Waikato Business News May/June 2021

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16 WAIKATO BUSINESS NEWS May/June 2021 Jean McKenzie says adults are increasingly realising the importance of education. Tutoring business sees stellar growth A Te Awamutu tutoring business is seeing huge growth because of Covid, with an increasing number of adult students looking to their future. While much of the Covid recovery talk has been around industries such as construction and primary production, Impact Tutoring founder Jean McKenzie says in the calendar year to January 2021 her business has more than doubled in size, with a significant boost from an online offering. Adult students in some cases have been made redundant, but also include those still in work and seeking to broaden their options. “A lot of adults are realising how important education is - that education is king, basically,” McKenzie says. “So they are wanting to protect themselves by gaining more knowledge and more qualifications. “The interesting thing I find is it doesn't matter whether they're in Taupō, it doesn't matter whether they're in Canterbury, it doesn't matter whether they're in Dunedin, the conversations are still the same.” Often the adult learners need to refresh their memory in things like how to write an essay. “For example, a month or so ago, I had a guy call us from the outskirts of Canterbury. He lives in a rural area. He's doing online university work, but he had a compulsory maths paper that for him was really difficult to manage. “So he contacted us and I was able to put him in touch with my tutor in Kerikeri.” Impact Tutoring now has five online tutors as well as those teaching face to face in its Te Awamutu hub, four of whom also tutor online. Covid has also shown many parents the advantages of online learning. “The kids themselves have always been comfortable with technology. And parents were forced to step aside, because that was the only way forward. And so what they've found is that it's actually a really good way to learn, that online learning is actually accessible, and a way around lots of obstacles that were in place before.” In some cases students in Te Awamutu are choosing to do their learning online because of the convenience. The change, accelerated by Covid, has also seen the business growth model change, with a shift from setting up branches KNOWLEDGE CAN BE TAUGHT, BUT VALUES CAN’T BE SO THAT’S WHAT I’M ALWAYS ON THE LOOKOUT FOR. outside Te Awamutu to recruiting “outstanding” online tutors. McKenzie has a range of tutors, from university students to qualified teachers and says the key when she is employing is the applicant’s values. “Knowledge can be taught, but values can’t be so that's what I'm always on the lookout for.” Impact Tutoring is also developing online modules for families that may struggle to pay the cost of the face-toface learning. “Education just opens doors for people. That's our focus all the time.” • Impact Tutoring was a finalist in the Innovation and Adaptation category of the Waipā Networks Business Awards. Climate-related disclosures, are you ready to report? Late last year the Government announced its intent to make climate-related financial disclosures mandatory for all publicly listed companies and large financial services organisations. PEOPLE AND CULTURE > BY VICTORIA ASHPLANT Victoria Ashplant is a PwC Director based in the Waikato office Email: victoria.j.ashplant@pwc.com This includes large insurers, banks, non-bank deposit takers and investment managers. According to the Ministry for the Environment the purpose of mandatory climate-related disclosures is to: • ensure that the effects of climate change are routinely considered in business, investment, lending and insurance underwriting decisions; • help climate reporting entities better demonstrate responsibility and foresight in their consideration of climate issues; and • lead to more efficient allocation of capital, and help smooth the transition to a more sustainable, low emissions economy. What will be required? The Bill is currently before Parliament but impacted organisations could be required to make disclosures as early as 2023. The External Reporting Board (XRB) is responsible for developing the reporting standards which are expected to closely align with the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD). In order to meet the disclosure requirements being proposed, businesses will have to demonstrate how they embed environmental and social practices through their strategies and risk frameworks into the core of board level decision making. These disclosure requirements are likely to change the way companies evaluate business decisions, including the way they gather information and present business cases or investment returns. What can be done now? Even as the proposed disclosure requirements are developed, there is still an obligation for businesses to think about this now. Organisations must still meet requirements under existing NZ IFRS standards (such as the impact of environmental risk on your impairment testing under NZ IAS 36, provisions NZ IAS 37, such as cost of remediating environmental damage and if your business model presents risk of being unsustainable, going concern). What will the proposed changes mean? When they come into force, these reporting requirements will drive greater transparency around climate change related risks and opportunities, helping markets to more accurately value climate risk, and supporting New Zealand’s transition to a low emissions future. +++++++ +++++++ +++++++ +++++++ +++++++ Procuta Associates Urban + Architecture Contact us 07 839 6521 www.pauaarchitects.co.nz
WAIKATO BUSINESS NEWS May/June 2021 17 Fast 50 entries open Marketing the Mighty Waikato proposition TELLING WAIKATO’S STORY > BY JASON DAWSON Chief Executive, Hamilton & Waikato Tourism The Deloitte Fast 50, the index that ranks fast-growing Kiwi companies, is open for entries until July 30. The 2021 results will be announced on September 30. The Fast 50 programme, now in its 21st year, includes the national Deloitte Fast 50 index and associated regional awards and the Master of Growth index recognising established businesses achieving longer term sustained growth. For more information, visit www.fast50.co.nz Heritage on show Destination marketing involves more than just ‘selling’ the region as a place to visit and have a short break. Marketing a region involves everyone – from word-ofmouth recommendations, locals talking up the place they call home, celebrating our award-winning businesses, sectors and hospitality providers, telling our Waikato food story proudly, and positioning our region on its strengths in the primary, medical, tech, agri-tech, science, education, food production, tourism and construction sectors. Tourism and events are seen as a ‘window or gateway’ into a region’s DNA. If you have an exceptional visitor experience or attend an inspirational event, you are more likely to return to visit again, plus eventually live, study or invest in the Waikato. The marketing mix has also changed from mass marketing to trade, business or consumers, through to more personalised, co-curated and geo-centric channels. It’s also more than traditional advertising in print or broadcast media, where digital advertising now leads from outdoor and indoor channels through to direct on your mobile phone. However, the good thing which is still common across all marketing channels is that content is king, which is where we focus a lot of our efforts to support our other destination marketing efforts. The May edition of Air New Zealand’s Kia Ora magazine is a good example where we successfully hosted a travel writer for three days which led to an eightpage feature on the Mighty Waikato. This not only provides an independent view of their experience and what makes this region so special in their own words – it also has a high conversion rate to inspire visitors to Waikato. Working with the producers of The Apprentice Aotearoa to bring the teams to Hamilton for a tourism marketing challenge didn’t happen by accident either. There was clear intent in working behind-the-scenes to ensure that Hamilton was shown in a positive light on national television and the audience has been quick to share their thoughts as well! We have been working tirelessly with a range of media organisations like travel bloggers, podcast producers, social influencers and magazines like Cuisine and House & Garden, to make the Mighty Waikato top-of-mind in travel destination choices. This has been more important than ever to reposition the region in the domestic market. We are also rolling the successful Ambassador programme which was first piloted in Kirikiriroa Hamilton, and is now being developed for five other regions across the Waikato. The three-hour training programme helps expand residents’ local knowledge by providing simple tools to create positive and memorable experiences for leisure, business and family visitors. These include the history, unique stories and colourful characters who helped shape the region. To find out more and register for the next Kirikiriroa Hamilton course, visit www. waikatonz.com/ambassador Lastly, we all have a part to play to be proud and promote our community, businesses, events and people. If you have a story to share or something to celebrate, make sure you let us know. Remember, we live in an amazing part of the world and the rest of New Zealand needs to be reminded about how special it is. A collection of heritage Hamilton photos are being given an interactive twist in a window display in Garden Place. The photos in the Hamilton Central Business Association window respond to onlookers’ movement and have been installed as part of the CBD activation programme. The association put together the Storybox display in partnership with the Heritage section of the Hamilton libraries which provided over 500 images of the city. Hamilton’s heritage is on display “ It is a pleasure to announce that we are expanding our business and with your continuous support we are very excited by the growth and success that we have achieved in this nine short years. The years of service has been a privilege and would like to take this opportunity in announcing that we are moving into our purpose-built Office by the end of October 2021. This is a celebration of what we have been able to accomplish together - with the focus on quality and trust, we have built enduring relationships with our clients and we will very much strive to continue providing you with a better service. We will advise you as we get closer to our move, until then business remains as usual with Office Location, Phone Contact Numbers, Record Drop-off Box etc remain unchanged. Singh & Associates Limited provides the expertise you need to grow your business to next level. A personal & professional service to assist with every successful outcome. Moving October 2021 OUR NEW HOME 145 Ossie James Drive, Titanium Park, Hamilton. singhandassociates.co.nz | 07 843 6004
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Page 3 and 4: From the editor Kia ora koutou. Thi
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Waikato Business News May/June 2021

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