February 2020 - BAY OF PLENTY BUSINESS NEWS

FEBRUARY 2020 VOLUME 4: ISSUE 2 WWW.BOPBUSINESSNEWS.CO.NZ FACEBOOK.COM/BOPBUSINESSNEWS
MARINE PRECINCT RAISES BAY’S
PROFILE AS A REFIT CENTRE
Tauranga’s ambitious
Sulphur Point-based
Marine Precinct has
shouldered its way
through a challenging
first couple of years
in operation. The
Precinct hit a new
milestone in February
when high end vessel
painting company
Super Yacht Coatings
was finally able to
begin building the
foundations for its
massive new paint
shed.
BY DAVID PORTER
Despite some negative reports
last year on issues
raised by a few stakeholders,
the Precinct – which
was several years in conception
and construction and formally
opened in August 2018
– now seems to have resolved
many of the challenges it initially
encountered.
Super Yacht Coatings
is one of half a dozen or so
marine companies now operating
around the Precinct’s
Continued on page 3
All photos/supplied
economy
Central Banks
committed to low rates.
P9
kiwifruit
Red variety finally makes
it to market.
P16
honey
Glut in production
worries beekeepers.
P17
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COVER STORY
February 2020 BAY OF PLENTY BUSINESS NEWS 3
Marine
Precinct
raises Bay’s
profile as a
refit centre
From page 1
centrepiece high spec 6300
sqm hardstand, which features
New Zealand’s biggest vessel
travel hoist, the 350 tonne
Hikinui.
They include Tauranga
marine businesses and people
that have had a long association
with the area such as Don
Mattson of Hutcheson Boat
Builders, and Sean Kelly, now
running Pacific 7.
Super Yacht Coatings,
owned by Mark Hanna and
Regan Woodward – originally
from the Bay – expanded from
their main operational base in
Auckland. (see accompanying
story)
Hanna told Bay of Plenty
Business News that having
grown up locally, the two directors
were naturally keen to
migrate back to the Bay sooner
rather than later. The Precinct
provided a perfect opportunity
to do that, whilst also allowing
them to continue their Auckland
operation where they
have worked hard to build a
really solid reputation.
“Our consent process was
definitely challenging,” he
said. “However, we are now
focused on the future, and really
excited at the prospect of
attracting some pretty amazing
yachts [and other vessels]
to the region. This will be
nothing but positive for the
local marine industry, and
the local business community
generally.”
The Bay of Plenty Regional
Council is the funding partner
for the project, contributing $5
million to a total cost of around
$12 million, mostly covered
by the sale by Tauranga
City Council of properties
at and near the site to marine
businesses.
Previously, the site was
dogged for years by complaints
from marine operators
that they were unable to secure
Phil Wardale
long term tenancies to develop
their businesses strategically in
the area.
Some of the remaining issues
relate to the views of some
stakeholders over the TCC’s
operational role in the Precinct.
TCC operates the travel
Continued on page 5
The average [vessel] stay was far longer than we expected and
forecast - we’re doing a lot more bigger projects and people are
staying longer.”
– Phil Wardale
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4 BAY OF PLENTY BUSINESS NEWS February 2020
CONTACT
INFORMATION
PUBLISHER
Alan Neben
Ph: (07) 838 1333
Mob: 021 733 536
Email: alan@bopbusinessnews.co.nz
EDITOR
David Porter
Mob: 021 884 858
Email: david@bopbusinessnews.co.nz
PRODUCTION
Copy/Proofs/Graphic Design
Times Media – Clare McGillivray
Ph: (09) 271 8067
Email: clare@times.co.nz
ADVERTISING
INQUIRIES
BUSINESS DIRECTOR
Pete Wales
Mob: 022 495 9248
Email: pete@bopbusinessnews.co.nz
www.bopbusinessnews.co.nz
ELECTRONIC
FORWARDING
EDITORIAL:
News releases/Photos/Letters:
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Bay of Plenty Business News has
a circulation of 8000, distributed
throughout Bay of Plenty between
Waihi and Opotiki including
Rotorua and Taupo, and to a
subscription base.
www.bopbusinessnews.co.nz
Bay of Plenty Business Publications
210/424 Maunganui Road,
Mount Maunganui, 3116
Bay of Plenty Business
Publications specialises in
business publishing, advertising,
design and print media services.
From the editor
In this month’s cover story we
revisit one of the Bay’s most
significant infrastructure
developments.
Tauranga’s ambitious Sulphur
Point-based Marine Precinct
has shouldered its way
through a challenging first
couple of years in operation.
The Precinct hit a new milestone
in February when high
end vessel painting company
Super Yacht Coatings was finally
able to begin building
the foundations for its massive
new paint shed.
Despite some negative reports
last year on issues raised
by a few stakeholders, the Precinct
– which was several years
in conception and construction
and formally opened in August
2018 – now seems to have resolved
many of the challenges
it initially encountered.
Super Yacht Coatings is
one of half a dozen or so marine
companies now operating
around the Precinct’s centrepiece
high spec 6300 sqm
hardstand, which features New
Zealand’s biggest vessel travel
hoist, the 350 tonne Hikinui.
They include Tauranga
marine businesses and people
that have had a long association
with the area such as Don
Mattson of Hutcheson Boat
Builders, and Sean Kelly, now
running Pacific 7. Super Yacht
Coatings, owned by Mark
Hanna and Regan Woodward
– originally from the Bay – expanded
from their main operational
base in Auckland.
Hanna told Bay of Plenty
Business News: “This will be
nothing but positive for the
local marine industry, and
the local business community
generally.”
Meanwhile, Bay of Plenty
beekeepers and honey producers
are finding business tough
as honey prices plunge to near
record lows, with little sign of
recovery. The price fall comes
amid a flood of bulk Chinese-produced
honey hitting
global markets, leaving New
Zealand producers incapable
of matching it and making a
profit at prices now as low as
$3.50 a kg.
Russell Berry, head of family-owned
and Rotorua-based
Arataki Honey, said he fully
expected a number of beekeepers
to be out of business in the
coming year as a result of the
price slide.
Berry has spent more than
60 years involved in the industry.
The high prices several
years ago and the attention focused
on Manuka honey had
encouraged significant numbers
of new beekeeping ventures
to start, he said.
Today New Zealand has record
high hive numbers, totalling
1.0 million, up from only
270,000 a decade ago and now
has more hives than Australia.
After many years of delays
and breeding challenges,
Zespri has given the green
light to growers wanting to
trial the long-awaited Red variety
of kiwifruit.
Prospects are that 150ha
will initially be planted, depending
upon budwood availability
this autumn.
The pathway to Red’s commercialisation
has been a long
one. Initial hopes the launch
would come almost a decade
David Porter
ago were dashed by the arrival
of Psa.
The impact on the varieties
cultivated by Plant and Food
Research was devastating,
wiping out 80 percent of the
fruit’s first-generation cultivars.
Promises the fruit would
be finally available three years
ago stalled. But the marketer
has now announced a soft
launch for issuing the new variety
to growers.
The latest iteration of the
breed is sourced from the cultivars
that survived the Psa
outbreak. David Courtney,
Zespri’s grower and alliance
leader, said the latest cultivar
had proved to be tolerant to Psa.
Another challenge has been
ensuring the fruit had adequate
shelf life to make it a viable
exporting option.
Courtney said it was acknowledged
the Red variety
required softer handling and
had a shorter shelf life. For this
reason, Asia was most likely to
be the first destination for the
limited export volumes as production
ramps up.
Trials will continue in other
Zespri production regions in
Northern Hemisphere to determine
the commercial potential
of the cultivar in different
environments.
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COVER STORY
February 2020 BAY OF PLENTY BUSINESS NEWS 5
Momentum picking up at the Precinct.
Marine Precinct raises Bay’s
profile as a refit centre
From page 3
Our aim is to be one
of New Zealand’s
eminent marine
precincts, putting
Tauranga on the map
as a destination for
marine services.”
– Paul Davidson
hoist and hard stand through
consultant Phil Wardale and
his company. Some stakeholders
would prefer to see the hard
stand operations brought under
the control of the marine businesses
operating on the site.
One source who asked not
to be named said it came down
to whether the council should
be in the business of being a
business, and suggested there
was a need for people with
more direct experience in managing
such a yard.
Paul Davidson, TCC
general manager corporate
services, said to make sure
stakeholder’s concerns and
ideas were heard, council had
formed an Advisory Group to
ensure future developments of
the precinct were fit for purpose,
and not only meet the
needs of current stakeholders,
but also future tenants.
“This new group includes a
range of current precinct stakeholders,
and their input will be
vital in helping make decisions
about future developments including
the future wharf,” he
said.
“While the Vessel Work’s
design has changed over the
course of the project, decisions
have been made after engaging
with stakeholders to ensure facilities
meet the needs of the
users, such as commercial vessels
and fishing fleets.”
Raised profile for Bay
capabilities
What no one appears to be
disputing is the fact that the facility
has sharply raised the region’s
visibility as a key centre
for servicing, repairs and refits
for vessels that have ranged
from Matakana Island’s log
truck carrying barge, to high
end superyachts, and legendary
racing yachts such as Beau
Geste, due to be relaunched in
February after completing a
lengthy stay.
Phil Wardale emphasized
the Precinct wasn’t just attracting
superyachts. He told Bay
of Plenty Business News there
had been 49 boats lifted last
year, with a total tonnage of
just over 5000 tonnes.
“The average stay was
far longer than we expected
and forecast,” said Wardale.
“We’re doing a lot more bigger
projects and people are
staying longer.”
Wardale said the mixture
of vessel types lifted had been
just over 60 percent of “black”
boats – commercial fishing
boards, workboats and barges
– compared to the balance of
superyachts and “white” recreational
boats. in terms of number
of lifts.
That included vessels such
as local fishing boats in excess
of 50 tonnes that were too big
for local marinas and would
otherwise have been forced to
go to other centres for services,
said Wardale.
One of the key drivers for
councils’ support of the Precinct
was to encourage the
growth of the Bay’s marine
sector, and business more generally
in the Bay. And with
vessels staying for weeks and
in some cases several months,
the facility has provided a welcome
injection of revenue to
the Bay – not just in direct marine
costs, but also in accommodating
and feeding crews.
All sites now settled
A major problem for many of
the stakeholder investors in the
Precinct during initial operations
was the slow delivery of
consent and other permissions
necessary to allow the companies
to finalise setting up their
businesses at the new site.
According to Wardale, all
sites have now been settled and
the Precinct had reaffirmed the
rationale for council and the
Regional Infrastructure Fund’s
investment and commitment to
the industry.
“We’ve demonstrated that
with careful management you
can have a yard with both
commercial and recreational
vessels being lifted,” he said.
“And the big takeaway is
that the Precinct has put Tauranga
on the world stage in
Don Mattson
I think that some of the detractors need to
get behind the place now and support it
positively, rather than being so negative.”
– Don Mattson
terms of it being a refit centre
and facility and destination.”
One of the issues that surfaced
last year was complaints
from local fishing boats that
the hard stand did not take into
account their berthing and offloading
needs, but this is being
addressed through the inclusion
of fishermen representatives
on the Advisory Group.
Jim McManaway, director
of Specialised Metal Fabricators
Ltd (SMF), said there was
activity at the site with boats
being lifted and work undertaken
by local companies.
He noted especially the role
of Super Yacht Coatings in
attracting major vessels to the
Precinct.
“Well done Super Yacht
Coatings,” he said. “They’ve
brought a lot of business to
town and have done a fantastic
job in bringing a lot of those
big boats into town.”
Pacific 7’s Sean Kelly has
a long association with the site
before it became the Marine
Precinct. He continues to operate
a range of workboats and
a year or so ago manufactured
and launched an innovative
electric boat now being leased
by the Department of Conservation.
He expects to launch a
larger 10 m electric aluminium
catamaran in the next couple
of months.
Kelly has been outspoken
about his dissatisfaction with
aspects of the Precinct and
told Bay of Plenty Business
News he felt a new culture was
required.
“I’ve got reservations about
the management and level of
service,” he said. “But we’re
very slowly working through
the problems. One way or another
we will get there.”
High quality site
But Kelly acknowledged that
physically the hard stand and
hoist were of a high standard.
“There’s absolutely no
question that it was a good decision
to go ahead with building
the facility. “
Don Mattson of Hutcheson
Boatbuilders is another veteran
of the site and longtime
campaigner for creating the
Precinct.
He told Bay of Plenty Business
News it had been worth
it, despite the challenges, add-
Continued on page 6

6 BAY OF PLENTY BUSINESS NEWS February 2020 COVER STORY
ONSITE SERVICE
PROVIDERS AT THE
MARINE PRECINCT
Pachoud Yachts
Pachoud Yachts is an innovative
boat-building company, specialising
in the construction of luxury composite
yachts, which has been operating in
the Bay for more than three decades.
Super Yacht Coatings
SYC specialises in fairing and painting
large luxury vessels and has worked
for numerous boat builders, shipyards
and yacht owners worldwide since its
formation in 2011.
Pacific 7
Pacific 7 is a marine contracting company
that supplies marine services to
local and central government, including
piling, surveying, salvage and
mooring, and is developing a range of
electric workboats.
RMD Marine
RMD Marine is a fishing company,
fishing from the West Coast to the
East Coast of the North Island. The
company owns and operates fishing
vessels ranging from 15mto 26m in
size. RMD Marine have been working
with Aotearoa Fisheries since
1993, the largest Iwi-owned fisheries
company.
Hutcheson Boatbuilders
Specialised Metal Fabricators
Ltd (SMF)
SMF offers contract manufacturing,
metal fabrication and machining services,
including all types of marine
stainless steel, aluminium and other
metal-based work across the full range
of boat hardware.
Matamata Motor Trimmers
(MMT)
Matamata Motor Trimmers is a locally
owned and operated business,
which is a well-established specialist
in clears, covers and upholstery. They
cover anything from curtains, carpets,
umbrellas, indoor and outdoor covers,
clips and more, and occupy a corner
site on Cross Road at Vessel Works.
Hutcheson Boatbuilders has been in the marine business since 1993 and is wellknown
nationally for its high-quality boat building workmanship.
Variety of vessels being serviced.
Marine Precinct
raises Bay’s profile
as a refit centre
From page 5
ing that he had been sceptical
when the Precinct planners
opted for a larger hoist than
was originally intended.
“But I retracted that when it
opened. I think the bigger size
has been worth it.”
Mattson acknowledged
there had been some teething
issues and some of the
detractors had reasons to be
disappointed.
But he said the stakeholders
would work through that.
“We’re seeing local boats
getting serviced here, which
has kept that money in town.
There are some issues that
need to be fixed, but I believe
they’re being sorted.”
All of the marine service
companies were getting work
off the boats coming in, and
Super Yacht Coatings’ new
shed was now underway,
which would help drive more
business, said Mattson.
“I think that some of the
detractors need to get behind
the place now and support it
positively, rather than being so
negative.”
TCC’s Paul Davidson said
the goal for the Precinct was to
drive economic growth in the
sector, creating more jobs for
people in the community.
“Our aim is to be one of
New Zealand’s eminent marine
precincts, putting Tauranga
on the map as a destination
for marine services,” he
said.
Marine Contractors
Work Boats
Engineering
ENGINEERING VESSEL REFITS MARINE CONTRACTOR
Services for ALL
TYPES of vessels
from barges to
super yachts
• Refit, repair, major alterations,
new installations
• Project management, marine
consulting and survey
• Welding, tank cleaning,
corrosion repairs, repowers
33 Mirrielees Road,
Tauranga 3110,
New Zealand
Contact: Sean Kelly
Mobile: 027 588 8916
Email:
sean@pacific7.co.nz
www.pacific7.co.nz

COVER STORY
February 2020 BAY OF PLENTY BUSINESS NEWS 7
Super Yacht Coatings’ crucial role
in Precinct services
A key element in the Marine Precinct’s development has been the commitment of Super Yacht Coatings and the major vessel
projects it has already brought to the site. And the company’s presence is likely to become even more crucial with the longawaited
launch this month of the construction of their massive 1300 sqm paint shed on the approximately 2400 sqm site.
By DAVID PORTER
Created by Bay of Plenty
boys Regan Woodward
and Mark Hanna,
Super Yacht Coatings established
a worldwide reputation
for its superyacht finishing
while based in Auckland.
The company signalled
early in the planning of the
Marine Precinct that it was
keen to relocate major operations
to the Bay as part of its
overall business expansion. It
currently has around 45 staff
split between the Bay and
Auckland.
Phil Wardale, manager of
TCC-owned Vessel Works,
which runs the hardstand and
travel lift, said the precinct’s
planners always knew that
securing a good painter to
the site would be key to its
success.
“And they are very good,”
said Wardale.
“When council selected
them as a successful tenderer
on the site and brought forward
that area into stage one,
the council knew it was going
to be a benefit to the precinct.”
Woodward and Hanna
have a combined 35-plus
years’ experience and an international
reputation that has
helped draw clients to the Precinct
and in turn has generated
spin-off work for the many
high quality marine service
providers working both on
and off site.
Hitting the sweet spot
The new facility will allow
the company to hit its “sweet
spot” of providing top quality
refits to superyachts in the
30m to 50m range, said general
manager Ben Steele.
But it will also be handling
smaller and some larger
yachts, depending on tonnage,
he said.
He added that Vessel
Works was working on improving
the on-water refit
wharf, which could bring
large superyachts and megayachts
to Tauranga to complete
their refits.
“This would be huge for
the region,” said Steele.
A major goal was reached
this month with the formal
beginning of foundation work
for the shed, which Steele said
will include full, protected,
spray and refit facilities as
well as office space.
Super Yacht Coatings,
which has been operating out
of a rented shed nearby, as
well as on wrapped vessels on
the hardstand itself, ran into
a few challenges getting their
Building Consent, which was
finally approved last year.
It is understood the delays
were largely because council
had not previously had to
approve a spray paint shed on
such a large scale and wanted
to ensure that all potential environmental
and safety issues
were properly addressed in the
build.
“There have been a few
teething problems and stumbling
blocks,” said Steele.
But the company has still
been involved in completing
several major projects over
the past year, he said.
And now that the consent
issues have been cleared up,
Super Yacht Coatings was
now in a position to begin
heavily promoting its services.
Steele noted that Super
Yacht Coatings was proud to
have helped draw to the Precinct
revenue in the millions
of dollars for specialist local
marine companies, that would
otherwise have gone to other
regions.
“The precinct is a great
facility and we really enjoy
being a part of it,” said Steele.
“Since the beginning of
this year we’ve already noticed
momentum building up.”

8 4 BAY BAY OF OF PLENTY PLENTY BUSINESS BUSINESS NEWS NEWS February January 2020 2020
Dispute
Bay of plenty
resolution
in NZ – the times
www.bopbusinessnews.co.nz
they
CONTACT
are a-changin’
ELECTRONIC
INFORMATION
FORWARDING
PUBLISHER
EDITORIAL:
Cheaper Alan Neben and faster court resolution for News Intellectual releases/Photos/Letters: Property (IP)
disputes Ph: (07) is 838 on 1333 its way – maybe. david@bopbusinessnews.co.nz
Mob: 021 733 536
Email: alan@bopbusinessnews.co.nz PRODUCTION:
On 16 December 2019,
the Rules Committee
EDITOR
– a statutory body that
has responsibility for procedural
David rules Porter in the Supreme
Court, Mob: the Court 021 of 884 Appeal, 858 the
High Court and District Court
– called for feedback on potential
reforms to the rules governing
STUDIO civil trial MANAGER procedures in
the High Court and the District
Court.
Tania Hogg
The Ph: Committee (07) 838 1333 is seeking
feedback from the legal
profession and “other courts
users” (which I assume means
businesses GRAPHIC and DESIGNER members of
the public)
Olivia
on
McGovern
reforms “to improve
access to civil justice”
by keeping Ph: (07) the 838 costs 1333 of coming
to court proportionate to the
nature and value of the issues
in dispute.
The ADVERTISING
Committee is considering
four specific proposals:*
1. Short
INQUIRIES
form trial
procedures;
2. Inquisitorial-type BUSINESS DIRECTOR processes
Pete Wales (instead of current
adversarial processes);
3. Summary
Mob: 022
judgment
495 9248
triage
procedure; and
4. Streamlining pre-trial and
Email: david@bopbusinessnews.co.nz
Email: tania@dpmedia.co.nz
Email: olivia@dpmedia.co.nz
Email: pete@bopbusinessnews.co.nz
From the editor
trial processes.
Expensive reality
I won’t go into
Copy/Proofs:
the specific
proposals here, but production@dpmedia.co.nz
my preliminary
opinion is that they are a ceedings can be expensive,
It’s no secret that court pro-
step in the right direction. SUBSCRIPTIONS: too, with the unfortunate reality
being that most businesses,
Something is
info@bopbusinessnews.co.nz
missing
though, in my view: a proposal especially SMEs, can’t afford
to establish a specialist IP disputes
tribunal.
court proceedings. As a result,
Bay of Plenty Business
SMEs don’t
News
enforce
has
their IP
At present, if a you’re circulation the of rights 8000, as distributed they should and thus
owner of a registered throughout trade Bay are of deprived Plenty between of access to justice.
The current system of
mark, for example, and someone
is infringing
Waihi
your rights
and Opotiki
court-based
including
IP dispute resolution
is and thus to very a unsatisfactory
in that trade mark, Rotorua your options
to resolve the subscription dispute are base. – indirectly recognised by
and Taupo,
limited.
the Committee.
As your first
www.bopbusinessnews.co.nz
move, you A specialist IP disputes
might call the person up and/or tribunal in New Zealand
send them a letter demanding would be an affordable forum
they stop infringing.
in which to decide uncomplicated
Business “soft Publications IP” disputes
If neither of Bay those of work, Plenty
though, your only 210/424 options Maunganui – involving Road, trade marks, copyright,
designs, trade dress (or
apart from doing nothing – are
to sue the person in Mount the District Maunganui, “get-up”’) 3116 and confidential
Court for breaching the Fair information.
Trading Act or sue them in Due to their complexity,
the High Court for trade mark patent and plant variety rights
infringement. Bay of Plenty Business disputes would be excluded.
You cannot lodge Publications a claim specialises As to who in would decide disputes
before the tribunal, New
in the Disputes Tribunal, because
the Disputes Tribunal is Zealand has a plethora of
business publishing, advertising,
not allowed to hear design intellectual and print appropriately media services. qualified individuals
to referee soft IP property disputes.
dis-
The Bay of Plenty economy
is expected to been Finance Minister Grant
tion of a change in attitude has
remain strong for the Robertson’s recent decision to
coming year with solid underlying
take the advice of a range of
growth and good pros-
economists and signal that he
pects for 2020, say local business
was willing to borrow cheaply
leaders. As reported in and spend big on infrastructure
our cover story this month, the in the coming years. We should
regional economy is still very not underestimate what a major David Porter
strong and sentiment appears change of policy this reflects for
to be really good, with businesses
Labour. Robertson announced The new Bay fund reflects
cautiously optimistic in December that the govern-
the increasing focus globally on
about 2020.
ment would take advantage of Impact Investing, where corporate
But there are two main factors
historically low global inter-
foundation heavyweights
that are likely to affect est rates - and New Zealand’s and high net-worth individu-
what sort of year we have. generally strong economy - to als are combining forces with
The first is, of course, external undertake “significant” spending
the philanthropic sector and
issues that are largely beyond
on infrastructure.
family trusts to invest in inno-
New Zealand’s control. Recent Meanwhile, the Bay of vative solutions to social and
years have been notable for a Plenty-headquartered Purpose environment problems.
greater degree of international Capital Impact Fund (PCIF) has And David Pilkington, chair
political and economic volatility
achieved its first close target of of key local business driver
than we have seen since the raising $20 million and is now the Port of Tauranga, has been
world emerged from the Global ready to begin investing in projects
named Chairperson of the Year
Financial Crisis.
nationwide. The fund was in the Deloitte Top 200 Busi-
The erratic US approach launched in March 2019 by Bill ness Awards.
to trade by President Donald Murphy, founder of early stage Deloitte Top 200 judge
Trump’s government, the on-off investment group Enterprise Cathy Quinn said that any entity
trade wars with various major INTELLECTUAL Angels. (See our Bay of Plenty PROPERTY Pilkington chaired ISSUES had performed
financially and grown
partners, and Britain’s protracted
Brexit problems, as well > BY May-June BEN CAIN 2019).
consistently during his tenure.
Business News cover story,
as political changes and unrest Ben Cain The is a fund Senior is Associate now officially at James & Pilkington Wells and joined a Resolution the Port of
in regions from South America
to the Middle East have all
Institute-accredited active, but will mediator. remain He open can be Tauranga contacted Board at 07 in 928 July 44702005
(Tauranga),
for further
07 957
investment
5660 (Hamilton),
and is
and
and
benc@jaws.co.nz.
has been chair since 2013.
played a part in heightening aiming to reach $30 million. Since then, Port of Tauranga
instability.
PCIF has already attracted has successfully completed its
putes; The there other is major no shortage issue for of several the current major scope investors, of its includindiction.
the It Tindall could be Foundation, – but in capable” no-brainer. and Ultimately, is now by far how-
New
juris-
strategy bunal in to New become Zealand “big ship is a
New expertise. Zealand business is the
fact A that specialist 2020 is tribunal an election is not K1W1, my view WEL it would Energy be far Trust, better Zealand’s ever, it is largest you – businesses port. The company’s
members market of the capitalisation public – who has
and
year. a novel There idea. is a On positive the contrary, side to BayTrust, to have one TECT tribunal, and numerous which
that. New The Zealand New already Zealand has governmentcialist
which tribunals has been for regularly employ-
trusts. putes K1W1’s involving Robbie straightfor-
Tin-
tenure if you to agree. more than $4.6 billion.
spe-
private could hear individuals all types and of IP family dis-
more need to than push doubled for such during a tribunal his
accused ment disputes, of incompetence motor vehicle during dall ward said facts his and family’s straightforward fund had His Are win made the times it a hat a-changin? trick for
its dealer term disputes, - think Kiwibuild tenancy - and disputes
a lack and immigration-related
of coherence and difference the vast majority in New Zealand. of IP dis-
business awards. Chief execu-
always legal issues been – about in other making words, a the We’ll port see. at the annual national
of
coordination disputes, for between example. the three putes “Investing which through SMEs might Purpose be tive *See Mark www.courtsofnz.govt.
Cairns won for Chief
coalition We also parties, have the is Copyright likely to Capital involved. Impact Fund is another Executive nz/about-the-judiciary/rules_
of the Year in 2012,
go Tribunal, out of its but way resolving to prime copyright
disputes pump in is 2020. not within deepen lectual our property impact disputes throughout tri-
Steve tice-consultation Gray, won CFO of the
the way To for me, us a to specialist broaden intel-
and while committee/access-to-civil-jus-
Chief Financial Officer,
economic
The most obvious indica- the country.”
Year Award in 2017.
Your invitation
Bay of plenty
YEAR
BOOK
CELEBRATING BAY BUSINESS | 2019-20
Since the launch of our monthly newspaper Bay of Plenty Business
News in 2016, we have become the most credible and well-read
source of business information in the region.
We felt there was also a need for a quality annual publication that
celebrated the range and quality of the many businesses and
benefits of the Bay and have been delighted by the support our
first edition received from so many notable enterprises in the Bay
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Year Book 2019-2020 will build on our successful, inaugural first
edition. We invite you to profile your business in this prestigous
annual that profiles and ‘Celebrates Bay Business’.
PRINT RUN: 6,000
DISTRIBUTION: All major businesses, business hubs, airports, across
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KEY DEADLINES
Booking deadline: Monday, 16 March, 2020
Content deadline: Monday, 23 March, 2020
PDF/Print date: Monday, 20 April 2020
In market date: Thursday, 30 April 2020
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ADVERTISING INQUIRIES
Pete Wales, Business Director
pete@nmmedia.co.nz
022 495 9248
CELEBRATING BAY BUSINESS 2019-2020

February 2020 BAY OF PLENTY BUSINESS NEWS 9
Central Banks committed
to low interest rates
Investment Market Update, quarter ended 31 December, 2019
The last quarter of 2019 heralded a stake shift in sentiment within
financial markets. The mood lifted from cautiously wary, to a more
optimistic outlook for the year ahead.
The uplift in sentiment
was underpinned by the
coordinated response of
Central Banks to subdued inflationary
pressures.
During the last few months
of 2019, the major Central
Banks including the Federal
Reserve in the United States,
European Central Bank (ECB),
Bank of Japan (BOJ), and
the People’s Bank of China
(PBoC), all eased monetary
policy by cutting interest rates
and other measures. The Central
Banks of New Zealand
and Australia have also moved
to lower interest rates, as did
a host of other Central Banks
around the world.
Low inflation and renewed
stimulus by global Central
Banks complemented an improved
geopolitical and trade
outlook. By the end of the year,
a comprehensive victory at the
polls for Boris Johnson and the
UK’s Conservative Party went
a long way to remove much
of the uncertainty surrounding
Brexit. And the trade war between
the US and China de-escalated
as a Phase 1 deal was
agreed, scheduled to be signed
in mid-January.
With low inflation keeping
Central Bank policy in a stimulatory
phase, the global consumer
should continue to provide
the heavy lifting for global
growth. Not only have households
benefited from lower
debt servicing costs, lower interest
rates have boosted asset
valuations including equities,
property and, until recently,
bonds. The rising wealth effect
of higher asset prices is contributing
to the consumer’s ability
to spend.
Low inflation is a longterm
trend
Global inflation has been trending
down since the late 1980’s.
Investors have benefited handsomely.
Since the Global Financial
Crisis, Central Banks
have pushed a lot of money into
the global economy in an effort
to re-stimulate growth and inflation.
While consumer inflation
has failed to materialise,
the excess liquidity and low
interest rates have provided a
substantial boost to asset prices.
In our opinion, these conditions
look set to prevail for some
time yet.
Stronger NZ dollar (NZD)
reflects rising global
demand for NZ Inc.
The NZD appreciated sharply
(+7.6%) against the USD
during the last quarter. The
Australian dollar (AUD)
also rose against the USD,
but it was less buoyant than
the NZD. While the stronger
currency offsets some of the
investment returns from international
assets when translated
to NZD, it reflects growing
global demand for goods we
produce, including our primary
agricultural and seafood,
as well as domestic assets such
as government bonds and locally-listed
companies. The
latest New Zealand Current
Account data confirms a surge
of inward investment from
international investors during
the second half of 2019. At the
same time, our terms of trade,
which reflect the value of our
exports over the cost of our imports,
remains at a record high.
Deal fever benefited the
aged care sector
Another consequence of low
interest rates and greater confidence
in the economic outlook
has been a sharp resurgence in
corporate merger and acquisition
(M&A) activity. 2019
saw a number of companies
acquired and delisted from
the NZX including TradeMe,
Methven, Orion Healthcare,
SLI Systems, and (pending
shareholder approval) Abano
Healthcare. Metlifecare is now
the latest, with its board recommending
a takeover offer late in
December.
The Metlifecare takeover,
plus an improving housing
market, boosted New Zealand’s
aged care sector. Metlifecare
+53%, Summerset +34%, Arvida
+31%, Oceania Healthcare
+29%, and Ryman Healthcare
+24% all delivered excellent
gains over the quarter.
WHAT TO DO WITH YOUR MONEY
> BY BRETT BELL-BOOTH
Investment Adviser with Forsyth Barr Limited in Tauranga, and
an Authorised Financial Adviser. Phone (07) 577 5725 or
email brett.bell-booth@forsythbarr.co.nz.
Conditions remain ripe for
M&A activity to continue.
High stock prices provide companies
with a strong takeover
“currency”, interest rates and
funding costs are low, and private
equity funds around the
world have record levels of
cash they are looking to deploy.
Long-termism is the
investor’s best friend
Economic expansions generally
last for many quarters, or
years, while recessions tend to
be brief. The current economic
expansion is now the longest on
record, continuing for over 10
years in a number of countries.
Expansions generate increased
prosperity and wealth. This is
reflected in rising equity prices.
Recessions generally see a correction
in equity markets, but in
most instances these represent
buying opportunities for longterm
investors.
While the day-to-day headlines
can be cause for concern,
investors are well served by
focussing on long-term trends.
Investors that maintain sensibly
diversified portfolios with a
focus on quality companies and
control of credit risk will be
able to ride out most short-term
corrections that happen from
time to time.
This column is general in nature
and is not personalised investment
advice. This column has been prepared
in good faith based on information
obtained from sources believed
to be reliable and accurate.
Disclosure Statements for Forsyth
Barr Authorised Financial Advisers
are available on request and
free of charge.
Driving efficiencies through
business defined technology
Get a technology site audit to the value of $495 FREE!
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10 BAY OF PLENTY BUSINESS NEWS February 2020
Another sold-out success for Bay Dreams.
Photo/Supplied
Trustpower
Baypark – ‘A
Complete Package’
Meet at Baypark for your next event. Trustpower Baypark offers a
complete package for any event with state of the art conference and
meeting rooms, full Professional Conference Organiser
(PCO) event management services, in-house catering,
audio visual services and marketing/promotions.
Drifting increasing in popularity.
Photo/Supplied
The new decade started
with 30,000 festival
goers flocking into Tauranga
for Bay Dreams.
Once again, tickets sold out
and the venue was at capacity.
The summer concert series also
featured stand-alone concerts
for Katchafire, Shapeshifter,
Sticky Fingers and Tones and
I during the end of December/
beginning of January.
Drifting
To satisfy the adrenaline junkies,
Baypark Speedway continues
to offer action-packed
nights of racing for the whole
family. Upcoming dates include:
February 8 & 22, March
7 & 21.
If you are interested in
watching the races from the
comfort of one of our Corporate
Boxes, contact events@
bayvenues.co.nz for more information.
Check out www.
bayparkspeedway.co.nz for
further race details.
Back in early 2003, drifting
in New Zealand was
just emerging from the underground
into the world of
motorsport.
Several Drifting teams
from all over New Zealand
came together to organise
and regulate events nationwide,
developing
competition formats on
race circuits and bringing
Drifting off the
back-streets.
D1NZ has taken the
lead in this unique automotive
culture, with
drifting recognised as
the fastest-growing motor
sports category in the
world.
The Series has produced
world-class competition with
many of New Zealand’s top
drivers representing the country
overseas with podium finishes
in Australia, Japan, The
USA, Thailand, Malaysia,
Singapore, China and Europe.
The up-coming 2020 Valvoline
D1NZ Championship
Series will continue to push
boundaries and bring passionate
car-loving Kiwis a
high-octane entertainment
spectacle, with a focus of educating
and putting on a great
drift show for fans. Round 3 of
this series is on February 28 &
29 at Trustpower Stadium.
Tattoo
extravaganza
Tattoo & Art Extravaganza
showcases the finest talent in a
variety of creative fields from
contemporary to traditional art
form.
The New Zealand tattoo
expo is back for 2020 on
March 14 & 15! Mount Maunganui
will be home to the top
international and local tattoo
artists,
indigenous
arts performances,
wearable
arts show, creative village,
live entertainment and street
artists. The Tattoo & Art Extravaganza
celebrates culture,
whanau, good vibes, contemporary
and indigenous arts in
many spectrums. This event
is family friendly and is a
candy store for art and creative
enthusiasts.
Netball
Come to Baypark to support
the Waikato Bay of Plenty
Magic Netball Team play
against the Otago Northern
Stars in Round 2 of the
ANZ Premiership competition
on 23 March. The
thrill of watching a game
of this calibre live is contagious
and you will not
be disappointed. The ANZ
Premiership is the premier
domestic netball league in
New Zealand. The league
was formed in 2016 as a successor
to the trans-Tasman
ANZ Championship, which
was held from 2008 to 2016.
Active Retirees Bay of
Plenty Expo
The Active Retirees Bay of
Plenty Expo returns on March
28 & 29.
This is your chance to meet
like-minded people who can
help you make the most of
your retirement.
Speak with experts
in travel, learn more about
trusts, wills and investing, join
a walking group or just enjoy
a coffee with friends at the onsite
cafe.
Oh, and did we mention all
this is FREE? The Expo will
have Free Travel Seminars
plus over 20 Group Tours to
consider.
2020 Pacific
Rim Gymnastics
Championships
Gymnastics New Zealand is
excited to host the 2020 Pacific
Rim Gymnastics Championships
at the Trustpower Arena
on April 17-19.
The international biennial
event gathers the best of artistic,
rhythmic and trampoline
gymnastics from the Pacific
Rim nations.
It will feature Junior and
Senior athletes from invited
Pacific Rim countries competing
in Men’s and Women’s
Artistic Gymnastics, Trampoline
and Rhythmic Gymnastics
across three exciting days
of competition including all
around, team and apparatus
finals.
Oceania Championships for
Artistic and Trampoline will
be held on Thursday April 16.
For more information on any events, enquiries for Baypark venues, BayStation activities or service on/off site from BayCatering, BayAudioVisual visit
www.trustpowerbaypark.co.nz, email events@bayvenues.co.nz or call 07 577 8560.

February 2020 BAY OF PLENTY BUSINESS NEWS 11
Bring in the coaches
As we start a New Year and new decade there is no shortage of
articles and trending social media posts on advice. High amongst
them is the rise of executive or business coaching.
FRANCHISING
> BY NATHAN BONNEY
Nathan Bonney is a director of Iridium Partners. He can be
reached at nathan@iridium.net.nz or 0275-393-022
The analogies are that
becoming a high performing
professional in
business is no different to a top
athlete’s need to perfect their
golf swing, swimming stroke
or basketball lay-up shot.
The Cambridge definition
of a coach is “someone
whose job is to teach people
to improve at a sport, skill,
or school”. Makes sense, but
how does their role relate to
the franchise world and particularly
the franchisor? They
themselves are often seen as
the coach.
So how does their role intersect
with the often heard
comment, “shouldn’t the franchisor
provide or have that
knowledge”?
Well, I would suggest franchisors
would benefit from
having coaches as much as any
professional, the hint is in the
dictionary definition – to improve.
So in what areas should
they seek and take some
advice?
Many franchisors grow
from being good at the doing
of something – the classic
economics example, say, of
“building widgets”. First they
build widgets, then a system
around the widget building.
This is the essence of
franchising.
The professional and commercial
backgrounds of franchise
builders can vary significantly.
And not surprisingly,
their skill set may also vary
significantly.
But there are three common
areas in which they could
likely benefit from coaching.
People management, leadership,
and the traditional human
resources management skill set
are becoming increasingly valued
and are all important for
commercial success.
In other words, the franchisor’s
core skills may be widget
building when the business
needs soft skills.
The often unrecognized
point, however, is that a franchisor’s
business is actually
not based around the widget
building, it is around engaging
their franchisees to widget
build.
It is also about managing
a franchise support team, a
group of people with a hard
job who need coaching and
support themselves.
Many franchisors simply
do not have the support skill
set required. It doesn’t matter
how good their process for
making widgets is, if they are
unbearable to work with, do
not develop their teams and
cannot relate to their franchisees,
they are going to have a
lousy franchise business.
Don’t just wing it
At the risk of alienating some
franchisors, I am going to say
that many are winging their
way through a marketing programme.
There are some franchisors
who are savvy marketers
and have well executed
marketing and advertising
programmes, but both groups
could still benefit from a marketing
coach.
Often franchisors – particularly
founders – are either too
close and protective of their
own brand and or do not have
the time and capacity to see a
bigger picture.
Marketing is also often a
point of contention between
franchisors and franchisees,
so bringing in an experienced,
neutral external view can be
highly beneficial.
Many franchisors develop
relatively good skills in reading
and understanding legal
documents including their own
franchise agreement, leases
and supply contracts.
However, again they risk
viewing these in isolation and
without a broader context.
Every franchisor should have a
trusted legal advisor that they
regularly review and discuss
all things legal with. The law
changes, as does the business
climate and what was a good
approach five years ago may
not cut it today.
In 2020 it appears we all
need coaches, not because we
don’t have skills, but to hone
the ones we have and deliver
our best selves. Franchisors
owe it to themselves, and their
franchisees, to seek out the
coaches they need, or they may
end up with 2020 hindsight.
The quality of our
work defines us.
Manawa, a comprehensively designed residential
development, is just one example of a project we
are proud to put our name on.
In addition to meeting commercial objectives
for Nga Potiki, the development of the site was
undertaken in a way that is socially, culturally and
environmentally responsible and also provided
substantial housing for Nga Potiki members.
Experience. Knowledge. Better Outcomes.
Our knowledge.
Your project.
Better outcomes.
ENGINEERS . PLANNERS . SURVEYORS . ENVIRONMENTAL
WWW.STRATUM.NZ | 07 571 4500

12 BAY OF PLENTY BUSINESS NEWS February 2020
Mate’s rates pitfalls
CREDIT MANAGEMENT
> BY NICK KERR
Nick Kerr is Area Manager BOP for EC Credit Control NZ Ltd.
He is also a director of International Private Investigations Ltd.
Nick can be reached at nick.kerr@eccreditcontrol.co.nz
Mate’s Rates are more expensive than you think!
Of the debt situations that
I see in my role, one of
the more troubling yet
increasingly common occurrences
is F&F or friend and
family debts. These seem to be
more prevalent in the trades,
but we are seeing it across all
industries.
These kinds of debts have a
particular set of challenges that
we see time and time again.
They include emotional
leverage, lack of documentation
and lack of adherence
to policy. In this article, I’ll
look at why these issues are
often not conducive to good
business.
With F&F transactions, the
work done is often unquoted as
there is a feeling of “they will
look after me”. And it’s often
when the invoice arrives and it
is more than was expected that
the trouble begins.
Not having a quote – or better
yet a rage of quotes – means
that there is no defined value of
works, making it impossible to
ascertain what constitutes a
“good” deal.
If you keep business business and
friendship friendship, you should be
able to keep one without it being at the
expense of the other.”
Accurately assessing the
value of work done after the
fact, especially without market
comparisons, is very difficult.
Auditors and quantity
surveyors train for years to be
able to do this and still cost
overruns and miscalculations
occur even with this level of
expertise.
How then can a layperson
be able to know whether their
mate “Bob” has looked after
them or fleeced them. In cases
like this, it often depends on
the mood or current state of the
relationship.
No matter how selfless or
generous a person is, we all
have a ledger in our heads of
favours done for and received
from F&F.
And often the view on the
deal received has more to do
with the state of this mental
ledger, rather than the true
value received.
When preparing clients
for disputes tribunal hearings
against F&F it is always a
struggle to keep the focus on
the situation at hand without
“well I gave him this (water
blaster/ car part/ trailer, etc) so
should we mention that?
If a quote and terms are
received and accepted, these
uncertainties are removed
from the situation and it
doesn’t have to severely affect
or even possibly destroy the
relationship.
In larger organisations that
have dedicated accounts or
credit management staff, we
see accounts for F&F of the
owners or directors sitting
outside of the normal credit
procedure. This is usually because
there is a fear of causing
offence to the debtor or their
F&F within the organisation.
Depending on their involvement
in the credit management
procedure, the first
time that the director or owner
hears of the overdue account
could be 60 or 90 days down
the track, making for a more
uncomfortable conversation
than is necessary as the debtor
may not have received any
reminders that could have resolved
the issue.
In summary, if you keep
business business and friendship
friendship, you should
be able to keep one without
it being at the expense of the
other.
Just a thought.
We partner with
you to deliver endto-end
property
services to help
you achieve
your objectives.
Located in Tauranga, Hamilton & Rotorua | info@veros.co.nz | www.veros.co.nz

Book now to showcase yoy
LEADERSHIP
February 2020 BAY LEADERSHIP
OF PLENTY BUSINESS NEWS 13
SMARTER business BUSINESS EVENT
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20 2020, off getting to Bay a Smart wide
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Craig Managing Hudson
Managing ONLY! Director
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Social Location: QEYC, Cnr Devonport Craig Road Hudson
will bring together hundreds of businesses Kirsten from Patterson corporates to
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SUPPORT SPONSOR
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L
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G

14 BAY OF PLENTY BUSINESS NEWS February 2020
Fancy a piece
of the pie?
Last month I talked about why a business owner might
consider bringing on a minority shareholder with a view to
eventually having them take over. This month I consider
things from the perspective of the buyer.
I
am seeing more businesses
that are offering employees a
slice of the business and the
employee wanting advice on
whether they should buy in.
So, from the perspective of
the buyer, here are a few advantages
and disadvantages to
employees taking a share in a
business.
BETTER BUSINESS BUYING
> BY TOM BESWICK
Director at Ingham Mora Chartered Accountants in Tauranga, is a
business advisor who specialises in buying and selling businesses.
He can be contacted on 027-5744- 019 or tom@inghammora.co.nz
Benefits of buying into a
business
A key first benefit to becoming
a shareholder employee (as opposed
to any other investment)
is the potential for favourable
vendor finance terms.
This could mean that the
employee might not have to
put any money down to get the
shares.
This can mean that employees
who otherwise would not
have the means to be a shareholder
can afford to be. There
are many ways to structure
how the employee might eventually
pay the shares off.
A second benefit is the
value of buying into a successful
business. Some staff
come to me saying they have
been offered 10 percent of the
business and need to decide
whether to do the deal or go
out on their own.
Of course, there are many
factors to consider in order
to answer this question – but
clearly it may be better to
buy into a successful existing
business then it is to start
your own one. The statistics
for how many new businesses
fail within five years are quite
grim.
Thirdly, buying a small
share in a business could be
a pathway to full ownership.
Lots of employees could never
afford to buy the business from
their boss outright. However,
if they were buying it at 10-20
percent a year then this becomes
a viable option.
Not only does the employee
eventually get to buy a business
they could not have afforded
under this option – they
have been building the business
the whole time they have
been a minority owner.
This is likely to make the
transition to a new owner more
stable – as compared to an outright
sale.
Some of the downsides
Agreeing on the value can be
tricky. I have seen several examples
where an employee has
been offered 10 percent of the
business – at 10 percent of the
business’ value.
Unfortunately (for a business
owner) the 10 percent is
worth proportionality less as it
has less control. If the majority
shareholders want to do something
– they do it.
The 10 percent owner gets
dragged along for the ride.
It can be hard for a business
owner to stomach a discount of
potentially up to half the value
of the shares given the lack of
control and marketability.
Of course, price is just one
aspect of the negotiation – but
is important for potential new
shareholder employees to understand
what their potential
investment is worth.
Another downside to taking
a minority shareholding in
a business is going to be the
business partner.
No matter how well you get
on, once there are two or more
shareholders involved there is
some risk that everything gets
a bit more complicated.
Many businesses have systems
that need strengthening
when unrelated shareholders
enter the picture.
For example, in your own
business you can take out cash
whenever you like. But if you
keep doing that after bringing
in a 10 percent shareholder
you could have a problem.
A third downside to buying
a small shareholding is that as
a shareholder you are tied to
the history of that company.
It is important that you
do your homework to make
sure you are comfortable with
that history and there are no
skeletons in the closet that
will reduce the value of your
investment.
Buying into the business
you are working in could be a
great option – particularly for
those with insufficient assets to
consider an outright purchase.
If you are ever offered a
piece of the pie, make sure you
get great advice before you
bite in.
SELLING
YOUR
BUSINESS IS
A ONCE IN A
LIFETIME
VOYAGE
THE MOST IMPORTANT FINANCIAL DECISION
A BUSINESS OWNER WILL EVER MAKE.
ENSURE IT’S ALL PLAIN
SAILING FROM HERE
As a busy business owner, you may not have had time
to consider what will happen when you want to exit
your business.
That’s where Tabak can help.
A successful sale and smooth transition out of
business ownership depends on achieving a clear
understanding of market conditions and the potential
sale value of your business.
Our team of business brokers are experts in guiding
business owners through this process.
So if you are looking for expert, tailored advice on how
to prepare your business for sale we want to hear from
you.
Contact us today!
203503AA
tauranga@tabak.co.nz
07 578 6329
www.tabak.co.nz
Tabak Limited. Licensed REA (2008)

February 2020 BAY OF PLENTY BUSINESS NEWS 15
Plastic planet
– The Pacific’s
seventh continent
Areas of plastic pollution accumulation are as vast as continents
throughout the oceans of the world and the largest is in our Pacific
Ocean. Known as the 7th continent, it is nearly six times the size of
France (3.4 million sq km).
Artwork by Lianne Edwards, courtesy of the artist and
Whitespace, Auckland.
While new legislation is
rolled out condemning
single-use plastic
bags at our supermarkets, recycling
in NZ is still limited, with
mega-tonnes going into landfills
in our already glutted and
geographically limited land.
Recycling will form a big
part of the gallery’s education
programme this year and will
consider the health of our environment,
and specifically the
need to care for our oceans and
waterways.
For decades, artists around
the world have created work
to draw attention to our interdependence
with the
environment.
Land Art became one of the
hallmarks of the 1970s, taking
work out of the commodity-driven
gallery system into
the environment with figures
such as Alice Aycock, Robert
Smithson and Michael Heizer.
Curating Aniwaniwa by artists
Brett Graham and Rachael
Rakena for the 2007 Venice Biennale
was as much about promoting
artists from Aotearoa
and their epic magnum opus,
as it was to raise awareness of
cultural submersion and rising
sea levels in the Pacific.
But increasingly refugees
are finding themselves forced
to leave their submerged islands
to settle in New Zealand.
Venice is slowly sinking,
while the bush fires raging in
Australia have heightened the
global focus on climate change
and its effects.
Gallery emphasis on
recycling
ARTS AND CULTURE
> BY ALICE HUTCHINSON
Alice Hutchison is the director of the Tauranga Art Gallery.
She can be reached on director@artgallery.org.nz.
Land Art became one
of the hallmarks of
the 1970s, taking
work out of the
commodity-driven
gallery system into
the environment.”
As freshwater sources are drying
up internationally with the
ever-increasing climate emergency,
glaciers disappearing,
our precious water is being
sold to offshore companies.
There is ample room for innovative
recycling and avoiding
certain plastics and making
conscious choices – and certainly
educating our younger
generations eager to find ways
of creating sustainability for
their futures.
The marine environment
in which we live, Tauranga
Moana, is a precious and delicate
environment, which saw
New Zealand’s most catastrophic
marine disaster 10
years ago with the sinking of
the Rena.
The massive amounts of
toxic waste that spilled into
the ocean rendered Papamoa
beach a vast black oil slick
destroying ocean habitats and
killing thousands of birds. The
impact has been particularly
egregious for local iwi and residents
of Mōtītī island.
The series of exhibitions
and public programmes the
Tauranga Art Gallery is augmenting
through 2020 delves
into artists and the oceans,
partnering with the University
of Waikato.
It also includes histories
of navigation, referenced in
Matatoki – Mata ā Waka,
bringing precious taonga out
of storage from the Tauranga
Heritage Collection, and a
partnership with The Elms in
conjunction with a number of
Aotearoa’s leading carvers.
Edwards’ exhibition
addresses plastic impact
Lianne Edwards, an artist
who has a background in marine
science, conservation and
resource management will
present her first public gallery
exhibition.
Using found material garnered
from the oceans, Edwards
specifically addresses
the “plastic diet” of sea-life;
fish, birds and plankton – becoming
an inextricable part of
the food chain.
Her exhibition will feature
a selection of work melding
art, science, and repurposed,
discarded materials from the
Pacific Ocean, articulating the
“Beauty and chaos, transience
and permanence” of nature and
“its mindless destruction by
humankind.”
Edwards’ artworks comment
on our relationship with,
and how we treat and value, the
natural world.
Growing up in New Zealand,
her strong connection to
the Pacific region surrounded
by the Pacific Ocean is made
tangible through repurposing
flotsam and jetsam, plastic rubbish,
and the ill-fated creatures,
such as swordfish, which make
up her found materials from the
ocean.
Microscopically delicate or
commanding a strong physical
presence as in the Wayfinding
series of Sentinels and Sea
Kraits, environmental messages
and important themes are
addressed in the artist’s concern
for our oceans, our native
plants and animals “and the future
that we will be leaving for
generations to come.”
Edwards has collaborated
with organisations such as the
Sea Cleaners initiative, and
also with wildlife scientists to
draw attention to our marine
environment and with our critically
endangered native bird
populations.
Her work is in the collections
of Auckland Art Gallery
Toi o Tāmaki, Chartwell Collection,
Ministry of Foreign
Affairs, Wallace Arts Trust
and many private and public
collections.

16 BAY OF PLENTY BUSINESS NEWS February 2020
Red kiwifruit finally gets green
light from Zespri
Despite the strong success of Green and Gold kiwifruit, the
industry will welcome more diversification.
By RICHARD RENNIE
After many years of
delays and breeding
challenges, Zespri
has given the green light to
growers wanting to trial the
long-awaited Red variety of
kiwifruit.
Prospects are that 150ha
will initially be planted, depending
upon budwood availability
this autumn.
The pathway to Red’s commercialisation
has been a long
one. Initial hopes the launch
would come almost a decade
ago were dashed by the arrival
of Psa.
The impact on the varieties
cultivated by Plant and Food
Research was devastating,
wiping out 80 percent of the
fruit’s first-generation cultivars.
Promises the fruit would
be finally available three years
ago stalled. But the marketer
has now announced a soft
launch for issuing the new variety
to growers.
The latest iteration of the
breed is sourced from the cultivars
that survived the Psa
outbreak.
David Courtney, Zespri’s
grower and alliance leader,
said the latest cultivar had
proved to be tolerant to Psa.
Another challenge has been
ensuring the fruit had adequate
shelf life to make it a viable
exporting option.
Courtney said it was acknowledged
the Red variety
required softer handling and
had a shorter shelf life. For this
reason, Asia was most likely
to be the first destination for
the limited export volumes as
production ramps up.
Trials will continue in other
Zespri production regions in
Northern Hemisphere to determine
the commercial potential
of the cultivar in different
environments.
Supply chain test to come
Courtney said the fruit
could only be fully tested
when it was exposed to the entire
supply chain environment.
Zespri growers in the
Northern Hemisphere
have faced a challenging
year
dealing with
Red kiwifruit: finally ready for release.
Photo/Zespri.
brown marmorated stink bug
invasions and a deadly emerging
fungal disease.
Meanwhile, consumers appear
ready and waiting for a
fruit described
as having a
“sweetish, berry
like” flavour,
with good reception
from all exposed
to it in sensory
tests and early marketing
trials.
The fruit’s red colour
was linked to the presence
of anthocyanin, a unique
and naturally occurring pigment
with the fruit linked to
cardiovascular and cognitive
health.
New Zealand consumers
are expected to be able to enjoy
the Red variety in selected supermarkets
and fruit outlets
in 2020 and 2021, as production
volume increases.
New Zealand Kiwifruit
Growers Incorporated
chief executive Nikki
Johnson welcomed a
more diverse portfolio
Another challenge
has been ensuring
the fruit had
adequate shelf life
to make it a viable
exporting option.”
for growers, and said the diversification
would support the
fruit securing and maintaining
supermarket shelf space.
However, she also cautioned
growers to carefully
assess risks associated with
the new variety to make an
informed decision if they decided
to participate in any
tender process to allocate bud
wood for the proposed 150ha.
SunGold prolific
SunGold, the replacement
gold kiwifruit for Hort 16a that
was decimated by Psa, was
initially available to growers at
a licensing cost of about $7000
per ha in 2013. This year,
the 700ha allocated
is expected
to cost $280,000 per ha.
So far SunGold has surprised
growers by its prolific
cropping ability, with yields
as high as 18,000 trays per ha
achievable with good management.
It has also proven
capable of being grown well
beyond the traditional Western
Bay of Plenty kiwifruit region,
extending into Eastern Bay of
Plenty, Hawke’s Bay and even
Waikato.
Courtney said Zespri had
not yet decided what mechanism
it would use to distribute
the initial Red crop supply.
Courtney said so far Red
was only under trial across the
Bay of Plenty, but had proven
to be performing well, if not
cropping as prolifically as
SunGold.
The launch of Red is hoped
to help Zespri reach its ambition
to achieve $4.5 billion of
exports by 2025. This year, the
company is expected to exceed
$2.0 billion in export sales.

February 2020 BAY OF PLENTY BUSINESS NEWS 17
Honey prices
plunge
Honey companies are concerned
about a glut of product hitting the
market.
By RICHARD RENNIE
Bay of Plenty beekeepers
and honey producers are
finding business tough
as honey prices plunge to near
record lows, with little sign of
recovery.
The price fall comes amid
a flood of bulk Chinese-produced
honey hitting global
markets, leaving New Zealand
producers incapable of matching
it and making a profit at
prices now as low as $3.50 a
kg.
Russell Berry, head of family-owned
and Rotorua-based
Arataki Honey, said he fully
expected a number of beekeepers
to be out of business in the
coming year as a result of the
price slide.
Berry’s operation is one
of the largest in the Southern
Hemisphere, overseeing
20,000 hives across much
of the country and supplying
32 percent of the honey
sold in New Zealand
supermarkets.
Berry has spent more
than 60 years involved in the
industry.
“It is understood a big portion
of the honey coming out
of China is fake and the volumes
have pushed the price
down from $12.50 a kg to
$3.50 a kg,” he said.
“Beekeepers need about $7
a kg to break even. “
In a good season you will produce more
honey with more hives, in an average year
less, but in a poor year it will be significantly
less.”
– Russell Berry
Propolis problems
Berry said New Zealand beekeepers
also had a problem
with Propolis, a resinous mix
honey bees produce, which is
typically used in wound healing
and skin creams and is
another important part of beekeepers’
income.
“… there is also a cheap
imported source coming into
the country and pulling the
price down to the point we
can’t sell ours anymore.”
Berry said the high prices
several years ago and the attention
focused on Manuka
honey had encouraged significant
numbers of new beekeeping
ventures to start.
Today New Zealand has record
high hive numbers, totalling
1.0 million, up from only
270,000 a decade ago and now
has more hives than Australia.
“The banks have also been
encouraging beekeeping ventures,
lending money on hives
which is something we had
never seen before,” said Berry.
But as a result, the high
number of hives meant the
country was effectively overstocked
with bees. He estimated
New Zealand could afford
to lose at least 25 percent
of the hives and probably produce
more honey.
“In a good season you will
produce more honey with
more hives, in an average year
less, but in a poor year it will
be significantly less.”
The industry has tended
to blame poor weather for the
past couple of season’s lower
harvests, but Berry put it
down to the higher beekeeper
numbers.
“Some are going to have
extreme difficulty in the coming
year. The only thing saving
many at the moment
is the price of
Manuka.”
Berry cautioned there were
several processors around who
had committed to very high
value longer-term Manuka
contracts, and they would find
these too would be undermined
by an easing of prices
now being experienced.
Issues around Manuka
standards were also meaning a
portion was now being fed into
the bulk honey market, further
depressing prices.
Jane Lorimer, president of
NZ Beekeeping, runs multiple
hives from the Kaimais across
the Waikato. She confirmed
additional Manuka was not
helping, and this was in part
due to ambiguity over the Manuka
standards.
“Much of it is Manuka that
has not graded as Manuka according
to the standards.”
She said beekeepers this
year had to consider whether
to even harvest and extracting
honey.
“You can’t stop bees making
honey, but you just don’t
collect it. This comes as we are
also starting to see good honey
flows this season.”
Higher compliance costs
were also impacting cashstrapped
beekeepers, with risk
management programmes now
required twice a year, at close
to twice the previous cost per
completion.
Pollination options
Lorimer said many Bay of
Plenty and Waikato beekeepers
would at least have their
income supplemented by supplying
bees for
kiwifruit pollination.
However, she predicted
the sector was up for a
significant correction with fallout
likely to impact for at least
the next two seasons.
John Rawcliffe, spokesman
for the Manuka Honey Appellation
Society, said the poor
prices proved New Zealand
simply could not compete on
the global bulk honey market
and needed to focus on mono-floral
high value varieties.
In September the Manuka
honey industry welcomed an
injection of almost $6 million
to help maintain provenance
claims for the variety.
Over $5 million went to the
Manuka Honey Appellation
Society and the society has applied
to Chinese authorities to
protect the variety there, having
already gained that protection
in the United Kingdom.
Concerns over rising numbers of beehives.
Photo iStock

18 BAY OF PLENTY BUSINESS NEWS February 2020
CONNECTING
BUYERS AND
SELLERS OF
QUALITY
BUSINESSES
First on the scene
Networking photos from the Tauranga Chamber of Commerce’s end of the year Business
After Five event, which was jointly hosted by Hotel Armitage, and Computastyle Signs, which
was celebrating its 40th birthday.
Photos by Laval Photo & Video
When is the right time to sell
your business? Right now.
At TABAK, we promise to guide
you through the sales process
with focus, integrity and
complete confidentiality.
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2
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Gillian Houser, Bay Venues, with Pete Wales, BOP Business News.
FOCUS • INTEGRITY
CONFIDENTIALITY
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4 5
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Bishopp. 5 Nick Caffardo, The Armitage Hotel.
WHY TABAK
INDUSTRY EXPERIENCE
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PRE-QUALIFIED BUYERS
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p. 07 578 6329
e. tauranga@tabak.co.nz
w. tabak.co.nz
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9 Sharon Giblett, Jigsaw Solutions Group, Dee Collins, Focus Magazine, and Sarah Harcourt, Get the message.

February 2020 BAY OF PLENTY BUSINESS NEWS 19
Acorn Foundation launches new
Workplace Giving programme
in the WBOP
Long thought of as the organisation that can help you leave a gift
to the community in your Will, Acorn has extended its offerings to
enable locals to participate in community giving regardless of their
age or stage of life. Giving options now include Living Giving, trust
resettlements, regular giving to favourite Community Group Funds,
collective giving in the form of Giving Circles, Workplace Giving and
Corporate Giving involving businesses like Cooney Lees Morgan,
Metro Marketing, NumberWorks’nWords and KPMG Tauranga.
Acorn Foundation, Craigs
Investment Partners
and the Community
Foundations of NZ launched
a national partnership in
December.
A long-time supporter of
communities across the country,
Craigs Investment Partners
developed a unique and strategic
giving programme.
Donations to support the
greatest needs in each of the
19 communities in which
Craigs has a regional office
will be made in conjunction
with one of the 17 community
foundations found around New
Zealand.
The partnership is multifaceted
including a combination
of Christmas Giving,
Workplace Giving and the
establishment of a Community
Fund.
Craigs’ Christmas Giving
Donations of more than
$150,000 reached charitable
organisations around the
country before Christmas with
$27,000 gifted locally.
The local recipients included:
Good Neighbour,
EmpowermentNZ (based in
Te Puke), St. Peter’s House,
KidsCan, Awhina House
Women’s Night Shelter, and
Tauranga Moana Men’s Night
Shelter.
Each of the 19 Craigs
branches have created a Giving
Committee to choose recipients
in conjunction with their
local community foundation.
“We see a huge benefit to
our communities by giving to
those with the greatest needs
at a time of the year when
we know that many feel huge
pressure financially.” says
Craigs Managing Director,
Frank Aldridge.
Craigs’ Workplace Giving
Craigs employees around the
country can now sign up for
payroll Workplace Giving
with the employee contribution
matched by Craigs up to $500
per employee. Each Craigs
branch’s Giving Committee
will work with their local community
foundation annually to
determine the most deserving
recipients in their area.
Craigs Community Fund
(From right) Acorn Foundation general manager Lori Luke, donor and engagement manager
Margot McCool and communications and events coordinator Jo Wilson. Photo/Supplied.
A giving fund has been established
with the Acorn Foundation
whereby in the future,
a portion of the Craigs fund
will be distributed to recipients
of their choosing. Acorn
Foundation General Manager,
Lori Luke, says that the
Craigs Community Fund will
provide a welcome boost for
local charities all across New
Zealand, forever. “The benefit
of these kinds of funds is that
it provides yearly distributions
to really deserving local charities.
It is amazing to have a
national company like Craigs
leading the way in this sort of
strategic giving, and we hope
other businesses will follow
suit.”
Acorn is eager to work with
other WBOP businesses to
develop a Workplace or Corporate
Giving programme that
suits their needs. Community
Foundations NZ EO, Eleanor
Cater, says that thoughtful
giving is the way of the future.
“People like to give with
purpose, since it’s a far more
fulfilling way to give, both for
companies and for individuals.
Workplace Giving is a real
win/win, nurturing a purposeful
team-building culture at the
same time as helping to build
strong communities.”
Trusted to sell the Bay of Plenty’s finest homes and
lifestyle properties.
OLIVER ROAD ESTATE AGENTS LIMITED | LICENSED REAA 2008
Luxury & Lifestyle
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oliverroad.co.nz

20 BAY OF PLENTY BUSINESS NEWS February 2020
Doing your
own thing while
working together
New Zealand’s third annual National Coworking Day was celebrated
around the country recently with coworking spaces opening their
doors to showcase what they offer. The curious were able to
tour the coworking spaces and experience first-hand what these
collaborative, knowledge-sharing working environments are all about.
A
recent Bayleys Research
report shows that
Auckland’s coworking
office sector has continued its
state of expansion – growing
in size, membership and occupancy
throughout last year,
with no sign of letting up.
Auckland’s coworking
presence grew by around
10,000sqm over 2018 to a total
footprint of 39,500 sqm which
represents an estimated 1.2
percent of the total office market
– below the Asia-Pacific
average of 2.1 percent.
However, there’s an additional
18,000sqm of CBD
stock in the pipeline and circa
20,000sqm in the wider Auckland
pipeline with roughly half
due for completion over the
next 12 months.
Elsewhere around the country
– particularly in Wellington
and Christchurch – coworking
hubs are finding favour with a
segment of the market looking
for fluid, and adaptable working
environments.
Monthly dedicated/flexi
desk rates have remained
largely unchanged from the
last Bayleys Research survey,
with current rates ranging from
$499 to $1,499 for larger operators
and $400 to $900 for
smaller operators. Casual rates
typically range between $150
and $499 per month.
Globally, the coworking
phenomenon continues on an
upward trajectory,with an estimated
35,000 flexible workspaces
providing 48 million
square metres of flexible work
environment for those committed
to working in a different
way.
Many of these coworking
spaces are being purpose-built
as part of new commercial
and mixed-use developments,
while others are being retro-fitted
into existing commercial
buildings close to transport
networks and other amenities.
Bayleys Auckland director
of commercial real estate,
Lloyd Budd says that, increasingly,
bigger corporates are
utilising coworking space for
their staff which is “normalising”
the cowork concept and
making it an extension of the
traditional workplace.
“There was a perception
that coworking was just for
freelancers, self-employed operators,
entrepreneurs or startups
looking to collaborate
with like-minded people, share
ideas, services and reduce
rental costs,” says Budd.
“However, the concept
has evolved and has attracted
many in the corporate sector
who want to tap into the
start-up culture to win new
talent and new clients, and also
serves remote or travelling
workers well.”
Corporate entities are also
broadening their thinking and
engaging workers outside of
the core centres then facilitating
work from a coworking
A recent Bayleys Research report shows
that Auckland’s coworking office sector has
continued its state of expansion – growing in
size, membership and occupancy throughout
last year, with no sign of letting up.”
hub, which minimises relocation
costs and allows the
workers to be part of a safe,
professional and social working
environment with built-in
flexibility and lower desk/operating
costs.
The coworking spaces that
are emerging in New Zealand
are well-spec’d with fast internet
speeds, coffee machines,
break-out meeting rooms,
boardrooms, and well-planned
networking calendars.
A cowork hub removes
the isolation factor from remote
working and establishes
a sense of community for the
“residents” choosing to be part
of these innovative and flexible
work spaces.
If you’re looking to restructure
your business model to
allow for more fluidity and to
broaden your potential worker
base, then adopting a coworking
strand to your operation
could be the answer.
At Bayleys, we believe relationships are what businesses are built on and how they
succeed. We understand that to maximise the return on your property you need:
Professional property management
A business partner that understands your views and goals
Contact the Bayleys Tauranga Commercial Property Management team today.
Bayleys Tauranga
Commercial Property Management
07 579 0609
jan.cooney@bayleystauranga.co.nz
SUCCESS REALTY LTD, BAYLEYS, LICENSED UNDER THE REA ACT 2008
ALTOGETHER BETTER
Residential / Commercial / Rural / Property Services

February 2020 BAY OF PLENTY BUSINESS NEWS 21
Ensure your
business tells a
Bay of Plenty story
As I write this, outdoors on the deck overlooking beautiful Waihi
Beach, I can’t help but think the Bay of Plenty is an ideal spot for a
business involved in writing and creativity.
THE LAST WORD
> BY JAMES HEFFIELD
Director of Bay of Plenty marketing and PR consultancy Last
Word. To find out more visit lastwordmedia.co.nz or email
james@lastwordmedia.co.nz.
Location matters – and not
just for logistical reasons
or because you want to
be seen by as much traffic as
possible. It can also play a role
in establishing your point of
difference, capturing the imagination
of your customers, and
cementing your credibility.
It’s for this reason that New
Zealand Trade and Enterprise
is so hot on the idea of Kiwi
businesses telling a unified
New Zealand story, rooted in
the idea that the core values
are integrity, ingenuity and
kaitiaki – guardianship of our
people and the place we call
home.
If enough of us weave the
New Zealand story into own
business’ messaging, it builds
international recognition of
what makes New Zealand
businesses different and creates
a point of difference for
our products and services on
the world stage.
‘It’s in our nature’
This approach can be equally
valuable on a regional level,
for Bay businesses that want
to articulate what makes them
stand out from those across
the rest of the country. Bay of
Plenty Tourism has captured
the Bay brand nicely in the tagline
“It’s in our nature”.
The organisation’s brand
story begins with: “Ours is a
place of positive energy. A
rich coastal paradise blessed
with raw potential. Where
cultures embrace and the natural
generosity of our people
is as abundant as our fertile
land and open seas. A place of
discovery – our ingenuity, determination
and bold thinking
connect us to the world”.
This is a powerful summation
of some of the Bay’s
renowned attributes. And it’s
not hard to see how local businesses
could weave elements
of this regional story into their
storytelling and marketing
copy to make it more compelling
and credible.
Just imagine you’re a local
company selling technology
for the kiwifruit industry.
You’ll find it easier to engage
prospective customers if you
Waihi Beach
mention that you are based in
the Bay of Plenty – a region
known for its fertile soils and
kiwifruit success – than if you
say you are based in Invercargill
or Wellington.
The same would be true
for businesses in other sectors,
such as surfing apparel or fishing
equipment, which align
closely with the attributes
mentioned in the Bay of Plenty
story.
There are also many less direct
ways to bring our region’s
brand story into your business
storytelling. In the case of my
own business, or any other Bay
business in a creative industry,
telling your story with an emphasis
on the inspiring location
where we are based can add
value.
The great Bob Dylan once
famously said: “Get outside.
Get out into the world, man…
light a candle and write under
the new moon. That’s when
The Operator comes to whisper
the Secret Words to you.”
The outdoors is at the heart
of our lifestyle in the Bay, so
if Bob’s right, we’re bound to
be a more inspired bunch than
most.
If you’re not doing so already,
it’s worth taking a moment
to consider how you can
use the Bay of Plenty story for
the benefit of your own business.
You might be surprised
at the difference it can make.
Outlook for 2020 positive,
despite the challenges
Well hello 2020 –
and where did the
last 20 years go?
Here we are at the beginning
of a brand-new
year and no doubt there
is an abundance of planning
and goal-setting happening for
the year ahead.
As I wrote this article on
holiday, looking out to the
beach, I certainly reflected on
a) how fortunate I am, but also
b) on how technology has progressed
over this time, enough
to allow me to work remotely,
to have valuable extra time
with family and friends and to
have a little more balance in
my own life.
It seems like only a few
years ago there was no internet
here or mobile reception
for that matter, and I would
have had to rush back to my
office to check a huge amount
of emails, while wondering if
I had ever actually been away
on holiday.
Technology has certainly
provided a lot of flexibility for
myself and my business.
Recruitment-wise, I believe
that we have had a positive end
to 2019, which leads to a good
start to the year with many
organisations proactively
seeking talent to increase current
capabilities, noticeably
through the increase of leadership
roles. More and more
businesses are embracing flexible
working hours within their
workforce, which is in turn
widening the pool of candidates
available to them and
increasing capability.
Candidate market tight
As a nation and region we are
still experiencing a very tight
candidate market, which is
causing employers across a
variety of sectors a fair amount
of pain, it’s hard to grow a
business or even meet market
demand if you can’t find
employees.
It seems like a sensible
option to consider all available
options where possible to
broaden the pool of candidates.
The Bay of Plenty employment
market certainly seems to
be holding up reasonably well
with recruitment and employment
stats over the Tauranga
and Rotorua regions showing
positive signs of growth, and
HUMAN RESOURCES
> BY KELLIE HAMLETT
Director, Recruitment & HR Specialist, Talent ID Recruitment Ltd.
She can be contacted on kellie@talentid.co.nz or 027 227 7736
the region still being very
much on point as a destination
for candidates to relocate to
despite the increasing house
prices.
The New Year brings
movement in the workforce –
those who are either relocating
to the region and looking for
work, or those who are currently
employed and looking
for a career move.
February is the time where
we traditionally experience an
influx of candidates, which in
turn will be extremely welcomed
and good for employment
sector.
I urge employers to really
consider hiring based on future
anticipated demand rather than
just present need.
Recruitment processes are
presently taking longer and
are increasingly difficult due
to talent shortages. My advice
is, if you find someone good,
hire them.
In a commercial sense we
are all looking forward to a
positive year ahead in which
business will sustainably grow
and flourish. Typical of most
years we have new legislation
to navigate our way through.
On 1 April, the minimum
wage is set to rise again, from
$17.70 per hour to $18.90 per
hour. Overall as an employer I
feel that this is positive.
However, I am painfully
aware of the increasing costs
that employers are facing.
A rise in the minimum
wage may also mean that it is
timely (or expected) for you to
review wages across your entire
organisation – especially
those that are now being paid
at a similar rate to the minimum
wage.
The election ahead this
year could stimulate a unique
environment, providing yet another
challenge for businesses
to navigate.
Typically the closer we
come to the election, businesses
tend to take a deep
breath and hold. The economy
slows a bit and business confidence
can being a little less
enthusiastic.
So as we plan and set goals
for the year ahead, it’s good to
keep in mind the challenges
and speed bumps that the year
will also inevitably bring.
Here’s to a robust and positive
2020. I hope that you are starting
the year refresh and ready
to hit the ground running.

22 BAY OF PLENTY BUSINESS NEWS February 2020
Get 2020 off to a Smart Start.
Book now to showcase your
ONE
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business and learn from the best.
LEADERSHIP
DIRECTORSHIP
& GOVERNANCE
SOCIAL MEDIA/
CONTENT MARKETING
KEY NOTE SPEAKER
Craig Hudson
Managing Director
New Zealand &
Pacific Islands, Xero
GUEST SPEAKER
Kirsten Patterson
Chief Executive,
Institute of Directors
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Brent Ireland
Director, Collab Digital
Smarter Business Event
The National Business Network – Smarter Business Event 2020
will bring together hundreds of businesses from corporates to
SME’s in one location for one day across all business categories
attracting business owners, decision makers, managers and staff.
The purpose of the event is to bring Bay of Plenty wide businesses
together annually at one location for a day to hear from leaders
and well-respected business people to network, make contacts,
build new relationships, find new business partners, contractors,
suppliers and clients to do business.
The event is designed to provide every business that attends with
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Each business gets a 1m x 1m table with entry
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Queen Elizabeth Youth Centre (QEYC)
Cnr Devonport Rd & 11th Ave, Tauranga
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February 2020 BAY OF PLENTY BUSINESS NEWS 23
Due diligence when buying a business
When you want to buy
an existing business,
it’s hugely important
to know for sure that the business
you have your eye on is
indeed profitable.
You’ll have to carefully
establish that the projections
of potential earnings that the
seller has provided are achievable
and realistic. That’s why
you need due diligence.
“Essentially, due diligence
is doing your homework and
thoroughly investigating the
business before you commit
to buying it,” says Paula Lines
from The Law Shop.
“You’ll need to get accounting
advice on the past
performance of the business,
research council requirements,
forecast future turnover and
profitability, go over the lease
and all other contracts, and
check the condition of all the
assets you are purchasing,” she
explains.
“Your accountant has to
check the financial records of
the business you want to buy,
including annual accounts and
any management reports for
the past three to five years.
“Potential tax implications
of the purchase need to be
explained, as well as the best
ownership structure.”
Paula or one of the other
Business Law specialists at
The Law Shop can be consulted
to review the sale and
purchase agreement itself, as
well as the various contracts
that the business you want to
purchase is party to such as the
Paula Lines, Commercial
Lawyer at The Law Shop.
lease, agreements with suppliers,
employment contracts and
terms of trade.
“We can check if all the
licences and certifications that
are needed to operate are in
order, and we can look at registered
intellectual property
rights such as trademarks and
make sure they are being transferred
to you,” Paula says.
Some of the information
that you’ll need to access for
the due diligence process can
be sensitive, so the seller may
require that you sign a confidentiality
or non-disclosure
agreement.
This is common practise
but do make sure that the
agreement has been reviewed
by your lawyer before you
sign it.
You must also focus on the
business’ viability. You should
investigate what customers
love about this business, and
make sure that it’s included
in the sale or otherwise built
upon by you as the new owner.
If the previous owner’s
skills and personality are key
to the success of this business,
you’ll have to make sure
you are just as good if not
better at providing that same
service.
Paula explains that if you
haven’t signed a sale and purchase
agreement, you can just
walk away from the sale if
you aren’t satisfied with the
Essentially, due diligence is doing your
homework and thoroughly investigating the
business before you commit to buying it.”
results of the due diligence
investigation.
You could also see it as
an opportunity to negotiate a
lower price, considering the
matters that need to be dealt
with to get everything in order.
“Due diligence takes time
and costs money but if you
don’t do it, you risk losing a
lot more if you find out that
the business doesn’t make the
money you expect, or if you
need to replace things soon
after purchase,” Paula says.
If you are looking at buying
a business and have questions
about the legal side of things,
contact The Law Shop by
phoning 0800 LAW SHOP.
The friendly team is more than
happy to help.
PAULA LINES
LL.B | Director
ROTORUA
1268 Arawa St
Rotorua
TAURANGA
Virtual Office

24 BAY OF PLENTY BUSINESS NEWS February 2020
Trusted to sell the Bay of Plenty’s finest homes
and lifestyle properties.
OLIVER ROAD ESTATE AGENTS LIMITED | LICENSED REAA 2008
Willowdene
174C MOFFAT ROAD, BETHLEHEM
$2,875,000 5 bed 5 bath 4 car
Luxury & Lifestyle
420 MINDEN ROAD, TE PUNA
$3,650,000 4+ bed 4 bath 3 car 597 m 2 9,026 m2
397 m 2 3,007 m 2
3,369m 2 Architectural Excellence
Country Class
34 GASSON LANE, PYES PA
EO $2,150,000 6 bed 3 bath 2 car 470 m 2 6,439 m 2
Escape the Ordinary
73 MARGARET DRIVE, OMOKOROA
$2,590,000
4 bed
3 bath
2 car
439 m 2
‘Redwood’ Lodge & Cottage
47C MOFFAT ROAD, BETHLEHEM
$2,350,000 5+1 bed 3+1 bath 8 car 316 + 56 m 2 8,987 m 2
94A MAXWELLS ROAD, OTUMOETAI
BY NEG 4 bed 2 bath 3 car 394 m 2 255m 2
Jason Eves 027 587 5509
Cameron Macneil 021 800 889
oliverroad.co.nz