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The Real Estate Institute of Australia has reacted fiercely to the Council of Australian Governments' proposed new national licensing standards for real estate agents.
REIA president Peter Bushby was "bitterly disappointed" with the proposed reforms, which he argued will "dilute standards within the real estate profession", he said in a statement.
On Friday, COAG released a 264-page Decision Regulatory Impact Statement, in which it outlined national reforms for the real estate industry, to improve cost and efficiency and cut red tape. It aimed to allow property agents to work across jurisdictions without needing to meet differing licensing standards.
The report outlined that there are "up to eight different approaches to setting licensing requirements around the country".
"Different licence classifications, training requirements, licence periods and licence structures commonly apply. These inconsistencies impose costs on those businesses that operate in more than one jurisdiction," the report said.
The REIA dispute the standardisation of the minimum education requirements for real estate agents, from the Diploma Level currently required in some states, to a Certificate IV.
For auctioneers, the report proposed a required three units of study, down from the REIA's recommendation of 12 units.
Bushby said the reform lacked mandated professional development, as currently stands in four states and territories, "and no certainty over how the licensing of commercial agents will operate".
He said consumers would suffer if these national standards of licencing were established. "If COAG continues on this path, the biggest risk is to the consumer. I simply do not understand why the needs of the Australian public have not been taken into account in this process."
Bushby stated the REIA would prefer a national licensing system that requires real estate agents to achieve a diploma level for licensing, and one that requires compulsory continuing professional development and licensing for commercial agency work.
The review is part of the National Occupational Licensing Scheme reform, which will see a series of industries reviewed, with the aim of commencing national licensing in 2014. Other industries under review include plumbing, gasfitters, air-conditioning and refrigeration.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">Smartcompany.com.au</a>.
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REIA fires up against national licensing reform for real estate agents

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As <a target="_blank" href="https://www.smartcompany.com.au/buy-or-sell-a-business/056104-lisa-ho-folds-as-administrators-are-unable-to-find-a-buyer-for-the-iconic-brand">Lisa Ho Designs</a> enters liquidation, it has emerged from its administrator that designer Lisa Ho has bought the intellectual property rights to the brand name.
Lisa Ho Designs entered liquidation yesterday as a result of a creditors meeting, and final entities will be wound up in the next two weeks.
Administrators Barry Taylor and Todd Gammel of HLB Mann Judd Sydney announced they reached an agreement with brand owner Lisa Ho regarding the sale of the majority of the intellectual property of the business.
Gammel said this morning that Ho had obtained the rights to the name and the archive of historical designs. He could not speculate on what Ho would do with the intellectual property rights, stating that was "her decision".
The news follows the separate sale of Lisa Ho eyewear intellectual property to luxury eyewear producer and distributor Face Optics on June 28.
Gammel said in a statement the arrangement with Face Optics will result in a return to the secured creditors of the Lisa Ho business after costs.
"After the extensive sale program, we came to a position that the sale of the IP to the two separate parties was the best way of maximising value for these assets," Gammel said.
"The arrangements also mean that there is an opportunity for the Lisa Ho brand to continue in both eyewear and clothing, notwithstanding the liquidation of the Lisa Ho Group entities and ongoing realisation of remaining assets by the liquidators."
The Lisa Ho retail stores in Sydney and Melbourne closed on July 7, while a final warehouse sale of unsold apparel, samples, archive pieces and unused materials is underway in Surry Hills, Sydney today and tomorrow, July 12. The online retailer division has also shut down.
"New stock has continued to arrive and stock from closed stores consolidated, so there is an opportunity for a great discount on day wear, evening and bridal dresses," Gammel said.
The chief executive officer of the Council of Textile and Fashion Industries of Australia, Richard Evans, said that popular brands with goodwill in the community can thrive if the name is carried on by a new business.
"Lisa Ho was a credible brand for many years and it has a goodwill following among consumers," he says.
Lisa Ho went into administration in May this year, with around 100 staff put out of work. At the time, Taylor said the company had debt of around $11 million.
Last week, fellow Australian fashion brand <a target="_blank" href="https://www.smartcompany.com.au/retail/056338-fate-unknown-for-fashion-brand-kirrily-johnston-under-administration">Kirrily Johnston</a> went into administration, part of a tough run for the fashion retail industry in recent years.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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Lisa Ho Designs enters liquidation as flagship Sydney and Melbourne retail stores close

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The design of your workspace can impact your employees’ feelings of wellbeing and productivity, so it makes good business sense to pay it attention.
Where people sit, meet, eat and what they can see around them all play a role, however many businesses persist with poorly set out offices, where staff sit uncomfortably and in dimly lit areas.
HASSELL principal Matt Blain says changing the work environment doesn’t have to be expensive, but requires creative thinking. He says to ask, what spaces can you provide for your staff? And how can you open up the space to embrace natural light and views?
HASSELL recently won a prize for small office interior design at the INSIDE Festival, part of the World Architecture Awards held in Singapore. The prize was for work on advertising firm Clemenger BBDO’s 750sqm Sydney workplace.
Blain offers his key advice for small to medium businesses on creating a better work space for your employees, without breaking the budget.
<img src="/images/stories/2013/10/08/number-1.jpg" width="20" height="30" alt="number-1" style="float: left;">First impressions count
The reception area is the first impression staff and guests get of your business. Rather than a traditional desk for the receptionist, and walls that hide working spaces, Blain says in the Clemenger space, they opened it up.
In the open-plan entry area, guests can see the staff at work, the busy kitchen area, and see pin-up boards displaying creative work in progress.
Blain says this projects an image of a welcoming, buzzing workplace where the staff are a key advertisement for the approach of the company.
<img src="/images/stories/2013/10/08/number-2.jpg" width="27" height="30" alt="number-2" style="float: left;">The square desk
Many offices are like rabbit warrens, with desks tucked away in corners behind barriers, or with three employees isolated from the rest of the team in an office.
“It was all about opening the space up,” Blain says of the Clemenger project.
The new set up sees employees seated around large, square desks, with around six to eight on each hub.
He explains this enables collaboration via face-to-face discussions, which leads to continual generation of ideas. If staff want to do concentrated work, they can go to other areas of the office, or wear headphones, which is now common practice.
<img src="/images/stories/2013/10/08/number-3.jpg" width="22" height="30" alt="number-3" style="float: left;">Activity spaces
An open-plan design needs spaces for meetings and informal activity, Blain explains.
“The key is having a flexible environment, with brainstorming places,” he says.
In the Clemenger offices, Blain’s team implemented alcoves where small teams can sit and meet with a curtain drawn around them. There are pin-up boards for creative ideas to be put on display, for everyone to comment on.
<img src="/images/stories/2013/10/08/number-4.jpg" width="22" height="30" alt="number-4" style="float: left;">Embrace the kitchen
An open-plan kitchen is the heart of the Clemenger space. It is home to a barista for coffee-making, and lunch orders are delivered there.
While not all business can have a barista, a welcoming, open kitchen is a worthwhile investment. Blain explains that this area is usually buzzing with staff, and they meet to have lunch throughout the day.
<img src="/images/stories/2013/10/08/number-5.jpg" width="22" height="30" alt="number-5" style="float: left;">Let there be light
In the Clemenger office, the brief was to create a sense of a New York loft, that was light and airy. The designers embraced Scandinavian style furniture, neutral colours, raw industrial features and some timber surfaces for warmth.
The trick, Blain says, is to harness available views, make the best use of natural light sources and not to block windows. He says to keep view-lines through the office as clear as possible, rather than enclosing too many areas.
A simple colour palette that is easy on the eye is also a good idea.
<img src="/images/stories/2013/10/08/number-6.jpg" width="22" height="30" alt="number-6" style="float: left;">Don’t blow the budget
Blain says that the cost of re-doing an office space doesn’t need to blow out. He advises working with existing furniture where possible, scouring eBay and other second-hand sources for inexpensive items and simplifying finishes.
Depending on the extent of change, expert advice could be worth the investment.
This article originally appeared on <a href="https://www.smartcompany.com.au" target="_parent">SmartCompany</a>.
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Six top tips for the ultimate workplace design

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Whether you’re in Melbourne, Perth or elsewhere around the country tomorrow, it will be hard to escape footy fever as Hawthorn and Fremantle battle it out for the 2013 AFL premiership.
Footballers are worshipped by die-hard fans, however, like any other physically tough athletic pursuit, their time in the spotlight can be brief. Therefore, giving players advice on planning for life beyond football has become a key focus of football clubs.
When they hang up their boots, many stars of the field go on to run their own business – with their celebrity status giving their ventures a good kick off the ground. Some start their companies on the side while still playing, in order to capitalise on the public’s good will. No doubt the discipline, teamwork and marketing savvy they learn from the game helps in their pursuit.
We've has gathered a list of some of the most interesting football-to-business ventures in recent times.
1. Up and coming
Melbourne Football Club players Joel Macdonald, James Strauss and Rowan Bail are teaming up off the field to launch their own business called Liquorun. As the name suggests, it is an alcohol delivery service which will see customers order their beer, wine and spirits online, and have them delivered to their door. Here’s the point of difference though – they promise to do so within the hour.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/planning/business-planning/afl-players-set-to-launch-a-start-up-to-deliver-alcohol-within-the-hour-to-your-door/2013071710240">Macdonald said</a> the idea was hatched over a post-training coffee brainstorm.
“A little while back, I was involved in an altercation in a taxi rank in Brisbane and ended up getting arrested,” Macdonald said. “I had this vision that the hospitality and late-night transport industry needed a bit of a shake-up.
“Straussy [James Strauss] had a night where he was drinking with a couple of mates and they ran out [of alcohol], and the night ended because they couldn’t drive to a bottle shop and it was too far and a bit risky to walk.”
Macdonald, Strauss and Bail have partnered with a 24-hour bottle shop in Melbourne and venture technology group Blue Chilli. They plan to launch Liquorun in Melbourne in October, followed by Sydney and Brisbane.
Hawthorn star Cyril Rioli is also involved in a brand-new venture, <a target="_blank" href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/technology/websites/three65-underwear-aims-to-make-cheap-mens-undies-cool/2013090410634" rel="nofollow">with StartupSmart reporting</a> he is a shareholder in online men’s underwear subscription service Three65 Underwear.
2. On your bike
There must be something in the water at Melbourne Football Club, as player James Magner has also ventured into the business world.
<a target="_parent" href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/growth/start-up-profiles/glow-fixie-founder-afl-player-james-magner-from-melbourne-football-club-says-be-passionate-about-new-business/2013091710735" rel="nofollow">He said</a> that while looking to upgrade his bike, he came across glow-in-the-dark fixed single-gear bikes, known as ‘fixies’, which were sold in the US.
He was inspired to import and sell the colourful bikes online, so launched Glow Fixie, appealing to the inner-city “hipster” crowd.
“I thought ‘that’s a pretty awesome point of difference’,” Magner said.
3. Behind the bar
Running pubs, nightclubs, cafes and restaurants has been a common theme for ex-players over the years. Former star-player and Western Bulldogs captain Luke Darcy has followed this lead. He is involved in his family’s business the Darcy Group, which runs a chain of Melbourne-based hotels. These include The Precinct in Richmond (a stone’s throw from the heart of football, the MCG), and The Motel nightclub in South Melbourne among others.
In August he told <a target="_blank" href="https://www.smh.com.au/small-business/managing/what-luke-darcy-did-next-20130813-2rufq#ixzz2g310j7pH" rel="nofollow">The Sydney Morning Herald</a> that a profile from playing football can help in business pursuits.
“There’s been a long history of footballers buying into pubs. I think it’s probably because of the idea that if you’re trying to attract patrons then someone with a profile would make a good publican,” he said.
4. In fashion
He’s admired on field as much for his prowess as his striking looks, so it’s no surprise Hawthorn star Lance ‘Buddy’ Franklin has a side career in running a fashion brand.
He’s behind unisex street-style fashion label Nena &amp; Pasadena, and reportedly owns a fashion boutique, the Neverland Store, in Melbourne’s trendy retail precinct, Chapel Street.
His fashion brand, which he often models for, has <a target="_blank" href="https://www.smh.com.au/lifestyle/fashion/lifeguard-booted-off-bus-over-buddybrand-tshirt-20130709-2pnm0" rel="nofollow">sparked controversy</a> over the past few years for its provocative prints on T-shirts.
Also in fashion, Hawthorn’s Michael Osborne is cofounder of Melbourne-based pyjama company Sleep'n Round, which launched in 2009, and which also has a store in Chapel Street.
5. Money and suits
In the 1990s, Chris Langford was a star on the field for the Hawthorn Football Club. In 2011, he cofounded Newmark Property Group, a Melbourne-based business which is involved in property funds management and development.
Similarly, embattled Essendon coach James Hird is involved in the corporate world, as a non-executive director of savvy marketing group Gemba.

<hr>
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
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From the footy field to running a business – star AFL players who’ve taken the leap

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Fashion brand Bettina Liano is up for sale, following the appointment last week of administrators for the second time in recent years.
Administrators Richard Albarran, Brent Kijurina and David Ross from Hall Chadwick in Sydney are seeking “urgent expressions of interest” to purchase the business and/or its assets.
They have listed the label’s 24-year history, sale of goods via Myer department stores, strong brand recognition and consumer goodwill as key selling points. Stock and inventory, registered trademarks and the customer database are all part of the sale.
The administrators for the eponymous brand said in a statement they are working with the director regarding a proposal for a formal restructure of the company via a Deed of Company Arrangement.
“The administrators will commence a marketing campaign for the sale of the company’s business as a going concern. The administrators are currently continuing to trade the business as a going concern to maximise the return to creditors,” the statement said.
The first creditors meeting will be held in Hall Chadwick’s Melbourne offices on Friday, October 4 at 11am.
The eponymous label first went into administration in 2011, but recovered following a deal with Sydney-based clothing manufacturing business Apparel Group to design, manufacture and wholesale the brand.
A spokesperson for Apparel Group said yesterday that they were not aware of the latest administration announcement, and that nothing had changed with the agreement with the brand.
Apparel Group was contacted for further comment today, but no reply was received prior to publication.
Through the deal, Liano was to maintain control of her business – both the Bettina Liano label and youth diffusion label T by Bettina Liano – and retain the role of creative director for both brands.
Bettina Liano launched its first store in 1990. Recently it has experienced a turbulent few years that saw the brand close all but one of its Australian retail stores in favour of opening a New York store.
The closures included its original Chapel Street, Melbourne, store, which had operated for 23 years.
<a href="https://www.smartcompany.com.au/strategy/049928-bettina-liano-escapes-administration-and-stitches-up-a-new-deal-three-companies-that-have-hung-on-to-their-founders">Liano said in February this year</a> that the decision to move overseas was linked to Australia’s expensive retail rents. The designer said she was paying $25,000 a month for rent in Melbourne’s Chapel Street.
“It’s sad, but I’m going to come back and by the end of the year I’m going to reopen stores,” Liano said in February 2013. “I just want to pay good rent; Melbourne is not worth what they are charging at the moment.  
“At the moment in the States it is like repeating how I started in Melbourne, there were empty stores going cheap. In Australia, in the last 12 months, I have been on sale for the last 12 months; it is just so price sensitive.”
At the time Liano said she wanted Bettina Liano to become a global brand with international trends and styles at the core of the seasonal collections.
In addition to the New York store, she intended to open sites in San Francisco, Los Angeles and Miami.
“I am just looking for volume in the market, I feel that I outgrew Melbourne in particular and I have been banging the drum for 23 years. I feel like I could do with a new audience and I’m confident that what I do is different enough from everyone else to be able to sell it [in the United States],” she said.
Liano said in January this year she had faced a “chronic delay with my suppliers”.
“I didn’t get delivery of a summer season until the first week of January so that just killed me – I don’t know how long you can sell a sweater for,” she said.
Liano said in early 2012 that the 2011 administration was a harrowing experience.
“I lost most of what I worked 25 years for, I lost millions of dollars in equity and I'm trying really hard. I’m not a crook.
“I was solely responsible and no one could help me except for me.
“It was harrowing and it was like walking a tightrope: it was like a 50-foot wave surf movie, when you fly down the face off a wave. I just flew down the face and I didn’t wipe out and now I am paddling back out.”
2013 has been a tough year for Australian fashion brands, with fellow womenswear labels <a href="https://www.smartcompany.com.au/retail/056338-fate-unknown-for-fashion-brand-kirrily-johnston-under-administration">Kirrily Johnston</a> facing administration and <a href="https://www.smartcompany.com.au/buy-or-sell-a-business/056851-phoenix-issue-rises-to-plague-lisa-ho-following-the-brand-s-collapse">Lisa Ho being forced to shut down</a>.
Bettina Liano is known for its denim wear, sharp tailoring and fashion forward looks for women.

<hr>
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
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Fashion brand Bettina Liano up for sale

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Spring shone on the property market over the weekend, with auction clearance rates up in both Melbourne and Sydney.
Results from Australian Property Monitors (APM) showed Melbourne auction clearance rates at 80.1% (up from 72.6% last week) and for Sydney at 86.3% (up from 79.2% last week).
The results were up dramatically on the same weekend last year, which saw auction clearances at 62.6% for Sydney and 61.2% for Melbourne.
The Real Estate Institute of Victoria (REIV) recorded a clearance rate of 78% across the state, up from 74% last week and 59% compared to the same weekend last year.
Markets were still slower in Brisbane with clearance at 31.3%, down from 43.2% last week. The result for Adelaide was not yet recorded.
APM senior economist Andrew Wilson said this morning that the results for Sydney and Melbourne show the markets are on the rise, particularly Melbourne which he says has “shifted up two gears”.
The first rise was to clearance rates in the 70% range, now it is sitting in the 80% range.
“It is moving into strong territory,” Wilson says. “It shows the enthusiasm in the market, and the impact of the low interest rates.”
Wilson says there were higher property listings in Melbourne, which also demonstrates enthusiasm from sellers and more confidence. However, he says it is still not at the same level as peaks of 2009, 2007 and 2001.
The REIV reported that 837 houses were up for auction across the state on the weekend. Wilson says this is in high contrast to next Saturday, September 28, which will see the property market “pause and reflect” due to the Australian Football League grand final. There will only be around 50 to 60 auctions listed.
For Sydney, Wilson says the weekend results were “almost at record levels”.
“Sydney is on track for its strongest spring ever. It is averaging over the 85% clearance mark.”

<hr>
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
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Property sales buoyant ahead of a pause for footy fever

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The Melbourne Cup may stop the nation, but the economic impact of the event races ahead for many industries.
Consumer spending on fashion, gambling, food and entertainment is forecast to be up this year, <a target="_blank" href="https://www.smartcompany.com.au/growth/economy/34104-fashion--food--gambling-and-beauty-set-for-spring-racing-win--but-tourism-could-fall-behind">according to industry analysts IBISWorld.</a>
IBISWorld predicted in October that positive post-election consumer confidence will see Melbourne Cup Carnival spending increase by 3.5% this year to $455.5 million.
It expects fashion to be the fastest growing expenditure segment, increasing 13.9% on 2012 spending to $53.2 million.
The other key industry set to benefit is betting, with punters attending the Melbourne Cup Carnival expected to boost gambling spend by 12.4% to $68.1 million this year. Overall betting on the event is forecast to reach $806 million, an increase of 7.4% on 2012 figures.
Trackside food and beverage spending is predicted to lift by 3.3% to $167.9 million.
The Carnival reaches its peak today, with the Melbourne Cup horse race. Other key days include Derby Day (last Saturday), Oaks Day on Thursday November 7 and Stakes Day on Saturday November 9.
The Victorian Racing Club, organisers of the Melbourne Cup Carnival, released a statement with their analysis of the economic impact of the 2012 event related to tourism.
It reported that the Flemington-based event generated a value-added contribution to Victoria’s gross state product of more than $176.58 million.
This figure quantifies the money spent through Victorian businesses by out-of-state visitors specifically on purchases for the four race days.
The VRC said the Victorian economy benefited from $366.15 million in financial stimulus (gross economic benefit) generated by the Melbourne Cup Carnival, an increase of 4.9% from 2011.
It said that nationally, the event generated an economic benefit of more than $751 million in 2012, an increase of 0.7 per cent compared to 2011.
However, while some industries, particularly in Victoria, are set to profit, others may suffer due to low workplace productivity as people stop to watch the race.
AMP Capital Investors head of investment strategy and chief economist Shane Oliver did an on-the-spot calculation for SmartCompany. He suggested that if employees around the nation cease to work for half a day after watching the race, it could lead to a 0.2% drop in GDP.
“The losers are in the other states [not Victoria] where it is not a public holiday, but people may not do any work after lunch time,” he says. “Chunks of people leave work after the race.”
He speculated that office workers may be the prime culprits, as the nature of factory and services industries mean it is harder to step away from tasks.
“They may have bosses more likely to encourage them to get back to work,” he says.
Oliver says the counter argument is that the race brings a boost to consumer spending, is a great benefit to the horse racing industry and related services.
Another “offsetting positive” is the boost to the national psyche.
“You can do the maths… but a day like this can boost the national psyche and feelings of wellbeing,” he says, referring to other national sporting events that unite people.
Pitcher Partners partner Adrian Clerici agrees that the impact of the event on productivity can be countered by the chance for people to take a break, or if at work, to stop and socialise with co-workers for the afternoon.
“I think the idea of the impact of people slacking off is overplayed,” he says.
“With the digital world people are doing work at all times at home.”
And what will the economists will be up to?
“We will be watching the RBA (Reserve Bank of Australia) this afternoon – first Tuesday of the month is rate day,” says Oliver.
However, Clerici will be enjoying the race, not the rates.
“We don’t expect any rate change today…there hasn’t been one on Melbourne Cup Day for around five years,” he says.

<hr>
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
 
 
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The economic winners and losers of the Melbourne Cup

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Dairy giant Fonterra Australia has rescued <a target="_blank" href="https://www.smartcompany.com.au/growth/economy/33854-tamar-valley-dairy-goes-under-following-turbulent-times">Tamar Valley Dairy from administration</a>, acquiring the assets of the Launceston-based yoghurt business.
Fonterra will take on the processing equipment, related services, intellectual property and trademark for the Tamar Valley Dairy brand. The amount paid was not disclosed.
The acquisition will be effective from late November, subject to completion of the sale.
<a target="_blank" href="https://www.smartcompany.com.au/growth/economy/34398-fonterra-buys-stake-in-bega-cheese-david-jones-enjoys-sales-lift-midday-roundup">Last week Fonterra also bought a 6% stake in Bega Cheese</a>, causing the Australian dairy business’s shares to lift 9.75% in early trade.
Fonterra said in a statement it had purchased 9.3 million shares in Bega at $4.95 a share, equating to a total cost of $46 million. Bega is one of three businesses locked in battle for Warrnambool Cheese and Butter Factory.
Fonterra managing director Judith Swales said the two companies had worked closely with the administrators to push through a difficult period for the Tamar Valley Dairy and its founders.
“The founding family has created a business with strong capability and innovation, known for producing new yoghurt formats and formulations, and in a relatively short timeframe they have built a national brand in Tamar Valley Dairy,” Swales said.
Details regarding roles for employees and the transition of company operations are still to be refined. However, Fonterra, which currently operates the Nestlé SKI brand, has confirmed the Tamar Valley Dairy site will be fully integrated into Fonterra’s Tasmanian and Australian manufacturing operations.
This will enable the business to create “greater efficiencies and scale, while ensuring that Tamar Valley Dairy’s innovation and its Tasmanian origin continues”, the company reported.
Fonterra has announced it will invest in manufacturing assets, as well as upgrading quality and safety systems. It also reported it will invest in people and further innovation in the yoghurt product range.
Tamar Valley Dairy went into administration in late September, with Deloitte Restructuring Services partners Glen Kanevsky and Tim Norman appointed.
The 17-year-old business was established in 1996 near Launceston, Tasmania and has 170 employees.
At the time Kanevsky said the business operated in an “extremely competitive sector” and that it had been challenged due to a “slowdown in sales and pressure on margins”.
Tamar Valley Dairy produces a variety of yoghurt products including classic, low fat and Greek varieties. It has been stocked in major retailers including Coles supermarkets, with its own brand and private label offerings.
In April this year the business was reported to have financial challenges, with founder Archie Matteo confirming with The Australian that his family company owed creditors and suppliers several million dollars as part of a “short-term liquidity problem”.
Fonterra operates two manufacturing facilities in Tasmania, and reports that it is responsible for processing over half of Tasmania’s milk. It collects almost 500 million litres of milk from almost 260 dairy farms each year, and employs 220 people.
Over the last two years, Fonterra has invested $20 million in these operations.

<hr>
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
 
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Fonterra saves Tamar Valley Dairy from administration

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It is not sunny in Surfers Paradise when it comes to mortgage delinquencies, with the beachside Queensland city proving the worst for mortgage delinquencies across the country.
A report by Fitch Ratings found that in the six months to September this year, Surfers Paradise became the worst-performing postcode when it comes to arrears on mortgages.
The area had a 30-plus day delinquency rate of 4%, <a target="_blank" href="https://www.smartcompany.com.au/growth/economy/32456-mortgage-delinquencies-rise-in-first-quarter-the-nation-s-worst-performing-postcodes-revealed">replacing Nelson Bay in New South Wales</a>, which was the highest delinquency area in the first half of this year.
Regional Western Australia proved to be a deteriorating area, with delinquencies up to 1.76%.
The report said this area has experienced an increase in unemployment and declining house prices over the six months to September 2013, which contrasts with the rest of the western state.
It also found that other regional areas in New South Wales and Queensland have not improved as much as the rest of Australia.
Across the country overall, mortgage delinquencies were down to 1.25% for the period, from 1.45% at the end of March this year.
The figure is below the six-year average of 1.52%, but still above the 1.2% compared to the end of September 2012.
Tasmania was found to be the overall worst performing state, with 30-plus day arrears in Tasmania improved by only three basis points to 1.51% at start of September 2013.
The worst-performing region nationally was Hume City in Victoria, with a 30+ day delinquency rate of 2.10% at end-September 2013.
This replaced Fairfield-Liverpool in NSW, which Fitch Ratings reported has been the worst-performing region over the past seven and half years.
Fitch Rating’s James Zanesi told SmartCompany this morning that the rise of Surfer’s Paradise for mortgage delinquencies was not a surprise.
He says it took over Nelson Bay, which had held the post for seven years, as some coastal properties that had been very slow to sell in Nelson Bay were finally sold.
Zanesi says some properties took nine or ten months to get picked up by a buyer, which severely impacted the ability to repay mortgages in certain areas. He explains that a delinquency is measured at either one month of late repayments, or up to three months of late repayments, which suggests that the mortgage cannot be paid.
In regional Western Australia, Zanesi says mortgage delinquencies could be related to the mining boom, with people investing heavily in property, but as the boom dropped so did the ability to repay.
Zanesi expects the next six months of results to show the impact of the Christmas spending season, which can cause people to get behind on repayments.
Not surprisingly, the most affluent regions had the lowest mortgage delinquency rates, with lower northern Sydney, south east inner Brisbane, northern middle Melbourne and central Perth the best regions.
The delinquency rates in these regions were in the 0.45 to 0.74% range.

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This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
 
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Surfers Paradise the worst postcode for mortgage delinquencies

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The Coalition looks set to abandon its target to return the federal budget to surplus within four years, as it hits 100 days in power.
Tomorrow, the federal government will release its Mid-Year Economic and Fiscal Outlook, ahead of which Prime Minister Tony Abbott has suggested to media that achieving budget surplus by 2017 will be unrealistic.
Despite pre-election talk of returning the budget to surplus, Abbott appeared to back-pedal on timeframes, as reported in The Australian Financial Review.
“We said we would return the budget back to surplus at least as quickly as Labor had proposed. What we are discovering the more we dive deeply into the budget is the extent of Labor’s fiscal disaster,” he said.
The forecast deficit could hit more than $40 billion, The Age reported.
He told radio that tomorrow’s fiscal outlook would reflect the management of the previous Labor budget.
"Next year's budget will put us back on a path [towards] a sustainable surplus," Abbott said.
''We are purposefully, carefully and methodically putting in place policies to help families by reducing their cost-of-living pressures, improving job security, encouraging small business and delivering better services,'' Abbott said, as reported in The Age.
Council of Small Business of Australia chief executive Peter Strong told SmartCompany he was not concerned about a surplus delay as it was the “sensible and proper thing to do”.
“Internationally we don’t have the same debt as other countries, and we dealt well with the GFC, so we don’t want to achieve a surplus for the sake of it,” he says.
“It is important to keep the balance and to keep up the standard of government services.”
Strong was more disappointed about cuts to the <a target="_blank" href="https://www.smartcompany.com.au/legal/33371-coalition-to-scrap-instant-asset-tax-write-off-and-loss-carry-back-measures">loss carry-back tax</a> and the instant asset tax write off, which he says will have a greater impact on small business.
He says the government should find alternative ways to fill the financial hole, such as taxing digital purchases online including music and eBooks, and ensuring that major businesses do not dodge taxes.
A spokesperson for the Business Council of Australia said they would not speculate on tomorrow’s findings, but would comment after the official release.

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This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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Melinda Oliver

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