Waikato Business News September/October 2017

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18 WAIKATO BUSINESS NEWS September/October 2017 Economic Development Agency will add ‘grunt’ to economy Dallas Fisher is spearheading the creation of a Waikato Economic Development Agency. Watching efforts to fire up Waikato’s economic performance is a bit like waiting for a bus. Nothing for ages then they all arrive at once. By ANDREA FOX In recent weeks another two self-improvement vehicles, promising genuine stopovers in every corner of the region’s economy, have hit the road. If you’re still struggling to sort the Waikato Plan from Waikato Means Business and myriad business chambers of commerce and council economic development agencies, be not further muddled. The newcomers aim to simplify, amplify and streamline the region’s economic and social development initiatives while leaving existing players to get on with it. But both are calling on Waikato Inc to get aboard. One is a proposal for an over-arching Waikato economic development agency – with grunt. The other is up and running. Agenda Waikato is an incorporated society solely business-focused and led. It promises to engage with other Waikato groups, including local and central government, to achieve results for the good of the whole region, based on solid evidence and quality research. Fronted by businessman Graham Dwyer, it has already commissioned Waikato University to do a full SWOT (strengths, weaknesses, opportunities and threats study) and “balance sheet” of the region. The economic development agency (EDA) would take over from Waikato Means Business, a 20 year economic development strategy created with input from regional business leaders. Efforts to rally support and funding for the EDA are being fronted by business entrepreneur Dallas Fisher, chairman of Waikato Means Business. (WMB was set up by the regional council more than two years ago, ahead of the Waikato Plan. Fisher was invited on more recently to give it some oomph. He describes WMB as the economic development subset of the Waikato Plan.) The EDA would work with Agenda Waikato, chambers of commerce, council economic development agencies and local people, Mr Fisher says. “We’re not there to eat their lunch.” The idea is the EDA would address Waikato Inc’s rather feeble investment in itself, and chase government money that is available for regional economic development but not utilised here. Mr Fisher says WMB’s work shows Waikato’s investment in economic development (excluding Taupo) is just $20 per capita or 1.1 percent of local government spend, compared to the national average of $36 or 2.1 percent. “So we spend half the money everyone else spends on economic development. We need to get this thing properly set up and funded. The second big point is the government has money for economic development but it hasn’t been investing on a major basis in Waikato.” You can’t have 10 groups talking to MBIE. It’s about showing we’re organised, we’re focused. That we’re talking with one voice with all these groups in behind us, and we’re saying 'this is what Waikato wants. He says that’s because we don’t have an over-arching plan or speak with one voice The nucleus of the new economic development agency would be Waikato Innovation Park. on what we need. The Waikato is a very big region with multiple local authorities. Last year the Ministry of Business Innovation and Employment gave the Waikato just $85,000. This financial year Mr Fisher wants $518,000. The government offers two sorts of regional development money: dollar for dollar co-funding of sub-regional projects and funding for major projects that will change the economic landscape eg. its $10 million support for building a port at Opotiki. Mr Fisher says South Waikato, whose economic status is of concern to the government, is in line for the first category of funding. Research is needed to identify a priority major project for the Waikato. “Our job will be to find out and get the capital to make it happen with the government as one of our partners.” The nucleus of the new EDA would be Waikato Innovation Park. Owned by Hamilton City Council, the park is looking for a private investor buyer as the council can’t afford its expansion plans. Five economic development specialists from the park will be the EDA’s foundation staff. They’ll be funded by Callaghan Innovation and NZ Trade and Enterprise. Another six staff would be recruited. “This thing needs grunt but it’s about local focus, local people, local communities. We’ll be putting people out in the regions to help councils’ own economic development people go to the next level,” says Mr Fisher. WMB currently has one part-timer who is snowed with work, he says, while Waikato District Council is overwhelmed with opportunities. The EDA would need $2 million a year for projects and staff. That would come from local government, business and various trusts. Mr Fisher is “really encouraged” by the response of councils so far to his presentations. The suggestion for business support is that an enterprise with more than 100 employees could be asked for an annual grant of $10,000 to $15,000. Those with under 100 employees could join for $1000. On the trust front, WEL Trust is supportive, Mr Fisher says. “It’s about turning $1 into $4, getting $4 worth of grunt and value out of your dollar. Business has largely stayed away from this stuff, yet it is the core of it. “There will be no one dominant funder and it will not be Hamilton-centric. This is about everyone working together. That’s how we’ll make this happen.” The EDA would have a board of five business people and one or two local government representatives. Meanwhile Agenda Waikato has been offered two seats on the WMB board. Mr Fisher says the Waikato needs to speak with one voice to the government. “You can’t have 10 groups talking to MBIE. It’s about showing we’re organised, we’re focused. That we’re talking with one voice with all these groups in behind us, and we’re saying this is what the Waikato wants.” Mr Dwyer from Agenda Waikato isn’t convinced one voice is imperative “but singing the same song is incredibly important”. He sees the job of Agenda Waikato as holding elected “feet to the fire”. “We need to ensure our MPs are working for us, an EDA can’t do that. We need to make sure our councils are working together and hold them to account.” Mr Dwyer also ruled out Hamilton-centric leanings. “We need room and scope for good people to contribute. If people have ideas, passion and energy we want to hear from them. We need people to stand up.” Mr Dwyer says he doesn’t know how long Agenda Waikato will last. It could be as long as its first research effort or for 10 studies. The acid test, he says, will be whether it is judged by Waikato business to be effective and insightful.
WAIKATO BUSINESS NEWS September/October 2017 19 Transparent open advice from Frank Risk Management Their names are Andrew Newman and Rene Swindley, but their clients call them Frank. That’s because the award-winning insurance brokers, Frank Risk Management based in Hamilton and Matamata, are frank, upfront, and the way they do business is totally transparent. They provide full disclosure insurance with no hidden income. Their 15-staff won the Small to Medium Broking Company of the Year award at last year’s Annual Australian and New Zealand Institute of Insurance & Finance Awards. “We are committed to the principals of transparency and openness to clients, eschewing the traditional system of brokerage payments in favour of a fee for service model for all commercial clients,” Newman said. “We feel that the insurance industry would better represent clients if it moved away from commissions and profit share deals. We were not waiting for this to be regulated so decided to take the lead.” Newman and Swindley left the comfort of good paying jobs at a corporate broker to start the business in a Hamilton garage in 2009. Starting out as Hutchison Rodway with no customers, the partners and their staff have grown the rebranded business to more than 2000 clients, largely through word of mouth. Frank Risk Management was built on the belief that clients deserve complete openness when dealing with brokers. Clients can see exactly what the brokers do and assess this against the fees charged. We don’t have individual sales targets, but rather work as a team, meaning the client benefits from a team focused approach. “We commit expertise and significant resource to claims management, it’s our view that this is where our clients see the real value of insurance,” Swindley said. “We also take a longterm view of our client’s needs by encouraging them to look at risk management in a boarder context and commit resources to disaster recovery planning and proactive risk mitigation.” Frank Risk Management’s core clientele are commercial enterprises, including some large well-known corporates with a national foot print. The company is based on a core of five senior brokers, including Newman and Swindley, all of whom have at least 10 years’ experience in the corporate broking sector. Frank Risk Management’s support staff and claims managers have similar industry knowledge and depth. “We don’t have individual sales targets, but rather work as a team, meaning the client benefits from a team focused approach.” Newman said. “We don’t want to focus on sales over advice, we are here to provide support and get claims moving quickly.” This approach has attracted clients who have already had their claims rejected by their insurance companies through another broker. “They have heard that Frank Risk Management prioritises claims and that we have had claims paid where the previous insurance broker has failed,” Swindley said.” Frank Risk Management has also created its own insurance platforms including Frankie, which is the online brand of Frank. frankie.co.nz provides cost effective cyber and management liability insurance, and is done on the same principles of transparency and claims advocacy. Positivity and recognition for our region Recognition is something we all strive for and we are thrilled to congratulate some of our fantastic local tourism businesses and leaders on their recent award wins. Two of our biggest attractions garnered attention at the recent New Zealand Tourism Awards, with Hobbiton Movie Set’s marketing manager Shayne Forrest awarded the PATA Emerging Tourism Leader Award, and Tourism Holdings Ltd Waitomo operations supervisor for Black Water Rafting Angus Stubbs nominated for the Auckland Airport Tourism Industry Champion Award. It is great to see Shayne and Angus acknowledged for their outstanding contribution to our region and the industry. This is the second award for Shayne following his win of the 2017 Young TEC Excellence Award in Te Anau a few weeks ago. The New Zealand Tourism Awards also recognised the great work of national hotel chain and local operator Sudima with the Department of Conservation Environmental Tourism Award. Several Hamilton tourism-related business were also recognised in the Hamilton Central Business Association CBD Celebration Awards too - Waikato Museum, Little George, Madam Woo, Confinement, and Bowl & Social at SKYCITY Hamilton won TELLING WAIKATO’S STORY > BY JASON DAWSON Chief Executive, Hamilton & Waikato Tourism CBD Celebration Awards category winner Bowl & Social - SKYCITY Hamilton. awards for their great visitor experiences – well done to everyone involved! And to top that off, Raglan Rock and Raglan Shuttles both gained accolades for their customer service in the Waipa Business Awards too. A massive congratulations to everyone! The first Waikato-Tainui Tourism Symposium was held to inspire whanau and tribal members around the tourism potential of their stories, their land and its history. We have previously identified the story of Kiingitanga and the development of Maori tourism experiences as one of the five game-changers in our Tourism Opportunities & Development Plan, and it was pleasing to start seeing progress in this area. Inspirational speakers included Tahi Rangiawhia from Waireinga/Bridal Veil Falls night walking tours and Vienna and Taaniko Norstrom from Soldiers Road Portraits, who both shared their paths to success within their own tourism products. There was also a range of ideas and opportunities discussed, including how we can best use technology to tell our stories and create more opportunities for whanau-based tourism. If you want to learn more about our industry and where it’s heading, we are always open to coming along to present to business and community groups. Hamilton & Waikato Tourism are also planning our annual tourism industry symposium on Thursday 2 November – save the date and more details will be available soon. The recent award to Hobbiton Movie Set’s marketing manager Shayne Forrest is deserved recognition for an outstanding contributor to the industry.
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Waikato Business News September/October 2017

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