Keeping out of retirement

Written on the 7 October 2009 by Tom Reid

WHEN Peter Taylor’s accountant ‘made off’ with his superannuation, the businessman didn’t think he would be thanking him more than a decade later.

After working in the steel industry for 40 years, the loss of Taylor’s retirement fund turned out to be just the catalyst he needed for a mid-life entrepreneurial resurgence.

Using equity in his house to invest in property, Taylor was able to buy small building company Townsend Building Services (TBS) which would eventually become one of three business streams of T & T Corporation.

“We liked it (TBS) because it employed 40 people who had enough hold in the business to keep it running, those initial relationships were very important,” he says.

Today Taylor, wife Gay and children Natasha, Justin and Brendon operate the West Burleigh-based company which employs 80 staff and more than 200 contractors.

Since the Taylors took over in 2003 with annual revenue of $3 million, T & T Corporation has grown by around 60 per cent each year with the last financial year turning over $32 million.

The corporation provides building services to both the insurance industry and Queensland Department of Public Works with offices in Cairns, Townsville, Mackay, Sunshine Coast, Brisbane, Toowoomba, Gold Coast and Newcastle.

Last year alone T & T Corporation completed more than 6000 jobs.

In August the company took out the National Family Business of the Year Second Generation award at Family Business Australia’s annual national conference in Darwin.

The corporation came out on top following an examination of the performance and professionalism of the business and the company’s commitment to community service.

“The FBA were looking for a business that is not only well organised and running well, but organised with a family council and constitution,” says Taylor.

“We are competing with companies that have had over 40 years in business, but we are not feeling the effects of the recession at all.”

At 68, Taylor says he is more entrepreneurial now than at the time of his attempted retirement.

As for the man who robbed Taylor of his retirement prospects over 12 years ago?

“I thank the bloke every day of my life for getting me up and back into business,” says Taylor.

“I have never had so much fun in business as I do now, working with my family – it has been a terrific journey.”


Author: Tom Reid

Latest News

BELLAMY'S FINDS EXPORTING BABY FORMULA INTO CHINA IS NO CHILD'S PLAY

BELLAMY'S (ASX: BAL) shares have suffered a 40 per cent drop in value today after the company hit a regulatory...

BRISBANE WATCH BRAND ADINA AIMS FOR ICONIC

ADINA watches is at a turning point in its history, 45 years after being founded by Robert 'Bob' Menzies i...

WHY YOU SHOULD CARE FOR YOUR BODY AS MUCH AS YOUR BUSINESS

ENTREPRENEURSHIP is a busy business. It can be all-consuming, but it is important not to neglect your health Y...

BULLETS BACK IN THE BUSINESS COMMUNITY

ALTHOUGH new to the current south-east Queensland sporting landscape, the Brisbane Bullets have a rich basketball ...

Related News

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

BIG W CEO QUITS AFTER 11 MONTHS

SALLY MacDonald has resigned as chief executive of BIG W ending her tenure at the helm of the struggling discount ...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter