Bay of Plenty Business News February/March 2018

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24 BAY OF PLENTY BUSINESS NEWS February/March 2018 WAIKATO NEWS Economy ‘partying too hard’ says economist New Zealand’s economy has been partying too hard but the hangover should only be a minor one, according to an ANZ economist. By CAITLAN JOHNSTON Phil Borkin – speaking at a business summit in Hamilton in February - said the economy is due for a few speed bumps but any economic correction won’t be as severe as the 2007 recession. “There are signs that the economy has been partying too hard,” said Mr Borkin at the event at Hamilton Gardens. “Housing debt is at its highest it’s ever been and skill shortages, poor productivity growth and political change all suggest signs of a vulnerable cycle. “Things are going to get harder, but not hard. The vulnerabilities are nowhere near as extreme as they were in 1997 or 2007” he said. Most of the talk at the second annual Waikato Business Summit concerned the region’s growth. The summit was a joint collaboration between ANZ, BDO Waikato, Chartered Accounts NZ and Xero. BDO Waikato managing director Bernard Lamusse said events such as the summit were key for businesspeople to enable them to gain insights from the speakers and network. “We have an outstanding line-up of speakers who will offer valuable insight into our local and global economies and will contribute to discussion about key issues facing our region in terms of business growth,” said Mr Lamusse. Finance Minister Grant Robertson highlighted the strong levels of population growth that the region is experiencing due to Hamilton’s strategic location within the Golden Triangle. “Projections show that Hamilton is well on its way to being a city with more than 200,000 residents by 2034 and 225,000 by 2041, effectively adding the current population of Palmerston North to the city in that time,” said Mr Robertson. He said the Government had priorities to help Hamilton growth with a new policy platform to help tackle housing and transport bottlenecks, Hamilton City Council general manager of city growth Kelvyn Eglinton. while driving regional development. He confirmed that the new Government has accepted the business case for Peacocke subdivision as part of the Housing Infrastructure Fund, an initiative by the former National Government. The funding would allow for 3750 new houses in the Peacocke area, south of Hamilton, within the next 10 years, rising to a total of 8400 homes in this area in 30 years’ time. “Final documentation is being worked on by officials and Hamilton City Council staff, and the council still needs to consult the community through its long-term plan process. But we expect that construction can start in earnest when long-term plan approval is gained in June.” ANZ economist Phil Borkin at the Waikato Business Summit. “Within this plan, a new southern link road, connecting to the existing State Highway 1 on the western side of Hamilton, will swing past the southern edge of Peacocke, also linking a new Airport Employment zone with the eastern side of the city.” Hamilton mayor Andrew King talked about the positive relationship with the Gov- ernment making special note of the Housing Infrastructure Fund support for Peacocke. “Our relationship is very strong and they support what we’re doing here in Hamilton” said Mayor King. Hamilton City Council’s general manager of city growth Kelvyn Eglinton gave an extensive briefing on the city’s growth and its plans. Airport company buys hotel Waikato Regional Airport Limited (WRAL) has purchased Hamilton Airport Hotel and Conference Centre. The sale includes the acquisition of all buildings and the ground lease as well as the existing hotel and conference business. Current operators, Hamilton Airport Hotel Limited, will lease back and continue to operate the hotel and conference centre at least until January 2019, 12 months from the date of purchase. WRAL chairman John Spencer said the acquisition was in line with WRAL's strategic objective to grow its non-aeronautical revenue stream. “Ownership of the hotel provides an opportunity to further develop and enhance the range of services offered within the airport precinct.” WRAL, the parent com- Waikato Regional Airport chairman John Spencer. pany of Hamilton & Waikato Tourism, cites regional tourism growth plus ongoing demand for accommodation and conference facilities as supporting reasons for the purchase. The Ministry of Business Innovation and Employment’s (MBIE) Regional Tourism Estimate lists Hamilton and Waikato as the fifth largest region in New Zealand in terms of visitor expenditure (behind Auckland, Wellington, Christchurch and Queenstown). An estimated $1.456 billion was spent in the region for the year ending October 2017, an increase of six per cent on the previous year. Commercial guest nights for the Waikato region are also rising. The latest Commercial Accommodation Monitor figures released by MBIE show three percent year-on-year growth for the year ended November 2017, a total of 1.42 million guest nights. “With a number of new businesses in the area and record numbers attending events such as Equidays and Fieldays at nearby Mystery Creek Events Centre, demand for accommodation near the airport has grown,” Mr Spencer said. As well as purchasing the hotel and conference centre, the airport company has recently established five new fully-equipped meeting spaces within the Hamilton Airport terminal building. WRAL chief executive Mark Morgan said the airport receives a steady stream of inquires for conference facilities and meeting rooms. “Our new facilities have already proven popular to businesses who regularly utilise the airport,” he said. “They will complement the existing facilities already at the Airport Hotel and Conference Centre.” WRAL is a council-controlled organisation owned by Hamilton City, Otorohanga, Waipa, Waikato and Matamata-Piako District Councils and is the umbrella for subsidiary companies; Hamilton Airport, Hamilton & Waikato Tourism and Titanium Park Limited. New boss at Momentum Hamilton City Council’s high profile general manger city growth Kelvyn Eglinton has been appointed as Momentum Waikato’s new chief executive. Mr Eglinton will take up the role at the community foundation in mid-March. Founding chief executive Cheryl Reynolds has left after four years at the helm to establish a new social enterprise for generosity. Momentum Waikato chairman Leonard Gardner says he is pleased the foundation’s board has appointed Mr Eglinton. “We are grateful Kelvyn is joining us. He has a very strong background in community engagement and growth and that, combined with his strategic approach, will drive Momentum Waikato through its next important phase.” Mr Gardner says Mr Eglinton is a strong supporter of the Waikato region, and will be a perfect fit for what is a unique role in New Zealand. Momentum Waikato Community Foundation is an independent, permanent resource for high-impact philanthropic giving within the Waikato region, linking generous donors to strategic charitable investments targeted at transformational change. Among other things it is currently convening donations to deliver the new Waikato Regional Theatre. Mr Eglinton, who has held the city growth role at Hamilton City Council for two years, has a strong background in corporate social responsibility in mining in New Zealand and Australasia, and has long-term connections to Waikato. “The Momentum CEO role was very attractive because my background is in working across communities and within corporate organisations, particularly around corporate social responsibility. Waikato is on the cusp of great things and Momentum Waikato is aligned with many good business people seeking to make the region a better place.” He plans to build on the work already put in place by Ms Reynolds and the Momentum Waikato team to specialise in brokering deals by connecting donors and projects, and to make Waikato the most generous region in the world. “We have about 460,000 people across our region, making us the third biggest economy in New Zealand. We have communities wanting to build a sense of place, a strong iwi in Waikato Tainui and solid opportunities to leverage across projects and programmes. So, we’re big enough to trial things but we’re flexible and have great connections, and therefore we can adapt and amend quickly if we need to.” Mr Eglinton says Momentum Waikato already has the support of many generous individual donors, and he’ll also be looking to work with corporate, iwi and community organisations to benefit the Waikato community. “Corporate social responsibility is still really in its infancy in New Zealand, but we are seeing great changes in many industries. I hope to New Momentum chief executive Kelvyn Eglinton. be able to talk with companies here about providing benefits to communities in such a way that makes good sense to organisations.”
25 Master the art of networking While it is necessary to grow your online professional networks though the likes of LinkedIn, this should never replace face-toface business networking. Networking is an essential part of building relationships, opening yourself up to new ideas or ways of thinking, seeking opportunities and raising your profile. In fact, it’s the personal connections you make that will create referrals for you and your business. There are very few natural networkers. Most business owners and professionals must work at it. The good news is there are some easy things you can do to improve your networking skills and success. Here are a few tips to get you started: 1. Be one of the first to arrive. Don’t be late, but rather try and arrive a few minutes early. The event will not be busy yet, making it easier to find people to introduce yourself too. This is a lot less daunting thant trying to break into already established groups deep in conversations. 2. Try to ask open questions when meeting people. Use who, what, where, or when, rather than something that can be answered with a simple yes or no. This encourages discussion and shows listeners that you are interested in them. 3. Don’t focus on selling your product or service. Networking is about building connections. There is nothing more off-putting than people who try to hard sell themselves or their business. People will want to speak with and are more likely to do business with you afterwards if you connect with them on a personal and authentic level. 4. Remember people’s names. To help, repeat people’s names back to them when they introduce themselves. Then use the name once or twice throughout the conversation. This will help you cement their name and face into your memory banks. 5. Be prepared. Know how to tell people what you do or what your business is about in a few sentences. Also have business cards handy so you can easily give them out. 6. Share your passion. People are more likely to remember you and connect with you if you share why you do what you do. 7. Smile - smiling is a networking super power. Not only will it make you feel more comfortable, it will put others at ease too. You will come across as warm and inviting and someone people want to meet and talk to. 8. Follow-up. There is no point networking if you are not going to do the work GROWING YOUR BUSINESS > BY DARREN MCGARVIE Darren McGarvie is co-founder and Chief Coach of the Firestation, the Bay’s only business growth centre. To find out more go to www.thefirestation.nz or email grow@thefirestation.nz after the event. Connect on LinkedIn with the people you have met, and if appropriate follow up with an email or phone call. Now you have the skills and knowledge, find out where you can practise them. Search for networking groups in your area. You will be pleasantly surprised in what is around. In the Bay of Plenty we have the usual Chamber functions, but a host of other groups and events including Rotorua X, Tauranga Entrepreneurship Meetup, Export NZ, EMA Briefings, The Networking Group, INfuzed and BNI to name just a few. If you’re unsure what’s around, then reach out to a local coworking space or economic development agency, as they usually know what’s around. So, get started now. Find out what’s available, put events in your diary and put these tips into action. You will quickly see your connections and networks grow and the positive impact it will have on your business. Connect your business with Tauranga's most connected networking group “The Networking Group is committed to connecting, improving and growing New Zealand businesses in a structured networking environment.” TNG is different to other networking groups in the sense that we create a relaxed atmosphere for you to network and grow your businesses through word of mouth marketing. Our meetings allow you to feel comfortable and enjoy yourself whilst investing time to work on your business. Visit us today: Meetings are held fortnightly on Wednesday’s and the following Thursday’s at 9am-10am, The Raft Cafe, Bay Central Tauranga. Keen to start your own group in another region of the Bay of Plenty with our marketing and systems, please contact: Melanie Budden – The Networking Group Tel: 021 209 3210 e: sales@tng.org.nz www.tng.org.nz P6407Y
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Bay of Plenty Business News February/March 2018

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