Aviation engineering

The plea
With 14 years as an Aircraft Structural Maintenance Engineer in the air force, it's no secret that Darryl Mincham loves aircraft — so much so he's on a mission to build his own commercially viable airplane. In the process, he's built a very viable manufacturing business, making aircraft components. Mincham Aviation is now a major force in the aviation industry, supplying parts and services for defence … air force, army, navy and civil aviation. The company also produces its own product range which Darryl is keen to launch into the global supply chain.

The challenge
The Commonwealth Business Banking Health Check shows that business growth is soaring so Mincham Aviation needs more space to keep up with demand and extra finance to develop a new site. High quality workmanship and services have resulted in a string of accreditations which will aid in greater access to world markets and with plans to go overseas, export advice is essential.

Advice from our business mentor: Frank Seeley — Seeley International
Seeley International is a world leading manufacturer of natural, efficient evaporative cooling products and gas heating products. Products are sold worldwide under the famous brand names Breezair, Convair, Braemar, Coolair and Tudor.

Business tips from the floor:

• The harder you work, the luckier you get.
• Honesty is the best policy.
• Everyone's ideas count.
• You'll never know if you don't give it a go.
• Stick with it until you get it right.

Advice from Business consultant one: Nesrine Viscariello — Commonwealth Bank
Nesrine is a global marketing specialist with vital information about how to protect companies trading on the world market.

Business tips:

• Formulate a foreign exchange risk management strategy and policy within your business that will ensure your export profitability.
• When looking for a foreign exchange provider consider the depth, knowledge and experience of the foreign exchange team, the service provided and the quality of the market research produced — not just who is the cheapest.
• Research never stops. Get a very broad cross section, not just where you think your product should be.

Advice from Business consultant two: Milenko Novakovic — Commonwealth Bank
Local Business Banker Milenko helped Darryl expand the manufacturing side of the business. Now he's helping with the next growth phase — financing a new factory.

Business tips:

• You need to have a strong business plan and clearly present your financials when wanting to buy commercial property. For new property, the bank will give 70 percent against value of the commercial property; the rest needs to come from the business's cash flow or owner's property.
• Build a relationship with your banker so that they understand both your business and your personal goals.
• Speak to the bank early on. You can iron out potential issues before they arise.

Advice from Business consultant three: David Penfold — Salisbury Export Centre
David Penfold works closely with Austrade, the State Government and the Department of Trade and Economic Development.

Business tips:

• Develop a specific export plan not just an add-on to the business plan.
• Do lots of in market research.
• Check help available through Austrade and government market development programs such as the New Exporter and EMDG grants (above $15,000 they give 50 percent back each year on expenditure above this).
• Show endorsements from your suppliers and clients for leverage with potential overseas customers.

Costs

CBA
Contact your Commonwealth Bank local business banker for more about all the products and services available to small-to-medium businesses at www.commbank.com.au/lbb

Growth Magazine — out now!
To revisit one of our previous shows on Generation Y featuring the young entrepreneurs from Platinum Electrical and ARCS Building, get a copy of the latest edition of Growth Magazine — out now!

Cisco competition
Cisco are giving away a technology makeover to 10 businesses across Australia. For your chance to win a tailor made Cisco system worth up to $50,000 simply tell us how a Cisco System will improve your business.
If your business has 250 or less employees, go to www.cisco.com/go/makeover to enter.
Entries close on December 31, 2007

Contact details:

Seeley International
Contact: Frank Seeley
Title: owner
Location: South Australia
Phone: (08) 8276 2355
Website: http://www.seeley.com.au

Mincham Aviation
Contact: Darryl Mincham
Title: owner
Location: Adelaide
Phone: (08) 8283 2388
Website: http://www.minchamaviation.com

Commonwealth Bank
Contact: Milenko Novakovic
Title: local business banker
Location: Frankston, Melbourne
Phone: 0403 393 738
Website: www.commbank.com.au/lbb

Commonwealth Bank
Contact: Nesrine Viscariello
Title: global markets specialist
Location: Adelaide
Phone: 0403 393 738
Website: www.commbank.com.au/lbb

Salisbury Business & Export Centre
Contact: David Penfold
Title: manager economic development
Location: Adelaide
Phone: (08) 8260 8205
Website: http://cweb.salisbury.sa.gov.au

   Watch the video