In a sluggish economy when redundancies are not uncommon and some businesses are letting go of employees as a method of maintaining financial viability, what options might there be?
Self-employment, strange as it sounds, is one of the most viable options in a contracting employment market. Do you have a skill or even an unusual set of skills which might be put to work? Can you see where a business idea that may have seemed crazy a few years ago, might well come into its own now, but you’re not sure what the risks are or even how to go about assessing your potential market?
The Northland Business Development Trust (NBDT) was created in 1989, the last time there was a slowing of the economy.
Why don’t you know about NBDT? Why is there not a list of the companies, some now quite large, which they’ve nurtured into being, included here? Because their prime tenet is confidentiality. No-one wants their business activities and problems spread about in the public arena and NBDT respect that. Your discussions with them are private; so private that they cannot advertise their exceptional success. But that does not reduce their professionalism or the quality of the service they offer. Why? Because the purpose of NBDT is to get businesses up and running and thereby create employment.
Here’s how it works.
First make contact, either by phone or personal visit to their office in Rathbone Street. You outline your idea and they discuss it with you and help you through the viability process. There are a number of things to consider including tax, GST, limited liability or partnership, insurance, legal, accounting, etc. You’ll be set on to the correct path so that you don’t fail.
If, when you present your idea, it isn’t viable, you make an informed choice whether to go ahead in business or not. It’s a lot better to walk away saying I didn’t realize what was necessary, than to fail and believe as a result that you don’t have what it takes. You do! You need a good idea…and assistance.
If the idea is a goer, NBDT then move into a mentoring role. You’ll need to create the business plan according to what you now know is necessary and then you bring it back for the next step. This is where the StartRight course is invaluable.
NBDT run a StartRight course which takes up two nights a week for six weeks, and if required, the occasional Saturday in order to catch up one-to-one with a tutor. The course includes speakers from the IRD, successful business owners, etc., marketing information, stress management, business plans, franchising information, time management, consumer rights, the accountants point of view, visits to business sites and everything else you need to confidently step up to the plate.
NBDT also works with small businesses who are struggling or in serious trouble. Using their broad networks, they are able to source the specific specialist required to diagnose the problem in your particular business, something like Kitchen Nightmares without the swearing or TV cameras. The troubleshooter will assess your situation and may call on other specialists to help correct the problem.
If you should find yourself in the business position of silently screaming ‘Help,’ NBDT is definitely a great first call…and remember, it’s absolutely confidential.
So, who are these people and what else does NBDT do? There are seven business experienced trustees alongside the Executive Officer, Wayne Stead, who has been with NBDT for four years.
Pete Bielby has a Bachelor of Business Studies earned at Massey University. He spent four years in the South Island as area sales manager in business development and his passion is small business, ‘because it’s the starting point.’
Tina Pointon is the course co-ordinator and is involved in the community and Lions. Tina keeps in touch for business advice follow-up.
Blanche Thomson is the only full-time employee at NBDT. She acts as administrator for the Trust but is also knowledgeable and highly experienced with start-up business through many years of being the first, and oft-times the only, point of contact.
The Northland Business Development Trust works right across Northland with their current furthest flung clients in Kaitaia, and going the other way, in Kaiwaka and Warkworth. The Trust is funded from a variety of sources, generally on a contract basis. Funding is specific and is applied to running courses such as Business Boost!, Be Your Own Boss, Home Ownership Education Courses (free),and others.
Funded by Housing NZ, the Home Ownership Education Courses provide real insight to the business of purchasing and owning a home; now a potentially more affordable option than renting since interest rates and house prices have begun to fall.
Business Boost! is initially a free business development programme and can be accessed by new, existing or community businesses. The programme focuses on making your business run smoother and teaching you how to make it grow. Business Boost! also looks at the possibilities for assisting rural and cottage industries to forge links into the urban market.
Now, about that self-employment or business idea you have…first foot on the bottom step and the next step will become obvious. The Northland Business Development Trust encourages you to look at your options. You probably have many more than you realise if you can just get past the idea that it might not work. What if it could?