June 2024 - Bay of Plenty Business News

JUNE 2024 VOLUME 8: ISSUE 6
WWW.BOPBUSINESSNEWS.CO.NZ
FACEBOOK.COM/BAYOFPLENTYBUSINESSNEWS
TALL POPPIES BLOOM
Reimagining the real estate experience
for all
Page 11
DECOMMISSIONING
Anne Tolley acknowledges the
business community
Page 5
ULTRA HIGH PERFORMANCE
Freddie Bennett dreams BIG
Page 15
CULTURE
> SPECIAL FOCUS
WEALTH
BUILDERS
2024
Investment specialists share their
views on the 2024 investment
landscape and explain why their
offerings may best suit those
investors looking to build wealth.
Pages 6-9
SERVICE RECOGNISED
> MAGAZINE LAUNCH
There really is PLENTY
to write home about
Page 15
PEOPLE
> NEW APPOINTMENTS
Celebrating business
movers
Page 14
Te Whare Wānanga o Awanuiārangi
(Awanuiārangi) has awarded a Distinguished
Fellowship in Education to
Adrienne von Tunzelmann at its annual graduation
ceremony at Te Mānuka Tūtahi marae
in Whakatane on 10 May.
In front of more than 220 graduands, their
whanau and supporters, Awanuiārangi Council
and staff, as well as notable guests, Adrienne
was conferred the Distinguished Fellowship
in Education by Council chairperson, the
Hon. Justice Layne Harvey, and Distinguished
Professor Linda Tuhiwai Smith.
Justice Layne Harvey said that
Awanuiārangi is honoured to acknowledge
Adrienne and celebrate her lifetime of
achievement through this award.
“Over many years of public and governance
service, Adrienne’s contribution to
community development has been significant
and we congratulate her on this well-deserved
recognition.
“Adrienne was a long serving and well-respected
member of Te Mana Whakahaere
o Awanuiārangi (the Council of Te Whāre
Wānanga o Awanuiārangi) from 2005 to 2019,
providing important community perspectives
and governance experience. Since 2019, she
has been a highly valued independent adviser
> Continued on page 5
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June 2024 BAY OF PLENTY BUSINESS NEWS 3
Vital community support for
House of Science
The success of House of Science is a testament to the power of
community support. Sponsors’ and volunteers’ time and resources
have helped this charitable trust grow from its Western Bay of Plenty
roots and spread its impact throughout the country.
House of Science was born
out of a need to address
the alarming trend of students
entering secondary school
with little to no exposure to
science.
House of Science NZ is led by
Chris Duggan and her dedicated
local team, provide science kits
to 43 primary and intermediate
schools in Tauranga and Western
Bay of Plenty.
By equipping primary and
intermediate schools with science
resources, creating hands-on
learning opportunities that
enhance children’s scientific literacy,
House of Science exposes
them to a wide range of learning
and career paths.
Currently, the kits cover 42 scientific
topics and can be booked
like a library system.
The schools’ membership fee
covers ten per cent of the cost to
deliver the service; the remainder
is through local individuals and
corporate sponsors who sponsor
a kit of their choice.
Each science kit is a comprehensive
resource, including a
teacher manual with all necessary
background information,
equipment, and instructions. It is
delivered to schools fortnightly,
used by students under the guidance
of their teachers, and then
collected for cleaning and replenishment
by dedicated volunteers
at the branch base.
House of Science Business
Development Manager Sandra
Kirikiri acknowledges the
immense support from the Tauranga
and Western Bay communities,
emphasising the crucial role
they play in their operations.
“Our kits program are a way
to ensure the next generation
is exposed to high-quality and
diverse areas of science. By
removing the barriers to learning
science, we aim to see more
students return to the area for
Simon Ellis of Rotary Club Te Papa
restocks part of a House of Science Kit.
jobs in areas such as horticulture,
agriculture, engineering, or
marine science,” says Kirikiri.
Rotary Club Te Papa is one of
the top volunteer groups in Tauranga
and Western Bay of Plenty’s
House of Science branch.
Simon Ellis says the Rotary
Club of Te Papa thinks literacy,
numeracy and science are vital
and having these kits in schools is
extremely beneficial.
“We have rosters of volunteers
to check and replenish the
kits each fortnight,” says Ellis,
“We do deliveries and collections,
and there is nothing better than
having the kids run up to you to
see what kit you’re bringing into
school.”
“They really fall in love with
science through these kits, as it
shows them science isn’t just for
the brainy kids and it often ignites
an unknown passion. These kits
should be everywhere.”
House of Science has flourished
over the last decade. The
efficient system ensures that each
member school, with an average
of 249 students, benefits from a
House of Science Kit, usually used
by three teachers and 73 students
each time it’s booked.
TECT recently funded $30,000
towards the operating costs of
House of Science’s Western Bay of
Plenty branch.
House of Science started
in Tauranga and now has 20
branches around the country
with 700+ member schools. This
equates to a third of all primary,
intermediate and Kura Kaupapa
schools in New Zealand being
exposed to key science experiences
and development. The kits
are also available in te reo Māori.
Every year, the social return
on investment is for every
dollar invested into the programme,
it delivers $10.20 of
measurable good to New Zealand
through increases in academic
achievements, improved mental
health and increased STEM
achievements.
These kits are building a stronger
future for local children and
can only do as much as the limited
number of kits allow. House
of Science aim to be in every
school across the region and the
country to continue benefiting
future generations.
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4 BAY OF PLENTY BUSINESS NEWS June 2024
CONTACT INFORMATION
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and Taupo, and to a subscription base.
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> THE PORTER REPORT
A monthly update on the business
world from leading writer David Porter
Learning from the past
> By DAVID PORTER
strong presentation during to apply, we had a total of
his election campaign was eight candidates for mayor
There has been a groundswell
of support from
tive at securing agreement dates for election to the var-
quickly proven to be ineffec-
and more than 40 candi-
potential candidates as
amongst the councillors. ious districts. That suggests a
Tauranga gets ready for its
first democratic city council
election since 2019. Then the
entire council was sacked
after the abrupt resignation
of new mayor Tenby Powell.
The replacement of the
council by four election commissioners
was by no means
popular, despite the wrangling
and disaffection shown
by the ousted council.
The flood of candidates
David Porter
carry out its duties. Her suggestion
was quickly rejected.
More to the point, the commissioners
obviously were
not obliged to go through
the enormous checks and
balances provided by a large
group of councillors who
could be for or against any
proposal.
We should be grateful to
the current council bureaucracy,
which has provided an
easily accessible list of potential
candidates, together with
pent-up demand for a return
to a more democratic election
process.
Amongst the mayoral candidates,
Mahe Drysdale, an
elite rower and descendant
of a former mayor, as well
as Maori recording artist Ria
Hall, had become front runners.
But that was early days
and there are now a number
of candidates for the office.
Interestingly, but not surprisingly,
the council candi-
suggests that there is a considerable
appetite for a return to
their email and/or phone
What is coming?
contacts. Bluntly, there is no date list includes a number
democratic elections in Tauranga,
excuse for not quizzing the of faces from the ousted
despite – or as a result
of – the experience of living
with commissioners.
And lead commissioner,
and former BOP News Business
columnist Anne Tolley
undoubtedly did herself and
her colleagues few favours by
suggesting that some of the
commissioners should stay
on in an advisory position to
“help” the soon to be elected
So what are we to make of the
new council elections, scheduled
for July?
First, let us acknowledge
that in many sections of the
community the commissioners
were welcomed as at least
getting things done, rather
than seemingly being in a
state of constant conflict with
each other.
And Powell, despite his
candidates about what they
are offering.
Arguably, the key roles
that any mayor must play in
a local body are to both provide
leadership and to balance
that with the ability to
secure consensus amongst
a majority of councillors for
the hoped for advancement
of the community.
Interestingly, as of writing
council. Some of them, no
doubt, wish to make it clear
that the installation of the
commissioners was a mistake
and that they can do better. It
remains to be seen whether
this is the case.
I would urge all electors
to read about and wherever
possible question the motives
and intentions of all candidates
for office in Tauranga
new council understand and military background and on the last day for candidates whose actions may affect you.
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June 2024 BAY OF PLENTY BUSINESS NEWS 5
Thank you for your support!
The Tauranga City Council Commissioners
would like to take this opportunity to thank
the business community for the strong
support businesspeople have provided for the
many initiatives the Council has progressed
under our governance.
> By ANNE TOLLEY, TAURANGA COMMISSION CHAIR
Millions
700
600
500
400
300
200
Capital Expenditure*
We appreciate that there
has been a significant
cost involved for
city businesses as a result of the
changes made to commercial rates
differentials (which will continue
for some businesses with the forthcoming
introduction of
an industrial rate
for the 2024/25
year) and we are
sincerely grateful
that the commercial
sector
has taken such a
farsighted stance
with regard to the
moves we have
overseen to
catch-up
Anne
Tolley
on some long-overdue investments
in infrastructure and community
facilities.
The message we have received
is that the sector is not only supportive
of investment which will
address the city’s severe housing
deficit, road congestion issues
and the facilities we need to make
Tauranga a better place to live, but
is prepared to pay its fair share of
the costs involved, providing that
clear benefits will be delivered
for the wider community.
The long-term plans adopted
during the Commission’s tenure
each set-out a clear action
and investment plan to address
the city’s needs, while carefully
considering the financial cost,
both for the organisation and for
ratepayers. We think we have
got the right balance of priorities
and it was encouraging to
see the response to the Tauranga
Business Chamber’s survey last
month, which showed strong support
for maintaining the Council’s
100
-
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034
Spend - before Commission Spend - Commission joined 9 Feb 2021 Spend - with Commission Forecast - with Commission LTP Programme
* Excludes *excludes vested vested assets assets and land sales, land includes sales, includes operational operational projects of projects a capital of nature. a capital Values nature are expressed in dollars of the day.
current strategic and investment
direction.
As an aside which speaks to
the business sector’s desire to see
progress being made, the following
graph provides an interesting
insight into Council investment
in the city, with a noticeable
increase in capital expenditure
over the past three years.
Also as an interesting aside,
city partners and Council celebrated
the progress the city has
made, and is making, at a function
in early-May. There was a
lot of commentary from those
attending about the current and
planned investment in Tauranga,
with a clear indicator being the
seven cranes that are now dotted
around the city centre – far more
than anyone could remember seeing
before and confirmation that
the more than $2 billion being
invested by private and public
interests will bring the revitalisation
this area so badly needs.
This was a particularly positive
event and it was heartening
to get some great feedback that
the Council’s commitment to Te
Manawataki o Te Papa – the redevelopment
of the civic Precinct –
is continuing to instil investment
confidence in the private sector.
This will be my last Bay of
Plenty Business News column as
Commission Chair, because our
role will become largely ceremonial
after the last Council meeting
of our tenure on 10 June. That
being the case, I would also like
to thank the Bay of Plenty Business
News and its publishers
for providing the opportunity to
communicate so directly with
the business sector on the many
issues of importance over the last
three-and-a-half years.
Best wishes to all of you for
a successful and professionally
rewarding future. Remember
that the elected council which
will lead the community through
the next four years will depend
on the community’s input – so
make sure you vote and make
sure you tell everyone you know
to vote as well. We have a great
city – let’s make it even greater, a
place we can all be proud of and
that future generations will want
to live, work, learn and play in.
AWANUIARANGI AWARDS DISTINGUISHED
FELLOWSHIP TO ADRIENNE VON TUNZELMANN
Adrienne von
Tunzelmann
> Continued from page 1
to Te Mana Whakahaere, and
continues to serve on the Finance,
Audit and Risk Committee and the
Joint Board with Te Puna Ora o
Mataatua.
“On behalf of the Council, I
would like to thank Adrienne
for her almost 20-year service to
Awanuiārangi. It’s particularly
fitting that we acknowledge the
important role she has played
in shaping this institution as we
send off our latest cohort of graduates
with best wishes for the
next steps in their journeys.”
Upon receiving her award,
Adrienne said that it has been a
tremendous privilege to support
and serve the Wānanga.
“I am proud to have received
this honour from such a prestigious
institute of indigenous educational
and academic excellence.
“Being of service to the
Wānanga has been a privilege
and a joy. I have gained far more
than I could possibly give, and I
am most certainly the richer for
the opportunities offered me by
my roles with the Awanuiārangi
Council.
“One of my greatest rewards
has been working alongside people
passionately committed to
scholarship, to advancing the
interests of Māori and to the success
of all their students. This is
something I will always cherish.”

6 BAY OF PLENTY BUSINESS NEWS June 2024
Think globally
when it comes
to investing
WEALTH BUILDERS 2024
By Simon Bradley, Wealth Management Adviser
at Jarden in Tauranga.
As humans we tend to stick to what
we know. We like the familiarity of
products and brands that we trust
and feel comfortable with. When it comes
to investing, people exhibit behaviour
that is no different.
’Home country bias’ refers to the
unconscious behavioural instinct that
results in investors overweighting asset
allocation to their local region. This bias
means investors can be exposed to high
geographical concentration risk and
potentially rely on a small subset of companies
to generate their returns.
Let’s take New Zealand as an example.
In our equity market, the largest 10 companies
make up over 60% of the listed
market in terms of size. Compare this to
the MSCI All Country World Index (ACWI),
and the top 10 stocks make up approximately
18%.
For New Zealand retail investors, home
country bias is real. According to a Morningstar
KiwiSaver report published in
2023, the average KiwiSaver investor has
37% of their assets exposed locally, and
63% internationally. Compare that to the
NZ Super Fund which has 15% of its assets
exposed to New Zealand versus 85% of
assets invested offshore.
New Zealand has traditionally been a
market where companies pay their shareholders
a healthy share of profits in the
form of dividends. In 2023, when interest
rates moved sharply higher globally,
New Zealand became less attractive to
foreign investors who could get returns
of 5% or more from investing in US government
bonds. As a result, the New Zealand
equity market experienced heavy
foreign outflows as those investors sought
returns closer to home with less perceived
risk-taking.
There are of course two sides to every
argument. Investing globally isn’t without
risks.
In buying offshore shares, you are
introducing currency risk as well as
increasing the geopolitical risk you are
exposing your investments to.
While a strong New Zealand dollar is
good when buying offshore shares, it will
diminish offshore returns when repatriating
your investment back into New
Zealand dollars. It’s very difficult to successfully
predict the international flows
of capital and currency movements. It
is however possible to buy New Zealand
dollar hedged funds to help mitigate this
currency risk.
Offshore investing can also increase
the tax complexity of an investor’s portfolio.
It’s important to seek tax advice when
you are considering making offshore
investments.
As New Zealanders, we are patriotic
people who are famed for our ingenuity
and ability to think outside the box. There
is perhaps a sense from local investors
that we desire our best and brightest companies
to perform on the global stage and
by investing capital into those companies,
that we’re along for the ride.
Whilst it feels comfortable to invest in
companies well known to us as New Zealanders,
it’s a big wide world out there and
Whilst it feels
comfortable to
invest in companies well
known to us as New
Zealanders, it’s a big wide
world out there and
limiting yourself to only
investing in New Zealand
can also limit expected
returns.”
limiting yourself to only investing in New
Zealand can also limit expected returns.
To take the example of the NASDAQ
Simon Bradley,
Jarden Wealth
Management Adviser
100, the US stock exchange where most of
the world’s technology giants are listed,
over the past 5 years the NASDAQ 100
index has delivered a total return of 160%
whereas the NZX 50 Index has returned
just 15%.
As history has taught us, markets do
inevitably get derailed by geopolitical
events, terrorism, and pandemics. These
types of events can prompt investors
to question their investment strategy.
Rather than reacting to market movements,
any changes to your investment
strategy should typically only be made as
a result of changes to your own personal
circumstances.
A well-balanced diversified portfolio
not only invests across different asset
classes but also places importance on
where those assets are listed and what
geographical exposure they have.
Disclaimer:
This research has been prepared by Jarden Wealth Limited (Jarden) which holds a licence issued by the Financial Markets Authority to provide a financial advice service. The information in this research solely relates to the
companies and investment opportunities specified within. The nature and scope of any financial advice included within that research is limited to generic and non-personalised commentary about that investment only, such as the
performance and the investment outlook of the company concerned. Any such commentary does not take into account any individual’s particular financial situation, objectives, goals or appetite for risk. We recommend that you seek
financial advice that is specific to your personal circumstances before making any investment decision or taking any action. No fees, expenses, or other amounts will be payable for the provision of any financial advice in this research
report. However, if you act on any information or advice contained in this research report, a brokerage fee (and other fees such as an administration and custody fee) may be payable to Jarden. For fees payable for brokerage and
other services provided by Jarden, information on our complaints and dispute resolution process, and the duties applicable to us for providing financial advice, please see our publicly available disclosure statement, https://www.
jarden.co.nz/our-services/wealth-management/financial-advice-provider-disclosure-statement/.
Strong investment decisions
built on trust
Our local wealth management experts Sarah and Simon, will work
with you to guide you toward your long term financial goals.
Contact us
Sarah Ashby: +64 27 211 0760
Simon Bradley: +64 27 427 3899
www.jarden.co.nz/wealth-management
Jarden Wealth Limited is a NZX Advisory Firm. Jarden Financial Advice Provider Disclosure statement is publicly
available at www.Jarden.co.nz.Jarden is not a registered bank in New Zealand.

WEALTH BUILDERS 2024
June 2024 BAY OF PLENTY BUSINESS NEWS 7
How to protect
and grow
your nest egg
While it’s known that investing is a great way to get ahead, when
you’re considering investing, it can feel like there are too many
options to choose from… so much so that it can seem overwhelming.
Do you opt for a conservative bank
term deposit knowing that your
nest egg can be locked away for an
extended period, do you invest in shares
to try and time the market, or is an investment
in property the answer, despite the
current high interest rates for borrowing
and the tenancy challenges it may
present?
Not only can it be hard to choose the
right option, but the entire investment
industry can seem full of complicated jargon,
with many options requiring skills,
data, time, and expertise. To top it off,
some companies require you to have a
huge lump sum before you can even get
started and then they lock up your money,
making it difficult to access funds when
you need them.
If you’ve got a nest egg and are looking
for investment options, then First Mortgage
Trust (FMT) could be for you.
WHY MORE THAN
6,500 INVESTORS
CHOOSE FMT:
Easy to understand
FMT’s investment model pools your funds
with those of others, with FMT actively
managing the fund to ensure it works
hard for you without undue risk. They do
this primarily by providing loans to NZ
property owners seeking finance on a first
mortgage basis. Income is derived from
these loans and distributed or reinvested
quarterly (after fees, expenses, and tax
are deducted) based on your preference.
Consistent and steady
returns
FMT is renowned for protecting capital
and providing consistent, steady returns.
The Risk Indicator rating at FMT is 1 (on
a scale from 1 to 7), indicating a low level
of risk with stable returns. It’s important
to note that no investment is completely
risk-free. The Risk Indicator is a tool
introduced by the Government to assist
investors in understanding the volatility
of returns from different managed funds.
FMT has earned the rating of 1 by delivering
consistent returns. They have never
lost any investor’s capital ever and while
past performance is not a reliable indicator
of future performance, FMT is proud
of its track record and committed to maintaining
it.
New Zealand owned,
operated, and focused
Living, working, and investing here
means the FMT team know the markets
and trends firsthand. Additionally, their
Paul Bendall
skilled team of experts undertake their
own research, leverage their networks,
and seek advice from industry experts as
required.
Quickly accessible funds
Unlike mainstream bank term deposits,
your money isn’t locked away for a specific
term. FMT provides a simple withdrawal
process that normally makes your
funds available within a few days.
Friendly and personable
At FMT, they operate an 0800 number with
‘real people’ who can provide the answers
you need, when you need them.
Trusted by thousands of
New Zealanders
Some investors have been with them since
they started in 1996 and testify to investment
returns that continue to please.
Simple to get started and
easy to maintain
It’s simple to get started, and you only need
a minimum requirement of $500 to get
underway. Thereafter, minimum top-up
investments of $100 (or more) can be made
via lump sums or as regular contributions
to suit you and your investment goals.
CEO Paul Bendall says, “We strive to
provide peace of mind in investing. We
want our investors to feel reassured that
their money is in steady hands.
“We know these are uncertain times,
and people are cautious, especially when
it comes to investing and deciding what to
do with their nest egg and savings. Living
costs and inflation are high, which can
be hard for savers. We understand this,
and that’s why we are pleased to have
delivered consistent investment returns.
Because of our track record and the peace
of mind we provide, many of our investors
invest more with us and recommend
us to their friends and family.”
To learn more about investing with
FMT, visit fmt.co.nz or give their friendly
team a call on 0800 321 113.
First Mortgage Managers Limited is the issuer of the
First Mortgage Trust Group Investment Fund and the
First Mortgage PIE Trust and is not a registered bank
under the Banking (Prudential Supervision) Act 1989.
Past performance is not a reliable indicator of future
performance. Returns are not guaranteed. The Product
Disclosure Statements are available at fmt.co.nz
7 .29
% p.a.

8 BAY OF PLENTY BUSINESS NEWS June 2024
PROPERTY INVESTMENT:
WEALTH BUILDERS 2024
Opportunities abound for
growing wealth in 2024
Property Brokers’ regional manager for the Bay of Plenty and
South Waikato, Simon Short, believes this is very much a time
for investors to look to property for wealth building.
market is showing positive signs
of rebound and there will be an
“The
increase in that activity as the year
progresses,” he predicts. “Our markets are
always influenced by simple economics,
supply and demand; with the availability
of funding and increased lending appetite
expected to rise as 2025 draws closer we
believe there will be a momentum shift
toward real estate investment in all sectors.”
Simon suggested we talk to his team to
get a sense of the market from his specialists
on the ground. We spoke to three of his
team members who specialise in commercial,
industrial, agriculture and horticulture
property investment.
RICH GRAHAM
Sales consultant Rich Graham says commercial
real estate (CRE) can be a very
lucrative investment offering numerous
benefits to investors.
Diversification is a key benefit – commercial
real estate offers a unique risk
profile that can help mitigate volatility
in other investments, such as stocks and
bonds. You can also invest across various
sectors, such as office, retail, or industrial,
each with different risks and returns.
Commercial properties often have longer
lease agreements than residential
properties, providing a more stable and
predictable income stream. This can be
particularly appealing for investors seeking
regular cash flow. He also points out
the potential for appreciation – over time,
commercial properties can appreciate in
value, which can significantly enhance
one’s net worth. There are also tax benefits
for CRE investors.
Commercial leases often include rent
escalations tied to inflation, which means
the income from these properties can keep
pace with the rising cost of living, protecting
your purchasing power.
To get started, you’ll need to conduct
market research and financial analysis,
establish funding options, conduct due diligence,
and seek professional advice.
“You’ll need to consider risks such as
market fluctuations, property management
obligations, and liquidity requirements,”
says Rich.
In conclusion, he believes investing in
commercial property can be a powerful
way to grow wealth, provided you conduct
thorough research, understand the risks,
and manage your investments wisely.
PHILIP HUNT
Philip Hunt, the company’s commercial
and industrial consultant in Tauranga’s
fast-growing Tauriko industrial area, is adamant
that industrial remains the sector’s
darling. He says there’s still huge interest
from large tenants wanting to be located in
Tauriko. However, he has noticed a slowing
in their making of commitments due to
current economic conditions.
Enquiries remain very strong, as evidenced
by the increase in the size of his
Tauriko-based team to four. “Businesses
are still desperate to locate to Tauriko, particularly
now the roading and infrastructure
are well in place,” he says.
He notes that stock levels are good, so
there are options available for businesses,
big or small. But he warns that the days of
large annual rent increases are gone for
the moment. His advice to landlords now:
“Love your tenants and look after them.
Wise landlords are doing all they can to
retain their tenants,” he suggests.
Philip’s team estimates that well over
50% of their business activity at Tauriko is
directly or indirectly Port-related. He continues
to praise the Port of Tauranga for its
foresight.
Simon Short, Regional Manager – Property
Brokers Bay of Plenty and South Waikato
Philip Hunt, Commercial and Industrial
Sales, Property Brokers
IAN MORGAN
Ian Morgan, Rural Manager, Property
Brokers Bay of Plenty/Northland
Rich Graham, Sales Consultant, Property
Brokers
According to Property Brokers’ Ian Morgan,
the agricultural sector is experiencing
a notable decline in quality produce worldwide,
making it an attractive proposition
for investors. However, experts caution
that rural property investment is a longterm
endeavour.
“It is always about timing, and presently,
the agri sector looks very attractive
with quality produce diminishing globally.
But rural is a long game, and the investor
needs to be clear about this.”
However, investors must be aware of
the immediate challenges associated with
rural investments. In addition to weather-related
challenges, market volatility and
fluctuating commodity prices add another
layer of complexity to the investment landscape.
Looking beyond the immediate hurdles,
the agri sector is poised for substantial
future growth. “Opportunities will be
plenty, and the agri sector is well poised to
deliver results in the future,” he affirms.
Ian advises investors to adopt strategic
approaches, such as spreading investments
across various crops and regions,
embracing sustainable farming practices
and leveraging advances in agricultural
technology.
With the right timing and a focus on
sustainability and innovation, rural investments
can yield significant long-term benefits.
For investors ready to embrace the
long game, the rural property market
offers a promising horizon filled with
potential growth and profitability.
Property Brokers has a wealth of
specialist knowledge and offers fullservice
real estate across residential, commercial/industrial/rural
and property
management.
Plenty of PB in BOP
Plenty of
experience
Plenty of
locations
Plenty of
people
REINZ
Plenty of
awards
Our family business has provided
clients with full-service real estate
solutions for over 37 years.
We have seven offices throughout the
Bay of Plenty and are proud to call a
further 90 regional locations home.
Our specialist team of more than 900
strong work together to get you the
very best result because you deserve
nothing less.
Over the years, we've received
over twenty REINZ awards and are
consistently in the top 1% of agencies
year after year.
Whether you’re looking to sell your property, buy a new one or join our exceptional team, get in
touch - we’d love to be a part of your next step. Call us on 0800 367 5263 or visit pb.co.nz
Property Brokers Ltd Licensed REAA 2008 | Q011233

WEALTH BUILDERS 2024
Two golden rules
of investing
Jaimee Thomsen and Rohan Graaff are Investment
Advisers with Craigs Investment Partners. They share
two golden investment rules and their view on the
role of a good financial adviser.
Jaimee Thomsen
Investment Adviser
Rohan Graaff
Investment Adviser
hange is the only constant in
life. As a result of changes in
your personal situation and
challenges faced, the needs and reliance
on your money will evolve over time.
Life doesn’t move in a straight line, so it
pays to have sound financial objectives
and a good financial adviser to help you
move towards your end goal. When
investing we believe there are two
important rules to always keep in mind.
Following these should set you up well
to succeed.
1. Any good adviser will advise
you to diversify.
A fundamental rule of investing is not
putting all your eggs in one basket.
It’s the simplest yet most effective
way to insulate against risk and help
investors weather any storms. This
means looking at all your investment
assets and your exposure to risk in each
of them. Diversification could mean
looking at a combination of cash, bonds,
equities as well as listed and unlisted
funds, to get the right blend of assets for
each investor’s portfolio, says Craigs
Investment Adviser Jaimee Thomsen.
It’s an individual
decision and one
that we work closely with
our clients to determine
the right balance. New
Zealanders are traditionally
very exposed to the
property market and as
recent times have shown,
any asset can experience
fluctuations in value. It’s
crucial to spread your risk
and cover your bases,
rather than being too
concentrated in one
particular asset.
2. Have a good investment strategy
and stick to it.
As Craigs Investment Adviser Rohan
Graaff explains, this second rule might
sound simple, but it can be much harder
to follow in practice.
“Setting a strategy involves more
than choosing a diversified portfolio of
investments. It’s a plan of action tailored
to the individual for the good times
and hard times. It’s a consistent and
disciplined approach which manages
risk, focuses on the determined time
horizon, ensures that investments are
suitably diversified, and adapts to
market changes over time.”
It’s a fairly common
misconception, but
the role of a good adviser
is not to try and predict the
path of financial markets.
It’s about constructing
your portfolio in a way that
grows your wealth based
on your goals, needs and
risk appetite and is sturdy
enough to withstand
changing market
conditions.
“As investment advisers we often act as
gatekeepers to protect against irrational
ideas or trades resulting from short-term
market fluctuations to help you stay
on course and keep your investment
portfolio aligned with your plan,
regardless of what is going on around
you. Some see us as their money coach,
an educator or a business partner.”
Craigs Investment Partners is one of
New Zealand’s largest investment
advisory firms, with over 180 qualified
Investment Advisers across 19 branches
in New Zealand. Jaimee Thomsen and
Rohan Graaff are Investment Advisers
at Craigs Investment Partners Tauranga
branch. Contact Jaimee or Rohan for all
your investment needs to help navigate
current market conditions.
Jaimee Thomsen
P 07 927 7978
E jaimee.thomsen@craigsip.com
Rohan Graaff
P 07 927 7865
E rohan.graaff@craigsip.com
CRAIGSIP.COM
Craigs Investment Partners Limited is a NZX Participant firm. Jaimee and Rohan’s Adviser disclosure statements are available
on request and free of charge. The Craigs Investment Partners Limited Financial Advice Provider Disclosure Statement can be
viewed at craigsip.com/tcs. Please visit craigsip.com for more information.
Personalwealthcallsfor
personaladvice.
Talk to us today for all your investment needs.
TAURANGA BRANCH
P 07 577 6049 E tauranga@craigsip.com CRAIGSIP.COM
Craigs Investment Partners Limited is a NZX Participant firm. The Craigs Investment Partners
Limited Financial Advice Provider Disclosure Statement can be viewed at craigsip.com/tcs.

10 BAY OF PLENTY BUSINESS NEWS June 2024
Has the gloss gone from EVs?
Electric vehicles (EVs),
including hybrids and
plug-in hybrids, had a
favourable financial treatment
up until 1 April 2024. The clean
car discount which was in place
until 31 December 2023, and no
road user charges (RUCs) before
1 April 2024, contributed to a sustained
increase in the number
of EVs on our roads over the last
three years.
However, their attraction from
a financial perspective has now
been reduced, which is reflected
in the statistics from the March
quarter of 2024 which show a
flattening of the number of EVs
on our roads after the previous
sustained growth. (See graph)
For context, it is worth noting
that as at 31 March 2024 , there
are 5,781,885 registered vehicles
in New Zealand, of which
3,634,925 are passenger cars/
vans.
Introduction of road
user charges for EVs
The RUC system was introduced
in 1977 to help governments with
paying for the cost of maintaining
our roads. While petrol vehicles
have a fuel tax levied at the
pump, diesel has uses beyond
public roads and therefore it is
not appropriate to levy a roading
tax at the point of purchase. The
RUC system traditionally has
TAXATION
BY ANDREA SCATCHARD
applied to diesel vehicles and is
levied based on distance travelled
and vehicle type.
Initially, electric vehicles were
exempted from paying RUCs as a
way of encouraging the purchase
of EVs in preference to new petrol
or diesel vehicles. It was always
intended that once the number
of EVs reached 2% of the total
light vehicle fleet, RUCs would be
imposed on EVs. This target has
now been met and thus the Government
has discontinued the
RUC exemption.
From 1 April 2024, fully electric
vehicles are required to pay RUC
of $76 per 1,000km and plug-in
hybrids will pay at the rate of $38
per 1,000km (the lower amount
reflects that some fuel excise duty
is paid when petrol is purchased).
There is no doubt that this will
increase the cost of running an
EV. If the EV is a business vehicle,
the extra costs should be a deductible
expense (but may need to be
apportioned for private use if the
owner is a sole trader or for some
small private companies).
Impact on employers
If you have company EVs that are
provided to employees that are
subject to FBT, nothing changes at
this point – the same formula for
calculating the FBT still applies.
If you are reimbursing
employees that use their own
EVs for work travel, and use the
Inland Revenue mileage rates to
calculate the amount that can be
paid tax-free, again at this stage
nothing changes – the Inland Revenue
mileage rates that were last
refreshed in May 2023 still apply:
Vehicle type
Petrol or
diesel
2023
Tier one rate Tier two rate
95 cents 34 cents
Petrol hybrid 95 cents 20 cents
Electric 95 cents 11 cents
For more information on
how the two tier reimbursement
system works, please refer to
our June 2023 Tax Alert article.
Typically, Inland Revenue
issues mileage new rates around
May/June each year, so we anticipate
some new rates being
released shortly. Remember that
for reimbursements the new
rates apply from the date that
they are released, so you should
be prepared to update systems
and possibly the amount you
reimburse to staff from that date.
The rates are intended to
reflect the cost of running the different
types of vehicles, so with
the increase in the relative cost of
running EVs, we would expect to
see much less variance between
the tier two rates in future. While
it would be a welcome taxpayer-friendly
concession, there may
not be enough of an increase in
running costs to warrant a single
tier two rate for all vehicle types.
If this all sounds quite complex,
please seek assistance from
your accountant or tax adviser.
Andrea Scatchard is a Tax Partner
at Deloitte, based in the Bay of
Plenty. She can be contacted on
ascatchard@deloitte.co.nz
Obstacles
Connect
Collaborate
Deliver
Advantage
Future-proofing your
business in a constantly
changing environment.
We’re here in the Bay of Plenty
to help businesses elevate finance
function performance and delivery.
Connect with us to find out
more about how we can help.
deloitte.co.nz
© 2024. Deloitte Limited (as trustee for the Deloitte Trading Trust).

June 2024 BAY OF PLENTY BUSINESS NEWS 11
Rebuilding after a restructure
HUMAN RESOURCES
BY KELLIE HAMLETT
Whilst restructuring
and redundancies are
never pleasant, for
many organisations they have
become necessary to survive in
such a challenging financial and
business landscape.
The ultimate goal of any
restructuring process is to make
a business more efficient, productive
and competitive.
Reflecting on the process, the
weeks leading up to a restructure
cause a significant mental
and emotional load. Businesses
often put their focus and energy
into the planning and facilitation
of conversation stages, with less
emphasis often given to the final
step of re-building teams. Re-energising
your team following a
restructure and keeping your
remaining employees engaged,
motivated and productive is critical
to the process and should
not be overlooked. We all understand
the risk around the loss of
key team members as the ‘unintended’
fallout following a process
of change. A proactive, honest
and consistent approach to
positively contribute to the team
wellbeing and culture is key.
Here are some practical tips to
help begin the process of re-engaging
and re-focusing individuals
and teams who have just been
through change:
Consistent communication
– restructuring can bring about
a complex set of emotions for
all involved. Communication is
key; have an “open door” policy
and “walk the floor” as a leader,
ensuring you are a visible and
accessible. This allows staff to
voice their concerns and ask
questions. Sharing information
regularly and consistently will
restore calm, rebuild trust and
confidence, and fill the void for
negative speculation.
Recognise reactions –
Employee feelings can range from
fear to relief. Remaining employees
may feel guilty that they were
able to keep their jobs, whilst
some may feel anger. Provide a
safe space and sufficient time for
your team to come together and
talk about the after-effects and
recognise how each individual
is feeling. Acknowledge that the
restructure was difficult but necessary
for the ongoing stability of
the organisation.
Creating clarity – Effective
leadership is critical post a
restructure. Employees may be
unsure what they are responsible
for and who they report to. Take
time to provide clarity, to reduce
role conflict and stress. Ensure
everyone is “on the same page”
and provide clarity about their
contribution to the organisational
purpose.
Rebuild trust – A mix of formal
and informal team-building
activities will all go a long
way to creating a healthy and
happy team culture. Team building
activities, social events, and
shared experiences can help to
foster camaraderie and a sense of
community.
Resilient mentoring and
leadership – Work to ensure
that your employees can trust the
company and leadership as consistent,
resilient and dependable,
along with being committed to
developing both the team and a
culture of continued excellence.
Re-address workload
demands – Often departed
employees’ responsibilities
are shared out amongst those
remaining, causing extra pressure.
Coaching, mentoring and
training is critical here to retain
your top talent. Present these
additional tasks as opportunities
for learning and growth.
If your company has had to
reduce headcount in order to
remain viable, it is key to think
about how to bring your new
team together. How you treat
your people during tough times
matters.
It’s actually the recovery and
beyond which is the most beneficial
and influential factor rather
than the process itself.
These processes are often a
necessary part of the evolution
of business – they are challenging
to go through, emotional and disruptive
for all. The key element to
rebuilding is how well you look
after your people, to recover and
grow post-restructure. This is
where the value is added and will
determine the success around
your process of change.
Talent ID are Recruitment Specialists
and can support you through your
recruitment process. Please feel
free to talk to us about this by
calling 07 349 1081 or emailing
kellie@talentid.co.nz
BUILDING A BUSINESS
ALIGNED TO VALUES
KEY TO SUCCESS
Mill re-opens
the doors to a
brighter future
Susan Northey and Janet
O’Shea have a combined 28
years of experience working
in real estate in Tauranga. As
business owners for Tall Poppy,
they are turning the tide on the
sector and reimagining the real
estate experience for all – championing
fairness and transparency
for their clients and their
growing team.
Janet launched Tall Poppy
Tauranga South agency in 2017,
while Susan bought the Tauranga
Central agency in 2018.
Having worked with other
agencies, Janet says she was
impressed with Tall Poppy’s genuine
commitment to a consumer-driven
approach.
“For me, real estate has
always been about the connections
you build with the people
you are working with, from
your clients to your fellow team
members.
“Being able to nurture a
strong team culture within real
estate is almost unheard of, but
the modern business model
offered by Tall Poppy enables
us to work alongside each other
without the fierce competition
seen in many traditional offices,”
she says.
Tall Poppy Real Estate was
launched in 2012, putting the
fairness back into real estate.
The brand had been relatively
unknown in the area when Janet
and Susan first came on board
as franchise owners, and they
say the growth they have seen
REAL ESTATE
BY JANET O’SHEA AND
SUSAN NORTHEY
in recent years speaks volumes
about the business model’s dedication
to fairness and customer
satisfaction.
Last year, Tall Poppy was
awarded Canstar Blue’s Best
Rated Real Estate Agents of 2023
- the only independently-reviewed
award as voted for by
real Kiwi consumers.
“Agencies will often talk
about their awards and achievements,
but many of these are not
based on transparency or the
opinions of real consumers – we
are proud and grateful to see
independent recognition for putting
our clients at the forefront,”
says Janet.
Susan says it was important
for her to work within a dynamic
environment that could support
real change and progress. Tall
Poppy was one of the first agencies
to implement a digital-led
approach, bucking many of the
trends within the sector, things
Susan says have seen their sustained
growth.
“The great thing is that the
model allows us to be dynamic
with our business. It means
we can make improvements
quickly, implementing positive
changes for our sellers, buyers,
and agents.
“The traditional agencies
often can’t and won’t move
as quickly, and now definitely
have more competition from a
bespoke agency like ours.”
Susan says support for the
ongoing development of her
team has been pivotal.
“I love that we can offer our
team members an amazing and
evolving induction, quality referrals
and ongoing support of their
business; we have worked hard
to ensure the continued success
of our people – something made
possible with the wider support
of the Tall Poppy team,” she says.
“For us both, it has always
been about the people – our
consumers and team alike – and
with the values of transparency
at Tall Poppy, we have the support
to build businesses aligned
with this,” says Janet.
Janet O’Shea and Susan Northey are
Principals at Tall Poppy Real Estate,
Tauranga. They can be contacted:
Janet O’Shea - 021 872 072
janet.oshea@tallpoppy.co.nz
Susan Northey - 027 576 0499
susan.northey@tallpoppy.co.nz
Upgraded operations are
well underway at Whakatane
Mill Limited’s (WML)
paperboard mill following the
businesses official grand re-opening
celebrated back in March.
The initial months of the year
were spent installing new stateof-the-art
machinery, as well as
upgrading its facilities, and since
its re-opening WML is now fully
equipped to service its local and
global customer chain with premium
quality board products.
Customers from across the
globe attended the in-person
event alongside numerous local
and government officials, such
as Minister of Manufacturing and
Small Business, Andrew Bayly
and Local MP Dana Kirkpatrick.
Representing more than
mere upgrades to facilities, over
NZD$100m worth of private funding
has been poured into the business,
ensuring the growth and
prosperity of both the mill and
the local Whakatane community
for years to come.
On the day of the grand
re-opening, guests were invited
to take a tour through the mill
to view the new machinery
upgrades which will enable WML
to produce an additional 50,000
tonnes of premium folding box
boards, along with improved
environmental and energy systems
to further embed the business’
long-term success. The
upgrade seeks to increase WML’s
total production capacity of up to
200,000 tonnes of premium folding
box board in the future. WML
is the only folding box board producer
in the Australian/New Zealand
geography.
The grand re-opening event is
a stark contrast to the uncertain
future that the business faced
only three years ago where an
unfortunate closure was looming
over WML. Since acquiring the
business, the new owners have
invested significantly in the mill’s
capabilities, committing to its successful
future and the continued
prosperity of Whakatane’s local
economy.
Executive Chairman of
Whakatane Mill Limited Ian Halliday,
conveyed the immense
pride he had in re-opening the
business, setting its course for a
fruitful future. “Looking back to
when we first acquired the mill,
and to where the business is at
now, it’s incredibly fulfilling. We
have invested heavily in upgrading
the business as we always
believed in its potential, and to
see it now come to fruition is truly
rewarding. As the largest private
employer in Whakatane, with 80
years of exporting history, we are
proud to see the mill step forth
into its next evolution.
“We want to thank our team,
commercial partners and local
contractors who helped with the
upgrade, along with our customers
who continue to partner with
us. We remain committed to further
advancements, ensuring a
bright future for our business and
community alike.”

Tō mātou takohanga ki a koe
Our commitment to you
We love the Western Bay.
And we’re proud of what we’re achieving together to make your place just that. Your Place.
So, when we say, ‘our job as a Council is to do our best for the community’, we really mean it.
That’s why the important things we’re focusing on right now will keep us ahead of the curve.
Not only for today but to also meet the future needs of our children and children’s children.
Things like playing a greater role in providing affordable, accessible, and appropriate housing, growing
authentic Te Tiriti based relationships, and building and maintaining infrastructure that responds to
community needs.
But we’re also conscious of the challenges that lie ahead, and understand the pressures everyone is under
– affordability, cost of living, and inflation. Council is not immune to these challenges, and we’re committed
to striking a balance that benefits everyone.
So, when we looked at how much it was going to cost to deliver things next year, and in subsequent years,
compared to when we last budgeted for them in 2021, we realised it was going to cost a lot more.
And we knew that it wasn’t acceptable to be passing on all these costs to you.
Which is why we’ve worked incredibly hard to develop the best possible picture for our District, now and into
the future.
This meant balancing the impact of things outside of our control, like increased inflation and interest rates,
with the things that we can control, our rates and debt levels.
We’ve done the hard yards, working out how we can reduce and smooth the costs over the next 10 years –
thinking about where we can sweat our assets, and timing our projects in a way that will reduce those costs.
We’ve also gone through our budgets with a fine-tooth comb, identifying areas where we can save without
compromising essential services.
But we’ve got some big challenges in the infrastructure space – in particular the Katikati outfall pipe and
Te Puke Wastewater Treatment Plant – and will continue to work through how we’re going to deliver our
roading contracts in the next 10 years.
We also want to make sure we don’t lose sight of making the Western Bay a better place to live from what
you’ve told us you want in the past. Things like the Te Puke Swimming Pool and Waihī Beach Library.
To strike this balance, we’re proposing a 13.6% rate increase for the coming year, but trust us, every dollar
is going toward making our community even better.
While it may mean waiting longer for some projects, we want to reiterate that we’ve made these decisions
to try and keep more money in your pocket. We’re dedicated to delivering on our promises while ensuring
financial prudence for the long term.
If needed in the future, we can accommodate the additional debt required as our balance sheet is in a good
position which gives us the option to borrow. However, we’ll do so with careful consideration to ensure it
doesn’t put us in a tough spot later.
So, before we develop this picture we want to see if it’s one you can imagine and are happy with.
A picture that includes spending less on some roading upgrades and walkway/cycleway projects to reduce
the impact on rates, improving the way we fund community facilities, and permanently closing Te Puna
Station Road.
No matter your views, we hope you will put yourself in the picture and join the kōrero.
Because together we can make our community the best it can be.
That’s our commitment to you.
We hope you can picture it.
James Denyer,
Western Bay Mayor and Councillors
Tell us what you think
haveyoursay.westernbay.govt.nz/LTP

June 2024 BAY OF PLENTY BUSINESS NEWS 13
> RESPONSIBLE FRANCHISING:
WHAT IS IT, AND IS NZ ALREADY A
WORLD-LEADING PRACTITIONER?
There’s a new phrase that has
entered the vernacular of
international franchising.
It started in the United States, but
it’s now used in franchising discussions
in the United Kingdom,
Australia and soon, no doubt, New
Zealand. That phrase is: “Responsible
Franchising”.
The phrase originated from
a report and recommendations
made by the International Franchise
Association (IFA). IFA is the
largest membership organisation
for franchisors, franchisees and
franchise suppliers in the world.
Based in the United States where
franchising, and in particular
franchise sales, are governed by
the Franchise Rule, a federal regulation
overseen and enforced
by the Federal Trade Commission
(FTC).
A review of the Franchise Code
prompted the IFA to produce the
report identifying five core practices
of Responsible Franchising.
IFA’s core practices of responsible
franchising include *
1. Setting clear goals and expectations
during the pre-sale
period so that franchisors
and franchisees are aligned
in terms of their long-term
relationship.
2. Connecting prospective franchisees
with the right opportunity
through due diligence and
validation of all parties in the
franchise sales process.
3. Ensuring that franchisors and
franchisees commit to their
respective operational obligations
to protect both the brand
and the franchisee’s equity in
their business.
4. Focusing collectively on driving
unit economics and profitability
for all parties.
5. Embracing collaboration
among the franchisor and
franchisees through open
communications with franchise
advisory councils and
independent franchisee associations
when modifying standards
to respond to changing
market forces and consumer
preferences.
In summary, the IFA believes
that one of the most crucial ways
to improve franchising outcomes
is by enhancing the franchise
sales process before a franchise
agreement is signed.
I read into this that there is
a perceived issue that franchisees
are purchasing franchises
whilst being either ill-equipped,
ill-informed or misaligned with
the brand that they are buying
into. Research has indicated this
is in spite of the Franchise Code,
whose stipulations include franchisors
being required to provide
Franchise Disclosure Documents
(FDDs) with very detailed information
on a number of areas
– referred to as Articles. The
research further identified that
FDDs are not being read, are too
long, or too complicated by either
legal jargon or financial models.
The assertion is potential franchisees
are not doing their homework
or due diligence, or perhaps
are unaware of the available tools
to conduct due diligence on a
franchise opportunity.
So, what’s the relevance for
New Zealand and franchising?
In New Zealand, we don’t have
any franchise specific legislation.
I share the view it’s difficult to
see that it does anything other
than add cost and complexity.
Whilst I’m not a lawyer, I am yet
to hear a commercial implication
of franchising raised which is not
covered by existing New Zealand
legislation.
This means we have a simpler,
and perhaps more user-friendly
legal framework around franchising.
In my view this produces documentation
and information that
is easier to understand and again,
more user friendly. From reading
the Responsible Franchising
report, this appears to be one of
the over-arching objectives.
In addition to the legal framework,
other factors contribute to
why I think we already have a
culture of Responsible Franchising
in New Zealand. We have
a competitive but small market
for franchisees, combined with
a very high ratio of franchisors
and franchisees to population.
Good operators and brands flourish,
the less so fade and or suffer
public scrutiny in again, a small
media market.
Another factor is that New
Zealand Banks are conservative;
several have a focus on franchising.
They tend to know the brands
well, do thorough due diligence
on the part of their customers
and generally understand SME
business as it’s so prevalent in our
economy.
Critically, versus being compelled
to comply with a Franchise
Code, in New Zealand franchisors
FRANCHISING
BY NATHAN BONNEY
can voluntarily join the Franchise
Association of New Zealand. To do
so they must comply with the Code
of Practice and Code of Ethics.
These include providing a Franchise
Disclosure Document, and
franchisee safety provisions such
as a 14-day cooling off period after
a franchise agreement is signed.
FANZ is also a great provider and
incubator of education for both
franchisees and franchisors. The
Codes and their provisions lift the
standard for both FANZ members
and non-members.
The proof is in the data. Consecutive
franchise surveys report
very low levels of complaints and
disputes between franchisees and
franchisors.
I think that indicates a culture
of Responsible Franchising
is already alive and well in New
Zealand.
Nathan Bonney is a director of Iridium
Partners. He can be reached at
nathan@iridium.net.nz or 0275 393 022
* IFA Responsible Franchising Report
AI: Guidance for business leaders
Why AI matters for your organisation
AI is not just a buzzword
or hype. It is incredibly
powerful technology that
is already transforming business
processes, improving customer
experiences and enhancing businesses
competitive edge.
In addition to the content generation
capabilities of the Large
Language Models (LLM) such as
ChatGPT, Copilot and Bard, AI can
help you automate tasks, analyse
data, generate insights, and create
new value.
AI can also help you solve
complex problems, innovate
faster and adapt to changing
markets and customer
needs.
Whether you are a multinational
listed company or a local
SME, AI can provide incredible
benefits for you and your teams.
That being said, AI is not a
silver bullet that you can simply
plug and play. AI requires careful
planning, preparation and implementation.
AI also requires a culture
of learning, collaboration,
and experimentation.
AI is not a one-off project, but
a journey that requires ongoing
commitment and investment
which can help your organisation
elevate itself, its customers and
its suppliers to new levels.
How to assess your AI
readiness
Before you embark on your AI
journey, you need to assess your
current state and your desired
outcomes. You need to ask yourself
some key questions, such as:
• What are your business goals
and challenges?
• What are the opportunities
and risks of AI for your
organisation?
• What are the data sources and
quality that you have access
to?
• What are the skills and capabilities
that you need to develop,
acquire or access from external
sources?
• What are the ethical and legal
implications of AI for your
organisation?
• What are the cultural and
organisational changes that
you need to make?
These questions will help you
identify your AI readiness level,
which can range from basic to
advanced. Depending on your
level, you will need different
strategies and actions to move
forward. For example, if you are
at a basic level, you might need
to focus on improving your data
infrastructure, building your AI
TECH TALK
BY ERIC SMITH
literacy, and exploring some use
cases.
If you are at a more advanced
level, you might need to focus on
finding ways to measure impact
to ensure you’re getting maximum
return on your time and
financial investment.
How to prepare for AI
adoption
Once you have assessed your AI
readiness, you can start preparing
for AI adoption. This involves
three main steps:
• Define your AI vision and strategy.
You need to align your AI
initiatives with your business
objectives and prioritise the
most impactful and feasible
use cases. You also need to
define your AI governance
framework, which includes
your ethical principles, policies,
and standards.
• Build your AI team and capabilities.
You need to assemble a
cross-functional team that can
deliver your AI projects and
provide them with the necessary
tools and resources. This
doesn’t have to happen internally
– outsourcing key tasks
to organisations who are fully
immersed in AI can save you
time, and working with the
right partner will make your
journey more successful and
impactful. You will need to
upskill your workforce in any
case, and prioritise a learning
culture that encourages curiosity,
experimentation, and
feedback on everything you
deploy.
• Implement and monitor your
AI solutions. You need to
follow a structured approach
to develop, test, and deploy
your AI solutions. You also
need to monitor their performance,
outcomes, and impacts
and make adjustments as
needed.
Post-adoption: how to
continue to benefit
AI is a game-changer for organisations
that want to thrive in the
digital age. Executed properly,
an AI implementation project
that starts your AI journey can
bring previously unthinkable
efficiencies and new opportunities
at an affordable price and
time commitment. By following
the right steps and focusing on
achieving better outcomes which
you can measure and continue to
improve, you can avoid getting
stuck in your journey and reap
benefits for your organisation.
Eric Smith is Chief Technical Officer
at Stratus Blue. He can be
contacted at eric@stratusblue.co.nz
or 07 777 0010

14 BAY OF PLENTY BUSINESS NEWS June 2024
PEOPLE
> FIRST ON THE SCENE
Tauranga Business Chamber’s May BA5, hosted by Tauranga City Council at Baycourt
Photography: Salina Galvan Photography
ONE
TWO
THREE
FOUR
FIVE
SIX
SEVEN
EIGHT
ONE Paul Brljevich (Tabak Business Sales) & Gareth Wallis (Tauranga City Council). TWO Jaqui Donaghy & Trevor Donaghy (Lone Star Tauranga). THREE Peter Wren-Hilton & Jacqui Wren-Hilton
(Wharf42 Limited). FOUR Lori Luke (Acorn Foundation), Anne Blakeway (Tauranga City Council), Louise Walch & Lisa Pepper (Caleys Blinds). FIVE Jude Spicer (Burley Castle Hawkins), Karyn Grindlay
(Apex Advice Group) & Rose Gilmore (Stratus Blue). SIX Mark Beaudoin & Wanita Wood (First Credit Union). SEVEN Shania Keegan (Bishopp Airport Advertising), Simone Davey & Holly Oppers (Talent ID).
EIGHT Farran Inglis (RCP) & Ryan Russell (Tauranga City Council).
> NEW APPOINTMENTS
ALEESHA KEMP
Talent ID Recruitment has been supporting
South Waikato businesses
17 years and now have a dedicated
Recruitment Specialist for the region.
Aleesha is a proud Taupō local whose
role is to partner with businesses to support
them through their recruitment
and human resource functions. She
joined Talent ID in March and is busy
introducing herself, placing temps and
recruiting roles, along with working on
key HR projects. Most recently, Aleesha
held a HR role for seven years for a
manufacturing business in Taupō. Here
she made the most of her Bachelor of
Management Studies degree and found
her passion for recruitment, onboarding
and working with people to make a
positive impact.
SIMONE DAVEY
Simone is Talent ID Recruitment’s
newest Recruitment Consultant. Working
out of Tauranga, her role is to
support employers and the business
community to identify and bring top
talent to their growing team. A month
into the job, Simone is excited by the
growth, expansion and development
that she is seeing in Tauranga. Her
career spans over 20 years both in NZ
and overseas within the public, private
and not-for-profit sectors performing
HR generalist, internal and agency
recruitment roles. She is fully qualified
1. Aleesha Kemp. 2. Simone Davey. 3. Alesha Evetts. 4. Matt Powdrell. 5. Sue Griffiths. 6. George Wheelans
with a bachelor’s degree majoring in
Human Resources Management and a
Diploma in Career Services.
ALESHA EVETTS
Sharp Tudhope is happy to announce
the addition of Alesha Evetts as Senior
Associate to their family law team.
With over 15 years of experience, Alesha
specialises in complex relationship
property, Trust, and estate claims and
is excited to take on a leadership role
in the team. Her arrival is part of plans
to expand the family law team, and
she will be sharing her knowledge and
skills to achieve the best possible outcomes
for the clients.
MATT POWDRELL
Stratum Consultants is pleased to
announce the appointment of Matt
Powdrell to its Board of Directors effective
1st April 2024. Matt joined Stratum
Consultants in 2013 and has built
a strong reputation in his field forming
longstanding partnerships with clients.
His contributions have been integral to
Stratum Consultants’ success, both in
his roles as Branch Manager, advisor
and partner to clients, and as a practicing
Licensed Cadastral Surveyor. This
appointment acknowledges Matt’s hard
work and dedication to clients and the
communities Stratum Consultants serve.
SUE GRIFFITHS
Sue Griffiths joins First Mortgage
Trust as the newly appointed Lending
Operations Manager. Sue says, “I
am thrilled to join the FMT team, with
whom I’ve had the pleasure of working
with in the non-bank market over
the past six years. I’m look forward to
working with the team to help drive
FMT’s growth strategy and to continue
supporting the aggregators and mortgage
advisers through ongoing education
and training.”
“We are excited about the valuable
skills and strategic insights she will
bring, which will undoubtedly enhance
our lending operations and support our
long-term growth objectives,” says Sam
Burgess, Head of Lending at First Mortgage
Trust.
GEORGE WHEELANS
George Wheelans also joins First Mortgage
Trust as Business Development
Manager in Christchurch. George will
be expanding FMT’s presence and fostering
new relationships throughout
Canterbury. His background in finance,
lending, and portfolio management,
coupled with his connection to the local
market, will be hugely beneficial to our
team.
“His proven track record and comprehensive
knowledge of the financial
landscape make him an ideal fit for this
role. We are confident that George’s
expertise and connections will significantly
contribute to our expansion
efforts and strengthen our position in
the Canterbury market,” says Sam Burgess,
Head of Lending at First Mortgage
Trust.

June 2024 BAY OF PLENTY BUSINESS NEWS 15
CULTURE
New publication has
business stories aplenty
Mount Maunganui-based publisher Alan
Neben is adamant the Bay of Plenty is ‘the’
place to be in New Zealand. He acknowledges
times have been tough since Covid 19, but he
say’s his team is super-excited about their newest
project.
“We’ve been publishing BOP Business News Year
Books for five years. But business in the Bay has
changed plenty in that time.
“Our team wants us to reflect that evolution, so
we decided to change things up in 2024.
“In August we’re launching BoP PLENTY magazine
– we’re taking the best of our 100 People magazine
and annual Year Book and meshing them
together to produce one special new business magazine
– a coffee-table business read – profiling high
performing businesses and people across the region.
“We’re really excited to be taking the best of our
established titles and remodelling them,” he says.
BoP PLENTY will feature Bay businesses and
businesspeople from all sorts of industries and all
walks of life.
“We’re going to be telling amazing stories and
featuring the personalities who make our business
ecosystem the success story it is in 2024.”
Sales director Pete Wales is excited at the prospect
of producing a stylish new product for local
businesses: “If you’d like to promote yourself or your
business in a uniquely local modern business magazine,
then talk to us – we want to hear your story.”
Go to bopbusinessnews.co.nz/plenty-magazine or
call Pete on 022 495 9248.
BoP
ECLECTIC MIX
OF INDUSTRIES
PROPEL THE BAY
OF PLENTY REGION
FORWARD
BAY OF PLENTY:
SHAPING UP TO
BE NZ’S CULINARY
DESTINATION
WITH FLAVOURS
A PLENTY
BUSINESS + PEOPLE 2024
TAKITORU
– GROUP
OF THREE
TAKING THE MA _ ORI WORLD
VIEW TO BUSINESSES WITH A
GLOBAL AD AGENCY ALLIANCE
> SIZE IS EVERYTHING
THE POWER OF DREAMING
BIG IN A SMALL WORLD
The world is getting smaller. The rise of technology combined with the fall of western
economies means everything is being scaled-back. Budgets, forecasts, timescales, workforces
and expectations are all being minimised, shrink-wrapped and shelved. But for those business
owners who are willing to buck the trend, dream big and act bigger, the rewards await.
is Tauranga. You need to start
lowering your expectations.”
“This
I still recall one of the very
first meetings, when I arrived in New
Zealand three years ago. As far as motivational
speeches go, it wasn’t exactly
the Gettysburg address. I had landed in
Aotearoa full of hopes, goals and dreams,
but these ambitions were being cut down
faster than a harvester moving through a
field of tall poppies.
The message was clear: Now is not
the time to dream big. Big dreams sound
exciting and adventurous, but it’s safer to
scale-down, knuckle-down and keep your
head down. So that’s what I did.
Until, one day, when I was productively
spending precious hours of my life sitting
in a Bayfair traffic jam, the unexpected
happened: I dared to dream big.
Then, to add insult to injury, not only
did I dream big, but I started to take bigger
actions. Finally, as my actions scaled up to
meet my expectations, I started to encounter
other people who were performing in
the same way.
But the bigger my dreams became, the
more people warned me that my business
was about to turn into a nightmare. Was it
time to get more realistic? In 2024, are big,
bold business plans the stuff of fairytales?
Honey, I shrunk I dream
In a world where success is often measured
by incremental gains and marginal
improvements, dreaming and acting big is
a scary prospect. After all, why go for ‘big’
when ‘average’ will do just fine? You only
need to look at politics, sports or corporate
leadership to see that acting small is not
only encouraged but rewarded.
Sure, it’s OK to talk a big game, but
when most people would be happy to get
a silver medal 10 times rather than spectacularly
fail 9 times and pick up the gold
once … taking the path of least resistance
feels not only safer, but also a path more
likely to be paved with gold.
The time for rebels, dreamers and loose
cannons with a point to prove appears
over. They’ve been analysed and optimised
out of existence. The crazy hopes
and wild “But what if we DID actually pull
this off?” schemes have been ironed out
by focus groups and A/B testing.
Is the dream over?
Take Apple, for example. In the infamous
‘Think Different’ commercial, Steve Jobs
proclaimed, “Here’s to the crazy ones, the
misfits, the rebels, the troublemakers, the
round pegs in the square holes” .
That was in 1997, when Steve’s natural
desire to dream and do big things put
the struggling tech company on the path
to greatness. But Apple’s meteoric growth
over the past decade can be attributed to
Tim Cook – a practical and pragmatic engineer
– since taking over the helm in 2011.
These days, an Apple developer wouldn’t
dare to doodle a sketch on a napkin before
first running it past a consumer survey
officer. Maybe Apple isn’t as sexy as it was
once, but it’s a lot more profitable. Starving
artist or middle of the road and rich?
I know which the Apple shareholders
would prefer.
When nothing matters more than the
bottom line, perhaps the time for dreams
is over. Jobs; da Vinci; Earhart; Barnum;
Pearse; Hillary – are the visionaries consigned
to the history books forever?
It would be a sensible idea, except for
one issue: Statues are rarely built for people
who follow sensible ideas.
Dream differently
HIGH PERFORMANCE
WITH FREDDIE BENNETT
The most significant breakthroughs and
achievements often come from disproportionate
actions and radical leaps of faith,
just ask Elon Musk or Jeff Bezos.
But dreaming big isn’t just reserved
for industry titans and visionary entrepreneurs.
It’s a mindset that anyone can
adopt to achieve extraordinary results
in their personal and professional lives.
Whether you’re striving to advance your
career, launch a business, or pursue a
lifelong passion, embracing the power of
being radically different can propel you
towards unprecedented success.
So how can you cultivate a visionary
mindset in your own life?
Start by daring to dream without limits.
Instead of setting goals based on what
seems achievable or realistic, envision
the ultimate outcome you desire and then
multiply it by ten. Allow yourself to entertain
the possibility of achieving far more
than you ever thought possible.
Next, take massive action towards
your grandiose goals. Break free from the
constraints of conventional thinking and
embrace unconventional strategies and
approaches. Be willing to take calculated
risks, challenge the status quo, and push
beyond your comfort zone in pursuit of
your dreams.
There’s no place like home
As the world gets smaller, dreaming big
can not only be encouraged, but required,
to stand out and make an impact.
But dreaming is not enough. Support,
guidance and structure are needed to turn
the dream into reality. Thankfully, that is
where Tauranga steps up and steps into its
zone of genius.
We are blessed with a growing network
of dreamers, schemers, entrepreneurs
and catalysts who want to make a
difference. This isn’t where the dream
comes to die … this is where it comes
true. I believe we all have a responsibility
to ensure dreaming is encouraged, and
doing is enabled. This may sound crazy.
And perhaps we are all a little crazy in
this sunny corner of New Zealand. But, as
Steve Jobs said, “The ones who are crazy
enough to think that they can change the
world, are the ones who do.”
Freddie Bennett is a Guinness World Record
holder, bestselling author and leads New
Zealand’s leading mastermind group for
professionals: Professional Superheroes.
He gets businesses unstuck, unshackled
and unleashed. Freddie can be contacted at
hello@freddiembennett.com

Without hesitation I would
recommend Fosters. The
connections made with their
key people was invaluable.
I had the impression that
each of them had a vested
interest in the success of
this project.
Dr Morné du Plessis,
Bay Skin Cancer Clinic
Already seeing an increase in local custom, Dr Morné du Plessis
hasn’t looked back since making the decision to work with Fosters
to open a second branch of the Bay Skin Cancer Clinic at The
Village, Ōmokoroa.
Running out of space to work in and looking to expand his business
‘to the west’, Morné came across The Village in the early stages of
the property development.
“Being an area that was underserviced in our line of work, Ōmokoroa
was a good location” said Morné. “The Village concept ticked our
boxes with the mix of retail, professional services, and hospitality,
plus the bonus of a GP clinic situated close by.”
Meeting the Fosters development team and noting their approach to
meeting his business requirements made it easy for Morné to commit.
“The proximity of parking and lift to our service were very important,
as was natural lighting within the office. All our needs were
considered.”
Initially signed up for Building B, which was pitched as a medical
hub, changes to the building programme meant the clinic had to be
relocated.
“Fosters development team were so quick with a solution – and that
was to give us part of level one in Building C.”
Morné is more than pleased with the result. “We had strong ideas
of what we wanted. With the relocation to Building C, Fosters
development team were one step ahead and had the architects
draw up a design. Then, with some clever value engineering, they
delivered similar outcomes at a lesser cost. In the end, I believe we
got a better space.”
Project management and communication was exceptional, adds
Morné.
“Throughout the development process, from concept to base build to
fitout, our Fosters contacts were always approachable. They kept us
informed and we always felt welcome on site.”
And the value of working with a developer and construction team
from the same company? “Ideal” said Morné. “Having a fitout
team that had access to the base build information made delivery
seamless.
“Without hesitation I would recommend Fosters. The connections
made with their key people was invaluable. I had the impression that
each of them had a vested interest in the success of this project.”
Importantly, the final product has exceeded his expectations. “I am
stoked with the results and many people have commented on how
good the new clinic looks.”
Space available for medical and professional services
at The Village Ōmokoroa. Contact Fosters today!
FOSTERS.CO.NZ
07 570 6000