May 2021 - Bay of Plenty Business News

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20 BAY OF PLENTY BUSINESS NEWS May 2021 Historical changes to how we consume technology Over the years, technology has revolutionised our world and daily lives, with the trend of the increasing significance of technology only set to continue. It is therefore of use to look back at how technology has evolved. Understanding the driving factors behind innovation, and the evolution for how technology is consumed could provide insights and set the stage for what the future might hold. In a matter of just over 70 years, computers have gone from requiring an entire warehouse to operate, to a device as small as seven inches and weighing less than a kilogram running largely from a Cloud. This drastic growth in technical capabilities has led to an equally drastic change in how computer technology is consumed. The original general-purpose computers largely acted as mathematical calculators. Today, relatively strong computational power can be found in everything from our smartphones to our watches and even our fridges. There have been several historical events that accelerated breakthroughs in technology, the most notable being World War II. This period acted as a midwife to the birth of the modern electronic computer. Unprecedented military demands for calculations and hefty wartime budgets spurred innovation. Ultimately, technology played a greater role in the conduct of World War II than in any other war in history and had a critical role in its outcome. Shortly after World War II, the first programmable digital computer, called ENIAC was built and designed specifically for computing artillery range tables for the military. Plugboards were used to implement ENIAC’s programming, which could take weeks to implement, but once completed allowed for computational speeds achievable by electronic means only. Impact of the Space Race The space race between the Soviet Union and the US was inaugurated by the Soviet’s launch of the first artificial satellite, Sputnik on October 4, 1957, which marked the start of satellite GPS mapping and revolutionised global navigation, travel and communication. Light speed communication was the greatest innovation to be born of the race. In 1969, the Advanced Research Projects Agency transmitted the first message over a global satellite network (ARPANET). This was the inception of the internet. 2020 was a year dominated by the need to contain a pandemic. Nations scrambled to contain the virus, resulting in the first worldwide lockdown. Although the technology already existed, the pandemic gave rise to 88% of organisations globally requiring their service TECH TALK Sputniks launch on October 4, 1957 revolutionised global navigation, travel and communication. > BY TONY SNOW Tony Snow is chief executive and co-founder of Stratus Blue. He can be contacted at Tony@stratusblue.co.nz. employees to work from home. Society had already believed we lived in a digital age, the pandemic solidified that without the advancements in technology, many would not have been able to continue business as usual. An abrupt shift to a remote workforce brought hope to global economies, Confidential but it didn’t come without personal its downfalls. Cyber-crime rose to an alltime high. Organisations, governments and individuals all became targets. The rapid shift to work from home produced ideal conditions for cyber criminals. Many organisations didn’t have the time to implement robust cyber security solutions. TechRebublic reported a 667 percent rise in phishing attacks in March 2020 alone, and a rise of 800 percent in ransomware attacks causing an estimated global loss of approximately $1 trillion. These changes to the cyber security threat landscape have called for drastic advancements in threat detection and security measures, with the Cyber Security market forecasted to reach $170.4 billion by 2022 according to Gartner, as organisations improve their defences against cyber threats. Time to sell your business? Confidential personal service ADVERTORIAL Is this the best time to sell your business? Obviously, that will always depend on individual circumstances. But one thing is clear – it’s better for you to be in control of the process and not be forced to sell due to health, death or relationship breakdown. We are seeing numerous positive indicators that business values are being maintained and in many cases are increasing. We have no doubt from our research and experience that that quality businesses are in demand at the moment. Generally the majority of businesses we have been seeing have produced really good financial performances post-Covid 19 lockdown. Fears that Covid-19 has affected their value downward appears to be unfounded in the majority of cases we have examined. For example, the Tabak Tauranga office recently sold a large manufacturing business to an expat New Zealander who was involved in a corporate job overseas, but had decided to return home because of the Covid- 19 epidemic. The negotiations between the broker, purchaser and vendor were all conducted on Zoom prior to the purchaser returning to New Zealand. The purchaser has now settled with his family into the community and is enjoying being out of the corporate world and working for himself. A breakdown of our sales shows that in 2019 only 10 per cent of purchasers were from out of the Bay of Plenty region with 90 per cent being existing residents. But by 2020, 60 per cent of the buyers came from outside the Bay of Plenty with 40 percent local residents, and with that trend continuing so far in 2021. I have also noticed an increase in the number of companies from outside the region interested in acquisitions. One South Island company in particular is looking to expand into North Island towns and cities. Their model is to acquire an existing profitable business with staff, premises, systems and customer base in place, rather than trying to start up a new business for themselves. Basically, businesses are attractive as a result of the BETTER BUSINESS SALES > BY PAUL BRLJEVICH Director at TABAK Business Sales. Paul can be reached on 027 693 4079 or paulb@tabak.co.nz overseas, and moving to the Bay of Plenty for Selling your business? lifestyle, coupled with the Selling your busines higher returns being provided. And business ownership continues to be exempt from Capital gains tax, while all interest costs continue to be 100 percent tax deductible. As a result, business values are being supported by a number of factors. These include: • A lack of quality businesses available on the market. • A significant number of purchasers coming from workers recently made re- good quality businesses is We connect quality businesses with serious bu dundant who want greater We connect quality control businesses of their working with serious buyers lives. • Historically low interest rates available for purchase. • And rental housing and commercial investors seeking higher returns from businesses. The total number of businesses is down circa 40 percent across the New Zealand market and the demand for high. We are also finding buyer demand for quality businesses is higher than in pre Covid-19 times. In our view, now is an ideal time to get a market appraisal for your business and to consider selling. Selling your business? We connect quality businesses with serious buyers For more information call: (07) 578 6329 or email: tauranga@tabak.co.nz For more information call: (07) 5786329 or email: tauranga@tabak.co.nz Confidential personal service Licensed REAA (2008) 147 Cameron Road www.tabak.co.nz For more information call: or email: tauranga Licensed REAA (2008) Licens
May 2021 BAY OF PLENTY BUSINESS NEWS 21 First on the scene Photos from Tauranga Chamber of Commerce’s BA5 with Tauranga City Council commissioners. Photos by Vanessa Laval-Glad, Laval Studio 1 2 1 Geoffrey Campbell (The Why Limited) and Valerie Rowe-Mitchell (Emerald Business Advisors). 2 Wiremu Matthews (Kanuka Wellbeing & Leadership) and Shad Rolleston (TCC Commissioner). 3 Jacqui and Peter Wren-Hilton (Wharf42). 3 4 5 4 Mike Bryant (Ministry of Social Development) and Tania Wilson (Momenta Charitable Trust). 5 Monique van Aken and Mel Cunliffe (Tauranga Chamber of Commerce). 6 Garth and Marie Morris (BestStart Educare). 6 7 7 Martin Wang, Fiona Chen and Tom Lo (Good Top). 8 Rob Bull (Plexus Consulting), Tim Taylor (Houston Technology) and Alan Neben (BOP Business News). 8 9 10 11 9 Tauranga Chamber of Commerce CEO Matt Cowley opens the BA5. 10 Barbara Dempsey (Tauranga City Council), Bill Wasley (TCC Commissioner) and Christine Ralph (Graeme Dingle Foundation). 11 Philipp Wilkens (Computastyle Designs) and Wayne Shadbolt (Graeme Dingle Foundation).
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May 2021 - Bay of Plenty Business News

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