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COVID’s impact on business


More than 63 percent of respondents to a recent survey of Canterbury businesses are reporting significant financial impacts from COVID-19. More than 21 percent are citing moderate impact, with more than 7 percent citing minor impact.

 

The data was gathered as part of a survey distributed to local businesses last month, during Alert Level 3, by The Canterbury Employers’ Chamber of Commerce and ChristchurchNZ.

Looking forward three months, 60 percent of businesses still felt that the cashflow impact will be profound.

Staff numbers too will be affected, with around 30 percent of businesses believing their staffing numbers would have a significant negative impact of more than 25 percent.

Exporters remain more optimistic, with 46 percent responding that there will be no effect on their sales, while 30 percent think the negative effect will be more than 25 percent.

The survey shows that smaller businesses have been more impacted by loss of customers and increased costs, while larger ones have been impacted by supply chain.

Canterbury Employers’ Chamber of Commerce Chief Executive Leeann Watson says the results of this survey demonstrate the changing impact during the COVID-19 pandemic.

“All business segments have been affected by cashflow issues.

We have engaged with over 2000 businesses over the last two months through our COVID-19 helpline and over email and 6,000 businesses in on our webinars, and the survey results reinforce what we are seeing – namely the very real need for continued targeted financial support and the need for HR as we continue to see increased needs around support with restructuring, redundancy and resizing for businesses.”


 

central city equity investment opportunity: MAAT Group


Maat Consulting Ltd is offering an equity investment opportunity in a new company, Victoria Property Investment Ltd, which has been formed to purchase the property at 99-123 Victoria Street, Christchurch.

 

This investment has 7,226.2 m² of net lettable area, spanning four levels of fully tenanted office space at 123 Victoria Street, plus a ground floor designed for the hospitality industry.

It also includes a land holding adjacent to 123 Victoria Street which is used for additional carparking.

Number 123 Victoria Street is the address of the offices of Nexia Christchurch Ltd, Alliance Group Ltd, Pacific Radiology Group Ltd, and NZ Merino Company Ltd who together occupy approximately 93% of the total available space.

This property is proudly presented as part of the rebuild of Christchurch as it continues to develop as a modern and well-designed city.

Features of this investment to note are:
• The building was completed
in 2017
• The weighted average lease term is 8.15 years
• There are 106 carparks available
• The property is located on the west side of Victoria Street and just north of Salisbury Street, nestled among the outlying area of the main business district. It offers easy access to the central business district of Christchurch with the Victoria Clock Tower and the Christchurch Casino less than a flat five-minute walk away
• It is intended to be registered as a PIE investment, limiting the top tax rate to 28 percent
• The projected cash return for the next two years and nine- month period is 7.25% *p.a, before tax, payable monthly.
This property is proudly presented as part of the rebuild of Christchurch as it continues to develop as a modern and well-designed city. It will be managed by Maat Consulting Ltd, an experienced commercial property manager.

Maat Consulting Limited is now into its 10th year of offering investments in commercial property to a broad range of the New Zealand public.

Based in Albany, the company now manages a portfolio of 14 properties throughout New Zealand.

These properties have a range of national and international tenants.

Maat Group continues to select quality properties which have quality tenants, in order to maximise returns for investors.

A copy of the Product Disclosure Statement and Supplementary Document (post COVID19) are available and may be obtained from Maat Consulting Limited by contacting:

Managing Director
Neil Tuffin: 021 481 441 or
ntuffin@maat.co.nz

Or Investor Relations Manager
Jodi Tuffin: 021 084 42523 or
jtuffin@maat.co.nz

Or the Maat Office on 09 414 6078.

Our offices are located at B4, 17 Corinthian Drive, Albany, Auckland.

*projected pre-tax return, per annum, payable monthly. The offer is made in accordance with the Financial Markets Conduct Act 2013.


 

Sumner Gem


Nestled in the heart of Sumner and somewhat now an institution, The Ivy gift and homewares store has moved into its sixth year of business. While favourite brands and labels remain, fresh products are constantly being sourced with an ongoing emphasis on sustainability and ethical production.

Owner Karen Aitken, who has a background in food and nutrition, has recently added a side-branch to her business – The Ivy Kitchen.

Karen’s love of good food has led to the establishment of this catering branch of The Ivy, which includes the creation of delicious morsels for all occasions, locally and within Christchurch.

Thanks to the ongoing support of locals and regular customers from all over Christchurch, ‘The Ivy’ continues to grow and looks forward to exciting new product lines and twists in the future.

Find The Ivy at 55 Nayland Street, Sumner, open Monday to Friday 10am to 5pm and weekends from 11am to 4pm. Phone 03 326 6481 or find them on Facebook and Instagram.


 

Mitigate asbestos risks


Asbestos has hit the headlines again after the discovery of the fibrous carcinogen during the demolition work at Ara Institute of Canterbury’s Christchurch campus. The discovery is expected to add $560,000 more than budgeted to the demolition costs.

 

 

WorkSafe has launched a new tool on its website to help businesses develop their asbestos management plans.

Businesses have a duty to manage risks associated with asbestos exposure, including completing an asbestos management plan if required.

The plan must be kept at the workplace and be available to workers and other businesses operating there.

“WorkSafe responded to feedback and worked with businesses to develop an easy-to-use template that guides them through the process of providing the required information,” WorkSafe Head of Health and Technical Services Catherine Epps says.

An asbestos management plan sets out where any identified asbestos or asbestos-containing material (ACM) is present, its condition and how it will be managed.

These plans are required by the Health and Safety at Work (Asbestos) Regulations 2016 for workplaces where asbestos or ACM has been identified, or is likely to be present.

“We have a goal of reducing asbestos-related disease by 50 percent by the year 2040,” Catherine says.

“Our asbestos licensing regime is designed to protect the health of workers and others.

“The hazardous product is still found in many buildings and structures, but with good information businesses can make robust decisions to protect workers and others who might be at risk.”

WorkSafe has comprehensive information on its website, including what businesses are required to do about managing asbestos exposure risks.


 

Workplace of the future?


The use of co-working spaces is on the rise, but should you accept a job in a co-working space or move your employees into one? According to recruiting experts Hays, there are several pros and cons to consider before you embrace this new trend.

 

 

Communal workspaces are not just for start-ups anymore,” Hays New Zealand’s Managing Director Adam Shapley says. “Big business is embracing the co-working phenomenon, but it’s not for everyone.”

According to the latest Hays Journal, which explores this issue, co-working chains have grown rapidly. GCUC, a co-working conference company, and Emergent Research, a research and consulting firm, found that there were 11,790 co-working spaces globally in 2017, with 1.74 million members. They expect membership to rise to 5.1 million by 2022.

It is thought that co-working will increase by 15% over the next five years – indeed, in Australia alone, the number of co-working spaces grew by a staggering 297 percent between 2013 and 2017 according to AllWork.Space.

 

The benefits
“The opportunity to network is a big attraction of co-working spaces,” Adam says. “Most co-working companies want to foster a community and many use open-plan desks, as well as hosting regular social events, wellness sessions, product launches and investor meetings.

“The open layout of co-working spaces also leads to a more collaborative, personal and socially dynamic culture within an organisation. Just make sure you find out which other businesses are in the space before you sign up, and whether they align with your goals,” Adam advises.

Another benefit is the opportunity to spot emerging business opportunities. According to the Hays Journal, professional services firm KPMG is one example of an organisation working alongside start-ups in co-working spaces to spot emerging trends and opportunities to support them earlier in their life cycle.

Kirsty Mitchell, Director of Growth for KPMG in the UK, says, “By placing small KPMG teams into co-working spaces, we are part of a fast-paced ecosystem, working daily with businesses to help them as they grow, and to identify key issues and opportunities for them as they arise”.

She believes these environments could help KPMG project teams come up with new solutions to problems as well, rather than internal project rooms which, she suggests, can stifle creativity.

 

The downside
“We are not all the same, and to be effective, a co-working space must therefore be able to adapt to the needs of individual tenants and their staff,” Adam warns. “This includes ensuring there are enough meeting rooms and private areas in which to meet clients or have private conversations.

“If you don’t take the appropriate steps, the culture of the co-working company can become more dominant than the employer’s. Regular video conferences with your head office team and private offices within co-working spaces can help to minimise this risk.”

A private office within a co-working space also addresses some of the other common drawbacks of co-working: overcrowding, noise, mess and lack of privacy.

 


 

Business greats hit Christchurch


Former Christchurch High head boy Jake Millar is a 23-year-old with a $9 million video company and the world at his feet, so why is he bringing some of the world’s most successful business leaders back home? To teach New Zealand businesses about failure.

 

 

Millar’s commercial baby is Unfiltered which, at face value, is focused on content creation. But amongst the vast and impressive range of video interviews on its website which include Sir Richard Branson and former Prime Minister John Key, there’s an overriding theme – education. The website is designed to be a ‘hub’ of information sourced directly from the best business minds in one easy to navigate spot at www.unfiltered.tv.

Since launching in Auckland back in 2015, Millar and business partner Yuuki Ogino have uploaded more than 200 videos, attracted almost 30 million views and worked with companies like Bell Gully, AMP, PwC and Spark to create and distribute branded content. It’s seen Millar and Ogino ranked in Forbes’ North American ‘30 Under 30’ list in the education category.

 

 

Together the pair have hundreds of interviews under their business belts, with as many again in the pipeline – unsurprisingly it can take years of legwork to get some of America’s biggest household names on camera. Now they’re bringing some of the business heavyweights to Christchurch, from the former worldwide CEO of Saatchi & Saatchi, to the founder and CEO of Masterclass, and NASA’s former administrator.

Unfiltered Live is hitting Christchurch on 25 June, with the top business leaders and entrepreneurs from around the world here to share the biggest, most transformative mistakes they’ve made and how they turned devastating failure into global success.

 

 

“We’re really excited to bring the event to Christchurch. We’re now in our fourth year and we have a feedback rating of 97 percent of people who attend that want to see the next event,” Millar says. “It’s time to have an open and transparent conversation, a behind the curtains look at the mistakes that everyone makes. We’ve got a fantastic line up that is a mix of international and national speakers.”

Find more at www.unfiltered.tv.


 

Hot Business Property


Christchurch is embracing the burgeoning international trend of co-working, with savvy businesses snapping up shared spaces throughout the city.

 

 

Businesses both big and small are taking up the clever co-working concept, which can prove to be a more simple, cost-effective and flexible way of operating.

 

1. Evil Genius Bar & Lair
Unit B, 1091 Ferry Road, Ferrymead
Situated on the estuary, this coworking lair is said to inspire creativity, productivity and collaboration. There is no slouching with an outrageous selection of ergonomic office furniture, plenty of parking, endless wifi, free printing and scanning as well as wickedly cool breakout spaces.


2. Regus
6 Hazeldean Road, Addington and Awly Building, 287-293 Durham Street, Christchurch Central
Rent an office, desk space or meeting room for an hour, day, month or years, or establish a business presence with a virtual address – it’s all here to rent between these two innovative spaces.


3. Christchurch Community House
301 Tuam Street, Christchurch Central
So much more than just a shared space, Christchurch Community House Trust is a group of non-profit organisations committed to making a difference through modelling a strong, connected community, with ‘hot desking’ for community groups, and a range of tenancy options and bookable rooms.


4. C-Lab
270 St Asaph Street, Christchurch Central
C-lab is Christchurch’s co-working space for start-ups, freelancers and entrepreneurs. Here you’ll find desks and meeting rooms in the vibrant Boxed Quarter laneways. The roof-top balcony is an added bonus.


5. GreenHouse
146 Lichfield Street, Christchurch Central
An innovation hub for start-ups, scale-ups and small businesses with 40 desks, meeting rooms and an open event space for up to 100, offering tailored support, programmes and events.


6. Awesome HQ
192 St Asaph Street, Christchurch Central
Provided by the Ministry of Awesome, this co-working space is designed to support start-ups, freelancers, small businesses and individuals.


7. The Collect
Suite 1, Level 1, 185 Manchester Street, Christchurch Central
Offering desks and meeting rooms, its founders wanted to create a home for freelancers, start-ups and entrepreneurs to ‘create a diverse community where our workspace continually inspires us’. Not just any ordinary shared workspace, The Collect has been painstakingly curated to achieve an inspiring place to work and collaborate.


8. BizDojo
4 Ash Street, Christchurch Central
There are 150 desks, three meeting rooms and an open event space. Marketed as ‘more than just a desk’, insightful people and programmes are on hand to help businesses grow.


9. community101
111 Cashel Street, Christchurch Central
A free co-working space at BNZ in the CBD offering flexible hot-desks and meeting rooms, available for anyone during business hours.


 

Brokers behind the business

Brokers behind the business


Boutique business brokers Tabak Business Sales understands that the decision to put your cherished business on the market is about much more than the numbers on the bottom line.

 

Brokers behind the business

 

Partner Damien Fahey says, “Tabak does it differently to other brokerages. We take the time to get to know our clients really well. We can settle them down about their decision if needed, we thoroughly explore the drivers of the desire to sell, and examine all the options.”
Damien says they do come across owners who ultimately just need a really good break, “Once we’ve talked they realise they need a decent holiday, and then they come back to their business with fresh eyes and enthusiasm.”

There is a real sense of social good in Tabak’s approach, which is focused on solving problems and creating opportunities. “It’s a buzz when you see the vendor able to make the move to their next passion or life phase, and the new owner of the business full of excitement and energy about the opportunities ahead,” Damien says.  Whilst Tabak has five offices nationwide, the South Island team has three brokers in Christchurch and one in Queenstown, and all have the experience that comes from running businesses themselves, along with qualifications in accounting, sales and business analytics. “There are a fair few grey hairs between us, but clients appreciate knowing they are in experienced hands,” Damien says.

Repeat clients are the norm. “We take a lot of time over every business and understand that generally 60 to 95 percent of the value is in the good will. We defend that business good will, and ensure it is protected and passed on,” Damien says. Integrity is key: Tabak does all its own due diligence and won’t broker a business if they cannot genuinely see the value in it. Damien says the three elements essential for excellent business brokerage are relationships, analysis of the business, plus wordsmithing. “You need to create a compelling document, setting out the information memorandum or company profile saying what it has done, where it is going, and identifying the new opportunities.”

An expert in the local market, Tabak’s niche is sales of businesses valued between $300,000 to $5 million, or generating more than $100,000 in owner profit, and excluding accommodation such as backpackers or motels; plus it is very selective about hospitality. Rather than commercial buildings, it’s about selling plant, stock and intangibles, or goodwill. Nationwide the company shares a database of more than 4,000 potential buyers. “Advertising is often not necessary and protecting confidentiality is a huge part of what we offer,” Damien says. “We love what we do, our business really is more than a job; it’s a calling – and our clients will testify to that.”

 



 

Quality Laundry Services

Your local laundry: Quality Laundry Services

American comedienne Phyllis Diller is famously said to have quipped “I’ve buried a lot of my laundry in the back yard”. Rather than Christchurch businesses having to resort to that radical means of dealing with soiled articles Quality Laundry Services Ltd offers a personalised package – pick-up, laundering and drop-off. No need to take the staffroom tea towels home to wash. They will come back pristine clean, folded and ironed.

Quality Laundry Services

Owner Paul Gray says Quality Laundry Services is a small business doing work for other small businesses. “We like to stay small and personal. Clients really like that and our helpful staff members, many of whom have been in the laundry business for years and years. Our company began back in 1995 so we do know a thing or two about washing and ironing and how to treat each and every item. We can handle whatever businesses send our way – from table clothes and napkins for cafés and restaurants, overalls, uniforms and high-viz vests for construction and the trades, or towels and sheets for motels.”
Quality Laundry Services uses specially-formulated eco-friendly laundry products which allow them to achieve perfect results at lower temperatures, saving energy and cutting out potentially harmful chemicals at the same time. Stain removal is a specialty, without resorting to colour-fading bleach. The largest of the company’s washing machine fleet manages a massive 70kg load and the Huebsch dryers automate the perfect drying time.
Visit www.qualitylaundry.co.nz to see a complete list of services. Email qualitylaundryservices@gmail.com or phone 03-374 2188.

Cameron Bailey

On top of the world: We chat to the number one Harcourts sales consultant in the world who just happens to be Christchurch’s very own Cameron Bailey

Cameron Bailey has been awarded the number one Harcourts sales consultant in the world and is also thrilled that the company he is part owner in has had its Papanui office announced as the top office for Harcourts out of over 800 offices globally. Metropol talks to Cameron about the 15 years of dedication behind the accolade.

Cameron Bailey

What attracted you to real estate?

I’ve always been a people person and prior to real estate I was working in hospitality – restaurants and cafés. I’ve always loved property since buying my first home at 20. The longer I’m in real estate, the more I realise it’s about the people and not the houses. I see a real estate agent as the middle man negotiating fair value between sellers and buyers. Building rapport and trust with both sides gets the deal done.

How do you get to be the No 1 Harcourts salesperson in the world?!

I’ve only achieved this accolade twice in a fifteen-year career. I think people see the award but don’t realise there’s fifteen years of hard work behind it to get there. I also have an amazing team of sales consultants and personal assistants that I work with who drive the business behind me. In this marketplace the successful agents are backed by a team, so they can provide better service and better support than a lone ranger agent.

What has been your recipe for success in the real estate space?

As I’ve said before, work ethic is always the basis for success but after fifteen years in the industry I bring to the table a lot of experience and credibility. In a tighter marketplace the credibility of the agent representing your property can mean extra money when it comes to the sale price. I always like to think that we’ve been ahead of the trends and other agents follow us and look at us for what to do in the market.

What does a day in your life look like?

Monday to Friday my alarm goes off at 5am. I go to the gym at 6am, breakfast at 7:30am, arrive at the office at 8:15am, I am in and out of appointments all day and I am constantly on the phone in between appointments. Usually I finish the work day after 8pm, or even later if I’m negotiating a deal or appraising a property. Saturdays and Sundays, I work both days and usually do 12-14 open homes for the weekend. Real estate is a lifestyle, not a job.

Besides from real estate what else are you passionate about?

I have two beautiful identical twin girls that are now seven, I try and spend as much time with them as I can and our favourite place to go for a quick week away is Fiji. I also try to lead a healthy lifestyle, I’m a fitness fanatic and I’m obsessed with eating healthy food. I’m trying to eat a keto based diet at the moment. I love travelling and I try to have some down time overseas a couple of times a year with South America being on the hit list in the near future. I’m also a car enthusiast; I’ve loved cars since I was a kid.

Any words to live by?

One of my favourite quotes at the moment is, “The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy” – Martin Luther King.