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Bank-able NZ™ Success Stories

Bank-able NZ™ is a unique concept developed by Opportunity Hamilton in partnership with the Ministry of Social Development, the Ministry of Economic Development, WEL Energy Trust and commercial banks.

Millennium Painting and Decorating - Standing on their own feet

With assistance through the Bank-able NZ™ Securisation Scheme, Nedad Novo who immigrated to New Zealand four years ago as refugee from the conflict in his homeland, Bosnia, and his New Zealand born wife Fiona have consolidated and grown their painting and decorating business. They now employ 8 staff, and have also managed not only to pay back their overdraft facility to the Bank-able NZ™ pool, thus leaving the door open for another business opportunity in Hamilton, but also to build their own home. ‘It has always been my dream to build a home of my own for my children’ says Fiona. The Novo’s also acknowledge the skills shortage in Hamilton and thanks to the good relationship they have built up with their bank, they have set up a separate bricklaying business enabling them to sponsor six others from Bosnia to come to New Zealand to work as brick layers. They have already completed two homes.

Funky Bumz – Award Winning Nappies

Angela Dixon, owner of Funky Bumz, an environmentally-friendly, reusable nappy made especially for babies to wear in water, and a daily-use reusable nappy system, recently brought home a Silver Medal from the Waikato Environmental Business Awards and says that linking up with Opportunity Hamilton was the best thing she has done for her business.

When Angela was ready to take her business from a cottage industry to a larger, commercial enterprise, Angela was introduced to Sandy Turner who become her mentor and assisted Angela in successfully applying for financial assistance through Opportunity Hamilton's Bank-able NZ™ Securitisation Scheme.

Young Bricklayer out on his Own

Cambridge bricklayer Lyndon Berryman has been able to fulfil his version of working for himself through the Bank-able NZ™ Scheme. Now in his second year trading as LB Bricklaying, Lyndon Berryman says the advice he had had through the scheme is as valuable as the overdraft it guaranteed.

‘I had to come up with a full business plan which was forwarded to the board, they accepted it and then Sandy Turner as my coach called on me every month to see how we were going’, he said. Lyndon is fortunate having his mother do his administration and bookwork and she has benefited enormously from the centre’s advice.

‘Even now that we are past the first 12 month period she can still get some ongoing advice on things. One of the most valuable things we were told was to always leave some money aside for taxation so much per job so when tax time comes around you don’t get caught out with nothing’ said Lyndon.

The business is growing fast for Lyndon with 20 houses bricked last year and at least 35 this year.

New Business opportunity puts Immigrants on their feet

Tariq Hussain and Shimul Khan were one of the first successful candidates for the Bank-able NZ™ Project back in August 2002. They were approved for a fully underwritten overdraft of $10,000 to help them buy a Crest Commercial Cleaning franchise.

Tariq and Shimul came to New Zealand from Bangladesh in 1998 and found it hard to find employment. Tariq had a Bachelor of Science in Electrical and Electronic Engineering and a Diploma in Business Computing and had worked as an Instructor for Biman Bangladesh Airlines for 13 years. Shimul had worked as a Health and Hygiene work and also as a Supervisor at a Family Planning Project in Bangladesh. Their dream was to get themselves established in New Zealand, but despite their qualifications and experience, it was not possible for them to find employment. ‘Nobody knows how difficult it is for people whose first language is not English to get a decent job’ said Tariq. ‘We realised that our best opportunity was to start our own business and thanks for Opportunity Hamilton and its Bank-able NZ™ Securitisation Scheme we have been able to do that’.  Opportunity Hamilton worked with Tariq and Shimul to develop their business plan for starting their commercial cleaning business and helped them through the unfamiliar procedures required in New Zealand. After only three months in business, Tariq and Shimul were able to establish an unsecured banking relationship with the bank and purchased another Crest franchise.

Young Designer combines the old and the cast-offs with the new and fashionable

Jo Sweeney is a young, creative woman who started out in business less than 12 months ago, but her range of cuffs, belts, wallets and handbags are being snapped up by boutique stores from Paihia to Wanaka. She stocks 12 shops in New Zealand and has recently secured a contract with a skincare company to make 100 wallets for Smith’s & Caughey’s 125th anniversary.

With support from the Bank-able NZ™ scheme and her personal coach Sandy Turner from Opportunity Hamilton, Jo has turned her creative ideas into a successful business. ‘Without the wonderful support from Opportunity Hamilton I wouldn’t have been able to establish my business’ says Jo. ‘Not only the practical and hands-on guidance from Sandy, but also the opportunity to attend business skills workshops and network with other business owners has been a tremendous help’. ‘It is great to know that Opportunity Hamilton is only a phone call away if I need some help’, concludes Jo.
 Three tertiary institutions, - The University of Waikato, Wintec and Te Wananga o Aotearoa are located in Hamilton.  The University of Waikato generates 3% of the region’s total revenue and nearly $1 billion for the New Zealand economy as a whole.  Hamilton is a student city, with more than 46,000 people in tertiary study.  Hamilton is building a $68.4 million Claudelands Convention and Exhibition Centre. It includes a 5,000-capacity multipurpose indoor arena, 1,500-capacity conference centre and upgraded exhibition facilities.  Hamilton Farmer’s Market is held every Sunday from 8am to noon on River Road.  Hamilton’s population is around 135,000 people and is projected to increase to 178,782 in 2024.  Hamilton has 3.2% of New Zealand’s population and is one of the country’s fastest growing cities.  Hamilton is New Zealand’s largest inland city, and 4th largest urban area.  Hamilton is on the main tourist route between Auckland and Taupo. Hamilton is the heart of the Waikato.  Hamilton has a land area of 98.6 km2 (New Zealand's smallest city in terms of land area).  The average age in Hamilton is 31.3 years compared to 35.9 years nationally.  Hamilton has a youthful population - around half of residents are under 30 years old.  New Zealand European makes up three quarters of the population, and Maori 19%.  Hamilton is home to more than 80 ethnic groups from 65 countries.  Over half of all New Zealanders (53 percent) were living in four main urban areas (Auckland, Hamilton, Wellington, and Christchurch) at 30 June 2009.  As at February 2008 there were 12,476 small or medium-sized enterprises (SMEs) in Hamilton. This figure accounted for 94% of the total number of businesses in Hamilton.  SMEs contribution to employment in Hamilton stands at 33% which equates to 25,810 employees.  The growth of SMEs in Hamilton city between 2000 and 2008 was 31% which is above the 25% percent growth recorded in the rest of New Zealand over the same time period.  Hamilton is the home of the mighty Chiefs and Waikato rugby teams and the 26,000 capacity Waikato Stadium.  Hamilton will host 3 matches in the 2011 Rugby World Cup.  Hamilton will host the New Zealand round of the prestigious V8 Supercar Championship in the city for the fourth year in 2011. The inaugural race in April 2008 attracted 172,000 attendees plus 5,000 people associated with the running of the event. The event generated $28.3 million of new money into the local economy in the first year and is estimated to generate $156 million over the seven years that the event will run.  Over 100,000 people annually visit New Zealand National Agriculture Fieldays held at Mystery Creek (10 minutes south of Hamilton), which is the largest agricultural event held in the Southern Hemisphere. Each year generates around $290 million sales.  As the centre of the thoroughbred industry, Hamilton has an excellent racing venue at Te Rapa. A national trotting track is 15 minutes drive from Hamilton in Cambridge.  Hamilton hosted the 2010 World Rowing Championships at Lake Karipiro (30 minutes south of Hamilton)   Raglan is 40 minutes by road from Hamilton and home to one of the world’s longest left-hand surf breaks.  Hamilton Zoo is home to over 600 native New Zealand and exotic animals, set in 25 ha of tranquil surroundings.