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Member News


  • 15-Mar-2019 08:55 | Tracy Dawson (Administrator)

    The City of Parramatta is hosting its first Product and Experience Showcase as part of building the destination’s reputation as a “place where people want to be”. Council will introduce you to their changing and emerging destination. Find out what the City of Parramatta has to offer, and how Council can help grow your business to their City.

    This free event provides the opportunity to speak directly with over 20 exhibitors representing many of the City’s: attractions, experiences and events; conference & meeting venues; accommodation providers, tour operators and hire services.

    When: Monday 8th April, 2019 between 10:30 AM and 12:30 PM

    Where: Rydges Parramatta, 116-118 James Ruse Drive, Rosehill

    Ample free parking is available and the hotel is close to public transport, connecting to the Parramatta Train Station & Transport Interchange.

    Drop-in any time during the two hours. A welcome pack will be waiting for attendees and refreshments will be available throughout the morning.

    A Panel Discussion with industry leaders (including a short Q and A session) will also be held from 11:15 to 11:45. Topics will cover:

    • Parramatta - Sydney’s Central City: Aspirations and Directions
    • “Sydney’s West” Marketing Strategy and Campaign
    • The Future for Transport Infrastructure & Access in Parramatta and Western Sydney
    • Cultural Heritage and the Visitor Experience.

    If you would like attend or to find out more, please contact Keith Baker, Tourism Product Development Coordinator: kbaker@cityofparramatta.nsw.gov.au before Friday 29th March 2019.


  • 14-Mar-2019 15:08 | Tracy Dawson (Administrator)

    You’ve got a new role to fill in your business. You want someone with the right skill set and experience. Someone who will be loyal and who is the right fit for the team.

    But getting good talent is not that easy. There are many successful businesses with fantastic products who still face challenges when it comes to people power.

    Recruitment agencies are expensive. And they don’t always have the depth of knowledge in your industry to find you a gem in a pile of resumes.

    Worse than not filling your vacancy is hiring badly. It’s a waste of time and money – onboarding the wrong person can equate to up to 2.5 times the salary of the position.

    What can you do about it?

    Fortunately, there is a solution for businesses across all industries – you can tell your story.

    Storytelling allows you to position yourself in the best possible way to attract good talent.

    Through storytelling you can show applicants who you really are and what working for you is really like.

    Set yourself apart

    Scrolling through Seek can leave you feeling uninspired, but if you see a story in your newsfeed about what it’s like to work at a company you’re interested in, that’s something different.

    The absolute best way to do this is to get your employees to tell the story for you.

    A landing page with video and text is ideal. It’s a great way to demystify your organisation for applicants.

    Convey emotion

    We practise what we preach at Brilliant Digital – take a look at our Flexible Work page.

    We asked our team to tell applicants in their own words why it’s great to work here. And in doing so we uncovered some delightful and heartfelt stories.

    That’s recruitment gold. You can’t convey that feeling and emotion in a traditional job ad.

    Be yourself

    Getting someone who is the right fit can be harder than it sounds. The interview process doesn’t always allow for each party to represent themselves sincerely.

    Optical Solutions Australia has a smart careers page.

    They are an engineering company that has shaken off the shackles of a technical facade by the team telling real, relatable stories about working at OSA.

    Make a connection

    Storytelling allows you to break down barriers, so by the time you’re sitting in an interview room, the applicant has read your story or watched your video.

    They’re already engaged emotionally and that’s half the battle of recruitment.

    Know the motivators!

    Make sure you include hooks that will attract the best talent. And that’s not just dollars …

    Maybe you offer on-the-job training, work from home options or a particular benefit … career advancement opportunities.

    Talk about whatever makes you special and you’ll attract people who are the right fit for your business.

    It’s time to stop paying exorbitant agency fees. You need to get great talent that fits, first time.

    Read the full article here.

     

  • 14-Mar-2019 12:50 | Tracy Dawson (Administrator)

    Seafood lovers can indulge in the freshest locally sourced seafood buffet every Saturday from 6:00pm to 9:00pm at TABLE 30.

    Enjoy Sydney rock oysters, king prawns, Balmain bugs and blue swimmer crabs, plus a variety of enticing hot dishes, salads and a live dessert cooking station.

    WSBC Members and Contacts Special Offer:

    Quote ‘WSBC’ upon booking and receive the following special offer:

    A Seafood Buffet for 2 with a complimentary bottle of House Wine for $130.00*. 

    For reservations or enquiries:

    P: 9685 0377

    E: dining.prsyp@parkroyalhotels.com

    Click here for further information or to book.

    *Valid when dining before May 26th 2019.



  • 13-Mar-2019 16:27 | Tracy Dawson (Administrator)

    In Australia, every horse has its birthday on the 1st August. To celebrate, book your event before 1st August 2019 and receive one of the following upgraded extras*:

    • A gelato bar – add on to your conference package breaks or as additional dessert option for plated packages
    • Chef’s selection of canapes – during pre-lunch or dinner drinks, or post conference
    • Lucky door prize giveaway for your event for 4 people to dine in either Grandview Restaurant or Winning Post Restaurant on a race day
    • Complimentary alternate serve – plated conference packages, dinner or lunch options

    As an added bonus, book your event in the new space at Royal Randwick, The Stalls, to receive 4 x tickets to Australia’s richest race on turf, The Everest.

    *Minimum numbers apply. For events booked and held before 1st August 2019.


  • 12-Mar-2019 14:31 | Tracy Dawson (Administrator)

    New opportunities for loan origination

    In a landscape of regulatory change and increasing competitive pressures, mortgage, asset and commercial loan originators face significant challenges. However, they also have opportunities to grow. With tightening credit restrictions, borrowers are finding it harder to secure capital – and at the same time, they demand more choice than their incumbent bank can provide.

    Macquarie’s insight paper, Thriving in Change, shared four universal truths affecting most businesses. These same trends are playing out for brokers, who are also best placed to support business owners in funding their growth strategy. Here’s our predictions on what that might mean within the next few years.

    Click here to read the full article.


    Macquarie has been providing Business Banking solutions for over 30 years and provides SME clients with tools and strategies to grow and develop their business. You can get regular updates by subscribing to the monthly newsletter, Strictly Business by visiting macquarie.com.au/businessbanking. If you would like to find out more about how Macquarie can support you to take your business further, call Sam McCarthy at our Parramatta office on 0417 518 724 and be connected with one of our banking specialists.

    This information has been prepared by Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502 (“Macquarie”) for general information purposes only. This information does not constitute advice. Opinions expressed are subject to change without notice. No member of Macquarie accepts any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of this information.


  • 12-Mar-2019 11:31 | Julie Falzon (Administrator)

    According to the latest William Buck merger and acquisition report, the last five years have seen merger and acquisition activity growing in the mid-market.

    While local transactions have grown, there’s also been a flurry of inbound activity for quality Australian businesses; driven by a weaker Australian dollar, a stable investing environment and a strong developed economy.

    Trends show foreign buyers are paying a premium for local mid-market businesses, with foreign investment transactions considerably higher than local ones. This trend was consistent over the last five financial years, with foreign buyers in mid-market deals paying an average of EV/EBITDA multiples of 13.2x compared with about 10.6x paid by local buyers.

    With interest from foreign firms making Australia businesses more lucrative for a sale, there’s still big opportunity for businesses to consider adopting their acquisitive growth strategy to gain a competitive edge.

    When assessing an acquisition target (or buyer), it should increase the value of the business whether directly – in the case of increased earnings – or indirectly in the case of achieving economies of scale.

    However, when pursuing growth for growth’s sake, few businesses succeed. An effective acquisition should be tied to the business’ strategic objectives. Some of the more common characteristics sought when selecting a potential acquisition target are discussed below.

    Financial performance

    Targets may be profitable or unprofitable but, in each case, the acquirer must be confident the acquisition will add value (earnings) post-completion.

    Some acquirers may purposefully seek targets that are in financial distress in order to obtain a bargain, with the belief they have the ability to turn around the target’s performance. It is essential, however, to gain an understanding of the underlying reasons contributing to the poor performance and the subsequent implications. These factors must then be carefully assessed to ensure they do not permanently prohibit the target’s ability to generate profits and growth in the future. However, the latest data shows companies are taking an alternate route to acquisition – preferring to invest in quality companies which are profitable that will shortly shift from revenue valuations to profit valuations.

    Target size

    Determining the size of the acquisition target will depend largely on the experience and resources of the acquiring entity. Our analysis found that mid-market transactions continued to dominate the total of M&A deals, with the largest segment being deals with a value of $10m-250m making up almost 50% of all deals in 2018). Smaller transactions (deals under a value of $10m) made up approximately 45 percent of the volume of all completed transactions. Generally speaking, where experience and resources are limited, smaller targets should be pursued.

    The attractiveness of an acquisition should not solely depend on the size of the potential target. Ensuring the target or buyer reflects the objectives of the acquisition strategy will be of greater importance and, subsequently, factors such as market share or synergies may be more significant than size.

    Management and key staff

    When reviewing a potential acquisition target, it is important to assess the capabilities of management and key staff and look at ways in which their skills can be used to fill gaps in the current business’ capabilities.

    It is vital the management and key staff required to ensure the future success of the business are willing to remain with the company subsequent to the acquisition. Conversely, it is important to look at functions or job roles that may overlap post-acquisition and have a redundancy strategy in place if required.

    Cultural compatibilities

    Differences in corporate culture is one of the major factors contributing to the failure of mergers and acquisitions. As such, cultural issues should be carefully considered prior to entering into any transaction.

    Depending on the level of integration proposed, cultural compatibility may, or may not, be essential to the success of the transaction. Where there is a low level of integration required, the transaction is unlikely to cause any significant culture shock to employees and synergistic cultures may not be essential to the success of the transaction.

    Where there is a high level of integration, culture shock can be a big problem that may eventually lead to key employees feeling unsatisfied and leaving the organisation.

    Achievability of forecasts

    Careful consideration must be paid to any forecasts (financial or otherwise) that may be relied upon in making decisions regarding the transaction, particularly where they are prepared by the target or on behalf of the target.

    Financial forecasts may often be unrealistic and can fail to take into account delays as a result of the transaction going ahead.

    Intellectual property

    Mergers and acquisitions can be useful strategies for obtaining intellectual property, such as trade secrets and patents, complementary to existing assets.

    The significant increase in IT demonstrates harnessing these capabilities.

    It is important sufficient due diligence is carried out to ensure intellectual property is protected, the target holds full title to these assets and they are not subject to any restrictions that may inhibit the intended benefits of the transaction.

    Price and terms

    Where the acquisition target is highly attractive, it can be easy for the acquirer to get carried away in the negotiation process. A transaction should not be completed at any cost to the acquirer. It is important to maintain an objective perspective and ensure a fair price and suitable terms can be agreed upon with the potential target’s owners.

    Each acquisition will have its own individual characteristics and requirements. When selecting a potential acquisition target, it is essential to refer back to the unique objectives sought in the acquisition strategy and pay close attention to the acquisition profile established.

    If you would like any further information on acquisitions, contact your local William Buck advisor.


  • 12-Mar-2019 11:00 | Julie Falzon (Administrator)

    You are appointed as Executor of an Estate. You appreciate the confidence expressed in you, and you are more than happy to help your relative or friend.

    It can’t be that hard, can it?

    What is often not appreciated is the responsibility that comes with being the Executor of an estate and that an Executor can be personally liable if the legal requirements are not performed properly.

    The basic requirements are:

    Executor’s role. An Executor is required to uphold the deceased’s Will and put into effect the deceased’s wishes as expressed in the will. This usually requires the Executor to obtain a Grant of Probate from the Supreme Court. The Grant proves to the rest of the world the Executors power to deal with the deceased’s assets.

    An Executor has a strict duty to properly and effectively administer the deceased’s Estate. An Executor can be personally liable for a breach of that duty. Executors must act impartially and prudently.

    Assets. The Executor needs to disclose full details of the assets of the Estate in his or her application for Probate. This includes assets held jointly. The Executor needs to consider how to deal with all assets including those in other jurisdictions (that is, outside NSW).

    Liabilities. Executors must ensure that all proper liabilities are paid. Liabilities that need to be considered include any possible contingent liabilities, for example, personal guarantees that may have been given by the deceased. Claims against the deceased’s assets must be investigated and if there is doubt about a claim, the Executor must deal with this carefully and prudently. Any taxation issues also need to be dealt with.

    Claims and litigation. It is not uncommon for Estates to be the subject of litigation, especially in these times where there considerable wealth may be in the estate. Litigation can arise regarding disputes as to validity of Wills, and also from people defined as “eligible persons” who can seek to claim a share or an Estate because of their relationship with the deceased. Again, an Executor must deal with any such claims carefully and prudently.

    Distributions. The Executor must ensure the nett assets are distributed in accordance with the deceased’s will. This may involve selling assets to allow cash payments or it may involve transferring assets directly to beneficiaries. There may be taxation issues that arise depending on the way assets are to be transferred.

    Timing. The Executor must not make distributions without taking into account the relevant time limits for possible claims (and there are several relevant time limits). If an Executor distributes incorrectly, an Executor can be personally liable.

    Costs. Testamentary expenses including costs properly incurred by an Executor are payable from the estate assets. Expenses that are not incurred reasonably cannot be claimed. Unless a commission is sought by an Executor (which usually involves a Court process) an Executor cannot claim for his or her time and trouble.

    What to do A prudent Executor will seek appropriate professional advice and part of that advice is to enable the Executor to perform all duties properly and to ensure that as a result the Executor’s own personal position is quarantined from any potential liability.

    More Information

    For further information, please contact the Estate Planning Team at Matthews Folbigg Lawyers on (02) 9635 7966 or email Anna Zdrilic, Principal annaz@matthewsfolbigg.com.au or Terry Doust, Principal on terryd@matthewsfolbigg.com.au


    Disclaimer: Information in this newsletter is for general guidance only and is not intended to be legal advice for your specific circumstances. Due to the seriousness of legal matters as well as the uniqueness of your individual situation, professional advice should be sought. For advice, please contact one of our specialist lawyers.


  • 08-Mar-2019 16:04 | Tracy Dawson (Administrator)

    Celebrating 10 Years

    The Laugh Out Loud (LOL) Comedy Breakfast is an event that will keep you smiling all day! The concept was initiated by a small number of people over a business lunch and eight years on and they are still laughing! The breakfast has grown into one of Western Sydney’s largest breakfasts, attracting 600 business people and is a must on the corporate event calendar. The event falls within the Comedy Festival each year and has partnered with The Comedy Company who provide several comedians each year to give plenty of laughs over your breakfast. This is fun, unique event which raises much-needed funds for Special Olympics Australia.

    When: Tuesday 30 April 2019, 7:15am - 9:30am

    Where: ANZ Stadium, Millennium Room (Level 4), Edwin Flack Ave, Sydney Olympic Park NSW 2127

    Tickets: Corporate Table of 10 - $800 | Individual - $85. Click here to book 

    Dress: Business Attire

    Sponsorship opportunities are still available for this event. Click here to find out more. 

  • 04-Mar-2019 12:48 | Julie Falzon (Administrator)

    By William Buck

    Following on from part one where we discussed the importance of knowing how your brand performs online, this month we look at the magic of integrating your digital tools and the real benefits for your business.

    Providing a seamless online experience will make a difference. Creating an integrated journey between your social channels will be more powerful than using the channels separately. A multi-channel strategy which leverages a variety of platforms is more likely to drive users towards a specific ‘call-to-action’ and collect insights that help you qualify the ROI for different campaigns.

    According to the latest Making Western Sydney Greater results, the top three industries using social media are – Hospitality & Tourism (92%), Professional Services (91%) and Education (89%). For some industries they’re barely active on social media while others are benefiting from digital tools such as LinkedIn’s website demographic to reach their audience. Social media can initially appear more suited to a B2C scenario, or more personal/individual buying situations, however, it’s reported that B2B ecommerce sales are expected to outgrow B2C ecommerce sales by 2020, according to the latest HubSpot marketing statistics.

    The latest report identified manufacturers as one of the industries with the lowest social media usage, sitting at 46%, followed by Transport & Distribution at 33%. This is expected to shift with many B2Bs realising the benefits of digital channels to educate customers, boost brand awareness and enhance relationships. With the average B2B company on 6 social media networks, those that don’t embrace it will find themselves falling behind their social media savvy competitors.

    With mobile social usage on the rise (2.9 billion users worldwide and increasing), you can make use of in-app messaging, geo-targeting and other opportunities to connect with your audience. Today's buyer wants to be able to use different services and various channels to interact with businesses. Social media has affected the customer experience and regardless of which channel they use, they want to be able to access information easily and fast. Online digital tools are playing a key role in communicating with customers with 11 out of 50 of the fastest-growing B2B companies are using a live chat widget to provide responses quickly on their website (Drift).

    Before you start using social media, the most important step is to know which platforms most appeal to your target market and support your digital marketing KPIs and optimise conversions. Focus on two to three channels that will have the strongest impact and that are the best fit for your brand and message. Here’s a snapshot of a few social media platforms:

    • Facebook – Good for targeting baby boomers and generations X and Y. Great channel for reach, engagement and driving traffic to a website.
    • Instagram – Highly visual channel, popular for using ‘influencers’ to promote products and services to drive brand awareness and build relationships. More suited to lifestyle industries such as design, fashion, food or beauty.
    • YouTube – Great for a wide range of industries, video content is becoming a leading channel to advertise and communicate your brand story. Over 85% of businesses now have staff and resources to produce in-house videos with High Tech and Manufacturers publishing the most new videos.
    • LinkedIn – A network hub to access people, jobs, news, industry updates and insights. Mostly used to connect with professionals and share educational content. Primed for B2B, it’s the best channel for targeted campaigns based on industry or job role.
    • Twitter – A broadcast channel designed to communicate real-time updates to a global audience. A great way to engage in conversations about a topic or connect with industry leaders. A common channel for expressing positive and negative views.

    What’s holding businesses back?

    Although business owners understand that digital marketing can provide a range of benefits, many highlighted that they don’t have a defined strategy and are not effectively measuring ROI. Developing a digital strategy, choosing the right technology and platforms and having the expertise to make it work can require skills that sit outside the core competencies of most business owners. Lack of resourcing and in-house capabilities were the main reasons behind businesses feeling that they don’t have a strong social media presence. Large Businesses had a more positive result position on ROI reporting, reporting (45 % compared to 18% for SME Businesses), but given they have access to a broader workforce they may have the staff with the skills to manage these activities.

    Navigating your way through the digital marketing landscape isn’t easy, especially if digital isn’t in your background. With technology advancements and buyer expectations for fast and easy connectivity, most businesses and industries are quickly realising that social media is no longer optional – it’s now an important part of the overall business development strategy.

    When it comes to building a high converting digital marketing strategy, there’s no one-size-fits-all. You need to select the right metrics for your goals and prioritise the platforms that work best for your business and your audience.

    Making Western Sydney Greater is a collaborative project between William Buck, St George, Western Sydney University, and Western Sydney Business Connection. Analysing the experiences of business owners and managers in Western Sydney helps us to identify the important issues and priorities for businesses and drive positive change in the region.

    Access the latest report to find out more about the benefits and obstacles of strong digital marketing strategy, the impact of better connectivity and new transport networks, and the growth and employment outlook for businesses in Western Sydney.

    Quick facts – digital in Australia:

    • Over 21 million internet users, 17 million active social media users and over 19 million mobile users
    • An average of 5 hours and 34 minutes is spent on the internet every day and approximately 1 hour and 39 minutes on social media
    • Based on the average monthly traffic, the top websites are Google, YouTube and Facebook
    • The most active social media platforms are Facebook, YouTube and Instagram



  • 26-Feb-2019 13:02 | Tracy Dawson (Administrator)

    By Michael Page

    Transformational projects in Western Sydney will see continued activities this year, as a new industry report identifies three key hiring themes in construction.

    The Michael Page “Salary Benchmark Report 2019”, revealed a shortage of specialised local talent in client side project management, making it very competitive to obtain good candidates.

    In addition, the report found project managers with 5 to 10 years post-grad experience were the highest in demand.

    Companies are also seeking professionals with business development abilities in addition to technical skillsets, the report said.

    “For PageGroup, there is a new focus on the blue collar sector: with the country at close to full employment in the labour market, the labourer hiring and blue collar end of the market is certainly expected to outstrip supply in 2019,” Michael Page Australia Regional Managing Director Matthew Gribble revealed.

    “From a geographic perspective, terrific growth in Western Sydney has been observed and that will continue.”

    Two major Western Sydney developments – Sydney’s second airport and the much anticipated cage-free zoo – have also made a point of engaging younger generations.

    Western Sydney Airport will bring strong economic transformation to the region, with completion marked for December 2026.

    Western Sydney Airport chief executive Graham Millett announced two major opportunities: giving university students studying or living in Western Sydney the chance to team with leading airport design firms competing for the change to design the airport’s terminal.

    “We want to have the creative minds of our best and brightest young people help inform the design of the terminal, which will be a legacy for their generation, Millett said.

    “The path to Western Sydney Airport’s opening will be full of learning and employment opportunities for the region’s young people.”

    In addition, a partnership between Western Sydney Airport and Liverpool Council will see Year 5 and 6 students in the region be invited to design the airport using the popular digital building game, Minecraft.

    Meanwhile, Sydney Zoo ran an animal-themed colouring competition for kids where the winning designs will be used as wraps for its Suzuki Ignis vehicles.

    While it previously suffered building delays, those driving along the Great Western Highway passing Western Sydney Parklands can clearly see the construction activities and infrastructure at near completion.

    There’s been huge build-up of anticipation for the $45 million zoo, as its world-class design will see animals roaming cage-free, similar to a safari experience, across 16.5-hectares.

    The zoo is scheduled to open mid-2019.

    To find out more about construction roles or what’s happening in construction from a hiring front, contact us.

    For a copy of our Salary Benchmark Report 2019, download it here.

    RELATED: Embracing the Western Sydney dream: What businesses need to know


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