Surviving and Thriving   Print House Ltd
From Left: Jared Eyes, NBNZ Commercial Manager; Brett Phillips, Print House CEO; Keith Goddard, NBNZ Regional Manager Commercial.
Businesses are finding that the economic environment is affecting them very differently: some are finding the going tough; others are experiencing growth. When the National Bank was looking for an example of the latter, they turned to Print House Limited.

The National Bank's Waikato Commercial Banking team provides banking solutions to established, medium-sized companies in the region. Their approach is based on offering market knowledge through strong relationships; frequent conversations with customers are key.
Keith Goddard, National Bank Regional Manager Commercial, says that the sharply changed market conditions are naturally a prime topic of discussion.
"We see some companies whose focus is on controlling their day-to-day activities, while others are enjoying rapid growth in new markets or sectors. The experience is by no means the same for all businesses."
"We're adopting a pro-active stance to the market conditions at the moment. We're in frequent contact with owners and make sure we're having in-depth conversations so that we understand our customer's business and what's affecting them. Some customers are seeing opportunities for consolidation or expansion. It's about being aware of the financial risks, and being able to manage them."
When The National Bank was looking for an example of a Waikato business doing well in the current environment, to feature in an upcoming customer publication, they selected Print House.
"Print House is using many of the strategies we recommend to customers as beneficial for the long term," Keith Goddard says.
"We see many more examples of successful companies with Boards and independent directors than those without. Companies aiming for resilience and future growth need to be tapping into the experience of people who have previously worked through changing business cycles. Previous owners, or independent directors with complimentary networks together with business skills, can add value and help the company's managers make the difficult decisions."
Print House has had an independent director for many years, whose marketing and business background complements the printing industry skills of the other Board members.

The National Bank passes on their tips to companies managing their way through the turbulent market:
  • There is great experience in the New Zealand business community - people who have experienced similar conditions in the past. If you don't have access to such people, look at avenues such as involving a mentor, or joining a business owner's forum.
  • Confront the brutal facts facing the business head-on - there is no room for complacency in these conditions.
  • Strong financial systems and management reporting are critical.
  • Identify the easiest 10 percent of costs to take out of your business - and do so.
  • Love your customers, now more than ever, and do what you can to encourage them to protect their revenue streams.
  • Seek efficiencies in your supply chain, do what you can to speed payments in, and to obtain more advantageous terms with suppliers.
  • Be nimble. Can fixed costs be moved to variable? Consider your options.
  • Have people around you that you can depend on.
  • Boards of directors are there to make the hard calls and add value. If you don't have a Board, or other access to independent advice, now is the time to address that.
  • Assets are re-pricing. Be open to opportunities for astute purchases.
  • Communicate regularly with your banker!

The National Bank, part of ANZ National Bank Limited



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