Business Buzz

Dyer Difference Award Helps Children in Crisis

Dyer Difference Award Helps Children in Crisis

 

John Dyer and Jonathan Holmes present the December Dyer Difference Award to Debbie Butler of Guardians for New Futures.

A sad reality of life in 2022 is that there are children among us who have been victims of sexual and physical abuse by the very people they trust and love more than anyone in the world. Understandably, removing a child from a dangerous living situation is simply not enough. That’s where Guardians for New Futures and the recently opened Children’s Advocacy Center (CAC) come in. The CAC serves children throughout the 19th Judicial Circuit, which encompasses Indian River, St. Lucie, Martin, and Okeechobee Counties and provides a multidisciplinary team of professionals to coordinate all the necessary resources and services that child might need at the most difficult time. By combining all the services in one place and with one cohesive team of professionals, a child who has already been traumatized can choose to share the story just once in a setting that is designed to be comfortable and child-focused. Since opening the doors in July, CAC has already served nearly 200 sexually and physically abused children, and is on track to serve approximately 1,200 each year. The Dyer Difference Award will help aid in the creation of a Healing Garden on site.

Toys for Tots Coordinator Star Knudson accepts the Dyer Difference Award from General Manager Jonathan Hardie.

Even during the happiest season of the year, we all need a little magic to believe in, especially those among us who are most tender of age. In Indian River County, the spirit of Christmas lasts all year long, and there is no question at all about the existence of Santa and Christmas miracles. Last year, Toys for Tots of Indian River County distributed more than 52,000 toys and helped make Christmas a little brighter for 8,269 children. Since its inception in 1947, the Marine Corp’s Toys for Tots program has been providing holiday toys and gifts for children who might not otherwise receive them. Seventy-five years later, the need is larger than ever to help children throughout Indian River County, and volunteers have been working hard all year long to meet the needs and create a few Christmas miracles right in our own backyard.

The Dyer Difference Award is all about celebrating the beauty and kindness in our midst. For the Dyer family and the members of the Dyer staff, the award and the $6,000 in donations made monthly between the St. Lucie and Indian River Counties are all about helping to make a positive difference in the community. For the recipients, it’s an acknowledgement of their tireless efforts to do the same and a much-needed financial boost to help further their missions. If you’d like to nominate a non-profit organization for the Dyer Difference Award, please visit www.dyerdifference.org or find Dyer Difference on Facebook.

 

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]

Dec. 23, 2022|

Bank of America finds 66% of small business owners expect revenue increases; 52% plan to expand their businesses

Bank of America finds 66% of small business owners expect revenue increases; 52% plan to expand their businesses

New report spotlights women and minority business owners, including challenges and overall business and economic outlook

 

 

Despite headwinds from supply chains, inflation and labor shortages, small business owners are forecasting a strong year ahead, according to the 2022 Women & Minority Business Owner Spotlight, a new report from Bank of America exploring the outlook of entrepreneurs nationwide. The report is based on a survey of more than 1,300 small business owners across the country, with additional insights into gender and ethnicity, and found that revenue expectations rose to a seven-year high, and expansion plans increased significantly since the spring. Over the next 12 months:

  • 66% of business owners expect revenue to increase—a seven-year high
  • 52% plan to expand their business—up from 37% this spring
  • 83% plan to obtain funding for their business—up from 70% this spring

As the possibility of a recession looms, 77% of entrepreneurs say their business is equipped to survive a recession.

“As we look ahead to 2023, small business owners are optimistic about the future, even with ongoing economic challenges and uncertainty,” said Sharon Miller, President, Small Business, Head of Specialty Banking and Lending at Bank of America. “The data underscores what we’ve seen time and time again: the continued resilience of small business owners whose success remains foundational to our local and national economies.”

Inflation and commodities prices are top concerns

When asked about their primary concerns, small business owners identified inflation (75%) and commodities prices (69%), followed by a potential recession (67%), the U.S. political environment (66%) and interest rates (65%). A strong majority (88%) say inflation and supply chain issues (80%) are continuing to impact their operations, leading to price increases.

Hiring plans are up significantly with wages on the rise to attract talent

Amid labor shortages, business owners reported that their hiring plans are reaching the highest levels in seven years, with 38% planning to hire in the next 12 months. The majority (61%) of business owners say labor shortages are currently impacting their business, up from 41% in the spring. Among those business owners impacted:

  • 49% are working more hours
  • 31% are raising wages to attract competitive talent
  • 30% are having difficulty filling job openings

The report also includes specific insights on the perspectives of women, Black, Hispanic-Latino and Asian American and Pacific Islander (AAPI) business owners, examining key areas including access to capital, business outlook, social change and community.

Women, minority entrepreneurs face barriers accessing capital

More than a quarter (29%) of women business owners surveyed said they do not think they will ever have equal access to capital, while 40% of Black business owners, 27% of Hispanic-Latino business owners and 22% of AAPI business owners said the same.

Minority business owners reported more challenges accessing capital for their businesses than the national average, with 46% of Black and Hispanic-Latino business owners and 55% of AAPI business owners reporting they’ve personally faced challenges. Black business owners were most likely to say they are concerned about credit availability—57% of Black business owners surveyed expressed concern vs. 45% overall.

Women business owners project growth but are less optimistic than men

Women business owners have an overall positive business outlook, while confidence in their business and the broader economic landscape is more tempered than their male peers. Over the next 12 months:

  • 63% expect revenue to increase vs. 68% of male business owners
  • 47% plan to expand their business vs. 57% of male business owners
  • 38% are confident that the national economy will improve vs. 50% of male business owners

Overall, women business owners say they face more challenges in business than their male counterparts, with the majority (59%) saying they have to work harder for the same success as men.

Black business owners advocate for social change through their businesses

Fifty-five percent of Black business owners say racial justice and equity are important causes for their business, compared to 30% of non-Black business owners. Eighty-seven percent of Black business owners say they are committed to driving social change through their business, and two in five have active pledges or commitments toward social causes through their business, including volunteering, making operational changes and monetary commitments. As a result of these efforts:

  • 61% say they have increased sales
  • 40% say they deepened ties to their community
  • 34% say they have increased their customer base

In addition, Black business owners are more optimistic than their non-Black counterparts about their business outlook. Over the next 12 months:

  • 72% expect revenue to increase vs. 63% of non-Black business owners
  • 65% plan to expand their business vs. 50% of non-Black business owners

Hispanic-Latino business owners prioritize building generational wealth

Keeping the future of their families in mind, a strong majority (86%) of Hispanic-Latino business owners are committed to building generational wealth through their business—compared to 77% of non-Hispanic-Latino business owners. Community involvement is a priority, too: 88% of Hispanic-Latino business owners say they actively give back to their communities, taking actions such as donating products/services, volunteering and sponsoring local events and teams.

Additionally, Hispanic-Latino business owners are more optimistic than their non-Hispanic-Latino peers about their business outlook. Over the next 12 months:

  • 71% expect revenue to increase vs. 65% of non-Hispanic-Latino business owners
  • 59% plan to expand their business vs. 52% of non-Hispanic-Latino business owners

AAPI business owners rely on family to drive business

AAPI business owners report strong support systems, as 80% say their family supports their business. Providing for the next generation is also top of mind, with 82% of AAPI business owners aiming to build generational wealth through their business. Additionally, more than one in three (37%) AAPI business owners said they received guidance on starting their business from family members.

When asked about their business outlook for the coming 12 months, 62% of AAPI business owners said they expect their revenues to increase, while 60% said they plan to expand their business (vs. 52% of non-AAPI business owners).

 

For an in-depth look at the insights of the nation’s small business owners, please read the full Bank of America 2022 Women & Minority Business Owner Spotlight.

Bank of America 2022 Women & Minority Business Owner Spotlight

Ipsos Public Affairs conducted the Bank of America 2022 Women & Minority Business Owner Spotlight survey online between July 26 and August 17, 2022 using a pre-recruited online sample of small business owners. Ipsos contacted a national sample of 1,308 small business owners in the United States with annual revenue between $100,000 and $4,999,999 and employing between two and 99 employees, as well as 357 interviews of Hispanic small business owners, 369 interviews of Black small business owners and 150 interviews of Asian American small business owners. The final results for the national and demographic segments were weighted to national benchmark standards for size, revenue and region, while the final results for the Hispanic segment were weighted for size, revenue, region, and whether the respondents were primarily English-speaking or Spanish-speaking.

 

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Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

 

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|

Oceanside Rotary honors hometown surgeon Sarbak for humanitarianism

Oceanside Rotary honors hometown surgeon Sarbak for humanitarianism

 

Sandra Lilo, DDS, pins John Sarbak, MD with the Paul Harris Fellow medal.

 

The Rotary Club of Vero Beach Oceanside presented hometown surgeon, John Sarbak, MD, with the Paul Harris Fellow award on behalf of Sandra Lilo, DDS, RotoCleft volunteer and member of Seminole Lakes Rotary Club, at their Sept. 13 meeting.

The Paul Harris Fellow recognizes individuals who make substantial contributions to Rotary and its foundation. Dr. Sarbak received the award for his annual work with RotoCleft, which is currently a part of and operated by the Rotary Club of Seminole Lake Foundation. 

RotoCleft organizes and funds a yearly surgical mission to provide free corrective surgery for children suffering from cleft lip and cleft palate deformities in the Quechuan Indian population in Peru; the area has a very high incidence of cleft palate deformities. This condition is associated with hearing loss, speech difficulty, ear infections, food intake and dental problems. A team of approximately 25 surgeons, anesthesiologist, nurses, non-medical volunteers and bi-lingual facilitators perform up to 35 surgical procedures in a three-day period. The team donates five days and the expense of the trip.  

Dr. Lilo stated, “Dr. Sarbak joined the RotoCleft team in 1999 as a resident and is an anchor for the team and patients. He gives his time and pays his own expenses so these kids can have a chance at life. His generosity and talent are a key reason we have been so successful in providing care to this underserved population.” 

 

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]
Sep. 30, 2022|

Bank of America study says offering financial wellness tools increases employee retention

Bank of America study finds 84% of employers say offering financial wellness tools increases employee retention

97% of employers feel responsible for employee financial wellness, with 91% seeing higher employee satisfaction when offering resources to manage overall wellbeing

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Bank of America announced findings from its 12th annual Workplace Benefits Report, Navigating a New Era of Financial Wellness.” The report revealed that 84% of employers now say that offering financial wellness tools can help reduce employee attrition, and 81% say wellness tools help attract higher quality employees. This is critical to employers, as 46% have seen an increase in resignations over the past year. In addition, approximately one in three employees have switched jobs or thought about switching jobs in the past year.

The report also explored the impact of the current economic and inflationary environment on employees’ financial wellness, revealing that 62% of employees are stressed about their finances. In addition, 80% of employees are concerned about inflation, and 71% feel the cost of living is outpacing growth in their salary or wages. This is having an impact on employees overall feeling of financial wellness. After the percentage of employees who feel financially well bounced above pre-pandemic levels in February 2022 (57% .vs 55% in 2019), the percentage dropped to a 5-year low of 44% in July 2022.

“Offering comprehensive benefits and wellness programs can be critical for employers looking to reduce attrition, can empower employees to take control of their personal finances, and improve employee satisfaction,” said Lorna Sabbia, Head of Retirement and Personal Wealth Solutions at Bank of America. “We are committed to partnering with employers to provide financial wellness solutions through a holistic and integrated approach that’s actionable for every employee.”

Based on a nationwide survey of 824 employees and 846 employers conducted in February, and a second survey of 478 employees conducted in July, the Workplace Benefits Report examines trends related to workplace financial benefits and wellness programs.

Employers are embracing financial wellness programs and expanding support

In response to increased stress about financial wellness, employers continue to embrace programs to expand support for their employees. For example, 91% of employers see higher employee satisfaction when they offer resources to manage overall wellbeing. Other top employer findings include:

  • Employers feel an increased sense of responsibility for the financial wellness of employees. 97% of employers feel responsible for employee financial wellness (up from 95% in 2021, and from 41% in 2013) – with two-thirds (62%) going as far to say they feel extremely responsible (up from 56% in 2021). Employees agree with this sentiment, as 82% say employers should play a role in supporting their financial wellness.
  • Wellness programs result in tangible benefits for employers and employees. 80% of employers agree that offering financial wellness support can result in more satisfied, loyal, engaged and productive employees. Employers who take it a step further and broaden their wellness programs to include mental and physical wellness resources are seeing noticeable improvements in productivity (50%), employee stress (43%), employee morale (41%) and employee creativity and innovation (36%).
  • Equity grants are powerful recruitment and retention incentives. 76% of employers believe equity compensation is a differentiator for employee recruitment and retention, and 44% of employees who participate in equity compensation plans say it was an important reason for accepting the job.
  • Health care remains an opportunity. 84% of employers feel very responsible for their employees’ understanding of retirement healthcare needs and costs, and 89% of employers who offer Health Savings Accounts (HSAs) contribute to their employees’ savings. Healthcare education is an opportunity, with only 54% of employers communicating about these topics at least once a year.
  • Access to investment advice. With four-in-ten employees saying they want access to advice from an investment professional, 62% of employers are now offering employees access to investment advice services (up from 55% in 2021).
  • Heightened focus on D&I programs. 74% of employers believe that diversity and inclusion programs are important for retaining talent, and half (50%) of employers currently offer diversity and inclusion programs.

Employees seeking programs to help alleviate financial strain and plan for the future

Employees express uncertainty about current economic conditions and are taking actions to relieve financial strain:

  • Employees are dipping into savings due to financial strain. Half of employees have taken action in the last six months due to financial strain, including tapping into emergency savings (21%), working additional hours (21%), looking for higher paying jobs (20%) and taking out a 401(k) hardship withdrawal (6%).
  • Retirement remains a top concern, driving action. As of July 2022, 56% of employees are confident they will reach their retirement goals, down from 69% in February 2022. Seventy-four percent say investing in their 401(k) and other accounts will help them build a retirement nest egg, and 61% are contributing enough to maximize their employer match.
  • Education about Social Security is an opportunity. Only 38% of employees say they understand social security benefits. Even among Baby Boomers, 41% still do not understand social security. While 48% of employees indicate they are not getting enough education about the program, only 40% of employers offer employees social security support and education.
  • Employees are more optimistic about their intermediate, longer term future. When looking at the next 2-3 years, most employees said they felt optimistic about their financial (56%), social (60%), and mental (62%) well-being.
  • Digital tools play a key role in driving employee engagement. Employees are seeking out digital tools that offer personalized support, and employees find tools that can provide streamlined information and help track and set financial goals most useful. Fifty-two percent of employees prefer to use a digital app to manage their finances.

Financial wellness levels vary based on employees’ ethnicity, gender and generation

Employees continue to show differences in financial wellness when viewed by gender, ethnicity or generation. Though the financial wellness gap has closed for women, it has expanded for minorities since February. Top findings include:

  • Women lag men but are closing the gap when planning for long-term goals.Women continue to trail men in their feelings about financial wellness and preparedness. For example, 54% of men and 69% of women do not understand social security benefits. Despite this, the financial wellness gender gap is closing. As of July 2022, women were less likely to feel financially well than men by five percentage points (42% of women .vs 47% of men), down from 10 percentage points in 2021 (47% of women .vs 57% of men) and 17 percentage points in 2020 (41% of women .vs 58% of men).
  • Minorities have seen a greater negative impact to their feelings of financial wellness. Employees across various ethnicities reported significant drops in their perceptions of financial wellness, with minorities reporting more significant declines. For example, 49% of White/Caucasian employees feel financially well (compared with 56% in February), followed by 37% of Asian employees (67% in February), 33% of Hispanic/Latino employees (47% in February) and 32% of Black/African American employees (50% in February).
  • Feelings of financial wellness have declined across generations this year. Since February, feelings of financial wellness have declined significantly across generations, with Gen Z/Millennials at -15%, Gen Xers at -14% and Baby Boomers/Silent Generation at -10%.

Bank of America’s Retirement & Personal Wealth Solutions organization serves more than 26,000 companies of all sizes and more than 5.9 million employees as of December 31, 20211. Bank of America offers institutional client employees a range of financial benefit programs and solutions to help them pursue their financial future.

More findings, including action steps for employers, are available in the Bank of America 2022 Workplace Benefits Report.

Workplace Benefits Report Methodology

Escalent surveyed a national sample of 834 employees who are working full-time and participate in 401(k) plans, and 846 employers who offer both a 401(k) plan and have sole or shared responsibility for decisions made in the plan. The survey was conducted between February 3, 2022 and February 28, 2022. To qualify for the survey, employees had to be current participants of a 401(k) plan and employers had to offer a 401(k) plan option. Neither was required to work with Bank of America. Bank of America was not identified as the sponsor of the study. Bank of America Retirement & Personal Wealth Solutions help employers and employees to take action and work toward their financial goals today and into retirement.

July 2022 Pulse Study Methodology

Escalent surveyed a national sample of 478 employees who are working full-time and participate in 401(k) plans. The survey was conducted between July 5, 2022 and July 19, 2022. To qualify for the survey, employees had to be current participants of a 401(k) plan. They weren’t required to work with Bank of America. Bank of America was not identified as the sponsor of the study. Bank of America Retirement and Personal Wealth Solutions help employers and employees to take action and work toward their financial goals today and into retirement.

Financial Wellness at Bank of America

At Bank of America, we know that supporting the physical, financial and emotional wellbeing of our employees in their personal life also supports them in their work life — so they can be the best at work and at home. When it comes to financial wellness, we believe that the more informed people are about their money, the clearer their financial outlook can be. This applies not just to our clients, but to our employees, as well. This is why we offer robust financial offerings to our employees that focus on driving better behaviors across life priorities and the financial spectrum — budgeting, planning, saving, investing and more. Our competitive financial benefits – including 401(k) plans that include a company match, retirement advice2, health savings accounts3, banking4 and investing5 programs, educational resources and financial wellness tools – help employees address money issues in the here-and-now, prepare for retirement and help protect their family over the long term.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (ATMs) is listed on the New York Stock Exchange.

 

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]
Sep. 30, 2022|

Bank of America payments and spending data shows continued small business resiliency

Bank of America payments and spending data shows continued small business resiliency

Small business payments per client increased 11% year over year in August; Card spending per client increased 13% year over year

 

The Bank of America Institute released a new publication which finds continued resilience in small businesses. New Bank of America small business data shows that, despite economic headwinds, small businesses continue to strengthen in a variety of areas, including credit and debit card spending, business travel expenditures and payroll payments. Overall small business payments per client increased 11% year over year in August, up from 3% year over year in the prior month. Card spending per client increased 13% year over year last month, outpacing July’s 7% growth rate.

One important reason for the continued resiliency in small businesses is the return of business travel. According to the US Travel Association, business travel accounted for more than a quarter of total travel spending in the US prior to the pandemic. Bank of America internal data indicates that the number of travel transactions per small business client is at 90% of the 2019 annual average, the highest level since the pandemic began. This includes airlines, lodging, cruise lines, travel agency, car rental and other transportation. Furthermore, small business card spending per client for travel increased 31% year over year in August, up from 19% in July.

Small businesses also continue to see strength in payroll payments. The average overall payroll spend per client was up 11% year over year in July on a 3-month rolling average, suggesting robust hiring and wage growth momentum. Restaurant and bar payroll payments are easing from recent highs, down to a still resilient 18% year over year in August.

Other highlights of the publication include:

  • Small business card spending varied greatly across annual income tiers, and small businesses with greater annual revenues spent at a faster pace than those with lower annual revenues.
  • For small businesses with annual sales revenue higher than $1 million, card spending per client for travel was up the most, at 43% year over year in August. This increase was partially due to a reversal of the depressed levels of spending on business travel last August due to the spread of the Delta variant.
  • After-tax wages based on the internal Bank of America consumer deposit data for small business clients were up 6.1% year over year on a 3-month rolling basis in August (for more please see our latest Consumer Checkpoint). This outpaces data from the Bureau of Labor Statistics, which finds that average hourly earnings for August increased by 5.2% year-over-year.

“Despite economic headwinds like high inflation, small businesses are heading into the fall with cautious optimism,” said Anna Zhou, economist for the Bank of America Institute. “We see things like the rebound in small business travel and resilience in payroll payments as further evidence the economy is getting back on track.”

Small Business Checkpoint

Small Business Checkpoint is a regular publication from the Bank of America Institute. It aims to provide a real-time assessment of small business spending activities and financial well-being, leveraging the depth and breadth of Bank of America’s proprietary data. Such data is not intended to be reflective or indicative of, and should not be relied upon as, the results of operations, financial conditions, or performance of Bank of America.

See the Small Business Checkpoint for methodology and definitions.

 

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Bank of America Institute

The Bank of America Institute is dedicated to uncovering powerful insights that move business and society forward. Established in 2022, the Institute is a think tank that draws on data and analyses from across the bank and the world to provide timely and original perspectives on the economy, Environmental, Social and Governance (ESG), and global transformation. The Institute leverages the depth and breadth of the bank’s proprietary data, from 67 million consumer and small business clients, 54 million verified digital users, $3.8T in total payments in 2021 and $1.4T in consumer and wealth management deposits. From this robust data set, the Institute provides a unique perspective on the health of the economy. It also elevates thought leadership from throughout the bank that addresses long-term trends and shares these findings with the general public.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

 

 

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]
Sep. 19, 2022|

Former fortune 500 executive returns to Fort Pierce to inspire students and community

Former fortune 500 executive returns to Fort Pierce to inspire students and community

IRSC to host ‘Soaring: Turning Challenges into Success’ with Lee Rhyant on Sept. 22

 

The public is invited to join Lee E. Rhyant, former executive vice president and general manager for Lockheed-Martin Marietta and Fort Pierce native son, on Thursday, Sept. 22, 2022, at 5:30 p.m. for a community conversation in support of his new book, Soaring Eleven Guiding Principles on the Path from Segregation to Success, co-authored with Dr. Catherine Lewis.

The program will take place at the Kight Center for Emerging Technologies, Room V-110, on the Indian River State College Massey Campus, 3209 Virginia Ave. in Fort Pierce. The talk will be followed by a meet and greet and book signing with the authors. The event is free and open to the public.

A powerful underdog story, Soaring delivers practical leadership advice, business lessons, and tips for career and personal success mined from Rhyant’s 40 years as a corporate leader. Born into poverty in the postwar South, Rhyant was the fourth of eight children raised by a family of sharecroppers struggling to survive the last decades of segregation.

As a child, Lee’s family moved to Fort Pierce, and with help from his family, teachers, clergy, and local community, reached the executive ranks at General Motors, Rolls-Royce Aeronautics, and Lockheed-Martin. During “Soaring: Turning Challenges into Success,” Rhyant and co-author Dr. Catherine Lewis will share his guiding principles and tips for success to demonstrate the transformative power of perseverance.

“I’m cannot think of a better place to launch the publication of this book than in my hometown,” shares Lee Rhyant. “Fort Pierce shaped me into the person I am today, and my family and I owe so much to this community. Indian River State College helped change the trajectory of my life, and I hope that by sharing my story, I can inspire and motivate a new generation to strive for success.”

The event at IRSC marks the launch of the book Soaring Eleven Guiding Principles on the Path from Segregation to Success (UGA Press, 2022).

 

More about Lee Rhyant

From 2000 to 2011, Rhyant served as Executive Vice President and General Manager for Lockheed-Martin Marietta. Since leaving the aerospace industry, Lee has been highly sought after as an executive coach and confidant to Fortune 500 executives across the industrial spectrum. He is the President and CEO of LER Solutions, an executive coaching firm in Atlanta, and a member of Omega Psi Phi Fraternity.

About Dr. Catherine Lewis

Dr. Catherine Lewis is assistant vice president for Museums, Archives & Rare Books and professor of history at Kennesaw State University. She has curated more than 40 exhibitions around the nation and is the author, co-author, or co-editor of fifteen books.

 

Media interested in covering the event or seeking an advance interview with Lee Rhyant should contact Suzanne Seldes at [email protected] or 772-462-7265.

 

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]

 

Aug. 29, 2022|

Hand & Stone announces grand opening of new spa in Port St. Lucie

Hand & Stone announces grand opening of new spa in Port St. Lucie

Elizabeth Whitby brings premier massage and facial spa brand to the East Port community

 

 

Hand & Stone Massage and Facial Spa, the nation’s leading luxury massage and facial spa franchise, announced the opening of its newest franchised location in Port St. Lucie. Located at 9144 US Highway 1, the new Hand & Stone Port St. Lucie East Port spa is owned and operated by experienced multi-unit franchisee Elizabeth Whitby, who owns four other successful Hand & Stone spas in Winter Park, Palm City and the Melbourne area. With the opening of her newest spa, Whitby brings Hand & Stone’s signature luxury spa experience to East Port, making high-end wellness services affordable and accessible to the coastal community.

 

“As an experienced Hand & Stone franchise owner, I have no doubt we will have great success with this new East Port location,” said Elizabeth Whitby, owner of Hand & Stone Port St. Lucie East Port. “It is exciting to be part of a growing presence in Port St. Lucie and Florida, providing accessible self-care and an unmatched guest experience that is far from one size fits all.”The newest Hand & Stone Port St. Lucie spa features high-quality professional massage services, including Swedish, Himalayan Salt, Sports, Deep Tissue, Oncology and Prenatal massages.

 

Guests can also visit the new spa to enjoy Hand & Stone’s signature hot stone massage and best-in-class facial treatments tailored to each individual's needs or skin concerns, with a wide-range of services available for women, men and teens.Like all Hand & Stone spas nationwide, the new Port St. Lucie East Port location offers advanced skincare and spa services that incorporate new technologies at the forefront of the wellness market to enhance each guest’s overall experience. These advanced services include Decompression Therapy massage, Dermalinfusion facial, NuFACE microcurrent facial, Percussive Therapy massage and LED Phototherapy facial, as well as innovations such as CBD oil enhancements and partnerships with award-winning skincare lines Dermalogica® and ClarityRX (CBD offerings vary by market).

 

All Hand & Stone services are performed by experienced licensed estheticians and massage therapists. The brand’s commitment to guest experience has translated to an unparalleled level of expertise at each location, supported by best-in-class training and ongoing education resources. At Hand & Stone Port St. Lucie East Port, members will have access to a team of wellness experts who specialize in providing exceptional skincare and massage treatments, ensuring a tranquil, relaxing and comfortable environment. The Port St. Lucie East Port Hand & Stone spa is open Monday-Friday from 8 a.m. to 10 p.m. and Saturday and Sunday from 8 a.m. to 9 p.m. For more information about Hand & Stone’s massage and facial services or to schedule an appointment, call (772) 251-1205 or visit www.handandstoneportstlucieeastport.com.

 

ABOUT HAND & STONE MASSAGE AND FACIAL SPA

Hand & Stone is a 500-plus unit massage and facial spa franchise with a mission to bring massage and facial services to the masses. Launched in 2004, Hand & Stone now has locations in 35 states and Canada. Over the past several years, the brand has garnered noteworthy industry recognition including being named No. 1 in the spa category by Entrepreneur Magazine, ranked No. 8 on Forbes' Best Franchises to Buy list in the high investment category and is the fastest-growing spa concept in the country. For more information on Hand & Stone, visit www.handandstonefranchise.com.

 

 

 

 

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]
Aug. 11, 2022|

The Grove, Cucina & Wine earns Wine Spectator restaurant award in 2022, third year in a row

The Grove, Cucina & Wine earns Wine Spectator restaurant award in 2022, third year in a row 

The Grove, Cucina & Wine Bar among 3,776 winners; awards program for World’s Best Wine Lists pays tribute to resilience of restaurant industry amid global pandemic

 

 

The Grove Pizza Cucina & Wine Bar was honored for the third year in a row for its outstanding wine program in Wine Spectator’s 2022 Restaurant Awards, which celebrate the world’s best restaurants for wine.

“I want to congratulate all 3,169 restaurants that earned one of Wine Spectator’s three awards for their devotion to all things wine,” said Marvin R. Shanken, Editor and Publisher, Wine Spectator. “These awards not only guide our readers to dining establishments with impressive wine lists and outstanding service but also serve to honor restaurants for their achievements and commitment to maintaining pristine cellars. We are thrilled to reveal our 2022 Dining Guide, which points to places where wine drinkers are warmly welcomed.”

“Luis and I are thrilled to be recognized by the Wine Spectator for our dedication to excellence with our Award of Excellence again in 2022. As long-time Martin County residents, it’s an honor to bring light to our work and dedication to elevating the dining scene and level of hospitality here in Martin County.” -Jen Reyneri, Sommelier and Co-Owner “We recently returned from our Southern Italian culinary research trip to this awesome news, and are excited to share our love for food and wine with our community, guests, and wine club members.” States Co-Owner Luis Reyneri, Advanced Sommelier and Certified Wine Educator.


About The Grove, Pizza Cucina & Wine Bar

Excerpt, Wine Spectator, 8 Piping-Hot Pizza Places with Terrific Wine Lists “Jen and Luis Reyneri, the wife-and-husband owners of the Grove Pizza Cucina & Wine Bar, met 20 years ago in Orlando, Fla. Driven by a passion for wine, the couple spent time living abroad in Europe, visiting a variety of winegrowing regions including Italy, France, Spain and Germany. With some global perspective under their belt, the Reyneris returned to Florida to open their restaurant in 2019, and the Grove earned its first Award of Excellence one year later. Luis oversees the frequently evolving wine list. Chef Ian McCue crafts seasonal Italian dishes plus specialty pizzas with options like chicken pesto and burrata flatbread, using fresh produce brought in daily and sauces made in-house.”

The Grove was established in 2019, but the journey to its inception spans over 20 years and two continents. Husband & wife sommelier team/owner-operators are on mission to carefully curate cuisine &  culture by providing world-class hospitality experiences in their small, sleepy beach town. Frequently, guests comment since The Grove came to town, they have escalated the culture through culinary and hospitality as forerunners in this up and coming community. The dynamic duo of Jen and Luis Reyneri met over 20 years ago in Orlando, Florida. Since then, the hospitality industry has taken the Reyneri family, including their two sons, all over the world including a year abroad in Europe studying food and wine. With international experience under their belts, they returned to Las Vegas and later back to their roots and family in South Florida to open The Grove in 2019, going on to win Wine Spectator Award of Excellences in 2020 , 2021 & 2022 and won Diner’s Choice for Best Food through Open Table two years in a row. The Reyneri’s not only pride themselves with excellence in service to their guests with a talented certified culinary team, but in building a strong, family-like team culture where Cuban coffee is served at pre-shift every day. Many employees have celebrated  3 year work anniversaries at The Grove and have been promoted from within.  Most recently, the Reyneri’s are expanding their philanthropic outreach with the creation of the Treasure Coast Charity Wine Auction, a newly incorporated 501-C3 with its first events to follow this fall. Follow the Grove online at TheGroveHobeSound.com and on Facebook or Instagram @TheGroveHobeSound 

The Grove, Pizza Cucina & Wine has won the AWARD OF EXCELLENCE: The Award of Excellence recognizes restaurants whose wine lists feature a well-chosen assortment of quality producers along with a thematic match to the menu in both price and style.

Follow the Restaurant Awards on Twitter and Instagram, with hashtag #WSRestaurantAward, and The Grove on Instagram, Facebook and Twitter. Winners are also profiled in the free Restaurant Awards app, available for iPhone and iPad users. Wine Spectator’s special Restaurant Awards issue became available to readers July 12.

About Wine Spectator

Wine Spectator is the world’s leading authority on wine. Anchored by Wine Spectator magazine, a print publication that reaches around 3 million readers worldwide, the brand also encompasses the Web’s most comprehensive wine site (WineSpectator.com), mobile platforms and a series of signature events. Wine Spectator examines the world of wine from the vineyard to the table, exploring wine’s role in contemporary culture and delivering expert reviews of more than 15,000 wines each year. Parent company M. Shanken Communications, Inc., also publishes Cigar AficionadoWhisky Advocate, Market WatchShanken News Daily and Shanken’s Impact Newsletter.

Wine Spectator began its program to recognize the world’s best wine lists in 1981. There are three levels: the Award of Excellence, the Best of Award of Excellence and the Grand Award—with 1,782; 1,290; and 97 winners this year in each respective category.

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]
Aug. 2, 2022|

Florida SBDC Network to host inaugural Small Business Success Summit

Florida SBDC Network to host inaugural Small Business Success Summit

 

 

The Florida Small Business Development Center (SBDC) Network, the state’s principal provider of small business assistance, will host the inaugural Small Business Success Summit on June 27-28, 2022 at the Grand Hyatt Tampa Bay. The summit, themed “Contracts, Capital and Connections” will provide opportunities for small business owners from across the state to learn strategies to access capital, win contracts, and make valuable connections.

The summit will feature keynote speakers, over 12 breakout sessions, and networking opportunities that will help small businesses take their business to the next level.

“I am very excited for the Florida SBDC Network to come together to host the first Small Business Success Summit,” said Greg Britton, Florida SBDC Network State Director. “Our team of professionals, along with our partners from across the state, look forward to the event to help our state’s small businesses start, grow and thrive.

The summit will kick off with a welcome reception Monday, June 27, and conference programming will occur Tuesday, June 28. The standard registration fee is $199, with a discounted, early-bird rate of $175 available until May 29.

The Florida SBDC Network extends its gratitude to this year’s sponsors and partners: Florida Power & Light, United Midwest Savings Bank, Thryv, Intuit Quickbooks, CareerSource Florida, and the Florida Economic Development Council.

For more information about the Small Business Success Summit, and to register, please visit www.floridasbdc.org/success_summit.

 

About the Florida SBDC Network:

For more than 45 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 2020, the Florida SBDC Network delivered more than 162,500 hours of consulting to more than 24,000 small businesses, resulting in 38,797 jobs impacted, $7.4 billion in sales generated, $553.5 million in capital accessed, and $488.1 million in government contracts acquired. With over 40 offices statewide, the Florida SBDC is funded in part by the U.S. Small Business Administration, Department of Defense, 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]

May. 23, 2022|

Boys & Girls Clubs of Martin County announces Keynote for Youth of the Year Celebration 

Boys & Girls Clubs of Martin County announces Keynote for Youth of the Year Celebration 

 

Boys & Girls Clubs of Martin County announced a keynote speaker for the Youth of the Year award dinner and celebration, Caleb Wesco. The annual event will be held live on Thursday, March 10, 6-8 p.m. at St. Mary's Church, Ross Hall. 623 SE Ocean Blvd, Stuart.

Palm Beach County native and Boys & Girls Club Alumni Caleb Wesco is known for his most energetic, educational, and inspiring keynote engagements and presentations. Since becoming a dynamic motivational speaker more than ten years ago, he has traveled to 45 states and international destinations like London and Zimbabwe, sharing his motivational message with as many people, especially students, as he can. He has been featured five times in Teachers Matter Magazine and on local television as a speaker and philanthropist.

"I'm committed to inspiring people, motivating them, and helping them unlock the best version of themselves," says Wesco. "With that commitment, everything else will fall in line."

"Wesco's motto is Let's Get Motivated," says Jeronda Hill, BGCMC Area Director and Diversity, Equity, Inclusion, and Belonging Officer. "Incredibly engaging and energetic, he encourages the audience to get the MOST out of life. And we are thrilled he can come and inspire our Youth of the Year, Class of 2022, and event attendees."

The annual Youth of the Year is one of BGCMC's signature programs recognizing members who exemplify the Boys & GirlsClub's mission. A celebration of the extraordinary achievements of Club teens, those who earn the Youth of the Year title embody core club values of good character and citizenship, academic excellence, and healthy lifestyles.

 

BGCMC Class of 2022 includes: 

  • Nereida A., representing the Bill & Barbara Whitman Club, Indiantown
  • Javien E., representing the John & Marge Bolton Club, Port Salerno Club
  • Fredd G., representing the Cole-Clark Club, Hobe Sound

Nereida, a junior at Southfork High School, has served as a KeystoneClub advisor, JuniorStaff, soccer aide, and community volunteer. Nereida credits the Club for believing in her and as a result, helping her blossom into a strong young woman and emerging leader. "My Club has taught me the importance of giving back," she says. "I lead my peers in keeping our neighborhood clean, helping with the soccer program, and helping with the arts program."

Javien has served as vice president of SWAT (Students Working Against Tobacco), Torch Club member, and Honor Roll student. "The Club has helped me mature from being closed-off," he said. "It has allowed me to open up and grow as a person. I want to help younger members and my siblings because I am passionate about being involved in the Boys & Girls Club because I know it helped me grow up into the leader I am today."

Fredd is president of the Torch Club and SWAT, Team Captain, Culinary Assistant, and poet. He is an immigrant from Peru and understands the importance of perseverance while having an open mind and a kind heart. Fredd feels that great leaders influence others to be better and that his Club leaders always remind him to be a positive influence wherever he goes. "I am lucky to be a part of Boys & Girls Clubs," says Fredd. "I always look forward to coming to the Club, and they always make me feel better. The Club has given me the greatest council and support I would ever need."

Youth of the Year would not be possible without the community-minded and generous support of sponsors. 2022 sponsors includes Presenting & Blue Carpet Sponsor- The Arati Hammond Team at Keller Williams Real Estate, and our Thrive Sponsors are Cleveland Clinic Martin Health, PNC Bank, Publix Super Markets Charities, Casco Tools, and Carol Webb.

Tickets for the program are $75 per person or $125 for two tickets and are available online at www.bgcmartin.org/YOY2022. Sponsor opportunities remain and may also be found online or by emailing [email protected]

 

About BGCMC 

For more than 30 years, Boys & Girls Clubs of Martin County has provided award-winning programs designed to guide and inspire young people ages 6-18 to learn, grow and mature in route to becoming successful adults. Each of the four clubs enjoys strong partnerships with local schools and communities. Such cohesion ensures that Boys & Girls Clubs' programs complement and enrich the curriculum our members learn in class and remain attuned to the challenges and opportunities they face on a day-today basis. The clubs offer opportunities for fun, fitness, STEAM activities, and certified teachers work with club members on everything from tutoring and homework help to specialized courses that prepare them for careers in various trades.

 

 

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

 

Mar. 7, 2022|