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Private Business Insights – your Spring 2017 edition

I’d like you to think of a business decision you’ve made this year. Was it a reaction to an obstacle or an opportunity? In truth, the two aren’t usually mutually exclusive.

For example, having to protect your business from a cyber attack might seem like an obstacle. But there’s opportunity in being prepared too, as you could expose your business’s weakest points before an attack happens. In this new spring edition, PwC Director and Forensics Services expert Campbell McKenzie explains his three-pronged approach to plan for, respond to and recover from a cyber breach.

To that end, technology has perhaps been the biggest opportunity in recent times. Take the Internet of Things (IoT), for instance – named as one of PwC’s Essential Eight emerging technologies.

To really see how profitable a prospect this might be, consider that PwC research predicts there’ll be some 30 billion devices connected to the IoT globally by 2020. That’s five times more IoT devices than there will be connected smartphones on the planet by the end of this quickly concluding decade.

So, where are the business, personal and societal opportunities of IoT, and what are the challenges to get us there? The latest PwC Herald Talks event series toured New Zealand to pose this question to a group of expert panellists – and we have a write-up in this issue just in case you missed it.

Another business tackling big technology challenges and societal issues is InsuredHQ. Operated out of Auckland, the business provides cloud-based insurance software to both developed and emerging markets. That’s no small feat; how do you create products that are just as effective for large corporates in the US as they are for small insurance brokers in Ghana? We sat down with the InsuredHQ’s co-founder and CEO, Pauline Davies, to learn all about it.

They also say charity starts at home, and for family businesses, is there a bigger opportunity to secure the future success of their companies than to get to know a little more about the next generation? There may be a strategic reason to do so today – but I’ll let PwC Partner Ross Nelson explain more in this issue.

The last few months in New Zealand, with the recent election, have made us quite introspective to our own shores. But let’s not forget that Kiwis do some of their best work when shaking up overseas markets. Australia is the one businesses are most attracted to, and there are clearly some incredible opportunities across the ditch – but also some hurdles (real or imagined) in the way. PwC Partner Mike Bignell clears up some of the most common questions he’s asked in a quick-fire Q&A for exporters looking to break into Australia.

It always helps to find the opportunity hidden within the obstacle. I’d encourage all businesses to do that in the coming months when faced with a decision. We’d love to hear how you get on.

Until then, I hope you enjoy this edition of Private Business Insights.

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