Home' InDaily : May 7th 2010 Contents Hear our panel discuss the issues around
successful co-ordination of extended family
members' involvement and succession.
Understand the reality of risk management and
compliance; the liabilities and responsibilities
of directorship and learn how to impose the
disciplines and processes.
SME Directors Brie ng
Family Board Governance
The importance of family business boards
Thursday 20 May 2010
5.30pm to 7.30pm
To register for this event contact
Young aren t so restless
One of the lasting impacts of the
GFC is a shift to certainty. According
to the 2010 Global Workforce Study,
by Towers Watson, the majority of
Australian employees would prefer
stability in their job instead of career
advancement in their field, ending
an era of job hunting and pursuit of
the next big gig. The study surveyed
20,000 workers from 22 countries
with participation from about 1000
Australians. "Employees are feeling
overwhelmed and unsure about the
future," Towers Watson's spokes-
woman Maureen Pound said. The
report also shows employees are
feeling lack of motivation as 66 per
cent would welcome the chance to
develop their skills but only 40 per
cent feel their managers give them
the opportunity to do so. Such trends
suggest the global crisis could morph
into a grumpy worker crisis as people
stay on in jobs they don't like.
Guidelines for building a private
bushfire shelter were released last
week by the Australian Building
Codes Board. It will take a couple of
years for the final ratification of the
national standard, but those who are
thinking about building one should
read the 59-page draft standard at
the ABCB's website. It's not as simple
as it sounds and the design standard
will prevent some possibly dangerous
concepts being built.
SA shines in Sydney
From a field of more than 5000
entries in Sydney's Royal Wine, Food,
Dairy and Fine Food Shows comes
the list of six contenders for the 2010
President's Medal -- and three of the
six are from SA. The Yalumba Wine
Company, Peter Lehmann Wines,
and T & R Pastoral are in contention
for the much sought after gong. The
six finalists have already received
Champion status for their product
at one of the RAS's Sydney Royal
Wine, Dairy and Fine Food Shows,
but the President's Medal is judged
on a whole-of-company approach to
production and the marketing of their
product. The winner will be announced
All credit due
Credit Union SA, the state's newest
and fourth largest credit union,
opened its doors this week to a
membership of 55,000. The new
entity is the result of the October
2009 merger between former South
Australian credit unions Satisfac
and Powerstate. With eight branches
and $650 million in assets, it's a
significant new figure in the state's
financial sector. According to Credit
Union SA Chief Executive David
White, the organisation's members,
predominantly from the education and
industrial sectors will be very pleased
with some of the improvements in the
Where there s a will...
Country lawyers have come to the
party with an admirable offer to
prepare a basic will free of charge
for volunteers who put their lives
at risk serving others in regional
communities. Volunteers included
in this scheme include members
of the Country Fire Services, State
Emergency Service, SA Ambulance,
Sea Rescue, Surf Lifesavers and
Coast Guard. Members of other
organisations are welcome to apply
providing they meet the criteria.
"What we are doing now is
much more effective."
He said innovate sa s mission
was to add value to businesses and
"If we haven t done that in three
years then we ll let it go, but we
are finding that the new set up is
already working well."
Innovate sa s methodology is
designed to keep out the dud ideas
and desperate entrepreneurs that
want some free government money
while giving a genuine leg up to
businesses with a global capacity.
Using venture capital, business
diagnostic tools and networking
opportunities the focus is on
businesses that "pass the test of
"We introduce people with
money, to people who need
money," Mr Simmons explained.
"But they have to go through
a diagnostic process to prove
their business plan. Some of our
entrepreneurs still can t get used to
the notion that they need to do that."
Some of the businesses show-
cased at this week s Advantage SA
Innovation tour (in conjunction
with innovation sa) are good
examples of the need to have a
plan, a passion and a pitch.
The SCF Group in Mile End
started out with a couple of locals
experienced in transportation. They
got into the container business.
The company has surged in
recent years after developing a
It was a simple idea.
Instead of a swing door on the
thin front end of the container,
they designed solid side doors to
maximize cargo access and reduce
maintenance and repair costs.
It won an Australian Design
"For a company that grew
out of a family lounge room, it s
satisfying to now almost 10,000
containers, revenues above $40
million, offices across Australia
and a head office still in SA," said
SCF Director Richard Sykes.
But as Sykes readily admits,
the containers are built in China,
because manufacturing costs
there are half what his company
would have to pay in Australia.
"Believe it or not, the price of
steel (made from Australian ore) is
so much cheaper over there," Mr
"It s not just labour costs;
it s production processes and
economies of scale that mean the
manufacturer of containers is no
longer done here."
Despite the loss of the manu-
facturing capacity, SCF is still
creating jobs, reducing shipping
costs for other Australian busi-
nesses and is developing world
first tracking technology as their
Over at SAGE Automation
in Melrose Park, another local
is surging ahead with high-end
robotics and electronic systems.
"With more than 100 engineers,
250 staff over five industry sectors
in seven locations our team
provides intelligent automation
and control systems which,
quite simply, deliver certainty,"
said managing director Andrew
The company is bursting at the
seams and expansion plans are
At Lonsdale, one of the state s
ongoing success stories, Redarc,
continues to dazzle, having
survived the global crunch.
With a wall chock full of award
certificates and trophies, it s no
surprise to discover Redarc s
battery charging and switching
systems are under the bonnets
of Australia s trucks, caravans,
mobile homes and police cars.
Rural and regional bank Rural
Bank opened the doors to
its first metropolitan retail
branch in Adelaide this week.
Located on Grenfell St, Adelaide
it will be followed by a branch in
Perth next month.
It is the first metropolitan
presence for the bank after over
a decade of retail operation in
more than 250 rural and regional
locations across Australia.
Rural Bank CEO Paul
Hutchinson says more than 43
per cent of Rural Bank s deposit
funds come from metropolitan
markets, making the move to set
up branches in the city a logical
"We have extremely competitive
rates and a proven track record
in the retail funding market, with
more than $3.5 billion on our
balance sheet as of 30 June 2009,"
Mr Hutchinson said.
"The major banks have said
they will be putting a renewed
focus on the retail funding market,
however we already have a well
established position in this area
and will continue to grow it.
"We pride ourselves on having a
personable service proposition and
tangible country values that enable
us to be a truly viable banking
alternative for all Australians. Our
new Adelaide Investment Centre
reflects this attitude as customers
can come in and discuss their
savings and investment options
in a welcoming environment," Mr
Rural Bank was formed in 2000
to fill a void in rural and regional
areas when major banks were
leaving these locations.
Rural Bank s chief executive Paul Hutchinson.
City welcomes country
For three successive years the
company has been named in BRW
magazine s Fast 100 list.
"We believe the customer
is king and our focus is to use
innovation that creates solutions
to their problems," said managing
director Anthony Kittel.
Back at Thebarton, the
group discovers that Adelaide s
biotechnology hub, an initiative
of the Olsen State Government in
2001 is doing very nicely.
Bioinnovation SA was set up to
accelerate development of South
Australia s bioscience sector. Its
mission is to enable the creation
of 50 new bioscience companies
and 2500 jobs by 2010.
Business must 'innovate or evaporate'
From Page 11
We introduce people with
money, to people who need
money. But they have to go
through a diagnostic process
to prove their business plan.
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