Monthly Archives: October 2022

October is National Disability Employment Awareness month

October is National Disability Employment Awareness month

 

Jimmy Dean, Dawn Hutchinson, Shannon Wilson, Sharon Cullen, Beth Schumer and Ryan Boyle of Helping People Succeed’s Successful Futures program
Debi Athos, Jen Ripperger and Janet Kissam of Helping People Succeed’s Successful Futures program

 

October is National Disability Employment Awareness month. And lest you think the only people this affects favorably are those who have found jobs that match their individual skill sets, the fact is their employers and the general population of the United States benefit, too.

Helping People Succeed, the nonprofit that’s been making a difference on the Treasure Coast for more than half a century, has two programs that match employers and employees: Successful Futures and Project Search.

As Suzy Hutcheson, CEO of Helping People Succeed says, “Many people have asked us, what can a person with a disability do in the workforce of today - our answer is just about anything.”

Shannon Wilson is Director of Successful Futures at the nonprofit. She receives referrals from Florida’s Division of Vocational Rehabilitation which in turn are matched up with clients of Helping People Succeed who have the physical, cognitive and sensory skills to do the job.

Because there is great care taken to make successful matches, it can take 3-4 months for a client to find a job. Employers will get referrals that include:

  • Matching their needs with the abilities and skills of applicants
  • Providing on-site training for the new employee
  • Providing follow-up and on-going support services both to the newly hired employee and the employer to ensure job placement satisfaction

The follow-up support services are performed by a Helping People Succeed Employment Consultant (or Retention Specialist) who works with each employee, giving whatever support is necessary for the client to understand, perform and enjoy their job.

This can continue throughout the client’s entire working career if it is requested. Businesses that have trouble hiring competent workers are often pleasantly surprised when they offer someone with a disability the chance to work for them.

Helping People Succeed’s other initiative, Project Search, is offered in conjunction with the Martin County School District. It’s a one-year transition program for students aged 18-21 who have graduated from high school. It takes place in a business setting in which the interns are totally immersed, allowing them to become employable with competitive work skills. Individualized job development and placement is on-going and based on strengths, skills and interests.

Hutcheson likes to say that Helping People Succeed creates taxpayers. And although October is National Disability Employment Awareness month, the nonprofit works every day of the year to help people with disabilities become accepted, included and valued employees.

For more information about employment training and other programs offered by Helping People Succeed, visit www.hpsfl.org.

 

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]
Oct. 17, 2022|

This year’s Pinot & Picasso has tropical twist

This year’s Pinot & Picasso has tropical twist

Dale Forbes (center) presents his original painting titled “Birds of the Tropics” to Pablo & Picasso committee members Laura DeBerard, Susan Clifford, Heidi Bosley, Dale Forbes, Bill “Boz” Bosley, Lee Borellis, Suzy Hutcheson, Mary Rose Bressman, Conchita Vallecillo and Glenna Parris

 

Helping People Succeed’s 9th Pinot and Picasso will feature the talented artists whose works grace the 2023 Art for Living Calendar, the unveiling of the Calendar, and a fun-filled party, all with a tropical twist.

Thanks to the generosity of local philanthropist Bill Lichtenberger, the elegantly casual event will take place on Saturday, Nov. 19, starting at 5:30 p.m., at Harbour Ridge Yacht and Country Club. Calendar art paintings, as well as other art, will be on display at the clubhouse.

Pinot and Picasso, with a Tropical Twist, is the primary fundraising event that supports Helping People Succeed and the many people it serves. The new theme encourages male attendees to leave their jackets and ties at home and ladies to don that relaxing sundress.

Guests will experience an island-like greeting as they arrive for an evening of upscale dining with hors d’oeuvres, libations and a sit-down dinner with wine pairings, extraordinary silent and live auctions and the island-inspired tunes of musician Bill “Boz” Bosley. Tickets are $200 per person and sponsorships starting at $250 are available.

Enjoy a “meet & greet” with talented calendar artists Alene Sirott-Cope, Yolanda Luce, Kirsty Innis, Janet Kipp Tribus, Marta Elena Gonzalez, Susan Roberts, Susan Clifford, Pam Patterson, Christine Grosso, Julia Kelly, Diane Raymond, Dan Mackin and Patrice Scott.

The major impacts Helping People Succeed have had on the community include:

  • Children who go to bed at night free from abuse and neglect, thanks to the Healthy Families program. 500-plus families benefit from learning techniques that enhance parent - child interaction.

  • 4,500 families with newborns get guidance and learn to nurture and interact with their infants in a positive way, promoting healthy growth and development, resulting in school and life success through the Baby Steps program.

  • Adults with intellectual disabilities live everyday lives as they find employment with local businesses, becoming productive, taxpaying citizens through the Employment Options program.

  • Parents get support (including mental health counseling services) for children who have behavioral and emotional challenges thanks to a loving learning environment fostered by Behavioral Health Services. Adults are now being served through this program as well.

  • Adults with disabilities participate in the community through work, volunteer and community activities thanks to the Community Connections program.

To buy tickets or learn about sponsorship opportunities, contact Glenna Parris, Gift Planning Officer, at 772-320-0778 or [email protected] or visit www.hpsfl.org.

 

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]
Oct. 17, 2022|

Sunshine Kitchen hosts student culinary cook-off Oct. 25

Sunshine Kitchen hosts student culinary cook-off Oct. 25

 

The public is invited to a Culinary Cook-Off as the Sunshine Kitchen hosts a student cooking challenge on Tuesday, Oct. 25, starting at 10 a.m. for a chance to win a $1,500 scholarship.

Presented by the Treasure Coast Education and Research Development Authority, this student cooking contest will pair Indian River State College students with St. Lucie Public School students as they compete for $1,500 in scholarship funds. Prep work will begin at 9:50 a.m.; cooking starts at 10:05 a.m.; judging will take place at 11:05 a.m., with awards being presented at noon.

The categories/winning divisions included: 

• Plate Appearance

• Taste/Flavor

• Teamwork/Cooperation

• Proper Cooking Procedures

• Knife Skills

• Degree of Difficulty

• Sanitation/Food Safety

Two $1,500 scholarships will be awarded with funding provided by the St. Lucie County Board of County Commissioners. Scholarships will be paid to the St. Lucie County Public Schools Education Foundation and Indian River State College Education Foundation.

The public is invited to attend and enjoy this free event. Refreshments will be provided by middle school students enrolled in culinary programs through the St. Lucie Public School District. Those interested in attending should register before Wednesday, Oct. 19 by emailing: [email protected] or calling 772-467-3107.

Located inside the Treasure Coast Research Park, the Sunshine Kitchen is a 10,000-square-foot, state-of-the-art food incubator where chefs, caters, food truck operators, and more can hone their culinary skills. The Sunshine Kitchen Food Business Incubator is located at 7550 Pruitt Research Center Road, Fort Pierce, Fla. 34545. For more details, visit www.sunshinekitchenslc.com.

The Sunshine Kitchen is owned and operated by the Treasure Coast Education and Research Development Authority and the St. Lucie County Board of County Commissioners.

 

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

 

Oct. 17, 2022|

Treasure Coast Business News 10.1.22

*|MC:SUBJECT|*

SBA adds central and north Florida counties to disaster declaration for Hurricane Ian

The U.S. Small Business Administration (SBA) announced the addition of several Florida counties to the disaster declaration for Hurricane Ian that began Sept. 23. This expands eligibility for more businesses and residents to apply for SBA’s low-interest disaster loan program. The SBA is opening a second and third Business Recovery Center, in Bonita Springs on Wednesday and in Naples on Thursday, to provide one-on-one assistance to those applying for a disaster loan... Read More>>

Emergency relief fund activated in wake of disaster

United Way of Florida has activated the Disaster Recovery Fund for those affected by Hurricane Ian.

As part of United Way’s mission to build stronger, more resilient, and equitable communities – and to support communities affected by Hurricane Ian – United Way has created the United Way Disaster Response and Recovery Fund to help local United Ways meet immediate storm-related needs and support long-term recovery throughout the affected regions.

“We know that many generous groups and individuals are looking to assist in repairing and rebuilding these communities devastated by Hurricane Ian,” said Meredith Egan, United Way of Indian River County CEO... Read More>>

Florida SBDC IRSC teaches how to become a bankable business

The Florida Small Business Development Center (SBDC) at Indian River State College (IRSC) in collaboration with the Florida Bankers Association will conduct and host the How to Become a Bankable Business seminar. The event will take place on the IRSC Massey Campus Kight Center For Emerging Technologies in Fort Pierce on Friday, Oct. 21, 2022 from 8:00 to 11:00 a.m.

Capital is critical for entrepreneurs as they launch and grow their businesses.... Read More>>

Help Family Promise of Martin County buy a “home” of its own

The mission of Family Promise of Martin County, a non-profit, interfaith hospitality network, is to provide temporary housing, caring support, meals and a host of social services for families with children experiencing homelessness.

The housing takes place in local religious congregations that have joined in a consortium to support the guests who turn to – or are referred to – Family Promise of Martin County.

The heart and soul of the non-profit is its Family Center, which is open Mondays-Fridays from 8 a.m.- 5 p.m... Read More>>

Three IRSC students receive scholarships from Port St. Lucie Business Women

Since its inception in 1980, the Port St. Lucie Business Women has supported women in the advancement of their education at Indian River State College and in their careers. To date, the Business Women has donated more than $125,000 to the Indian River State College Foundation through its annual scholarship awards from money raised in the organization's Spring Fashion Show, assuring the future of more than 70 local women. Three outstanding students were chosen as this year's scholarship recipients... Read More>>

St. Lucie County earns three Florida Public Transportation Association marketing awards

St. Lucie County's Transit Department earned three awards for public transit marketing during the Florida Public Transportation Association’s annual conference in Sept. for its efforts to promote ART: Area Regional Transit.

St. Lucie County’s Transit staff won first-place awards in the following categories... Read More>>

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St. Lucie Battery & Tire
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BANKING
Bank of America
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Artistic Closets
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Clerk of the Circuit Court - St. Lucie County
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Saint Lucie County Property Appraiser
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HEALTHCARE/HOSPICE CARE
Treasure Coast Hospice
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Harbor Place of Port St. Lucie
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INSURANCE/FINANCES
Post Insurance
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State Farm/Bill Knight
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LAW OFFICES
Fee, Yates, & Fee, P.L.
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NONPROFIT
Treasure Coast Food Bank
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PRINTING/SIGNS
Fast Signs of Vero Beach
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RADIO
WQCS
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REAL ESTATE
Branca Realty Professionals
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Oceanside Realty Partners
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ROOFING
EP6 Group
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STONE WORK & GRANITE
Real Stone & Granite
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Meltra Boat Trailer Sales
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AIR CONDITIONING
Miller's Central Air
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Sea Coast Air

772.466.2400
seacoastair.com

AIRPORTS/AVIATION
Palm Beach International Airport
561.471.7400
pbia.org

ART DEALER & FRAMING
Frank’s Hang Up
772.567.7692
frankshangup.com

ART GALLERIES/ARTISTS/
FRAMING

A.E. Backus Museum
772.465.0630
backusmuseum.com

Florida Art Exchange
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Vero Beach Museum of Art
772.231.0707
vbmuseum.org

ATTRACTIONS
Elliott Museum
772.225.1961
hsmc-fl.com/elliott-museum/

MidFlorida Event Center
midfloridaeventcenter.com

Okeechobee County Tourist Development Council
863.763.3959
visitokeechobeecounty.com

St. Lucie Regional History Center
772.462.1795
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AUTO DEALERS
Bev Smith Automotive Group
772.464.8440
bevsmithtoyota.com

Infiniti of Melbourne
321.316.6894
infinitiofmelbourne.com

AUTOMOTIVE
St. Lucie Battery & Tire
800.432.1064
slbt.com

BANKING
SouthState Bank
800.277.2175
SouthStateBank.com

BEVERAGES
Natalie’s Orchid Island Juice Co.
800.FRESHHH
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BUILDERS
GHO Homes
772.532.3630
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BUTCHER SHOP
A Butcher Shoppe & A Bit More
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CANDY/ CONFECTIONARY
Bruno’s Chocolate
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CAR WASH

Wash-N-Go Express Car Wash
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CASINOS
Seminole Brighton Casino
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CHAMBERS OF COMMERCE
St. Lucie County Chamber of Commerce
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CITRUS/PRODUCE
Nelson Family Farms
772.464.2100
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CREDIT UNION
MidFlorida Credit Union
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DENTIST
All Smiles Dentistry
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DIVE & WATERSPORTS
Deep Six
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EDUCATION
Florida Atlantic University's Harbor Branch Oceanographic Institute
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Indian River State College
866.792.4772
irsc.edu

EYEWEAR/OPTICAL CARE
C.R. Lait
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Taylor Creek Optical
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FARM
Adams Ranch
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FURNITURE
Danish Furniture Inc.
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Mattress Market
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Sunshine Furniture
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Indian Hills Golf
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Savanna Club
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GOLF CARTS
Champion Golf Carts
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Total Golf Cart
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GOVERNMENT/MUNICIPALITIES
Saint Lucie County Property Appraiser
772.462.1000
paslc.org

GRILL CLEANING
Florida Native Grill Cleaning

772.285.2726
floridanativegrill.com

HEALTH CARE/HOME CARE
A Moment’s Notice Healthcare
772.978.9092
amnhc.com

Indian River Home Care
772.569.3885
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indianriverhomecare.com

HOME IMPROVEMENT
Artistic Closets
772.692.8447
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McMow Art Glass
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HOSPITALS
Cleveland Clinic Martin Health System
772.345.8100
martinhealth.org

Sebastian River Medical Center
772.581.8003
sebastianrivermedical.org

INDEPENDENT/ASSISTED LIVING
Harbor Place of Port St. Lucie
772.337.4330
ptstlucieharborplace.com

The Palms of St. Lucie West
772.344.7441
thepalmsofstluciewest.com

INSURANCE
Geico Insurance - Maggie Deng
772.400.6680
geico.com/vero-beach-deng

McCall Insurance
772.562.4477
mccallagencyinc.com

Post Insurance
772.878.8184
InsureWithPost.com


State Farm/Bill Knight
772.461.7900
billknightinsurance.com

INTERIOR DESIGN/FURNISHINGS
Decor Envy
772.492.6518
shopdecorenvy.com

H. Allen Holmes, Inc.
772.245.8586
hallenholmesinc.com

Karen Kane Interiors
772.465.2574
kkaneinteriors.com

JEWELRY
Diamonds by Terry
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diamondsbyterry.com

St. Lucie Jewelry and Coins
772.336.2050
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LAW OFFICES
Fee, Yates, & Fee, P.L.
772.461.5020
feeyateslaw.com

Florida Personal Injury Law Team
772.302.2700
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Rossway Swan
772.231.4440
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RosswaySwan.com

LUMBER & HARDWARE
East Coast Lumber
772.461.5950
eastcoastlumber.com

MEDICAL
Ocean Chiropractic & Health Center
772.460.9000
oceanchiropracticandhealth.com

Orthopaedic Center of Vero Beach
772.778.2009
orthocentervb.com

South Florida Orthopaedics & Sports Medicine
772.288.2400
SouthFlaOrtho.com

MENTAL HEALTH
Mental Health Association Indian River
772.569.9788
mhairc.org

MUNICIPALITIES
City of Fort Pierce
772.467.3000
Cityoffortpierce.com

City of Port St. Lucie
772.871.5225
cityofpsl.com

NONPROFITS
Children’s Services Council of St. Lucie County
772.408.1100
cscslc.org

Family Meals
772.210.0900
familymealsinc.org

Harbor Branch Oceanographic Institute Foundation
772.466.9876
hboifoundation.org

Project Lifesaver
772.466.1271
projectlifesaver.org

Treasure Coast Food Bank
stophunger.org

Treasure Coast Hospice
772.403.4500
treasurehealth.org

OPHTHALMOLOGY
New Vision Eye Center
772.257.8700
newvisioneyecenter.com
cataractsurgeryverobeach.com

PERFORMING ARTS
Sunrise Theatre
772.461.4775
sunrisetheatre.com

Vero Beach Theatre Guild
772.562.8300
verobeachtheatreguild.com

PET STORE
The Noble Paw
772.348.0800
thenoblepaw.com

PET SUPPLIES
Pet Supplies Plus
772.873.8170
petsuppliesplus.com

PLASTIC SURGERY
Ocean Drive Plastic Surgery
772.234.3700
oceandriveplasicsurgery.com

RADIO
WQCS
888.286.8936
wqcs.org

REAL ESTATE
ABC Realty 772465.5100 ABCRealtyFortPierceFL.com

Branca Realty Professionals
772.882.9583
brancarealty.com

John’s Island Real Estate Co.
772.231.0900
johnsislandrealestate.com

Keller Williams/AnnMarie Napolitano
Cell: 954.675.2804
Office: 772.236.5700
napolitano.homesandland.com

Keller Williams Realty at Port St. Lucie
561.379.6875
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teambroomfield.kw.com

Mark Walters & Company
772.468.8306
WaltersCo.com

Oceanside Realty Partners
772.418.4420
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RESTAURANTS
Casey’s Place
772.231.4790
caseysplace.net

Crabby's Dockside
772.252.5672
crabbysdocksideftpierce.com

Ocean Grill
772.231.5409
ocean-grill.com

Sharkys
772.466.2757

ROOFING
EP6 Group
772.332.9100
ep6group.com

SENIOR CARE
Oasis Senior Advisors
772.600.8204
oasisssenioradvisors.com/treasure-coast

SHOPPING
Best Value Jewelry & Pawn
772.467.1199
772.340.2424
bestvaluepawn.net

Kemp’s
772.221.9973
kempsshoesalon.com

Top Drawer Boutique
772.287.2845
topdrawerfl.com

STONE WORK & GRANITE
Real Stone & Granite
772.489.9964
realstoneandgranite.com

SHUTTERS/WINDOW TREATMENTS
Florida Shutters Inc.
772.569.2200
floridashuttersinc.com

Impact Experts
772.285.9342
impactglassexperts.com

WEDDING/VENUES
The Crane Club
772.200.2662
craneclubattesoro.com


ADVERTISING AGENCIES
Adams Media Group
772.492.6570
adamsmediagroup.com

Idea Garden
772.778.2832
ideaga.com

Nicolace Marketing, Inc.
772.299.4889

Pathos 561.688.2880
wearepathos.com
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Oct. 17, 2022|

Census Bureau service provides timely updates on business startups

Census Bureau service provides timely updates on business startups

Florida has seen unprecedented growth during the past two years in the number of new business starts. In 2020, more than 495,000 new applications were filed to start a new business — up 26.8% from the previous year. While these were staggering numbers, the pace continued at the same robust rate in 2021. Last year, there were more than 632,000 new business applications [another 27% increase year-over-year]. 

These same trends were happening across the entire nation, with new business creation booming in most states. Peer states, like New York, California and Texas, were also experiencing tremendous growth in new businesses, but none had growth as robust as Florida. As one of our partners, the Florida Chamber of Commerce, shared last year, Florida has been the No. 1 state for new business starts for the past two years. 


The 2021 county-level data was just released June 23. The county-level numbers are also used to populate county and regional policymakers dashboards.


U.S. CENSUS BUREAU

U.S. Census Bureau

Business applications are easier to track and compare due to the launch of a standard data product by the U.S. Census Bureau. The Business Formation Statistics data series provides timely information on new business applications and formations in the United States. There are many perks of using the BFS as a real-time indicator for tracking the business environment, including that it is available at the national, regional, and state levels. However, the strongest asset of the data series is that it is available weekly, meaning you can regularly track where your state is compared to the previous year.

FL new businesses

Moreover, the data series tracks different types of applications. The overall application number is benchmarked against high-propensity applications. This group includes those that are from some key industry sectors, corporations, those with planned wages, and those that are hiring. All of the other sub-types of business applications are included in the overall business applications number. Examining it this way confirms that the majority of business growth is in those that are going into business for themselves as a non-employer or a sole proprietorship. The overall business number for our state reflects that trend as well — 2.4 million of 2.8 million businesses are non-employers. 

BFS are also available by county, but not in real time. The 2021 county-level data was just released June 23. The county-level numbers are also used to populate county and regional policymakers dashboards.

Last year, aspiring entrepreneurs were about 19% of the Florida SBDC Network’s clients, and startups [those in business less than three years] were about 30% of its clients. To some, that market segment distribution of clients may be surprising. After all, established businesses have been dealing with various external pressures like the pandemic, rising operating costs, supply chain and labor shortages, and now inflation. However, the flip side of the Great Resignation has been that advancing technology and cultural shifts in work-life balance have fostered a fertile ground for aspiring entrepreneurs. Ultimately, this means that the demand for Florida SBDC Network services is extremely high from all market segments of businesses and will likely continue to be throughout the year. 

Pulling together this data for the network, the Florida small business community and our partners through dashboards can provide a variety of insightful relationships, including where growth is happening most in earnest, how industries are growing throughout the state and how marketing teams can target these new entities most effectively. Florida might rank third in population, but it is proving to be No. 1 for businesses.

 

See the original article in the print publication


Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

Oct. 14, 2022|

Do your homework before buying an existing small business

Do your homework before buying an existing small business

BY NANCY DAHLBERG AND SUSAN GUILLORY

Do you dream of owning your own business? There’s more than one way to make this dream come true. Some entrepreneurs launch a business from scratch, while others buy an existing business. There are certainly advantages to buying an established business, but is it the right move for you? Let’s find out.

Pros and Cons of Buying an Established Business 

If the idea of starting a new business isn’t your cup of tea, you might consider becoming the new owner of an existing business. Let’s look at the benefits and drawbacks of doing so.

Pros

An established business has done the hard work of setting up, establishing customers and generating revenue, so you will have less work to do. Contrast this to launching a startup, which will require a lot of capital upfront, as well as a lot of strategies and planning to be a success.

Another benefit is that you can have a clear understanding of what sort of revenues you can expect. Smart business buyers ask to see their accounting. Looking at the business’ financial statements for the last three to five years, such as cash flow statements, balance sheets, profit and loss statements, and personal and business tax returns can show how financially healthy the business is and has been.

Cons 

On the other hand, you may not be able to find the type of business you are interested in for sale or at a price you can afford.

You may also inherit liabilities like debt from the owner, which can add to the cost of buying a business. In addition, you may not be aware of any issues with staff, suppliers, location or zoning until you take over ownership and see for yourself.

Consider why this person is selling the business. Is it because it’s flailing and they want to get out before the ship sinks? You don’t want to be the one to go down with the ship.

What to Consider Before Buying a Business

If you are considering buying a business, here are some things to consider.

What’s the Real Story?

It’s important to consider why small business owners sell their businesses. If they’re planning to retire, that’s one thing. However, if they have racked up debt and cannot afford to run the business, then that becomes your problem.

Find out as much as you can about the business. Don’t just look at the balance sheet; talk to employees to see how they like the company and how it’s run. Examine equipment to see what kind of shape it’s in.

What Will it Cost?

The purchase price is just one expense you’ll have in buying an existing business. If equipment is outdated, you may soon need to replace it. In addition, consider that some employees might leave when you take ownership, so you may need to invest in hiring new ones.

Also, consider other fees or licenses you may need to transfer or get in your name as a new license. Review the requirements for business licensing in your state so you know those costs ahead of time and can ensure you have the cash flow to cover all these expenses.

Is There Any Debt?

If the business has outstanding loans or other liabilities, what are they, and will you be responsible for paying them off? You may be able to negotiate this as part of the sale agreement so that you’re not saddled with debt, which may start you off on the wrong foot when it comes to building business credit.

What Work Needs to be Done?

You may be able to step into this business as a turnkey operation and do nothing more than put your name on your office door. Or you might have major renovations, hiring, training or purchases to make. Consider your new ownership as an opportunity to make design improvements if the location you’re buying is run down or in need of a coat of paint. A few cosmetic tweaks can communicate to customers that there’s a new owner eager to serve them well.

Do You Need Help?

You certainly can buy a new business but it may be helpful to hire a business broker. They know how to find the kind of business you’re looking for, and can help with due diligence and the negotiation process.

How to Buy an Existing Business

Now let’s look at the steps for how to buy a business.

Step 1: Do Your Due Diligence

It is your responsibility to learn as much as you can about the business. That means carefully analyzing financial records and tax returns or having a CPA or a consultant do it if you are not clear about what the owner discloses about the business’ financial health. You need to look at all the assets including intellectual property and be aware of all liabilities.

Also, check its credit history because you will be inheriting it. If the owner did not pay any outstanding bills, it will be reflected in the business credit scores and may affect your ability to secure future financing.

Step 2: Review the Business Plan

You’ll want to know as much as possible about business operations, so if the company has a business plan, ask to see it. This can give you insight into the previous owner’s vision for the company and you can see how well it is aligned with where the business is.

Step 3: Conduct a Business Valuation

The owner will have given you the sale price, but now it is up to you to do a business valuation to see how accurate that price is with the market value of the business. A business valuation should include both tangible and intangible assets, including real estate, monthly retainers, accounts receivable and debts.

A business broker, accountant or business consultant like Michael Bernard can help with these calculations. Ultimately, you’re trying to determine whether, at the asking price, you would be able to see a solid return on investment within a few years.

Step 4: Give Your Letter of Intent

This letter states your intent to purchase the business, though you can opt out if you decide it is not the right business. Some business owners won’t release tax returns and other financial information until you give them a letter of intent.

Step 5: Get Your Financing Together

We’ll cover this more in-depth in the next section, but before you can buy a business, you need to ensure you have enough cash to cover not only the sale price but also those costs you’ve calculated. If you do not have enough cash you may need to take out a small business loan.

Step 6: Sign on the Dotted Line

Sign the required legal documents to seal the deal. Once both parties have signed, the business is yours.

Financing Options for Buying a Business

Term Loan 

Banks and online lenders are willing to finance a business acquisition, if you qualify. You will need good to excellent credit for the low-interest rates.

SBA Loan

Another option is a loan backed by the Small Business Administration. These also offer low rates for those who qualify.

Seller Financing 

Some sellers, particularly those who are motivated to sell, may be willing to finance the deal. If you don’t qualify for a low-interest loan, this may be a good option. You may be asked to provide a down payment based on the asking price and then make monthly payments for a predetermined period of time.

Find the Business That’s Right for You 

Finding the right business that fits your needs and fulfills your dream will take time, but if you do your due diligence, you have the potential to build on top of a well-established business with your own unique flair.

 

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Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

Oct. 14, 2022|

TCMA- Fall 2022

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Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Magazine Inc. For more information or to report news email [email protected]

Oct. 12, 2022|

Modern-day land rush

Modern-day land rush

Food service distributor Cheney Brothers

High demand has led to record prices for land on which to build huge warehouses and distribution centers in the Treasure Coast. At Legacy Park in Port St. Lucie, more than 5 million square feet are developed, or soon will be, eventually employing more than 3,000. Food service distributor Cheney Brothers held a groundbreaking in April for its distribution center and food-service warehouse. CITY OF PORT ST. LUCIE

Region experiencing a boom in industrial land development

BY BERNIE WOODALL

There is a land rush like no one has ever seen for large plots ripe for industrial development on the Treasure Coast.

Jeff Chamberlin is one of the most active real estate professionals who deal in the large parcels in high demand mostly west of the heavily populated areas.

Chamberlin thinks of the 1920s political pitch promising a “chicken in every pot” as a sign of prosperity when he thinks of this industrial boom.

“Here on the Treasure Coast, we’re going to get a million-square-foot warehouse at every I-95 interchange,” Chamberlin, president of SLC Commercial, said.

Chamberlin’s firm brokered the land sale for the Amazon distribution warehouse, which Amazon calls a fulfillment center, on 110 acres at Midway Business Park on West Midway Road near Interstate 95. 

Midway and I-95 is just one of the areas being developed for industrial sites. Others include the Kings Highway corridor near the Orange Avenue [State Road 68] interchange with I-95 and Legacy Park at Tradition in Port St. Lucie at Becker Road and I-95.

There is also a booming area for industry between the Treasure Coast International Airport and Kings Highway, where 37 acres recently sold for $5.2 million in a deal brokered by Coldwell Banker Commercial Paradise.

SLOW START IN THE ’80S

One of the major companies at Legacy Park is FedEx

One of the major companies at Legacy Park is FedEx. The company’s distribution center is shown under construction in October 2021. Amazon is at Legacy, too. Legacy Park developer Sansone Group said it is a two-hour drive from 8 million people and a four-hour drive from 20 million people. CITY OF PORT ST. LUCIE

Lifelong St. Lucie County resident Hoyt C. Murphy Jr., a Realtor with the firm, said the promise of an industrial land boom is not new. It’s been around since the late 1980s when I-95 was completed from Miami to the Georgia state line. The completion of the interstate along with the confluence of it and Florida’s Turnpike in Fort Pierce made the area logistically alluring to industrial developers.

When his firm did the site sale for the Walmart Distribution Center on Jenkins Road in Fort Pierce nearly two decades ago, Murphy said he figured that a wave of similar sales was in the offing, but that didn’t happen.

“Then, in the past three years, it’s gone crazy,” Murphy said. “… well over 10 million square feet of industrial facilities are under construction or in the permitting process” in St. Lucie County.

The $5.2-million sale Murphy’s firm brokered was at an average of $140,000 an acre. Five years ago, a generous estimate of the value would have been $40,000 per acre, Murphy said.

Chamberlin says land values for large parcels good for industrial development are $150,000 to $200,000 per acre, up from $90,000 and less several years ago.

It’s the location, land price and the access to major highways that lures big companies from Amazon to FedEx to build in the region.

“You can reach 65% of the population in Florida within two to three hours” of St. Lucie County, said Pete Tesch, president of the St. Lucie Economic Development Center, which has been instrumental in the process of developing the large land parcels.

Tesch said the county and the Treasure Coast benefits by the growth of the overall Florida economy, which he says would be the 15th or 16th largest in the world if it were its own country.

industrial real estate developers, map

A half-dozen industrial real estate developers, all with multistate footprints, are working on seven St. Lucie County sites. Higher prices and fewer large parcels south of the Treasure Coast has pushed developers to Indian River, Martin and St. Lucie counties. ST. LUCIE ECONOMIC DEVELOPMENT COUNCIL

DELIVERING THE GOODS

There are precious few large parcels of land still open to industrial development in the more populated counties south of the Treasure Coast: Miami-Dade, Broward and Palm Beach. Those are also the three most heavily populated counties in the state to make up its largest consumer market.

When there are such parcels in the largest counties south of the Treasure Coast, the prices are much higher, said Chris Dzadovsky, St. Lucie County commissioner.

As the consumer market shifts to delivery-to-home purchases, there is more demand for massive warehouses and distribution centers, Chamberlin said.

 “This is all new territory for us,” Chamberlin said. “It’s the advent of distribution being the new retail. Delivery to your home.”

W. Lee Dobbins, a land-use attorney in St. Lucie County, said that rather than put a distribution warehouse in South Florida or Central Florida, it makes sense to locate on the Treasure Coast in order to serve both of those big markets. 

When city and county and economic development officials work to land large industrial facilities, they use code words to help identify them but keep their details secret until sales are closed.

Elijah Wooten Jr., business navigator for Port St. Lucie, said a Project Green and a Project Apron both call for 1-million-square-foot buildings north of the under-construction Amazon 1.1-million-square-foot distribution center in the Midway Business Center.

RIPE FOR DEVELOPMENT

Industrial land development is progressing on a smaller scale but is active in Indian River and Martin counties.

Phil Matson, community development director for Indian River County, said that there are about 9,000 acres of land for potential development in Fellsmere west of I-95 and north of State Road 60. And there is a 99-acre parcel ripe for development on Oslo Road and I-95 that was the former site of a state youthful offender prison.

There is major potential for industrial development on Oslo Road, in the southern part of the county, particularly once a new interchange at Oslo and I-95 opens in three years, Matson said. There is also a plan to improve Oslo Road from 58th Avenue to west of the interstate.

In northern Indian River County, an existing industrial park that is home to Triton Submarines has parcels available for development, Matson said.

In Fellsmere, there are several large land owners that have flirted with sales of large tracts, and some projects are in the planning stages, said Fellsmere City Manager Mark D. Mathes. Some of the acreage now devoted to citrus farming may become available, he said.

Land values are likely to continue to rise, and Fellsmere is located to take advantage of relatively low land prices and development expenses in an area close to growing Central Florida.

“If you want to get in, this is the time to get in. It’s about ready to take off,” Mathes said.

Chandler Bats

Not all companies coming to the Treasure Coast need huge warehouses. Chandler Bats, which makes wooden baseball bats for Aaron Judge of the New York Yankees as well as other Major League Baseball players, moved its headquarters and manufacturing plant from Pennsylvania to Port St. Lucie.
ST. LUCIE ECONOMIC DEVELOPMENT COUNCIL

JUST A MATTER OF TIME

Martin County Administrator Don Donaldson said that while there is industrial activity in the county, there are no 1-million-square-foot mega-warehouses going up or in the planning process. For now, the largest parcels are zoned for agriculture and do not allow for industrial development.

But Chamberlin says it’s a matter of time that pressure will build to create those huge buildings along I-95 in Martin County. It may take longer than in St. Lucie County, but Chamberlin says he still sees a million-square-foot warehouse at every I-95 interchange from the Palm Beach County line to Sebastian.

Frannie Hutchinson, St. Lucie County commissioner and lifelong resident of the county, said she has sought to bring smart development to the county in her 20 years as commissioner. 

She said that there was considerable interest in the county’s industrial land until the recession around 2008 quelled it for a decade or so.

“We have been discovered,” Hutchinson said. 

The type of industrial development happening will help keep taxes down for homeowners and create jobs.

“These huge buildings are going to generate a lot of taxes and they are not going to add to the traffic in town,” Chamberlin said.

However, Dzadovsky is aware of the burden that the growth might cause homeowners.

“We have tried to focus on taking the pressure off the homeowners and diversify our tax base,” he explained. “When you are too reliant on residential rooftops to pay for your infrastructure, it puts too much of a strain on homeowners.” 

 

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Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

Oct. 12, 2022|

Women mean business

Women mean business

Tom Kindred with Alice E. Lee, president/general manager of WFLM 104.5.

Tom Kindred with Alice E. Lee, president/general manager of WFLM 104.5. She is the first black owner of a regional radio station. IRSC

BY TOM KINDRED

In the world of small business, October holds special meaning because it is National Women’s Small Business Month. It is in October when the business community celebrates and recognizes the 12.3 million [and growing] women-owned businesses.

There is good reason to highlight and celebrate these businesses because they generate $1.9 trillion in revenue and employ nearly 9 million people. Like all small business operations, women-owned small businesses support local nonprofits, schools and governments through their tax dollars. Women-owned businesses appear in all marketplace segments including: service providers, STEM fields, technology, manufacturing, education, professional services and retail.

The Treasure Coast is home to many women-owned small businesses. These talented and creative business women possess incredible business acumen, which they leverage to enhance and increase the value of the Treasure Coast marketplace. Just a few examples of these Treasure Coast women-owned businesses include:

• Kimberly Amsalem – Graphic Designs International
• Yolanda Solorzano – Los Cocos Mexican Restaurant
• Darla Rose – Bella Rose Day Spa
• Amy Stapleton – Chatables
• Vanessa Freeman – Hart’s Mobility
• Alice E. Lee – Midway Broadcasting Co. – WFLM 104.5
• Julissa Mercado and Ashley Jameson – The Skin Spot
• Linda Schlitt-Gonzalez – Coldwell Banker Paradise - Ed Schlitt Realtors

These savvy businesswomen also understand the potential power and opportunity of government contracting and becoming a certified women-owned business. In 2020, women-owned small businesses were awarded $27.1 billion in prime contracts and $14.3 billion in subcontracting contracts. That is more than $41 billion in revenue for women-owned small businesses. And yes, that is billion with a B.

Scotty Wilson, the Procurement and Technical Assistance Center specialist with the Florida SBDC at Indian River State College will assist and guide a small business owner in navigating all the steps required to achieve woman-, minority-, veteran- and disabled veteran-owned status and certification. Once the small business owner has successfully obtained certification, the center will then assist the small business owner in pursuing and connecting to government contracting.

In the past three years, Wilson’s leadership, along with the assistance of the Florida SBDC at IRSC, has helped regional small businesses connect to more than $185 million in government contracts. That is real revenue generated by real Treasure Coast small business owners that brings real value to the business, the owner and the marketplace.

So, congratulations to all the Treasure Coast women-owned small businesses. October is the month to celebrate your entrepreneurial spirit, dedication, success and commitment to your business. Thank you for all you do for your families, your organization’s team and the region’s small business marketplace.

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Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

Oct. 12, 2022|

Florida SBDC IRSC teaches how to become a bankable business

Florida SBDC IRSC teaches how to become a bankable business

 

 

The Florida Small Business Development Center (SBDC) at Indian River State College (IRSC) in collaboration with the Florida Bankers Association will conduct and host the How to Become a Bankable Business seminar.  The event will take place on the IRSC Massey Campus Kight Center For Emerging Technologies in Fort Pierce on Friday, Oct. 21, 2022 from 8:00 to 11:00 a.m.

Capital is critical for entrepreneurs as they launch and grow their businesses. A regionally healthy small business community is essential for sustainable economic development and neighborhood revitalization. Entrepreneurs need access to capital, networks and guidance as they grow. Access to capital supports the region’s recruitment of new business ventures, while also providing existing operators the environment to expand operations, which creates new employment opportunities. Frequently, worthwhile projects with great economic potential never move beyond the planning stage due to the inability to access needed capital.

In this seminar business owners will learn from the top banks in the community, get questions answered from real local lenders, and network with other business owners, bankers, and more.

There is no cost to attend, all interested can register via: https://form.jotform.com/222795410943156

Sponsors and speakers for this event include Marine Bank & Trust, PNC Bank, and SouthState Bank. Refreshments and networking opportunities will be available.

Hosted by Indian River State College, the Florida SBDC at IRSC provides aspiring and existing small businesses in Indian River, St. Lucie, Martin, and Okeechobee counties with no-cost consulting, low-cost training, and access to business data and research resources.

To learn more about this event or the FSBDC at IRSC please call (772) 336-6285, or email [email protected]

 

About the Florida SBDC Network:

For over forty years, the Florida SBDC Network, the state’s principal provider of business assistance [Fl. Stat. 288.001], has nourished a statewide partnership between higher education and economic development to provide existing and emerging small and medium-sized business owners with management and knowledge resources that enable overall growth, increased profitability, and economic prosperity for Florida’s economy.

In 2019, Florida SBDCs provided 114,064 hours of professional business consulting to 12,535 client businesses, resulting in 37,966 jobs impacted; $4.4 billion in sales generated; $496.5 million in government contracts acquired; and $255.3 million in capital accessed; and 453 new businesses started.  With over 40 offices statewide, the Florida SBDC is funded in part by the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network, headquartered at the University of West Florida, is nationally accredited by the Association of SBDCs and is a recipient of the President’s E Award for Export Service. Florida SBDC services are extended to the public on a nondiscriminatory basis. Language assistance services are available for individuals with limited English proficiency. For more information, please visit www.FloridaSBDC.org.

 

 

 

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]
Oct. 10, 2022|