Back by popular demand after a full house last year, four of the region’s most prominent financial, legal, accounting and business advisors have joined forces to this time focus on assisting business owners considering selling or exiting their business.

The foursome – Rod Russell of Savvy Business Sales, Scott Schatto of Commonwealth Bank, Ken Waddington from Garland Waddington Solicitors and Ravi Sharma from PJT Accountants & Business Advisers – will host a free information session on Wednesday, 7 June 2017 at the Maroochydore Surf Club considering the do’s and don’ts when selling or restructuring your business.

Event coordinator Ravi Sharma said it can be quite a tricky process when business owners are looking to sell or exit their business.

“Most business owners rely on funds they receive from the sale of their business to fund their future plans, so a successful sale needs to include getting the highest possible price and a smooth transition for all parties,” Mr Sharma said.

“One in three businesses on the Sunshine Coast are family-owned businesses, which means when it’s time to retire, most families are faced with the complexities of passing the business on to the next generation or selling to retire comfortably.

It’s important for these businesses to get the right information that will guide them on the right path to a successful transition.”

Presenter Ken Waddington said some of the key issues being covered at the event included succession planning, how to finance, how to agree on a fair price when family is involved and how to best manage retirement funds.

“We’ll also consider what you can do to facilitate a quick business sale, the sale process pitfalls to avoid, employee considerations and business tax concessions that you can take advantage of,” Mr Waddington said.

“Attendees will also go in the draw to win a $1,700 business evaluation package which includes legal advice, an on-site business assessment and business magazine subscriptions.”

The ‘Selling your business’ seminar will be held from 5.15pm on Wednesday, 7 June at the Maroochydore Surf Club, 34-36 Alexandra Parade, Maroochydore. Entry is free and bookings are essential. Contact Tanya Munro on 07 5413 9300 or tanya@pjtaccountants.com.au by 1 June.

Media contact: Amber James, Fresh PR & Marketing, 0403 000 330 or amber@freshprm.com.au

scbwn mentor program group

What do you get when you bring together an enthusiastic group of 20 budding business owners, nearly 20 high calibre guest speakers and acclaimed business mentors, more than 15 hot business topics and a coordinator to make it all happen over a 13 week period?

Why, it’s the Sunshine Coast Business Women’s Network ‘Reflections Business Mentoring Program’ of course!

Garland Waddington is enjoying being part of this year’s dynamic and interactive mentoring program through providing mentor support and also a guest presentation on business and commercial law.

Partner at Garland Waddington, Brendan Bathersby, said the program is an excellent opportunity for Mentees to be matched with popular, skilled and accomplished Mentors who are excited about supporting and challenging their Mentees.

“It’s a privilege to be part of such a well-coordinated program,” Mr Bathersby said.

“The Mentees are all very keen and enthusiastic. Many of the Mentors are recognised nationally with some being well-known internationally in the business world with most of the Guest Speakers being international presenters”

The program includes a schedule of hot topics including (but not limited to): understanding your purpose, both life planning and business planning; having the right people in your team; team health and wellness; power of positive mindset; taking your business from ‘home-based’ to a ‘global enterprise’; maximising sales; understanding the success formula; how to handle basic HR & IR issues; systems; growth; legal requirements and structures; time management and understanding your finances. The mentees are using each week a fantastic workbook “Transform Life & Business – 140 characters at a time” which covers many aspects of real life insights into life and business.

Mr Bathersby said that the Mentees are particularly dedicated to their own success and to the success of others.

“It’s humbling to be working with such a remarkable group of career-focussed people and budding business owners,” Mr Bathersby said. “Many of the Mentees have been in a particular career or business for a while but they are keen to diversify, start a new project or kick start their business in order to make their business even better.” The mentees have all expressed the significance that this program has had on their life and business from the opportunities and knowledge provided to them by the Mentors and Guest Speakers over 13 weekly sessions every Monday afternoon.

“The SCBWN are to be commended on the program and the opportunity it provides for its members. It truly is a program designed for successful businesses seeking to grow and take things to the next level or anyone wanting to improve upon their career development.”

To find out more, go to: http://www.scbwn.org.au/mentoring-program/

garland waddington the compass institute

Local lawyers had a fun and meaningful team day out in aid of charity when The Compass Institute welcomed the Garland Waddington team to their 20 acre organic farm in Palmwoods recently.

Team members were taken on a tour by the farm’s Development Coordinator, DJ McGlynn, who shared the story of how the farm started five years ago, and the important role it plays in the community today by providing support for people with intellectual and/or physical disabilities.

The Compass Farm provides work experience and supported employment opportunities for a wide number of social enterprises including market gardens, animal husbandry, bee keeping, site services, fruit orchards and more.

Partner at Garland Waddington, Brendan Bathersby, said it was a unique and meaningful team building experience to see the Compass Farm first hand and learn about the many and varied social enterprises it has created for those in need.

“I’ve known about The Compass Institute and the good work they are doing in the community for a few years now, but it was a humbling experience to see and experience the farm with our own eyes and hands and learn about the budding and successful social enterprises they have established,” Mr Bathersby said.

“We learned that almost every trainee who attends Compass plays some role in the social enterprises – directly or indirectly.

“This is so evident when you meet them and see the pride they take in their work and the confidence they gain that then flows over to their lives.”

After a tour of the farm, the Garland Waddington team visited Compass’s retail outlet where they sell a wide range of items made by Compass trainees, Wabi Sabi, in Palmwoods for some retail therapy, followed by lunch at the Compass Connections Café in Nambour. This café is a collaboration with Cricks Nambour and provides flexible employment and skills training.

Compass Development Coordinator, DJ McGlynn, said most people identify very closely with their work and take great satisfaction from performing their role to the best of their ability.

“Access to stable long term employment in the mainstream in Australia for people with disabilities is quite limited,” Mr McGlynn said.

“At Compass, we recognise that everyone benefits when they can identify with some type of work and the more varied and meaningful that work is, the more value it lends to their lives.

“The more the work provides an interface with the broader community, the more acceptance they gain and the more the community is educated to the capacity of people with a disability to fill a valued role in their society.”

The Compass Institute is just one of a number of community organisations that GW supports across the Sunshine Coast. More information about The Compass Institute, visit http://www.compassinc.org.au/index.php/enterprises/compass-farm/ or for more information about Garland Waddington, visit www.garlandwaddington.com.au

With the Sunshine Coast already home to more than 30,000 businesses and game-changer projects such as the Sunshine Coast Health Campus attracting further long-term business investment, four of the region’s most prominent financial, legal, accounting and business advisors have joined forces to assist prospective business owners with navigating the complex path to business ownership.

The foursome – Rod Russell of Savvy Business Sales, Scott Schatto of Commonwealth Bank Australia, Ken Waddington from Garland Waddington Solicitors and Jodie Thompson from PJT Accountants & Business Advisers – will host a free information session on Wednesday, 31 August 2016 at the Maroochydore Surf Club considering the ‘dos and don’ts’ of buying a new business.

Event coordinator Jodie Thompson said with so many factors to be considered when buying a business, it was easy for prospective business owners to overlook key steps.

“The time, effort and finances that go into a new business venture are considerable so it’s crucial that buyers are well-informed so they can make sound decisions, and also select the type of business and industry which suits their lifestyle and skillset. We’ve seen too many people rush into a business, only later discovering it really doesn’t suit them,” Ms Thompson said.

“In Australia, six in 10 new businesses shut their doors within their first three years of operation. This is an alarming statistic and really drives home the importance of taking time to ensure your new venture is capable of surviving and thriving over the long-term, and you pay a fair price for the business to start with.”

Presenter Ken Waddington said some of the key considerations being covered at the event included understanding the support and advice required when undertaking a new venture; selecting an appropriate business type and structure; securing financing; conducting due diligence; determining cash flow requirements; limiting risk and facilitating a smooth transition process from old to new ownership.

“We’ll also consider what information you should seek regarding the business itself, completing the contract and judging whether a business is worth the asking price,” Mr Waddington said.

“Attendees will also go in the draw to win a $2,000 business start-up package to help the lucky winner get their transition to business ownership off to a great start.”

The ‘Buying the Right Sunshine Coast Business’ seminar will be held from 5.15pm on Wednesday, 31 August at the Maroochydore Surf Club, 34-36 Alexandra Parade, Maroochydore. Entry is free and bookings are essential. To reserve your place or find out more, contact Tanya Munro on 07 5413 9300 or tanya@pjtaccountants.com.au by 25 August.

garland waddington free information session

proud sponsor sunshine coast business womens network

A message from Craig McPherson ~ Dealer Principle at Pacific Motor Group

Going into business for yourself is a daunting prospect.

It is both exciting and scary at the same time because you are fulfilling your dreams, but unfortunately there is no guarantee of success.

It takes lots of hard work until your business matures and you will continue to question why you made the decision to do it!

But in the end it will all make perfect sense and the rewards will flow in abundance.

Congratulations to all nominees and finalists in the Sunshine Coast Business Women’s Network Awards. Pacific Motor Group was proud to be a sponsor this year and look forward to an exciting awards ceremony.

Nicola Baker Garland Waddington

She’s a well-dressed corporate legal secretary by day, but what most don’t know about Nicola Baker is that after hours, she is a rural firefighter.

Nicola has been part of the GW team for more than eight years and we thought it was high time we profiled her and the selfless community work she does.

Nicola joined the Eudlo Bush Fire Brigade in 2009 and she is part a strong team of more than 30 volunteers who work very hard to keep Eudlo and the surrounding communities fire safe.

The volunteers train up to twice a month and Nicola’s role as the Lady Chair of the management committee sees her put a number of hours in each month working on the administration and grant writing for the essential community organisation.

Since Nicola has been part of the team, the organisation has built and paid for a new shed, they are currently renovating their old shed and they are currently awaiting for formal notification on a federal government grant for a new command vehicle.

Last weekend, Nicola (pictured) was on duty undertaking a hazard reduction burn, where she and her team went to a local person’s property to conduct a burn to reduce future fire risk and promote new vegetation.

When asked about how often she gets called out unexpectedly, Nicola said she can go for months without a call, and then in fire season, it can be as often as every week. The last incident she was called out for was a wild fire up behind Maleny in the Conondale area in mid-May. The incident was well managed thanks to the bush fire brigade’s back burning skills (and a little bit of rain from the gods also helped to keep it under control too).

We’re very proud of the work Nicola does in our community and we look forward to profiling more the work our valued GW team members and the work they do behind the scenes to make our community such a wonderful place to live.

Tony Hunkin receiving his USC Highest Achievement Award from award sponsor, Ken Waddington of Garland Waddington Solicitors.

Tony Hunkin receiving his USC Highest Achievement Award from award sponsor, Ken Waddington of Garland Waddington Solicitors.

AFTER 20 odd years of owning and managing a well-known Maroochydore pharmacy, Tony Hunkin was thirsty for a new challenge and an approach by some fellow pharmacists two years ago to join them in studying law sparked an unforeseen new career path.

With a supportive wife, their high-school aged son and daughter and a devoted German Shepherd (Gemma) by his side, Tony enrolled in legal studies at the University of the Sunshine Coast in 2014 and he is now in his final year of a Bachelor of Laws.

Mr Hunkin admitted that at the mature age of 44, this pursuit seemed a little scary at first and it was a long way from pharmacy but he was confident that even a few law subjects would assist him in whatever else he decided to pursue in life.

“Despite my initial fears of taking such a big leap of faith, I’ve greatly enjoyed the steep learning curve and the student lifestyle,” Mr Hunkin said. “My wife and family have been extremely supportive and assisted me to make this big change in all of our lives.”

A firm believer in making the most of one’s life, in 2002, Mr Hunkin was working up to 84 hours a week in his pharmacy when his first daughter was born. “My daughter’s birth was the reality check I needed and she altered my perspective on life,” Mr Hunkin said.

“I decided to take 12 months off from the coalface and during this time, I relearned how to appreciate a non-stressful great day and not put so much emphasis on the almighty dollar,” Mr Hunkin said.

“During this time I took up rugby and broke my collar bone in two places. I then subsequently took up hockey which saw me with a broken tibia, bone graft and several knee operations. And then I reverted to cycling, which is a whole other story!”

As if Mr Hunkin hadn’t experienced enough sport-related injuries in his life. In October last year, fate would have him fall off his bicycle riding home from Uni.

“I broke my neck (C2, C3), back (T4) and finger,” Mr Hunkin said. “Luckily my bike survived (the chain fell off though) and I only received relatively minor spinal cord damage – although I won’t know the extent for some time,” Mr Hunkin said.

“This had a profound effect on myself and my family. I was in various neck braces for nearly four months, including a halo, and only managed a couple of hours sleep sitting up per night, for a lot of this time.

“I was also unable to drive. Fortunately, my lecturers at USC were most accommodating and permitted me deferred oral exams. I studied and sat my exams for Uni in a neck brace, with considerable discomfort.

“The accident provided me with an opportunity to reflect on my coping mechanisms and watch a considerable amount of late night TV…. and I also learnt a great deal amount about myself during this time and the comfort that food provided to me meant there was a lot more of me to learn about,” Mr Hunkin said with a smile.

As the saying goes, you can’t keep a good man down and any doubts he was on the right path were swept away recently when Tony was awarded the Garland Waddington Solicitors Property Law Prize at the USC annual Awards for Excellence ceremony for the highest achieving student in several law subjects.

“I was very proud of this achievement especially since my final exam in Law 206 was done in trying circumstances,” Mr Hunkin said.

“I am also appreciative of Garland Waddington for their sponsorship of the award. The prize provided great recognition for a considerable amount of work, and hopefully a good example for my children as they pursue their academic careers.”

Partner at Garland Waddington, Ken Waddington, said he was delighted to be able to present the inaugural excellence award to Tony, who he coincidentally knows quite well because Tony did part-time work experience with the firm last year.

“We were fortunate enough to have Tony undertake some work experience with GW last year and he was the ideal role model of an outstanding law student,” Mr Waddington said.

“Tony has a real enthusiasm for the profession, a passion for assisting people, ability to quickly adapt to a new work environment, and outstanding communication skills – all key qualities for a successful lawyer and team member.”

“Once Tony completes his degree, he is required to complete PLT (practical legal training) to gain a Graduate Diploma of Legal Practice and we are already having the conversation with Tony about doing that with our firm.”

Looking to the future, Mr Hunkin says he’s extremely excited about a new career in law.

“This new career path allows me to continue to learn, assist people, apply myself to a variety of circumstances to mentally challenge myself and to improve my understanding of the way society functions,” Mr Hunkin said.

For more information about Garland Waddington, visit www.garlandwaddington.com.au

garland waddington sunshine coast lawyers

With divorce rates close to 40 percent, Australia’s Family Law system has never been under greater pressure, with many cases taking up to three years to be resolved through the courts.*

For those involved in separation, drawn out and often acrimonious proceedings have serious and lasting consequences for families, both emotionally and financially.

In particular, highly litigious divorce and property settlements can create long-term impacts on the children affected by marriage breakdown. Research shows that these children are more likely to earn less, have babies at an earlier age, and live in multiple relationships.*

Maroochydore family lawyer Micaela Chomley of Garland Waddington Solicitors, conducted a seminar on the new approach this month showing attendees there was now an alternate option for resolving separation disagreements, without the associated costs, delays and emotional hardship of seeking a judicial ruling.

Ms Chomley is the first Sunshine Coast lawyer to work in the field of Collaborative Law, which supports divorcing couples to come to mutually-agreed financial and custody outcomes without court proceedings.

“Around 40,000 children each year are affected by divorce, this approach is important in helping mimimise the devastating impact that separation can have on a family,” Ms Chomley said.

Under the client-driven process, separating couples and their lawyers sign a Participation Agreement which ensures full transparency, respectful behaviour and a commitment not to go to court.

“We then hold face to face meetings where separating partners and their lawyers can discuss all matters in an open, non-confrontational way, with the aim of coming to a fair settlement in the best interest of the whole family.”

Unlike in some other dispute resolution methods, collaboratively-trained lawyers take a problem-solving approach to supporting negotiations, and provide more than just legal advice.

“We bring in other professionals such as accountants, financial advisors, psychologists and counsellors, when necessary, to assist with whatever issues may come up along the way.”

While the Collaborative Law approach to dispute resolution can be used by married, de facto or same sex couples when separating, it is not for everyone.

“We find that this process works best for people who want to spare their children from the emotional damage of the breakup and create the best outcomes for their families,” Ms Chomley said.

“The collaborative approach requires dignity and respect, so does not suit couples in abusive relationships, those with a ‘win at all cost’ mentality, or those who are not willing to be open and transparent about financial matters.”

Garland Waddington Solicitors will host another seminar on Collaborative Law in April. For more information, go to www.garlandwaddington.com.au

 

Sources
* Australian Bureau of Statistics, Marriages and Divorces, Australia, 2014, http://www.abs.gov.au/ausstats/abs@.nsf/mf/3310.0 (25/11/2015).
* Australian Institute of Family Studies, Family Matters No. 30 Effects of changing family structure and income on children, https://aifs.gov.au/publications/family-matters/issue-30/divorce-change-and-children