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
