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107August 8- 9, 2015 WESTBUSINESS
FOR SALEby Offers to Purchase Closing 4pm WST Thursday 27th August 2015
Beeliar Shopping Centre28 Lakefront Avenue Beeliar WA
• 100% Leased Investment – Tenancies include IGA, IGA Liquor, Westpac, Medical Centre, Pharmacy, News/Lotto plus Specialty Tenancies.
• Total Annual Income Approximately $696,992pa net plus GST• Modern Convenience Shopping Centre in Established Location
ContactJeff Braddock 0412 934 694
#14W2949087-5/8
C O M P E T I T I O N
Years 7-12
What do WA’s young people have to say about the world we live in, and life in general?Express your thoughts and opinions about local or global news and issues.
WE WANT YOUR:• OPINION ARTICLES • LETTERS TO THE EDITOR • EDITORIAL CARTOONS
News, views and issues
You could be chosen to be a guest editor of The West Australian! WIN
$100
how would you how would you change the world?change the world?how would you change the world?
Further details can be found online at education.thewest.com.au/competitions
Entries close Friday September 11
PHONE 9482 3717 EMAIL [email protected] ONLINE education.thewest.com.au
20
15
Sponsored by:
2865
603π
JRBK
0606
15
ACCOUNTING PRACTICE - PERTH
• Annual Fees circa $1.5 million, comprising accounting and business services, company secretarial, directorships and consulting
• Public and private companies• Experienced Staff • Plant & Equipment
FOR SALE
Zircom
EXPRESSIONS OF INTEREST INVITEDContact David Screaigh on 0409 113 814 or [email protected].
At the height of the miningboom, Go West Tours made asmart investment.
It spent some of the boomwindfalls on technology tohelp protect its future.
The tailor-made software, a$250,000 charter managementsystem, helps Go West trackevery aspect of its Statewidefleet, which now stands at 250.
Go West general managerDavid Haoust, son of companyfounder Stan, remembers wellthe 2008 decision to buy thesoftware, which he creditswith having helped the Bun-bury business adjust to thecyclical downturn.
Not only does the softwarehelp with maintenance of GoWest’s fleet, it also enables thecompany to keep tabs on util-isation rates and which vehi-cle or contract is not pullingits weight.
“We look at every single veh-icle in the fleet, if it’s not mak-ing us enough money or is
costing us, we will offload it,”Go West’s second-generationleader told WestBusiness aspart of an occasional series onmembers of the Family Busi-ness Australia organisation.
From humble roots in 1990with one second-hand Toyotabus, trading as Ride A Rain-bow and based in a Bunburyservice station, Go West hasgrown to become one of Aus-tralia’s biggest vehicle passen-ger transport companies.
Although the fleet size andturnover have fallen fromabout 350 buses and $35 mil-lion during the peak of the
mining boom, Go West’s diver-sification strategy has servedit well. So did the Haousts’ adherence to keeping theirbalance sheet conservativelygeared, by ploughing profitsback into the business.
Mining industry contractsstill play a huge role but so dotourism and governmentcharters, such as school runs.
Go West transports about3.5 million passengers a year.
When it came to reducingfleet and staff numbers toreflect the changed economicconditions, it was the chartermanagement system thathelped ensure the cuts weremade in the right place.
“It was an interesting exer-cise,” Mr Haoust said.
“From a father-son perspec-tive, I have always been pro-technology. And luckilyenough I have a father who isvery pro-efficiencies.
“Ultimately, with customerservice you just have to makesure your customers are happy all the time.”
Technology keeps wheels turningt Peter Klinger GO WEST
TOURS■ Est 1990■ 1st generation in charge■ Based in Bunbury■ Turnover $20 million■ 180 employees
fambiz.org.au
Smart investment: Go West Tours owners Stan and David Haoust. Picture: Jon Gellweiler
Liftout every Tuesday in The West
Australian
Kiwi retailer Briscoe is leaving itsoffer for outdoor wear chain Kath-mandu on the table, despite a coolresponse from its takeover target.
Kathmandu’s board has advisedshareholders to reject Briscoe’scash-and-scrip offer of about $318million on the grounds it underva-
lues the company. Its biggest insti-tutional shareholder, GoldmanSachs Asset Management, has saidit should reject the offer. Even so,Briscoe managing director RodDuke said the offer reflected fairvalue and it remained on the table.AAP
Kathmandu offer ‘still on table’
FinancialServices
BIZ CASH FLOW FUNDINGShort/long term difficult loansprivate & non conformingfunds available. ACL370981Contact Peter: 0418 944 910
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PARLIAMENTARY INQUIRYBANKING
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Karen 0408 916 100(08) 9370 5058
Critics of payday lenders havewelcomed the Federal Govern-ment’s review of the sector as anopportunity to further reduce itsexorbitant interest rates.
The Consumer Action LawCentre, which has urged tighterregulation of the payday indus-try, said it would like to see thenational caps on small loanslowered to alleviate the financialpressure on vulnerable lenders.
CALC chief executive GerardBrody described as “very gener-ous” the fee restrictions intro-duced in 2013 capping paydaylending to monthly fees of 4 percent of the amount loaned, plusan establishment fee of 20 percent of the amount loaned.
“We would like to see a capthat’s more likely to have influ-ence on the sector,” Mr Brodysaid. “Instead of a short-termloan, offering a longer-term loanwith smaller repayments.”
The review announced byAssistant Federal TreasurerJosh Frydenberg yesterday willexamine the “effectiveness” oflaws governing so-called smallamount credit contracts andmeets a statutory requirementunder the national Credit Act.
It will be chaired by Equip-super chief executive DaniellePress with the assistance of fel-low panel members CatherineWalter, the deputy chair ofFunds Management Victoria,
and Stephen Cavanagh, a part-ner at law firm HWL Ebsworth.
Mr Frydenberg told ABCRadio that while he recognisedthat payday lenders played “animportant part in the economy,in giving people access to creditwhere they may not be able toaccess it through mainstreamfinance”, the rules “need to pro-tect vulnerable people”.
The industry’s high interestrates and charges have long beena source of contention, along
with lending standards.In March, the Australian
Securities and InvestmentsCommission warned some len-ders faced enforcement actionunless standards improved.
Perth-based Cash Converterssaid the review would remove industry uncertainty created byconsumer advocates.
“We support sensible regula-tion that protects people whoseek credit choice and protectsour license to operate,” it said.
t Sean Smith
Payday critics seek protectionCREDIT CHOICE
