “You must be a team player who is articulate and effective, aware of the key issues of the day and prepared to be involved. If this sounds like you, terrific, the AGM is not until April but nominations will soon be open; if you are interested then let us know.” For more information contact 9683 6655.
Realities of Parramatta employment forecasts RECENT media reports suggested that new employment forecasts for Parramatta were for only 10,000 employees, not the 27,000 to 30,000 under the NSW Metropolitan Plan. The original employment objectives of the Parramatta Regional Environmental Plan were for 20,000 new jobs by 2031. The NSW Metropolitan Strategy increased this to 27,000 to 30,000 new jobs, taking into account the state government’s goal of decentralising economic activity to growth centres such as Parramatta. Parramatta City Council’s own forecasts show that Parramatta could add between 30,000 and 40,000 new jobs by 2031. This is also supported by a study undertaken by Western Sydney Regional Organisation of Councils, as well as the UWS Urban Research Centre in 2009 which concluded that Parramatta will likely do better than the targets in the NSW Metropolitan Strategy. Media reports claiming to show Parramatta as adding only 10,000 new jobs by 2031 were based on data from the Transport Data Centre. The Transport Data Centre revised forecasts show that Parramatta will grow from an estimated employment base in 2006 of 107,000 to just over 129,000 in 2031. This is a growth of only 22,000, and down on the projected 30,000 in the Metro Strategy. However, the Transport Data Centre forecasts were based on work done by Access Economics which was performed in the middle of, and took account of, the then expected impacts of the Global Financial Crisis. Furthermore, the Census returns in 2006 showed Parramatta as having an employment base of just over 88,000. The Transport Data Centre increased this number to 107,000, suggesting that the Census data was under reporting the true
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employment numbers in Parramatta. If the Transport Data Centre numbers are correct in suggesting that Parramatta had a lot more employees than the 2006 Census showed, then Council’s own forecasts and those of the UWS also increase. “Whichever way we look at the data, Parramatta can still stake our claim on an expected growth of 30,000 jobs by 2031 provided that the city is supported at the state government level by enhanced transport infrastructure, and from the development industry through additions to the city’s commercial stock,” said Parramatta Lord Mayor Paul Garrard. To facilitate development, Council is looking at providing density bonuses to developers and throwing away the unnecessary floor space restrictions. Employment growth however, will ultimately be correlated to where the focus of improved transport will be. The fundamentals of economic growth are the free movement of goods, services, and people. Improvements in infrastructure to and around Parramatta will have a positive influence. This was the key issue from recent media reports. Lobbying for more infrastructures to support people coming to Parramatta is vital for the city’s business community. The State Government is currently preparing a discussion paper to review the Metropolitan Strategy and the employment targets for NSW’s ‘Regional Cities’, including Parramatta. When this discussion paper is released, there will be greater transparency around the state government’s projections for employment growth in Parramatta. - Bruce Mills, Economic Development Officer, Parramatta City Council.
Nathan Hindmarsh with fans at Thomson Ford
PARRAMATTA icon second-rower, Nathan Hindmarsh, poised to become the Eels most capped player, has been appointed as strategic coordinator to the Western Sydney Academy. The appointment has sparked speculation that Hindmarsh will be the “Champion” of Rugby League as it tilts with AFL for the hearts and minds of Western Sydney football followers; a role he has been at pains to play down. Just wanting to put something back into a game that has given him so much and a community that idolises him, Hindmarsh declined to enter into a slanging match with AFL
Team GWS Coach, Kevin Sheedy who claimed he had never heard of Nathan Hindmarsh. NRL director of marketing, Paul Kind, said Hindmarsh’s appointment is full time and he will be working at least two days a week from his desk at the Academy headquarters. Parramatta based Thomson Ford, Hindmarsh’s personal sponsor is delighted at his appointment. Trevor Paterson, general sales manager said: “As far as I am concerned this is well overdue on several fronts; to finally have the recognition that he deserves for his incredible work rate, skill and personality.”
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arthurmurrayparramatta@gmail.com www.arthurmurray.com.au Parramatta Business Access March / April 2010
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News
Parramatta open for Discovery LAUNCHED by Parramatta Lord Mayor, Cr Paul Garrard at the 2010 State of the City Address, www.discoverparramatta.com is Parramatta’s new online presence - a way of bringing together all that the city has to offer. Parramatta City Council’s Economic Development Team have done a lot of market research over the past 12 months, and it’s all saying that people aren’t aware of the events and activities on offer in Parramatta. This is a missed opportunity for the city and local businesses. To begin turning that around, www.discoverparramatta.com showcases Parramatta’s events, culture, sports, interesting places, dining, accommodation, and more. This new website is a first for Parramatta with over 200 local hotels, restaurants, retailers, heritage operators, large and small venues, pubs, clubs, and local event producers having had input into the site. www.discoverparramatta.com is another step in Council’s commitment to presenting workers, residents and visitors with a strong sense of place by promoting Parramatta’s diverse range of experiences. On the site you’ll find: • Consistently updated special features on the home page detailing upcoming events, appearances, launches, and openings;
Local businesses have told Council that Parramatta needs an online presence, a way of bringing together all that the city offers in terms of leisure and entertainment.
• A searchable event calendar promoting all the events and activities taking place in and around Parramatta City - including Rosehill Gardens, Parramatta Park, Parramatta Stadium, and Riverside Theatres; • A dedicated kids section with information on school holiday programs; • Eight searchable dining directories from the 2010 Parramatta Dining Guide; • Information on places of interest including heritage properties, pubs and clubs, and sporting facilities; • An accommodation finder featuring Major Sponsor
premium, budget, boutique and apartment style accommodation options; • A venue hire finder that includes all of Parramatta’s hotels, community halls, clubs, and the Grand Pavilion at Rosehill Gardens; • Travel information with maps, car parking guides, and free City Loop bus information; and • Competitions and promotions throughout the year. Visit Discover Parramatta at www.discoverparramatta.com
Bank chips in for golf day BANK of Queensland manager Graeme O’Kell and owner Diana Brecely (pictured) have generously started the ball rolling to sponsor the Parramatta Chamber of Commerce 14th Annual Golf Day Fund Raiser. A number of local charities benefit from the funds raised on these fun days and, Although decision on this year’s recipients is yet to be finalised it is likely that children’s charities will benefit. Seventy percent of funds raised will be divided between two charities and the balance is retained for charitable donations to local charities throughout the year. Sponsors are the lifeblood of such events and Graeme and Diana’s generosity is a call for other community minded businesses to join in and make the day the success for our charities.This year’s the event will be on Tuesday, May 11 at the Oatlands Golf Course with a shotgun start at 8:00 am. Contact 9683 6655 for details.
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Parramatta Business Access March / April 2010
Insight
Support for rates levies Trevor Oldfield AM JP President, Parramatta Chamber of Commerce I HAVE written to Parramatta City Council CEO, Dr Robert Lang, in support of the continuation of these two key rates levied on businesses. While the rates may seem, initially, to be an impost on business the benefits returned to the business community are too important to be discontinued; as an excerpt from my letter says: “Whilst the Chamber will always express concern about any imposts on business owners we nevertheless would be more than disappointed and strongly object should the cancelling of this levy result in a reduction of services and programs currently performed and undertaken by council’s economic team. We believe that the current team is doing excellent work and the support of their projects by the Chamber is essential to our continued growth, communication and relationships. “The Economic Development Team and the marketing of the city we believe are vital elements for our city’s future growth and we need to ensure that the team continues to work on the programs that they
have started to further encourage investment and growth. The current plans to aggressively attract future industries to Parramatta as well as continuing to attract major events will obviously generate more business for our business community and these initiatives are fully supported by the Chamber. “We agree that significant achievements have been made in the last 10 years and the Chamber is keen to ensure that these achievements can be maintained and built upon. “Should the Minister for Local Government approve the continuation of the EDR and CBD Infrastructure rate we would ask for Council’s assurances that there will be no increase in the rate and that the Chamber would be able to have some input to assist with the establishment of priorities for future economic development.” Parramatta City Council is planning a forum on these issues and former Chamber President Roman Dechnicz, has been invited to address the forum.
Parramatta must be connected By Councillor Paul Garrard Parramatta Lord Mayor PARRAMATTA City Council regularly meets with local State and Federal Members of Parliament to discuss our plans for the future of our city and to raise important community concerns that need Government attention. At our meeting last week, the NSW Government’s sudden decision to scrap the West Metro and the Parramatta to Epping rail-link, and its impact on Western Sydney commuters, was at the top of our agenda. As a growing employment centre, located in the heart of the metropolitan area, Parramatta must be connected to the rest of the region via an integrated transport network, which recognises Parramatta as a destination - not a departure point. One point that all our local MPs agree upon; is the urgent need to complete the missing Parramatta to Epping rail-link, which would immediately allow our local businesses to access the vast workforce catchment of Sydney’s northern districts.
All agree that the north-west rail link is a step in the right direction, but for our city the Parramatta to Epping rail-link should be the most immediate priority for supporting and accommodating our future growth. Unfortunately the NSW Government’s recent transport announcements indicate that the missing Parramatta-toEpping rail-link is not a priority, so we will continue to lobby our local MPs until we get it to the top of their agenda. Council will continue to discuss transport issues with our local MPs and will ramp up our Destination Parramatta campaign in the lead up to the State and Federal elections, to gather support for improving our rail, bus, ferry and cycle services. For more information about Destination Parramatta and to join Council’s fight for improved public transport sign the online petition at www.parracity.nsw. gov.au
Factoring invoices is not for all businesses but it can help MANY years ago in my first selling role I was fortunate to work for an extremely well run business that supplied builders. In a competitive industry at a competitive time orders were like gold and new accounts were prized. We had a good sales team and an excellent office to back them up; good processes and scheduling for two efficient factories allowed a steady flow from production to delivery. At only one point did an order occasionally stall; in the credit department. If the credit manager said no to the order going into production or on the truck for delivery, then that was that; debtors were to be controlled. Cash flow ruled. For many years in sales I resented the
power of credit managers who seemed to be more of an enemy than competitors; but I learned the error of my ways. Delayed or delinquent debtors are a scourge, most especially to a small business. In business your debtors pay your debts and if you have to pay 30 days to your creditors then your debtors need to do the same for you. If your average days for debtors go beyond those 30 days then you need to drag them back in or make allowance for the disruption to your cash flow and your relationship with your suppliers. The first step is to be as diligent in advancing credit to a client as were those credit managers who bedevilled me for all those years. However diligence can’t always foresee the occasional hiccup that business encounter and it is the nature of some industries, and indeed often the larger clients, to
pay slowly. Smart businesses make allowance in their forecasting for bad debts being written off but how many factor in the probability of the money flow slowing. Too often businesses who find themselves in these situations or with this type of clientele resort to borrowings, usually via an overdraft arrangement. Then, rather than run the risk of offending a slow paying client the convenient overdraft becomes more convenient and is made larger. These days the factoring of invoices is a lot more simple and user friendly and for small business dealing in large sums to large clients can be a handy tool. Say a small business has a client doing around $20-30K a month and paying on average about 45 days then those invoices can be sold at a discount to a factoring company, with the amount of discount
By Paul Dillon
dependant on the days outstanding. Such activities should not be confused with debt collection or a dumping ground for bad debts. Those are very different and usually more costly activities. Factoring or discounting invoices is more like oiling the mechanism for smooth running. Many businesses are reluctant to give away their money, but is it really their money if they don’t have it? Try convincing your creditors that everything is okay because you are owed money and when it comes in you’ll pay them. Factoring isn’t for every business and not every business is in the target market for factoring firms, but for those businesses that it suits, it can suit well. * Paul Dillon is a board member of the Parramatta Chamber of Commerce and President of the Parramatta College.
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News
Lights off at Earth Hour AT 8.30pm on Saturday, March 27 Parramatta City Council will again be turning off the lights for Earth Hour. Council is eager to see businesses across the city participate in the event, and demonstrate the city’s corporate commitment to sustainability with a positive message of action. In addition to supporting an important and truly global event, four key reasons for your business to participate are: • Earth Hour will help you to identify long-term savings in energy costs & help to reduce carbon emissions. • Earth Hour itself does not involve significant costs for participating companies. • Earth Hour is a great communication platform for you to show your company’s commitment to reduce carbon pollution and other activities towards a sustainable future. • Participation demonstrates to employees, customers and suppliers that your company is part of the solution to climate change – not the cause of it! In addition to Earth Hour, Parramatta City Council offers commercial office tenants entry to the CitySwitch Green Office Program that provides ongoing resources and support for office energy efficiency.
By joining CitySwitch, signatories join a growing network of like-minded businesses committed to improving the environmental performance of their offices. Signatories commit to achieve and maintain an accredited four stars or higher NABERS Energy tenancy or whole building rating. The CitySwitch Commitment can be achieved by simple, easy to implement actions that increase energy efficiency such as: • Activating sleep mode on equipment where applicable • Upgrading lighting controls including occupancy sensors and timers • Installing energy efficient lighting and office equipment • Changing to flat screen monitors • Educating staff on the benefits of energy efficiency • Purchasing GreenPower from renewable sources To find out more about CitySwitch visit www.cityswitch.net.au or contact Karen Kirk on 9806 5677 or email kkirk@ parracity.nsw.gov.au For information on Earth Hour, visit www.earthhour.org.au
Sirens sing for Kids West FORMER NSW Premier, Nathan Rees, will launch the Kids West Gala Dinner at a post-concert cocktail party at The Sebel Hotel Parramatta on Tuesday, March 16. The hour long concert at the Parramatta Riverside Theatres will feature Celtic supergroup, The Seltic Sirens (pictured above). The finale will be the premiere performance of the song, “Children for the Future” written especially for Kids West by the Seltic Sirens. The concert will be followed by the March of Light, where the audience will carry green light sticks across Church St to the Sebel Hotel; a symbolic lighting of the way for people to support Kids West. Kids West is a niche charity that has been raising money for much needed specialist equipment for Children’s Hospitals
in Western Sydney for several years and has purchased equipment costing more than $4m to date. Kids West CEO, Trevor Oldfield AM said: “This is a great opportunity for us to raise the awareness of the general public to the plight of these children. We have been able to purchase very specialised life-saving humidicribs and other equipment but people don’t realise how much is needed; for example just one special bed can cost $50K.” Mr. Oldfield thanked those organisations who have come together to assist in organising these events, Vanilla Bean Event Management, The Sebel Hotel Parramatta, gyrate design and the Seltic Sirens. For bookings contact Kids West on 02 9893 8808 or visit http://www.kidswest. org.au
Kids west invites yOu tO a night OF illuminated fund raising jOin the seltic sirens On an intimate magical musical jOurney FOllOwed by the launch OF the inaugural Kids west gala ball 2010
A
celtic cross-over supergroup of virtuoso award winning singers and instrumentalists. be excited by a new and unique sound with stunning arrangements of traditional and popular songs, original compositions and captivating dance. traditional instruments, including three harps, blend with the beautiful harmonies and soaring soprano vocals, bringing a new life to old favourites and a totally new experience in storytelling performance pieces – featuring a song specially written for this occasion.
Funds raised will gO tOwards liFe saving equipment FOr the centre FOr newbOrn care at westmead hOspital KW140 Access Ad.indd 1 11 www.parramattabusinessaccess.com.au
date: tuesday 16th march 2010 Venue: riverside theatres parramatta for a performance by the seltic sirens followed by canapés and drinks at the sebel, church st. parramatta time: from 6.45pm ticKets: $95 per person For further information please contact Kids west phyllis Fernandes on 9893 8808 or phyllis@kidswest.org.au
Our Kids are Our Future 2/3/10 5:10:07 PM
Parramatta Business Access March / April 2010
State of the City 2010
Team Parramatta Comes Of Age This is an edited version of Parramatta Lord Mayor Paul Garrard’s State of the City address held in front of a record audience at the Sebel Hotel in February
I WELCOME you all to the 2010 ‘State of the City Address’. This is my fifth term as Lord Mayor of this great city, and in that capacity I begin my analysis of Parramatta’s performance, it’s challenges and achievements. Parramatta … a city noted for its Pride, Passion and Experiences. A city noted for its Progress. When I gave the ‘State of the City Address’ some years ago, I said: Rome wasn’t built in a day”. That was in recognition that small opportunities are often the beginning of great enterprises; and when we look around Parramatta, how right we were. Yes, Parramatta has grown up since then. But today, let us examine the city’s well-being. Let’s examine its health, its pulse, and its heartbeat. Let’s test its senses. Its reactions and co-ordination, and just how acute is its focus? Do we have that 20/20 vision for city, and what of our psyche? Well, Spiro Agnew, the former American Vice President said: “If you’re not schizophrenic these days, then your just not thinkin’ right”. The 19th century was a century of industry; the 20th century was certainly the century of communication and the 21st century must truly be the century of health and healing.
City’s report card
So here today, it makes sense to theme our city’s report card, around health. At this point, let’s acknowledge the brilliant minds, which lead this revolution in health and healing, at our Westmead Medical Research Precinct.
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At places like the Millennium Institute, and others within the Westmead BioMedical Research cluster, they are making world-first discoveries. I acknowledge the distinguished work they have done with genetic engineering, and biochemical reactions; work which has exploded the discovery of new techniques, processes and medicines. Only last year The Children’s Medical Research Institute made a discovery that will lead to a blood test for cancers, that has the potential to assist in the early diagnosis of up to 15% of aggressive cancers. This is happening in our own backyard! Is there any wonder, our Health and Community Services Sector, is not only home to the largest health precinct in NSW, but one of the world leaders. Let’s do a scan and analyse our Region for a moment. Parramatta is Australia’s fastest growing region and gateway to nearly two million people. When it was said, “go west young man” they certainly knew what they were talking about. Parramatta is at the heart of this metropolis, and that’s why we need to be at the top page of the Government’s agenda. And the next 20 years will be an enormous challenge. We have 500,000 more residents and 34% more office workers living within a 15km radius of Parramatta’s CBD, than Sydney. But people, or should I say patients, are being left out in the cold. Why? Because the State Public Transport System has exposed the State Government’s abandonment of their vision of Sydney, being a ‘city of cities’. Let me explain. It is fact that 5.8 million car trips are made into Parramatta each year; twice the number made by trains and buses, combined.
Better transport
In a survey carried out last year, 56% of business respondents said that better transport or more car parking, was the
single most important improvement they wanted to see in Parramatta. Clearly, more car parking is not the answer! It’s treating the symptom and not the disease. In response, Council has done some heady thinking on the issue. We have a campaign called, ‘Destination Parramatta’, and it’s our way of holding the Government to account, our way to ensure that they support Parramatta’s growth as an employment destination! ‘Destination Parramatta’ is about targeted lobbying - with business - based on our intimate understanding, of the needs of our city. This lobbying is important. Lobbying will improve our circulation of workers, residents and visitors. It will enable us to grow. Today, I am asking you to visit council’s website and sign our ‘Destination Parramatta’ petition. I want ‘Team Parramatta’ to make their voice heard. I am sure that we are all disappointed with the “Metropolitan Transport Plan”, leaving out the Parramatta to Epping rail link. Let me make it clear, that the Western Express will do little to improve public transport to Parramatta, with journey time savings of about one minute from Blacktown, three minutes from Penrith and five minutes to Sydney To me, there are four principle needs for a transport plan; a plan that properly supports Parramatta’s status as a regional city and major employment hub. And the plan is this: • Fund the West Metro to cut travel time from Five Dock, Leichhardt and Camperdown, by up to 30 mins. • Complete the Chatswood to Parramatta Rail Link. • Create a Rivercat Service which has a modern fleet, and actually picks up at Meadowbank, Abbotsford, Haberfield and the other peninsulas on the river. • Strengthen our existing bus networks to bring people from the Hills District and restore the Cumberland Line, to bring people from the South West. All the facts and figures point to the same prognosis - we run the risk of block-
ing our arteries. We run the risk of stunting our growth. We run the risk of suffering from a congestion, which can ultimately, work against our vitality. So, to all my patients out there, that’s my transport brief for Parramatta - better public transport and more public transport. We’ve had our Integrated Transport Plan on exhibition since last November. This is Council’s strategy for managing road congestion, and it will be finalised over the next two months. It calls for cross-city bus services, so that people can easily get to Westmead or the University of Western Sydney. It investigates relocating commuter car-parking from the city, to new multistorey car parks on the city edges. It promotes Park and Ride, together with our own free city transport. And it recommends that council upgrade our pedestrian crossings, improved lighting, improve laneways and the creation of a network of pedestrian routes.
Promote healthy business
But let’s stop the complaining for a moment, and ask, what are we doing, about our transport needs? What prescription or local panacea is being prescribed for Parramatta? Well, in January of this year, we had our 1 millionth patient being treated with a new procedure - The LOOP. No, if you’re wondering, this is not some type of contraceptive to control the masses, but instead a catalyst to increase the visitations to Parramatta and to promote healthy business. ‘The Loop’, is a critical transport investment. It is fully sponsored by Westfield, Parramatta Leagues Club and Parramatta City Council and reflects the keen strategic alliance and relationships, that I can state proudly exists, between council and those organisations. ‘The Loop’, enables commuters to park at the edge of our CBD and connects to public transport and will play an even
Parramatta Business Access March / April 2010
State of the City 2010 more pivotal role into the future. I believe that council should not be running bus services, and I also believe that the State Government must make the same investment in Parramatta as they have in the State’s other major centres; an investment where in Newcastle, Wollongong and the Sydney CBD which is supported by the State Government at no cost to Council. I’ve placed an emphasis on transport today because Parramatta businesses are the largest regional employer, and Parramatta is a crucial employment centre, with 90,000 people working in the city. This figure is increasing significantly, with the relocation of several major corporations and government agencies coming to Parramatta. We’re already the largest regional economy with a gross regional product in 2007-2008 of 12.2 billion. Today, that figure is up nearly 9% to 14.2 billion which is 6% of the Sydney’s economy. And the State Government has targeted us with 30,000 new jobs over the next 20 years. As Chair of the Parramatta Strategic Co-ordinating Committee, to over see the implementation of Parramatta Regional Environment Plan many years ago, I am committed to ensuring that all parties to Parramatta’s future are kept honest. I don’t believe that I am gilding the lily here • • • •
Sydney Water Police HQ Bus/Rail Interchange Justice Precinct
Rising to the challenge
I stand before you today, and promote the fact, that we are a most productive local economy and Parramatta is now rising to the challenge, as one of the most productive economies in the State with economic value add per employee, above both the Western Sydney and State Government benchmarks. And if we look at just our information and finance industries, this is where Parramatta has developed into a specialised and highly productive centre. The value add per employee in that sector is almost $150,000 per annum in Parramatta. One thing is clear; you can’t address the 21st Century challenges, with 20th Century infrastructure. The way pipes carry water and sewage, the way that a plumber would see them, for instance, is about to change, because these pipes will carry digitised signals. Upon being elected Lord Mayor, I announced a major mission to strengthen the city’s economy and transform Parramatta’s neighbourhoods, by providing wireless internet access throughout the city, a bold initiative that will provide a connected environment for business, job creation and information sharing. Economic research shows that public infrastructure investment is a powerful driver of business productivity, investment and economic growth, and if Parramatta wishes to join that list of global cities and join the likes of Birmingham, Barcelona
and Rotterdam, and many more then we need to do things differently. This is not just pipe dream. Already four of our libraries have been transformed into wireless hubs, so that the child who has the free government laptop but no internet at home, can actually do their homework. We’re setting new standards. In taking Parramatta down this path of being a ‘Smart City’ I’m seeking to have us partner with the Federal Government in its $43 billion national broadband network roll out. Parramatta has several smart corridors for example legal, education and healthcare precincts, which all lend themselves to pilot areas or program, which may be attractive to industry.
The knock out punch
While Parramatta is under obvious pressure from the likes of North Ryde and Norwest, our knock out punch is the great number of sites we have to develop. While our vacancy rate of high grade office space is low, this can be seen as a weakness as well as strength and getting the balance right is important; making the attraction, providing the opportunity and having the procedures is important. Parramatta has increased its office stock by 80% over the last 20 years. In 20 years time, to address that target of an extra 30,000 jobs, we will need the equivalent of an additional 30 skyscrapers. North Ryde and Norwest can’t match that. We’re also cheaper with our average gross effective rent providing a savings of $318 sqm per year, compared to Sydney. Look at Suncorp Bank. They could have taken another floor in the Sydney CBD instead of investing in Parramatta. By being here - closer to their customers and the growth opportunities in the Greater West - they’ll invest the savings back into the local community through improved services and more staff. With our ‘Smart Cities’ approach and our way of being different, I’m satisfied that we can out do our opposition in attracting business and investment. I’m planning to promote this point further, and proposing a ‘Smart Cities’ conference later this year in Parramatta. Financiers are reluctant to lend capital unless there is a very high level of pre-commitment. Today, I call on speculative property developers, to contact us so council to can tackle the hurdles, to fast-track proposals which are ‘State of the City’ type applications and assist where possible on going forward. We are trying hard to eliminate the red – tape. And right now, Council is looking at providing density bonuses to developers and throwing away the unnecessary floor space restrictions to get development going. Again, I call on speculative property developers to contact us with your input. In reducing the red tape, we have reduced DA assessment times by over 30%. There’s still more to do and we will get better and better, but we need the State Government to get out of Local Government’s way so
we can get on with the work of fast-tracking approvals. On another front, equally important, we have worked hard to promote Parramatta as a City able to present well to our visitors. We have introduced a world class system titled ‘Walk Parramatta’. It consists of maps and signs to help people navigate the city and better discover our attractions and services. Further, we have attracted a $500,000 from the Federal Government to help tell the world about Parramatta. Over the last eight months, we have worked with 133 industry stakeholders to answer that question; ‘What will it take to make Parramatta the place… where people want to visit’. Let’s show the people that ‘Parramattazz’. This year, we will start showing investors that this city, the home of the mighty Eels, that Parramatta is a better investment alternative then alternative business parks.
Core industry cluster
It’s the first time we’ve ever worked with a core industry cluster on such a massive scale. This funding, is also providing an enormous amount of market research, to understand the barriers and motivators for
“With our ‘Smart Cities’ approach and our way of being different, I’m satisfied that we can out do our opposition in attracting business and investment.”
State of the City 2010
Parramatta Lord Mayor, Paul Garrard with Parramatta Chamber of Commerce President Trevor Oldfield
“I ask for your support, as we seek to extend these rates and more importantly, I ask for your support in helping to determine the most effective way to use these funds for the benefit of us all.”
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visiting Parramatta. We’re nearly ready to launch our first ‘Heritage Tourism’ strategy. This will include self-guided heritage walks using digital media – just download an MP3 to your personal device. And it will identify opportunities to increase the attraction of assets like the river foreshore and parks. We’re doing research and feasibility studies as we speak, to seed new tourism enterprises. Major events are a key part of bringing life to a city. They also attract media attention and reinforce, positive messages about a city. Last year we saw the city bond with the Eels, as we celebrated our grand finalists in true Parra style. And on ‘Fans Day’ this Sunday, we will continue that party, and on behalf of the city, I wish them all the best. In January, we saw the superstar AR Rahman attract 50,000 people to Parramatta Park, who danced the night away as Parramatta came of age, as an event lead city. This year we will continue to strengthen our partnership with Events NSW after attracting a new five day festival called ‘Parramasala’ - a new national festival of South Asian Arts, including sports and business activities, right here, in Parramatta. We are carving new relationships with the RAS at Sydney Olympic Park and a renewed agreement with the STC around the Golden Slipper. In June this year I will lead a trade mission to China to promote Parramatta as a destination for inbound investment and to facilitate commercial opportunities in the world’s fastest-growing emerging market. We must go to where the markets are. We are also in campaign mode, working to attract the NSW Tourism Awards to Parramatta, for next November.
Ladies and Gentlemen, before I conclude this year’s State of the City Address, I want to tell you about three important issues. Firstly, I believe that the debate about Parramatta having a publicly-elected Lord Mayor for a full four-year term, is a vital business concern. The business community should participate in this debate because it is really about how this city will be lead, into the future.
Publicly elected mayor
To me, debating this issue is a sign of the grown-up city, a city that has come of age. Secondly, that this Council is absolutely resolute - our $1.6 billion Civic Place project is going ahead. We’ve cleared the hurdles of a High Court action and the Global Financial Crisis. Today, I announce, that the Planning Approvals for stage one are set to be processed this year, with construction to start in 2011 and completion in 2013. Council is in discussion with each of the remaining Darcy Street owners. We are negotiating in good faith, but we will not back away, from the hard-headed decisions needed to ensure this mammoth project gets underway. The Civic Place project is central to providing desperately needed commercial and residential space to the city and I can’t wait to get that spade into the ground. Some 30,000sqm of commercial office space will be released in 2013 and another 40,000sqm between 2016 and 2018. Thirdly, council will be making an application to the Minister for Local Government to continue collecting a number of special rates. Over the last 10 years, these rates have
benefited our business and residential communities through urban renewal projects and the promotion of the city. We have supported the relocation of over 4,000 new jobs, helped develop our dining precincts through the very popular ‘Dining Guide’, and recently created ‘Discover Parramatta’ – a one stop online shop for business, residents, investors and visitors to see what this great city has to offer. Our Economic Development Special Rate costs each business the equivalent of a cup of coffee per week and, as this scan shows, Parramatta spends much less than other similar cities, on economic development. I ask for your support, as we seek to extend these rates and more importantly, I ask for your support in helping to determine the most effective way to use these funds for the benefit of us all. By the middle of last season, the Parramatta Eels were third-last. Some people said that they were going to be the wooden spooners. But the Eels embraced their vision and qualified for their first Grand Final since 2001. The Eels showed us that success is a contagious feeling. Success is also hard work – work which is made easier through partnerships. You are part of ‘Team Parramatta’. I believe that your Council in partnership with ‘Team Parramatta’ has demonstrated its creativity, demonstrated its innovative approach and demonstrated only too well, that it thinks fast and more importantly, acts quickly.
Parramatta Business Access March / April 2010
Technology
Security breaches cost dearly
Hybrid sourcing model
DID you know that many businesses are still open to security threats such as Viruses, Spam, Identity Theft, Trojans, Spyware, etc. In 2007, the cost of security incidents for Australia businesses was $600million . The most common breach, affecting 64% of businesses, were viruses and malicious attacks. Note that most of the companies affected had antivirus and firewalls installed to keep out intruders, yet managed to get impacted anyway. The report is consistent with a more 2008 study from Australia Bureau of Statistics, showing the key impacts of security breaches as: 1. Unavailability of services (60%). 2. Corruption of hardware or software (48%). 3. Loss of Staff productivity (44%). 4. Corruption or loss of data (32%) The survey also pointed out that a small number of Australian businesses use data encryption (5% to 15% of SME) as a way of protecting their data compared to USA (60%). The estimated financial loss for a medium sized business ranged from $3,000 to $500K per incident, with some having more than five incidents per year. The biggest threats according to the survey are viruses, malicious attacks, spy ware and theft (hardware and identity). Businesses need policies and standards in place on who to trust in e-mail, use of memory stick and other forms of portable devices that could introduce problems into the network. Recently, we had a client who added a “free anti-
* Anna Paradissis is a director of Source IT.
By Dexter Duncan spyware” package based on an offer from a website. The “free anti-spyware” was actually a virus posing as a Microsoft package. This type of virus needs to be prevented with standards in place for your users. We came across some interesting scenarios where computers have been compromised and used for things other than business (like gambling, porn, etc.) These occur either internally or externally. With so many avenues of access available, it is sometimes difficult to know if the software you use or policies you have in place are doing the job. The best way to check is to conduct a security audit of your premises. Check the integrity of your network and security systems by performing an audit which includes at a minimum, 1. Penetration test – test if intruders can easily enter your network. 2. Infrastructure audit – check Antivirus software system, anti-spam, security of server location and network design. Are they up to date and are they the best protection for your environment? 3. Check policies and adherence for media back-up, passwords, removable storage devices (USB keys) and business continuity. Do not be fooled that achieving the above is easy. If you have experts on-site, you can likely do yourself, however, it is a good policy is to have an external source complete your audit. * Dexter Duncan is a principal at Empower IT Solutions. Contact him at dd@empowerit.com.au
By Anna Paradissis
OUTSOURCING IT functions makes sense for businesses of any size. Outsourcing saves money, provides fast access to technical experts, controls headcount, and enhances business productivity and growth. In addition to out-sourcing there has been a boom in off-shoring IT functions; most recently to India. Outsourcing and off-shoring can lead to increased efficiencies and high profits but must be handled correctly. Outsourcing within Australia is becoming popular and over time the move to off-shore will become more popular. With economic challenges and the need to rationalise, overseas businesses will soon value from the benefits in off-shoring down-under. In today’s market, businesses should combine a hybrid or multi-sourcing model to ensure their continuity and cost reductions. IT outsourcing is today recognised by virtually all major corporations as the best way to control costs and minimise technical risks for a wide range of IT services such as designing network infrastructure, delivering desktop support, network security, or building Webbased portals. Whether businesses are trying to survive and sustain during challenging times or thrive during a recovery, outsourcing allows IT managers and internal business owners to react more quickly to changing circumstances than is possible by building up a large, multi-purpose, cross skilled IT team. Outsourcing makes sense for everybody, but small companies need an outsourcing model that is flexible, affordable, and aligned with their business goals.
Are your IT Systems as optimal and efficient as they need to be? A health check can help identify problems within your infrastructure and assist you in future proofing your platforms. SourcIT acts as an IT department for businesses that do not want the cost overhead of internal resources. We support, maintain and implement IT systems and solutions. To book an appointment, call us on
1300 773 880
Free IT Systems Health Check for Parramatta Chamber Members that book before 26th Feb 2010.
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Parramatta Business Access March / April 2010
Dining and Entertainment
It’s pizza by demand President’s Choice THE customer is always right and nowhere more so than at Ray & Lou’s cafe & grill, featuring fine Mediterranean cuisine. Pizza dishes have now been added to the already impressive menu of selections after customer demand made it obvious to Ray & Lou that this was the extra complement they needed for their broad-based clientele. So many international dishes make up what we now accept as modern Australian cuisine but apparently we have come to expect pizza as a staple. No problem for Ray & Lou. Situated in the heart of Parramatta’s renowned eat street, Ray & Lou’s has the popular al fresco seating amid the bustling dining strip but inside, a warm and relaxing ambience pervades. The service is first class, fun and friendly without being intrusive. With so many wonderful prospects on the menu it is good to have someone serving who can talk you through the dishes and help with the decision. The restaurant’s signature meat, seafood and meat and seafood platters to share do help with deciding what to eat, but that’s just a main course; the entree selection is classic Mediterranean and there is a choice of exotic breads and sauces to accompany your meal. Other main courses come with mash or fries but there is also a fascinating choice of side dishes that caters to the different tastes of diners. Pastas, salads, risotto, breads, sauces and sides and platters piled with meats and seafood and of course, the pizzas diners asked for.
Get on stage so others can
Bowled over at RSL RECENT renovations at Parramatta RSL have opened and a whole new world of dining, entertainment and corporate innovation to Parramatta and now the club has introduced barefoot bowling. Barefoot bowling has become popular way to host corporate events with the Western Sydney Business Connection recently holding their Connection X 2010 launch as a barefoot bowling event. The Australian Red Cross Blood Service also recently held a corporate thank you as a barefoot bowling event. Barefoot Bowling is enjoyable, affordable and accessible. So why not get your feet on the grass and have some fun with barefoot bowls. It’s lawn bowls gone casual and a fantastic
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Owners of Ray and Lou’s. Top Lou and above Ray in the kitchen. Left: Parramatta Chamber of Commerce President, Trevor Oldfield AM, Parramatta Business Access publisher, Michael Walls and Chamber deputy president Ron Ross enjoy lunch at Ray and Lou’s.
social event. The dress code is generally relaxed and some groups theme it up. The friendly team at Parramatta RSL will also teach you how to bowl as part of your overall bowling experience. Castle Hill RSL house president and chairman, Warren Glenny said: “Barefoot Bowling is a great social opportunity for birthday parties, corporate events, and family get togethers. Parramatta RSL’s friendly team can create an amazing Barefoot Bowling Experience for you”. For information on Barefoot Bowling at Parramatta RSL contact the reception team on 9633 5177 or visit: www.parramattarsl. com.au or join in Barefoot Bowls for Kidswest - contact the Chamber on 9683 6655 for details.
YOUR chance to play a starring role on stage comes on Friday, March 26 at the Riverside Theatres, Parramatta. Riverside will conduct a fund raising lunch on the main stage, to support their long established Workshops in the Arts for People with Disabilities (WAPD). For over 14 years, 40 weeks a year, six sessions per week, Riverside Theatres has funded and conducted these workshops for people with severe to mild physical and intellectual disabilities, including down syndrome, cerebral palsy, autism and visual impairment. Demand for places in classes is rising, as are costs and Riverside needs to raise more funding and have now moved to holding their first ever fundraiser for the cause. One of the most professionally run programs of its type in NSW, the workshops focus on improving and developing skills in movement, drama, dance and singing. Funding for even one additional tutor would enable the program to run additional classes and to reduce the numbers in classes for those participants who need greater assistance. In 2009 a group of local Parramatta businessmen came together to form a fundraising luncheon committee with the intent to raise much needed funding for the workshops program. The inaugural “Get on Stage’ lunch will be held on the main stage of the theatre from 12 noon to 3 pm on March 26. The committee is seeking raffle prizes, auction items and event sponsors. Tables of ten can be purchased for $1,200 or individual seats for $130. Contact Rachelle Baiada at DeVries Tayeh on 9633 3333 for information. Parramatta Business Access March / April 2010
Health
Keeping travelling workers healthy By Conrad Moreira EMPLOYERS are responsible for educating their employees about work safety and providing them with a safe workplace. While most companies focus on risks in traditional work environments (e.g. office, factory or worksite), the risks faced by the business traveller in non-traditional workplaces are often forgotten. Business people today travel further, at shorter notice and to more isolated areas than ever before, and the risk posed by illness and injury to successful business outcomes has increased. Companies should have a travel health policy that addresses the risks of sending employees overseas. This will allow them to meet their duty-of-care obligations, and will reduce their liability and the potential for litigation if a staff member becomes sick following business travel. The first step for travel managers is to have an appropriate pre-travel planning process. The most obvious place to start is with a corporate vaccination policy, which protects both travelling and non-travelling employees. However, a common misconception is that travel health risk management only involves making sure that staff are up to date with their vaccinations. One of the biggest challenges in managing travel health risks relates to
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individuals’ assumptions about safety. The attitude ‘I never get sick, and I only stay in good hotels’ is common. Ensuring that business travellers understand the specific risks at their destination is an important component of any travel health risk management strategy. By providing frequent travellers with information on travel health risks and safe behaviours, a company can go a long way to meeting its duty-of-care obligations. Between 50-80% of travellers experience some form of illness, usually minor, when travelling. Carrying a small medical or first aid kit to manage minor ailments can reduce “down time” and increase productivity when time is short and schedules are tight. Tips for managing business travel health risks • Consult a specialist travel health professional when developing your travel health policy. • Ensure that your employees obtain advice from specialist travel health professional and are offered appropriate vaccinations. • Frequent business travel can be stressful - consider lifestyle issues in travel health preparation. • Carry a medical kit to manage minor or common ailments when away. • Update travelling employees with any new or emerging risks. The Commonwealth Government Smartraveller website is a good place to start. * Conrad Moreira is the medical director of Travel Doctor - TMVC clinics in Parramatta and Sydney. Visit www.traveldoctor.com.au or contact Conrad at parramatta@traveldoctor.com.au
Scuba Winner THE winner of the $500 scuba package from Scuba Warehouse announced in the last edition of PBA is Ms Lyn Parkes with the following entry – WHY I WANT TO BE A SCUBA DIVER When there’s so much left to see, Why grow old gracefully? A whole new world in the deep blue sea, Could it be lucky me? Lyn is the financial controller at Marshalls Sydney Pty Ltd. Every weekend thousands of Australians jump into the ocean to explore the shallow coastal reefs with a mask and snorkel. From Bondi to the Great Barrier Reef, there is much to see in the shallow water just a few meters from shore. Around Sydney there is the inquisitive Eastern Blue Wrasse, Weedy Sea Dragons, colourful soft corals, and hundreds of species of marine life and fish in the shallows around rocky outcrops and underwater gutters. Parramatta based Scuba Warehouse has options ranging from a relaxing day on a luxurious cruiser on Sydney Harbour, to a fun-filled day of shore diving and picnic lunch with the club at a local beach. Scuba Warehouse owner, Judith McDonald is a veteran dive guide, leading expeditions all around the Pacific. For more information abut scuba diving contact Scuba Warehouse at www.scubawarehouse.com.au or (02) 9689 1389.
Parramatta Business Access March / April 2010
Education
Knowledge power drives innovation By Mark Woodbridge KNOWLEDGE is power, so goes the old saying. In the 21st century, knowledge is not just power but the fuel that drives innovation and economic growth. In a modern democracy, universities produce and transmit new knowledge to the betterment of the individual and society. Universities provide a deep understanding of health, economic, social and scientific issues. They can enhance the cohesion and inclusiveness of a society. Australian universities make an increasingly significant and direct economic impact on the societies and regional economies and societies they serve. Most universities in Australia have tens of thousands of students and thousands of staff. Several of Australia’s oldest and largest universities have annual revenue exceeding $1billion. Universities have been fulfilling their function of educating the young, researching to formulate new knowledge and helping society to be productive, prosperous and cohesive for about 2,000 years. The earliest institution that might be loosely called a university was the Platonic Academy that was foundered in Athens, by Plato, in 387BC. Nanjing University in China was established in 258AD while in India, Nalanda University was established at Bihar in the 5th century AD.
In old Constantinople (today’s Istanbul), in what was then the Christian capital of the Byzantine or Eastern Roman Empire, a University was founded on February 27, 425. This was more than 1,000 years before the city was conquered in 1453 by the Ottoman Turks. In Mediaeval times, after that period in history that is generally, although in all likelihood inaccurately referred to as the “Dark Ages”, there were several great universities established in a relatively short period. Most of these institutions are still operating today. These new universities included the universities at Salerno, established in the ninth century, Bologna in 1088, Paris in 1150, Oxford in 1167 and Cambridge in 1209. In 1850, 683 years after the foundation of Oxford and 641 years after the founding of Cambridge, the two institutions upon which early Australian universities are most closely modelled, the University of Sydney was formed. From very modest beginnings, Sydney University has grown over almost 160 years, to become one of the world’s great universities. Australia went on in the second half of the 19th century, to establish a steady stream of new universities. The University of Melbourne was founded in 1853, only three years after the University of Sydney.
The Parramatta College
Growth forces college move
In 1874, the University of Adelaide was established followed in 1890 by the University of Tasmania in Hobart. For what was a relatively small and geographically dispersed group of remote British colonies pre-Federation, Australia was well served by its young group of universities. Around the world at this time, universities were typically in positions of privilege. Perhaps at this time the reputation of Australian universities being “ivory towers” may have been at least a little valid. But that has changed considerably. Today our universities are very much part of the communities they serve. They offer learning opportunities for a very wide range of individuals. Learning has gone form something that you only undertake when you are young to a lifetime learning process. * Mark Woodbridge is associate director of the Innovation and Consulting Unit at the University of Western Sydney.
LEISURE & LIFE Essential Car Maintenance Face Painting Pottery Sandstone Sculpture Creative Writing Drawing and Painting Cake Decorating Chocolate Workshop Creative Cupcakes Wine Workshop Finance What 2 Think b4 U Spend Floristry Diet and Nutrition Makeup Managing Stress & Anxiety Remedial Massage Therapeutic Massage History Walks Languages Marvellous Magic for Beginners Needlework Personal Development Bonsai Gardening and Landscaping Tai Chi Welding Yoga
DUE to continued growth over the past three years The Parramatta College has moved its administration functions to Ross Street, North Parramatta. The new venue also has a classroom at the venue which will be used for customised business training. Ross Street is outside the CBD, but the Council’s Loop Bus ensures that the College is just as easy to find. Students and visitors just need to get off at the Church Street North stop and walk round the corner to Ross Street. The College’s Skilled Migrant Program, which helps professionals find their first job or work experience in Australia, continues to work at 67/ 48 George Street. Thanks to a Federal government infrastructure funding program for non-profit training and education providers, the College has upgraded its seven training rooms with low energy lighting, improved student facilities, new furniture and equipment. The College continues to meet its charter to provide education to the community of central Western Sydney by delivering education and training at Wentworthville, Auburn and Granville and Parramatta. To find out more about business training offered by The Parramatta College, contact Linda Mumford on 9687 2072 or linda@parramattacollege.com.au
BUSINESS AND VOCATIONAL Business Small Business Management Customer Contact Training and Assessment First Aid Safe Food Handling Bookkeeping Effective Telephone Techniques Events Management Essentials Photography Public Speaking Starting Your Own Import/ Export Business Coffee Making – Barista Skills COMPUTING MS Project MYOB Beginners Keyboarding Design and Produce Text Documents Microsoft Office Internet Social Networking Facebook, LinkedIn and Twitter Buying and Selling On-line Basic Video Production Photostory Create Your Own Web Page
DANCE, MUSIC & FITNESS Aquafitness Bollywood / International Latino Fever Dance Workout Fitness/Dance Motivational Latin, Jazz, Hip Hop and Funk Ballroom Dancing Ceroc Modern Jive Fitness / Dance Motivational Latin, Jazz, Hip Hop and Funk Line Dancing Salsa Social & Wedding Dance Guitar and Singing Ukulele for Beginners Fitness Boxing Krunch Boot Camp Pilates Self Defence and Fitness Bootcamp ENGLISH LANGUAGE Spoken and Written English Preparing for Work and Study Advanced Conversation Absolute Beginners
9687 2072 w w w. p a r r a m a t t a c o l l e g e. c o m . a u
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admin@parramattacollege.com.au Parramatta Business Access March / April 2010
Money
Logic of credit reporting
Cash flow factors
tem is used. Australia is one of the few countries in the world that still adopts a negative reporting system; by that I mean only enquiries and negative events such as defaults and judgments are recorded. There is no documented or accepted process to rectify an incorrect listing. Customers are free to contact the reporting agency, the credit ombudsman, the communication ombudsman, etc., but this often leads to even more frustration and many wasted hours. Prevention is always better than the cure. Here are my top five tips to avoid the credit monster biting you: • Make sure creditors are immediately informed of a change of address or contact details. • If a direct debit has stopped but the debt still exits don’t wait to be contacted by the creditor, call first. • If there is an issue with making a payment, call the creditor immediately to discuss. • If a debt cannot be paid right away talk to the creditor about a payment plan. If a payment plan is agreed on, make sure it is honoured. • Make sure everything is in writing. The movement to more positive reporting can only benefit all concerned and after some inevitable growing pains, I have no doubt that we’ll end up with a fairer, more accurate system.
By John Dickinson HOW can one small blemish listed on a credit report have the potential to stop a borrower in their tracks for years? The answer is in the way most credit providers assess risk, because the days of someone assessing your application and reaching an informed and logical decision are long gone. Most of the process is now automated; some would say logic no longer applies! The computer now has the final say and the first place the computer looks when assessing your application is your credit file. Given that computers can’t differentiate between a serious credit infringement or a minor blemish the computer simply notes the negative listing and in most cases will decline the application cold; it’s that simple. Let’s say you have just been made aware that you have a default to your phone carrier and upon hearing the news pay the outstanding amount immediately. You would be forgiven to assume that the status of this default would automatically be adjusted from unpaid to paid; let me assure you this does not always take place. The government is proposing changes to legislation in 2011 that will affect credit reputing. One of these is for utility accounts such as power and water to be made available to a potential credit provider. Some say it will help to bring our credit reporting system in line with other countries where what is known as a positive reporting sys-
* John Dickinson is a director at We Fix Credit Pty Ltd.
IN the aftermath of the Global Financial Crisis small businesses are taking even longer to pay according to Dun and Bradstreet’s December 2009 Trade Payments Analysis. The analysis shows that on average businesses are taking 2.1 days longer to pay; out to 53.9 days, than in the previous quarter. While it is difficult to shorten these payment times by pressuring debtors to pay earlier there is a cost effective solution to consistent slow payers or occasional difficulties some businesses face. Factoring, or discounting invoices has been in place for many years and more businesses are using this tool. The Institute of Factors and Discounters reported that in the 12 months ending last September the total factoring and discounting turnover was $64.3 billion; a 2.4% increase on the previous 12 months. Interface Financial Group
(IFG), a franchisor of invoice discounting has now opened an office in Parramatta to provide shortterm working capital for small businesses through this device. Former general manager of Loan Servicing for the Corporate Trust division of Perpetual, David Hechter, purchased the master franchise confident that the IFG business model, so successful in the USA, Canada, New Zealand and Singapore would work in Australia. Mr Hechter says although invoice discounting is a mature and high turnover industry, many small businesses in particular know little about it. “I realise that the industry has had some image problems in the past,” he says, “That is why we operate locally and with viable businesses to maintain and enhance their viability. We aren’t debt collectors; we stimulate cash flow.”
Profit Cash flow Growth Get back in control of your CASHFLOW & increase your PROFITABILITY now with the help from your local CAD Partner. We’re the experts in helping SMEs improve their Financial Control, Strategic Management & Accounting Systems. We’ll be your secret Weapon against your Competition for the upturn. Our Free Ebook “How to Control your Business Cash Flow” comes complete with a complimentary one-hour consultation with one of our expert Business Advisors to help you get the most out of your business.
PROPERTY CONSULTANTS VALUERS ENVIRONMENTAL SPECIALISTS BASIX / NATHERS
P 9630 8787 CAD Partners is a member of
Call or email us today to get started
1300 662 169
Email: sydneygroup@cadpartners.biz Web: http://sydneygroup.cadpartners.biz
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PO Box 6890 Parramatta BC NSW 2124 M 0415 488 588 F 9682 5804 E-mail: info@ksp.com.au PROPERTY & DEVELOPMENT ADVISORS FOR OVER 20 YEARS Parramatta Business Access March / April 2010
Money
Property: Where to now? Know your By Peter Karvon EARLY last decade real estate was a vehicle of wealth and status. Between 2003 and 2009, in NSW, it was quickly discovered that real estate and property had become a vehicle of debt and, in many cases, ruin. Amazing how things can change in such a short space of time. In past decades, property was acquired and wealth grew from the vines of capital growth. It would be difficult to explain to our fathers and forefathers that we can buy property cheaper now than seven years ago. The developers and so called property pundits of the early part of the decade have exchanged their BMWs and Mercedes for push bikes. By 2006 construction and development was rapidly grounding to a halt with figures released during this period showing the lowest on record quarter after quarter. As dawn was breaking on the languishing NSW property market, along came the GFC (Global Financial Crisis). The effect constrained the availability of money to a market which was bubbling with pent up demand. Funds began to leak through at the start of 2009 for first home buyers (with government grant in hand) subject to many onerous conditions. But for developers, builders and property pundits money is still far too scarce
for supply to improve. NSW is awry with developers and property pundits, all looking for finance with none available. The NSW Department of Housing may be a guide to us as they recently attempted to corner the market on development sites by buying up many properties with development approval and part completed projects to supplement a dwindling supply of social housing. Rental vacancy rates have remained under one per cent throughout Sydney for the past three years. Economics teachers will tell you in times of low supply and high demand, prices will rise. They don’t actually explain how to get the money to buy, if the banks do not lend. More importantly how do builders and developers build more properties when they are on the bottom of the lending list. The NSW property market is in an era of revolution – where the supply of accommodation is becoming increasingly scarce and the population is growing at compounding levels. Construction is being unduly restrained by the conservative nature of the banking system suggesting that the residential property market is heralding a period of supply and demand that has not existed since the end of World War II when demand for accommodation from homecoming soldiers completely outstripped supply. * Peter Karvon is a director at Karvon FT
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20 www.parramattabusinessaccess.com.au
future
By Eric Tjoeng BESIDES personal freedom, possibly fun and self satisfaction, one of the key reasons for owning a business is to provide financial rewards for the owner in term of profits and business value. One of the most effective tools improving a businesses’ cash position is the future financials analysis; where you know the current business position and want to target a future (better) business position. The future financials identifies the desired goals in your business, and then shows how to fix it by focusing on seven key business drivers - price, volume, margin, overheads, inventory, accounts receivable, accounts payables. Example: Typically a current position for a business may be that it has: • An overdraft of $100,000 or ... • It makes a small profit but it shouldbe a bigger one or ... • It has a poor cash flow. With the right future financials tool and knowledge the business owner could: • Reduce or eliminate the overdraft completely. • Double or triple the profit if that is your objective. • Fix the negative cash flow problem and provide positive cash flow. The future financials procedure has
two parts. It has a diagnostic part and a planning part. In the diagnostic part, it adjusts and balances the seven key financial drivers to show you what has to be done to achieve your financial goals, such as increasing your profit or eliminating an overdraft. In the planning part, it is critical to plan the steps a business needs to take to target that future business position. Finally, it is important to be able to effectively execute such a plan. The value delivered by this effective and powerful process can be enormous. It literally can improve the business hundreds of thousands of dollars a year by knowing what actions you (a business owner) need to take to achieve the desired goals. * Eric Tjoeng is a business a business advisor and a partner at CAD Partners.
Need Working Capital? The Interface Financial Group are working with local businesses to provide solutions We provide a unique form of Invoice Discounting that is • Fast — Turnaround in days • Flexible — Use it as you need it
• Friendly — Personalised Service
• No Contracts and No Hidden Fees For a no obligation enquiry call Roger 0414 892854 or email rbyrne@interfacefinancial.com Roger Byrne Tel: 0414 892 854 Fax: (02) 8088 7157 Email: rbyrne@interfacefinancial.com Web: www.interfacefinancial.com/byrne
Parramatta Business Access March / April 2010
We’ll beat the big 4 banks on home loan rates.
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What’s your bank doing to keep you satisfied? Talk to us today to take advantage of our lower rate discount on the Back to Basics home loan, until 31 March 2010. Visit the Parramatta Westfield branch Call 8836 7788 suncorp.com.au
Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722. To approved applicants only. Fees, charges, terms and conditions apply and are available on request. To be eligible for the offer, a new, fully completed loan application must be submitted on or before 31 March 2010. Interest rate discount applicable on Full Doc Back to Basic home loans. The offer is not available for loans originated via a Broker. An amount equal to the standard Loan Establishment Fee is included in the Deferred Establishment Fee. A Deferred Establishment Fee is charged if the loan is paid out within 4 years. *Roy Morgan Research. Customer satisfaction refers to the proportion of each financial institution’s Australian customers aged 14+ (defined as those holding a deposit or transaction account) that are either ‘Very Satisfied’ or ‘Fairly Satisfied’ with their overall relationship with that financial institution. Results are national and calculated on 6-monthly moving average and current as at November 2009. ^The big four banks are ANZ, Commonwealth Bank of Australia, NAB and Westpac. Offer applies to equivalent standard basic variable home loan rates excluding any special offers or negotiated rates advertised by NAB, CBA, ANZ and Westpac, as at 10 February 2010. 16985 01/03/10 A
SPECIAL FEATURE - Hubbard Management System
Turbo charged success using the HMS By Louise Durack TODAY Turbosmart is a rapidly expanding international autoparts business, with a solid reputation for quality and reliability. But it has not always been this way. Eight years ago the business, then solely based in Ashfield, was losing significant amounts of money. A clear corporate vision was lacking, procedures were lax, the 29 staff were unaccountable (and therefore not 100 per cent productive) for their work and general morale was very low. “I was at the stage where I really would have tried anything to get the business going successfully again,” says Turbosmart president, Nic Cooper (pictured right). Luckily for him, in walked Lindy McNocher, a candidate for a secretarial position on offer at Turbosmart, but also a qualified coach of the Hubbard Management System (HMS). The HMS is based on general principles and natural laws to efficiently and productively manage and implement a business structure with any group of people, whilst also maintaining high levels of morale. Having let on to McNocher about the flailing company, Cooper was intrigued to hear her ideas about how she could efficiently turn it around and back on the path to profit and success using HMS. In practical terms, there were three
main areas of the system’s philosophy that began to gradually, but very effectively, touch and improve upon each area of the Turbosmart business. “The first aspect was the ‘Organising Board,’ says Cooper. “Lindy showed us how to ‘quieten down the confusion’ that reigned supreme at work by pulling a board together which broke the company into seven crucial divisions and which detailed how the company could flow together more effectively. As an example, Cooper highlights that there were previously five people randomly involved in parts purchasing. “Because it was unclear who was doing what, it always seemed that parts were purchased at the last minute in a desperate hurry, by which time we would have to pay a fortune for them. “The HMS pointed to us hiring one dedicated manager for this purchasing and measuring his performance. The resulting profits were pretty much immediately apparent when the guy practically covered his annual salary in just two weeks.” Secondly, through McNocher’s efforts, Turbosmart became used to using a manual ‘Communications Basket’ of information on each staff member’s desk as a way of distributing communications, rather than time being wasted with people wandering between desks and creating potential interruptions.
WHAT IS HMS?
Thirdly, and perhaps most crucially, says Cooper, Turbosmart was instructed to implement the Organisation Information Centre (OIC) for each staff member. Essentially, a system of clear performance measuring through output, the OIC not only provided clarity on the results of the business, but also enhanced the motivation of staff members keen to be rewarded for a job well done and eager to increase productivity and profit. The success which Turbosmart has achieved over that gradual, two-year period, is a far cry from the direction in which the company was once headed. Cooper says: “Basically we were about $350k in negative net profit for three years in a row at the beginning of the decade. By contrast, last year we made about $450k net profit, and this has also been achieved with a smaller staff of just 16.” He admits that HMS is based on simple, often common sense philosophies, “but simple philosophies that actually work and can really turn the negative aspects of a business into positives”.
A little known business development program called the Hubbard Management System (HMS) is generating extraordinary results for its users. HMS was initially developed by philosopher and author L. Ron Hubbard from practical principles derived from his studies into life. He expanded his findings into an extensive body of management materials which are focused uniquely on workability and application. The Hubbard management system teaches clients essential principles, laws, and monitoring methods to streamline operations and raise production quality and volume.
SUCCESS SUMMIT 2010 Pr ov en
resu lts
to
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Island,
North
Far
E xpand
your
Queensland
®
bu siness 2-4
June
2010
®
SPAKERS INCLUDE
“I would find it really hard to describe how many wins and realisations I’ve had. It is the finest weekend seminar I’ve been to. My life has just had a complete 180 degree change. The future is at my command. “ RC - business owner - Western Australia
Tony Melvin, best-selling author of 4 books on business and finance, a Hubbard management consultant and international speaker. Tony blasts away the complexities and false data on finance rampant in our society. Amidst the economic doom and gloom pumped out by the media, he provides a new viewpoint – a clear, clean view of finance – bringing people to a level of financial control they had not thought possible.
Gareth Jekel, CEO Performia Australia, Hubbard management consultant and public speaker. Previous winner of the Young Australian Businessman of the Year. Gareth’s passion is providing CEOs and companies with knowledge to bring about a highly motivated, productive team. Leading corporate trainer for companies that want to get productive in a hurry!
The summit will focus on Sales, Management, Finance, Leadership and Personnel. G E T T H E K E Y M A N AG E M E N T & L E A D E R S H I P TO O L S - FA S T ! V i s i t : w w w. s u c c e s s - s u m m i t . o r g f o r i n f o r m a t i o n a n d b o o k i n g s .
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Oisin Grogan, CEO, Executive Success Australia, a consulting company specialising in training business owners and top management to get the products of their company produced in high volume with much greater efficiency, while generating company expansion. He is an international speaker whose company has assisted in generating major increases in productivity and efficiency. He regularly delivers seminars to companies and executives aiming to achieve greater teamwork, integrity, efficiency and productivity - by unifying all in the company to the same goal and vision.
Cost: AUD 5995.00 Full price Early Bird AUD 4995.00 when paid by 13 May 2010 Early Bird AUD 3995.00 when paid by 13 March 2010
02 9638 7900 Parramatta Business Access March / April 2010
SPECIAL FEATURE - Hubbard Management System
Making money is creating exchange By Oisin Grogan THESE days, particularly in the western world, everyone wants to make money. You need money to live, if you don’t have money you are in big strife. So if we’re going to look at the subject of money, we got to look at some underlying principles. Because if that is all you are interested in, which I highly doubt, you’re going to have trouble you’re not going to get a great result for your business. To make money you must have a purpose. Your business must have a clear purpose. So why does the business exist? What was it started to do? If you didn’t start it, what did the founder start it to do? What is the current direction for the company and it sure as hell better not just be a profit for the shareholders – because this is a money motivated purpose – and this will not really generate long term success. If we’re going to look at money, we need to look at a principle of exchange. It is a very simple principle that exists in all good relationships, in all good companies.
It goes like this: Someone needs or wants something, and it solves a problem for them and helps them in some way – the examples of these are innumerable – we could start with a clean toilet, a clean office, a marketing plan that helps a client expand, a kitchen, your house re-stumped, your car getting fixed or a salesperson who sells your a car. A person or business exchanges with you and you exchange money in return. Notice that the goods or service came first! Money comes in at #2 always. There are so many examples of ways that people can help – even when you turn on your tap water flows out – well someone built a plant to process and pump the water and make sure it wasn’t full of bugs and it comes out beautiful nice and clean and you can drink it – so that is a form of help. A very simple way to improve your business’s performance and income is to clearly define what you exchange with your clients. Make a list of two or three items and concentrate on delivering these in volume, get your staff to do the same. The results can be very astounding. Try it. * Oisin Grogan, pictured above is CEO of Executive Success.
Issues of workplace identity By Glenys Nall THIS is the question plaguing the minds of many people in the workplace. Few are truly clear about their jobs, their area of responsibility, accountability (what IS that?), where their “zone” ends and the next guy’s starts. Ask an executive director what his job is exactly and you will get answers like, “serving the board”, “overseeing growth”, “preparing and presenting budgets”, “pleasing the stakeholders”. And what’s the difference between him and a general manager? You will also hear the terms “viability” and “solvency” being used interchangeably. The fact is that many a manager does not know exactly what his duties are. There are a lot of Latin-based words in the job description but what does it mean in the daily grind? His job in fact seems to be one of handling a lot of confused activity, sorting out disagreement, struggling for co-operation or compliance, getting results despite whatever happens, in short, surviving to fight another day! And somehow, the balance sheet looks okay. Most leaders in business, whether the owner, the executive director or general manager need help to harness their talents and direct them in the most effective manner. Whenever you observe competent individuals at work, whether employers or employees, you see people with the abil-
ity to convert thought into action and usually in an impressively short time. Why is this? It’s because they know exactly what to do! They have certainty and with that (here comes another dirty word) they can control their area of responsibility. They know who they are and what they are supposed to be producing or doing on a daily basis. They don’t keep asking questions about what they should be doing and they don’t get into long deviations; the path is clear and the journey swifter. Of course everyone needs to know his functions but he needs to know which are the most important aspects. This way he can chose where to put his attention at any given time, he can monitor himself, plan for results, prioritise with reality. One of the most successful companies in the automotive accessories business in Melbourne uses the HMS as do some of western Sydney’s most dynamic organisations. It may sound clinical but think for a moment about the last time you had anything to do with a business which was extremely well-organised and review the morale of the people that worked there. With good organisation, all that energy is contained, directed, focused and produces something of value. And like a successful team of athletes, there is pride and high morale. * Glenys Nall is a HMS consultant.
We specialise in exponential growth for small to medium business. We partner with executives and business owners to help them achieve more growth, increase profits and better staff performance through our tailor-made programs. Programs we can tailor to YOUR Company: Sales Booster Program: This program will create marked increase in your sales within three months. Organising Board Program: This program maps out your entire business so all staff clearly know their position, role in your company and expected results. Company Expansion Plan: This is a program that works out your company’s goals and direction with an embracive business plan. The Power Program: This program is for business owners and it addresses things that hold a person back from achieving the next level of success they desire. “In my opinion this is the best kept secret in business today. It clarifies the business and its units, it takes the guess work out of the day-to-day running of the business and, most importantly, it allows management and staff to produce results like they never have before.” AP - Business owner
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www. exec uti vesu ccess.co m .au Parramatta Business Access March / April 2010
SPECIAL FEATURE - Hubbard Management System
Frontline success starts with organisation By Louise Durack FRONTLINE Australasia is just one of a growing band of Australian engineering companies seeing improved global competitive advantage as a direct result of the Hubbard Management System (HMS). In just the last six months, the privately-owned business has reported a 35 per cent growth in turnover, alongside expenditure of $6m on new equipment in order to cope with an influx of orders. In 2009, the Melbourne based company was also awarded the title of Federal Chamber of Auto Industries Supplier of the Year. Frontline had always been a profitable company operating predominantly in the autoparts, defence and environment sectors. However, with autoparts traditionally being a tough industry sector, profit margins in this area had been operating at around 2-3 per cent at best. Investigating the benefits With the tightening effects of the global economic crisis just around the corner in 2008 and customer reductions operating at around 3-5 per cent every year due to increasing competition from Asia, CEO Kevin Hooper took the opportunity to investigate the benefits of the HMS. The Hubbard Management System has been proven over 30 years and is based on general principles and natural laws to efficiently and productively manage and implement a business structure with any group of people, whilst also maintaining high levels of morale. The hiring of an HMS consultant at Frontline saw the company implement a range of new procedures, most important of which was the ‘Organising Board,’ an HMS management tool which broke the company into seven divisions and showed how it could operate more effectively. Using the Organising Board, the company could see how it could work together in a clear cycle, with everyone having clarity surrounding their division, personal roles and responsibilities. “This led to some improvements in profitability, such
as profit margins altering to between eight Kevin Hopper, CEO of Frontline Australia receives an award for business success and 10 per cent which of being completely transparent.” course, was very encouraging,” says Hooper. This change in business procedures tied in with anHe says the system also revealed various business acother concept of the HMS, that of the ‘Principle of Fair tivities that was proving superfluous to needs. “For example we were creating a lot of graphs for the Exchange,’ whereby in return for being totally open and business as part of the way we were asked to meet our fair in their communications, management were able to business accreditations. When we looked deeper into this, ask staff members to be fair in the level of productivity we realised this was not actually required, so reducing the that they provide the company. “This has gone down really well in the workplace and amount of graphs we produced allowed us to free up some created a really enhanced level of cooperation and moresources.” Indeed the HMS also showed that in some instances, rale,” says Hooper. He acknowledges there was some resistance to the across various areas of the business, one staff member was often only what was required, where potentially two or new program at the start of the implementation phase, with concerns about an apparent religious affiliation. more had been in existence. These concerns proved to be unfounded once they saw “In essence, the HMS showed us that there was a sigthese were just practical management tools they could use nificant number of areas where a lack of clarity on responsibilities and accountabilities existed,” says Hooper. As a to solve their problems and challenges. “As is the case with any innovative change in the manresult, a system of key performance indicators were put in place at Frontline, which served to improve overall pro- agement system there were concerns, but I think they can now see what an amazing benefit this management system ductivity. has been to our company. “Yes, I think Frontline provides Clearer communication An increased level of communication for the benefit of stark evidence that the HMS does work, but like anything the whole organisation was another of the benefits to arise it does take a bit of effort to see tangible results emerge. “Now we can see these results for ourselves, we thorfrom implementation of the HMS. “We learnt from the system that increasing communi- oughly endorse it as a great management mechanism cation to the company – whether that be good or bad news which can enable companies like ourselves to become – was to be a good thing,” says Hooper, “so we also started more sustainable and competitive in the long term against providing much more detailed, but easily understandable, other global players.” Proof of the success at Frontline, adds Hooper, has information about how the company is performing, than been illustrated by the fact that other ‘non HMS’ compawe did previously.” The feedback from the 180 staff, says Hooper, was nies have tried to poach staff who have been trained and very positive. “I think the open communications particu- influenced by HMS. larly struck a chord with them as it showed that we were
Keys to recruiting staff RECRUITING new people there are three important factors you have to firmly establish before you can safely decide to bring a new person on board. These are production record, staying with the company and working within a group. The first and by far most important factor is the production record. A product is defined as the final result of a directed effort to get something completed. And the fact that it is really complete; is one of the key attributes of a product. A product in order to be a product doesn’t have to be a physical object; it could as well be a completed service.
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In today’s society we have, in fact, a tendency to develop and deliver more and more products that are personally or machine delivered services. The second prerequisite that needs to be fully established is that you are dealing with a person who is able to stay with the company for a reasonable length of time. Unfortunately, there are many people who change positions and companies as soon as more money is offered somewhere else, or some unexpected problems occur or who just simply lack persistence. The third area is that the hired person needs to be able to function within
By Marten Runow a group and be able to create understanding with other people. Sometimes (however, very rarely) you will find a person who is fairly productive whilst working on his or her own, but who has such a problem cooperating with others that it will ruin the overall productivity of the group. It is a fact that the more knowledge you have about a person’s personality (both positive and negative), the easier you can take responsibility for that person and get the full advantage of their abilities. * Marten Runow is the International CEO and founder of Performia. Visit www.performiainternational. com for information.
Parramatta Business Access March / April 2010
Motoring
Hybrid by name, hybrid by nature THE most advanced car ever built in Australia, Toyota’s Hybrid Camry, has been officially launched to the market. Australia’s first locally built hybrid car, Hybrid Camry is poised to slash fuel bills and reduce environmental impact compared with other similar-sized family cars. The secret behind its power and exceptional fuel economy is the world’s leading hybrid technology, Hybrid Synergy Drive. Using just 6.0 litres of regular unleaded petrol to travel 100km*, Hybrid Camry is almost 32 per cent more frugal than the automatic petrol Camry - which was already the most fuel-efficient Australian-built car. For someone traveling 20,000km a year in a Hybrid Camry, the savings on fuel alone will be 560 litres or $14 a week based on a pump price of $1.30 a litre. The savings rise to more than $16 a week with fuel costing $1.50 a litre. Tailpipe CO2 emissions will be reduced by almost 1.3 tonnes a year. The savings will be even greater for the significant number of buyers expected to downsize from a large locally produced six-cylinder car. A Hybrid Camry can travel almost 300km further on a single tank of fuel than Australia’s best-selling car and almost 400km more than the next best-selling Australian-made car - despite both the rivals having bigger fuel tanks, said Toyota Australia’s senior executive director, David Buttner. Maximum power output from the combined 2.4-litre petrol engine and 105kW electric motor
Snap Printing Parramatta 69 Phillip Street Parramatta NSW 2150 P: (02) 9633 4808 F: (02) 9633 9764 E: parraphillip@snap.com.au
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is 140kW - almost 20 per cent better than a petrolonly Camry. Other technology advancements for Hybrid Camry have significantly improved the car’s ride and handling with local tuning of the suspension and steering. It is the first built-in-Australia car to combine electric power steering, electronic brake control, regenerative (electric) braking and electric airconditioning. Mr Buttner said the substantial savings for the environment and the hip pockets of Australian motorists would multiply over the years. “Hybrid Camry makes a compelling case for itself as an alternative to conventionally powered family sedans,” Mr Buttner said. “Consumers will get all the performance, space and comfort of a top-rated family sedan. At the same time they will get fuel economy that trumps that of petrol-powered light and compact cars. “Hybrid Camry is the future of Australian motoring. It brings hybrid technology to mainstream car buyers. Hybrid Camry provides a lot of automotive virtue, especially with prices under $40,000.” Cumulative global Hybrid sales now exceed 2.2 million vehicles including 1.6 million Prius and more than 175,000 Hybrid Camry. * Fuel consumption and emissions will vary depending on driving conditions/style, vehicle conditions and options/accessories. Source of fuel consumption data: ADR 81/02 combined cycle.
Efficient: The new Australian built Toyota Hybrid Camry.
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Where are the opportunities for your business? 80% of all
economic expansion in a region comes from the growth of existing businesses within the area. Let us help you identify the opportunities in Parramatta for YOUR business Council’s Economic Development Team can assist your business with free access to: • • • • • • • •
Local statistics Business and industry trends Demographic trends Population forecasts Area profiles Commercial and residential real estate costs Introductions to business networks Referrals to business advisory services
For a free confidential appointment with one of the team, call 9806 5636 or email mthomas@parracity.nsw.gov.au
www.parracity.nsw.gov.au/business