William Buck New Zealand
As a fully integrated firm of Chartered Accountants and advisors, William Buck provides a complete solution. Putting you at the core of the business, our advisors work together to ensure that careful consideration is given to your business and personal wealth affairs.
Working closely with you and your team, our Business Advisors can help you plan and implement contemporary business strategies and practices to meet your business’s full potential.
Our commercially minded tax specialists offer clear, responsive advice to manage your tax risk, address local and international issues, and develop strategies to optimise your tax position.
Our highly experienced team of liquidators and trustees use their extensive expertise to assist in times of financial distress, achieving the best outcome for all stakeholders.
Our audit team has extensive experience in a range of engagements, giving stakeholders independent and objective assurance on financial information, transactions and processes.
By understanding not only what you want to achieve but why it’s important, our wealth advisors can create strategies attuned to your key priorities. The end result is a plan focused on your life goals.
Our Corporate Advisory team provides objective, strategic and commercial advice across a broad range of business issues. Our work spans the breadth each engagement from the origination of ideas to managing the transaction process, valuation and structuring.
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William Buck has a team of professionals with specialist experience and know-how on a range of industry sectors.
Our advisors understand the risks and opportunities unique to the agribusiness sector. Taking a strategic view of your operations they provide relevant guidance and advice.
Assisting public and private schools, vocational colleges, universities and private training providers, our education specialists provide timely and valuable assurance services together with strategic, financial and management advice.
Our Government and public sector team has substantial experience in assisting all levels of government to review their structures and develop strategies, in line with relevant legislative requirements and accounting and audit standards.
Working with over 1,600 clients in the health sector, our advisors help practitioners and health care corporates achieve their business and personal goals
Our hospitality and tourism team has a working knowledge of the industry which, when combined with our technical knowledge, can assist you in reaching your commercial goals.
By staying on top of changes in the manufacturing sector, our industry experts provide relevant and timely guidance to a broad range of manufacturing business.
Our mining and energy team has the experience and resources to help start-ups, developing businesses and well-established companies to meet their commercial goals.
Integrity and transparency are at the heart of the best Not for Profit organisations. These values re shared by our dedicated Not for Profit team, which helps entities to establish to improve performance and develop strategies for long-term growth.
Our advisors understand the challenges and opportunities facing the professional services sector first hand. This experience together with our expertise helps to determine your strategic objectives and provide concise, relevant advice to help you achieve your goals.
Our property and construction team assist on a wide range of assignments from property development to construction and large infrastructure projects. Their diverse experience, technical expertise and commercial know-how to help you tackle the important issues.
Our retail and wholesale team works with a variety of businesses from family owned operations to franchises and larger chains, to provide advice and guidance on the issues that count.
Our transport and distribution team works with businesses to review their operations, improve efficiency and productivity and ensure compliance with the latest regulatory developments.
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We work with individuals, businesses and community organisations with a particular focus on the mid-market. Drawing on our extensive experience, our advisors will challenge your thinking and re-frame problems to understand their root-cause.
We’re more than just accountants and advisors, we aspire to create positive change in the lives of our clients and our people.
Life as a CFO can be complex, exciting and demanding. Combining technical excellence with decades of working closely with and listening to the needs of CFOs, our advisors understand the competing demands of your role.
Whatever your needs, we have the expert resources to create the best outcome for you and your business. As our client, you’ll benefit from our integrated services model that puts you at the core of its business.
We create and implement personal wealth plans and tax strategies that give our clients greater certainty that their financial and personal goals will be met.
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We boast a culture that values each individual employee as an essential part of the team and places a high priority on helping you reach your full potential, personally and professionally.
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Established in 1895, we’re more than just advisors; offering a full range of services and 360 degree support, we aspire to create a positive change in the lives of our clients and our people.
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By MARK CALVETTI
DIRECTOR, CORPORATE ADVISORY
Australia needs to look to the entrepreneurial approach of the United States to encourage more funding when it comes to driving commercialisation of medical research in Australia.
In a recent health innovation boardroom lunch held jointly with Westpac Bank, William Buck Chartered Accountants and HWL Ebsworth Lawyers, which focused on the commercialisation of medical research, we put the spotlight on some of our pioneers in Australia’s healthcare sector and their approach to sourcing funding to further their ground-breaking research into medical technology and cancer prevention.
A panel discussion was held with guest speakers, Warren Bingham, Executive Chairman at MedTech International Pty Ltd and Vice President – Asia Pacific, Clinical Genomics, Geoff Cumming – Chairman of Sienna Cancer Diagnostics and Dharmica Mistry – Chief Scientist of BCAL Diagnostics and 2015 Young Scientist of the Year and 2016 NSW Young Women of the Year.
Over the years, Australia has contributed a number of revolutionary innovations to the medical industry such as the Gardasil and Cervarix cancer vaccines, Cochlear implant, Electronic pacemaker and Spray-on skin. However, even Professor Fiona Wood who developed the life-saving ‘spray-on’ skin grafting technique, faced hurdles obtaining funding along the way. In 1993, Fiona and scientist Marie Stoner were eventually able to develop their skin culture facility with support from a Telethon grant. The spray-on technology later became commercialised through Clinical Cell Culture Pty Ltd, (now known as AvitaMedical). While the avenues to funding have changed since then, the fundamental principles behind it are still the same. How do you prove your medical research is worth funding over another research initiative when you only have an idea?
Guest speaker Warren Bingham’s story was particularly interesting. Warren helped to introduce to the world, PillCam Capsule Endoscopy to identify abnormalities in the gastro intestinal tract. He brought to life the challenges behind identifying the needs analysis, research development and the key learnings from commercialising it.
His biggest test was finding a way to make it cost effective and therefore ‘reimbursable’ proved to being the turning point for the business and in 2003 Capsule Endoscopy was successfully approved for permanent Medicare funding by the Australian Government Department of Health and Ageing.
When you have the opportunity to hear the personal stories behind each of these medical successes, it changes the focus. Their drive, determination and commitment to accomplishing medical break-throughs and ultimately helping to save lives is nothing short of admirable. At each stage of the process towards commercialisation is countless hours of dedication to the cause and hard work. They don’t give up when many of us would and their just reward should be the opportunity to make their idea profitable.
In the initial seed stages most innovators find their greatest sources of funding come from family and friends, those that have the courage to say “Yes, I’ll back you”. However, it is important to identify if those early stage funders are the right people to help the business going forward as you move towards pursuing larger pools of funding, formal partnering arrangements and eventually commercialisation.
While innovation in Australia is not yet as advanced as the United States, which mainly comes down to just sheer size and scale, what the United States have definitely shown is a very entrepreneurial approach to funding medical research. Despite a decline in government spending and investment in comparison to Asia and Europe, an increasing number of private and angel investors and venture capital firms are keen to provide financial support to get an idea off the ground. Life Science Angels for example, is a venture capital firm who provide funding solely to healthcare investments, including medical devices, diagnostics, pharmaceuticals and biotechnology.
In Australia we have available a number of government research and development grants including the Medical Research Commercialisation Fund. While the government is investing in this area, there is certainly more that can be done, particularly through better public awareness and by placing the same emphasis on scientific research as other key government initiatives.
By driving more focus towards medical innovation and putting the spotlight on the sector, we want to continue to encourage people to seek funding support to explore their ideas and know they have the backing of industry, government and the corporate sector to help them to achieve their aspirations to make a difference to people’s lives.
Where we can contribute is through opportunities such as our health innovation events to connect them with the right people who will help them to bring their ideas to life.