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May 2021 - Bay of Plenty Business News

From mid-2016 Bay of Plenty businesses have a new voice, Bay of Plenty Business News. This new publication reflects the region’s growth and importance as part of the wider central North Island economy.

From mid-2016 Bay of Plenty businesses have a new voice, Bay of Plenty Business News. This new publication reflects the region’s growth and importance as part of the wider central North Island economy.

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18 BAY OF PLENTY BUSINESS NEWS <strong>May</strong> <strong>2021</strong><br />

NEWSBRIEF<br />

Startup Weekend<br />

Tauranga |<br />

Wellbeing<br />

Friday 14 <strong>May</strong> to<br />

Sunday 16 <strong>May</strong><br />

Basestation, 148<br />

Durham St, Tauranga<br />

Priority One is getting right<br />

behind this event and looking<br />

for community-minded<br />

people who want to improve the<br />

well-being <strong>of</strong> our community<br />

and work together with a team<br />

<strong>of</strong> like-minded people to come to<br />

impactful solutions.<br />

What is Startup Weekend?<br />

Startup Weekend is an entrepreneurial<br />

event organised by volunteers<br />

all over the world. For the<br />

last nine years, Startup Weekend<br />

Tauranga has brought together<br />

innovators, problem solvers,<br />

marketers, developers, designers<br />

and more. In just 54 hours<br />

participants meet, form a team,<br />

develop an idea, and showcase<br />

their startup concept to a panel<br />

<strong>of</strong> Judges.<br />

Why should I attend? Pitch<br />

an idea, learn a new skill, talk to<br />

as many people as possible, and<br />

step out <strong>of</strong> your comfort zone.<br />

It’ll be the best thing you do<br />

that weekend! If you want to put<br />

yourself in the shoes <strong>of</strong> an entrepreneur,<br />

register now for the best<br />

weekend <strong>of</strong> your life.<br />

More information and register<br />

at Priority One.<br />

Enabling can<br />

be disabling<br />

After nearly 15 years in credit management and<br />

almost six in the repossession industry I have noticed<br />

a few trends. One <strong>of</strong> these is that people will not<br />

learn from the consequences <strong>of</strong> their actions if they<br />

do not have to face them and taking away the ability<br />

<strong>of</strong> the debtor to deal with the matter as soon as<br />

possible does not help them in any way.<br />

Time after time we pursue a<br />

debtor for either collection<br />

or repossession only to be<br />

blocked by a well-meaning parent<br />

or family member, who knowingly<br />

shields the debtor from speaking to<br />

us thinking that they are doing them<br />

a favour. This could not be further<br />

from the truth.<br />

You see, generally the longer<br />

a debt is outstanding or the more<br />

work that is involved in locating<br />

the debtor, the higher the fees and<br />

the more serious the potential legal<br />

consequences.<br />

Often expensive court action is<br />

required where a simple and inexpensive<br />

phone call or field visit<br />

could have resolved the matter.<br />

Another well-meaning but ultimately<br />

damaging action taken by<br />

people, particularly parents, is<br />

repeatedly bailing debtors out <strong>of</strong><br />

debts and then expressing surprise<br />

when more debts crop up.<br />

“If you take away the pain you<br />

take away the lesson” is a saying that<br />

a good friend <strong>of</strong> mine says <strong>of</strong>ten and<br />

I feel it is very applicable here.<br />

The only lesson that is learned<br />

from not having to deal with the<br />

consequences <strong>of</strong> poor decisions<br />

is that poor decisions have no<br />

consequences.<br />

I have seen parents literally bankrupt<br />

themselves bailing errant adult<br />

The only lesson that<br />

is learned from not<br />

having to deal with<br />

the consequences <strong>of</strong><br />

poor decisions is that<br />

poor decisions have<br />

no consequences.”<br />

children out <strong>of</strong> a string <strong>of</strong> debts.<br />

Whether this be out <strong>of</strong> a sense <strong>of</strong><br />

shame, guilt or obligation it does not<br />

help and this is made obvious by the<br />

behavior repeating itself and the pain<br />

shared not reduced.<br />

Suggestions for scenarios<br />

CREDIT CONTROL<br />

After seeing how hundreds <strong>of</strong> the<br />

above scenarios have panned out,<br />

here is my suggestion.<br />

Instead <strong>of</strong> helping a debtor avoid<br />

a debt or paying it for them there is a<br />

way that can achieve the goal <strong>of</strong> the<br />

debt going away or at the very least<br />

limit the extra costs and interaction<br />

with lovely agents such as myself<br />

and my collegues.<br />

Encourange the debtor to run<br />

a free credit check through www.<br />

mycreditfile.co.nz or www.creditsimple.co.nz<br />

and take this to either a<br />

> BY NICK KERR<br />

Nick Kerr is a <strong>Business</strong> Advisor at NJK Advisory Ltd.<br />

He is also director <strong>of</strong> International Private Investigations<br />

Ltd. Nick can be reached at nick@nzipi.com<br />

budgeting advice service or contact<br />

each creditor directly and <strong>of</strong>fer a<br />

payment plan.<br />

You will both be surprised at how<br />

nice and accommodating creditors<br />

can be once a debtor makes contact<br />

<strong>of</strong>fering a payment plan.<br />

No matter how small the payments<br />

are, as long as it is reasonable,<br />

this way not only is the problem<br />

confronted head and the anxiety and<br />

stress reduced the lesson is not lost,<br />

which will make it less likely for the<br />

situation to reoccur.<br />

Just a thought.<br />

ALTOGETHER<br />

At <strong>Bay</strong>leys, we believe relationships are what businesses are built on and how they<br />

succeed. We understand that to maximise the return on your property you need:<br />

Pr<strong>of</strong>essional property management<br />

A business partner that understands your views and goals<br />

Contact the <strong>Bay</strong>leys Tauranga Commercial Property Management team today.<br />

<strong>Bay</strong>leys Tauranga<br />

Commercial Property Management<br />

07 579 0609<br />

jan.cooney@bayleystauranga.co.nz<br />

SUCCESS REALTY LTD, BAYLEYS, LICENSED UNDER THE REA ACT 2008<br />

ALTOGETHER BETTER<br />

Residential / Commercial / Rural / Property Services

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