Waikato Business News July/August 2019

36 WAIKATO BUSINESS NEWS July/August 2019
Leading firm’s
donation launches
Hamilton CBD Fund
CBD Fund will link Hamilton’s generous
businesses and corporates to
transformational projects
Waikato’s leading construction
company is
kick-starting a new
philanthropic investment fund
that aims to transform the public’s
experience of downtown
Hamilton.
Foster Construction Group
has donated $50,000 to
Momentum Waikato’s Hamilton
CBD Development Fund
and will follow this up with
$25,000 a year for the next four
years, for a total initial contribution
of $150,000.
Local businesses, corporate
offices and philanthropists keen
to see Hamilton’s downtown
become a major drawcard for
the city are being invited to join
them in backing the fund.
“Fosters is all about creating
‘great communities through
strong foundations’,” says
group director and Momentum
Waikato Chair Leonard
Gardner, who spoke at the
CBD Fund’s breakfast launch,
held in July at FMG Stadium
Waikato.
“As a proud Waikato company,
we want to give back to
Victoria on the River makes a connection to the
Waikato River – the CBD Fund aims to enhance
Hamilton’s city centre and increase river access.
the city that enables our success
and is home to most of our dedicated
team and their families.
“We’re hoping that by
seeding this fund, we are able
to work alongside other CBD
landlords and businesses to
enable improvements in the
urban environment that would
not occur under the usual funding
processes.
“We invite other local businesses
keen to see the CBD
play a bigger part in attracting
talent to Waikato to join Fosters
in taking advantage of the simplicity
and focus that Momentum
Waikato offers with the
new CBD Fund.”
Momentum Waikato chief
executive Kelvyn Eglinton says
the CBD Fund will link Hamilton’s
generous businesses
and corporates to transformational
projects that enhance
the vibrancy and attractiveness
of the city centre and increase
access to its greatest natural
asset – the Waikato River.
“It is an exciting time to be
making things happen downtown.
The CBD Fund is a simple
and effective way for companies
to contribute towards
making Hamilton Central even
better.”
The CBD Fund’s Disbursements
Group will be convened
annually by Momentum
Waikato to identify the projects
it will support. It will initially
consist of representatives or
nominees from Fosters Construction,
Waikato Chamber
of Commerce, the Hamilton
Central Business Association
and the Waikato branch of the
Property Council. Any contributor
that donates more than
$25,000 in a given year will be
invited to join the Disbursements
Group for that year.
To find out more about the
Hamilton CBD Development
Fund contact Kelvyn Eglinton
at Momentum Waikato via kelvyn@momentumwaikato.nz
or
(07) 834 0404.
Banks ruthless over loan repayments
Few businesses get away
without taking out a
loan, even if it’s only to
launch their bright and new
endeavours in the business
world.
Establishing a new business
or expanding an established
business is an exciting time.
There’s usually much enthusiasm
and passion involved,
and you might hear plenty of
encouraging and supportive
words from your bank manager,
too.
However, when it comes to
protecting that loan they’ve so
readily given you, banks are
ruthless.
It’s their job to play hardball,
keeping proceedings
‘strictly business.’ A loan is a
loan and must be repaid. The
emotions your family will be
experiencing if you die or are
seriously disabled have no
bearing on a bank’s lending
terms.
As recently as last year, we
recommended a small business-owner
take out insurance
to cover his debt. However, he
preferred to simply give a personal
guarantee to the bank,
along with the normal terms of
the loan agreement.
Distressingly, he was later
involved in an accident which
left him with severe injuries,
including serious head trauma.
There was no prospect of his
ever returning to work.
As far as a bank is concerned,
that situation is the
equivalent of his having died.
His bank moved very quickly
to recover their loan. The business
was wound up and the
assets were sold under fire sale
circumstances.
Had the business owner
taken our advice, the debt
insurance would have covered
the loan re-payment to
the bank. The business could
have been wound up or sold in
a more orderly manner – and
undoubtedly would have realised
a much higher sale price
for the now-disabled owner
and his family.
Debt insurance is ideal for
a number of business loan situations,
from loans for updating
or purchasing equipment and
machinery to loans for buying
out one’s business partner or
perhaps to complete a research
and development project.
There are just as many loan
options available as there are
reasons for wanting one. They
include term loans, revolving
credit, mortgage finance,
Contemporary NZ art works for hire
in workplaces & private homes.
FrEE consultation & installation
Consultancy services available.
Portfolio Art Hire
Janet Knighton
P 021 059 0028 E art.hire@xtra.co.nz
corporate finance and lease
arrangements. These can be
secured in several ways, such
as putting in place loan agreements
or mortgages, a personal
guarantee or a deed of debt.
Unfortunately, the risks
associated with debt are
numerous and daunting. Potential
financial disasters come in
the form of bankruptcy, bank
foreclosure, major issues with
key people – directors and
shareholders – and all the possible
events which render a
business incapable of repaying
a loan (or the interest) on its
due date or on demand.
As always, in business, the
stress, distress and grief which
come with the injury or death
of a business owner or shareholder
impact heavily on those
left behind – even causing
life-changing or life-threatening
health issues. Insurance
is damage-control which is
so much easier to put in place
than it is to manage the fall-out
from not having debt insurance
cover at all.
This year’s Kudos Awards finalists continue
to show that science thrives in Hamilton and
Waikato.
Eighteen finalists have been named in the region’s
science excellence awards recognising research and
scientific innovations in agriculture, medical, engineering,
environmental, ICT and education.
Finalist achievements range from new ways to
reduce and eliminate the use of antibiotics for mastitis
in cattle to genetic variations reducing nitrogen leaching,
and from improving outcomes for trauma patients
to world leading research on survival of marine species
and coastal impacts shaping our coastlines.
An eminent scientist to be named on the night will
also receive the supreme award for lifetime contribution
to science.
“Our finalists are a reflection of the calibre of scientists
living and working across our region,” says Prof
Ross Lawrenson, chair of the Kudos Science Trust.
“Being able to showcase the wealth of scientific
expertise and achievements from Waikato is inspiring
for our community and region.”
The awards will also acknowledge the achievements
of Waikato’s top science students who will share
the limelight when this year’s winners are announced
at the 13th Annual Kudos Awards Gala Dinner on September
5.
• Tickets to the Kudos Awards on September 5 can
be purchased at https://www.thekudos.org.nz/thekudos-awards/#tix
INSURANCE MATTERS
> BY DAVID COONEY
David Cooney is a director of Cambridge-based Cooney Insurance
Kudos Awards name science finalists
the 2019 finalists are:
Wintec Secondary Science
Teacher/Educator Award
Lynnette Rogers, Kukutaaruhe
Education Trust
Ricci Wesselink, Wintec
Rachael Goddard, University of
Waikato
Hill Laboratories Laboratory
Technologist Award
John Williamson, DairyNZ
Karen Thompson, NIWA
Raewyn Keene, St Pauls Collegiate
Kudos Science Trust Food & Ag
Award
CRV Ambreed LowN
Farm Medix
Hamilton City Council ICT
Award
Matthew Luckie, University of
Waikato
Waikato Data Portal Team, Waikato
Regional Council
Datamars Engineering Science
Award
Amir Tarighaleslami, University of
Waikato
Lee Streeter, University of Waikato
Waikato Regional Council
Environmental Science Award
Jonathan Caldwell, Waikato Regional
Council
Drew Lohrer, NIWA
Julia Mullarney, University of
Waikato
Waikato DHB Medical Science
Award
Doug White, Waikato DHB
Midland Trauma Research Centre
Ruth Martis, Wintec
University of Waikato Lifetime
Achievement Award
Recipient announced at the Kudos
Awards Gala Dinner on 5th
September