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Her Magazine April/May 2013

Her Magazine is New Zealand’s only women’s business lifestyle magazine! Her Magazine highlights the achievements of successful and rising New Zealand businesswomen. Her Magazine encourages a healthy work/life balance.

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Deloitte growth insights from Fast 50 companies 2012 "If Mainzeal hadn't taken on so many large scale projects they may have been able to work through the issues at hand." What can we learn… There are two groups who can learn from this: the sub-contractor groups who were affected by and a stakeholder to the collapse, and the company itself. Sub-contractors: lessons on how to protect themselves against liquidation and receivership. Many sub-contractors have clauses in their contract agreements giving them the right to register goods supplied on the personal Property & Securities Register (PPSR). Evidence shows few actually do this. By registering to the PPSR sub-contractors will retain their property rights. This includes any items supplied to a third party which they (the third party) haven't paid for. It is the best method sub-contractors can use to protect themselves against liquidation and receivership. Some contracts have terms and conditions which try to retain items but unless these provide a right for you to register your interest on PPSR they are meaningless. Companies and entrepreneurs: the lesson is more of an understanding of the business world. You can't always predict what's going to happen. External forces and unforeseen circumstances can upset even the best plans in place. Business is all about taking risks and searching for opportunities. Sometimes these risks and opportunities pay off and sometimes they fail, the world is a dynamic place – there is no perfect business model that can be sustained forever. The environment and market is constantly changing and require adaptations. This is all to do with the turnover and evolution of business. Mainzeal needed to boost their profits and so they took the opportunities given to them. Unfortunately, they took on too much and weren't able to predict the external market forces that were to affect their entire business. Planning for the future, making good ethical decisions and constantly working hard at your business are all key to creating a business of longevity. Sources: www.nzherald.co.nz, Fairfax NZ News, www.pwc.co.nz/mainzeal, The National Business Review – www.nbr.co.nz, www.deloitte.com Every year Deloitte celebrate business success by producing a document of the top 50 most rapidly growing companies in New Zealand. Rankings are based on revenue of the last three years. In their document, Deloitte also analyse the trends and themes of what it takes to be successful in the current year's business environment. Themes for the growth insights 2012 included: • Diversity • Innovation • Opportunities • Dedication •Technology and connection – making use of the new cloud space. •Overall trend for companies success: Be bold, stick with what you know, and walk the walk. What CEO's from Fast 50 2012 have said on being successful: Heightened awareness and increased collaboration is needed in today's business environment – Matt Freeman, Founder and Managing Director of Freeman Media. A lot of flexibility is required in business to adapt to external circumstances – Dene Biddle Combe, CEO of Pulse Utilities NZ. Have great people, the right attitude and vision as well as a great Kiwi product – Dean McCashin, Co-founder of McCashin's Brewery. For updates on receivership status: www.pwc.co.nz/mainzeal www.h e rmagaz in e .co.n z | 43

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