Marketing and Development Hawke's Bay Ltd
This company was set up in 1988 as a joint effort by the Hawke's Bay United Council and Hawke's Bay Regional Development Council with a broad aim to enhance the economic and social environment of the Hawke's Bay Region.
The company had two Trustee Directors appointed by the United Council who held the voting shares in trust, together with three other Directors. Only one staff member was employed as Company Manager.
The Company was established from seeding capital contributed in various ways, including shareholding by the business community and loans and guarantees by local authorities. The aim was for the Company to become self financing as quickly as possible. Initially it positioned itself in the role of a broker introducing resources, including finance, marking and management skills, and technology into the region. Later it sought to concentrate on providing consultancy services under contract.
In November 1989 the Company learned that one of their major business supporters was withdrawing their sponsorship, which paid for half the managers annual salary and the use of a motor vehicle. As a result the Company wrote to the Regional Council (the successor to the United Council) seeking advice on their long term future. The Regional Council advised the best course of action would be to wind up the company, which appears to have been carried out in 1990.