Local father-daughter duo opens Clean Eatz in Port St. Lucie

Local father-daughter duo opens Clean Eatz in Port St. Lucie

Port St. Lucie residents have a new dining option with the opening of Clean Eatz at 10836 SW Village Parkway, Suite 10836. The award-winning health food restaurant franchise is known for its chef-inspired, nutritionist-approved menu selection, giving locals the option to order meal plans, catering packages, Grab ‘N’ Go meals, or enjoy a dine-in restaurant experience.

The franchise location will be owned and operated by Dave and Kylie Schaefers, a local father-daughter duo. Dave has been in the franchise space for over three decades, during which time he’s owned and/or operated a multitude of popular brands in various industries across the country. Kylie is a recent graduate from the University of Florida with a degree in health and wellness. This will mark the first involvement she’s had in the franchise space

“It’s been incredible to witness the growing namesake and public demand for Clean Eatz throughout Florida, and to be able to partner with incredible franchisees like Dave and Kylie to help drive our expansion in the state,” says Evonne Varady, Co-Founder of Clean Eatz.

For more information on Clean Eatz, please visit www.cleaneatz.com or call (772) 200-2268.

About Clean Eatz: 

Clean Eatz, which launched in 2011 and started franchising in 2015, was co-founded by husband-and-wife duo Don and Evonne Varady, as a means of helping individuals and families change their lives by providing them with better nutrition options, a steady dose of health and wellness education, and a diverse support community that’s committed to helping each other in becoming their best selves. By supplying such healthy alternatives, the Clean Eatz brand has continued to win over communities with their dine-in, grab-n-go, catering, marketplace, and weekly online meal plan selections.

 

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]

Jun. 8, 2023|

BofA report finds 64% of women want menopause-specific benefits

BofA report finds 64% of women want menopause-specific benefits

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Bank of America published Break Through the Stigma: Menopause in the Workplace(PDF), a new report revealing half of peri- and post-menopausal women (51%) report menopause has negatively impacted their work life, yet only 14% believe their employers recognize the need for menopause-specific benefits. The under-recognized need for menopause-specific benefits comes as 20% of the workforce is in some phase of menopause transition 1 and the number of post-menopausal women is expected to reach 1.1 billion by 2025 globally.

“Right now, there are millions of women suffering in silence – trying to simultaneously manage menopause symptoms, stigma and their careers,” said Lorna Sabbia, Head of Retirement & Personal Wealth Solutions at Bank of America. “With this report, we are addressing the issue head-on by bringing awareness to the challenges and identifying actions for employers. Our goal is to help women of all life stages comfortably and confidently bring their best selves to work.”

The report, which surveyed 2,000 female workers and 500 benefit managers on menopause and its impacts in the workplace, uncovered there is room for employers to better support women in this life stage. The report was developed in partnership with the National Menopause Foundation, a foundation committed to providing women with the information and resources they need to thrive during their journey to and through menopause.

Disconnects Between Employers and Female Employees

While 76% of HR benefit managers say they discuss menopause with their employees, only 3% of peri- and post-employees say they have talked about menopause with HR, revealing a significant disconnect between the two groups. In addition, while 71% of employers have a positive perception of their company’s culture toward menopause, only 32% of women employees share that same perspective.

The number one reason employers say they do not offer menopause-specific benefits is that employees have not asked for them. Among employers who say they offer menopause-specific benefits, top benefits include access to menopause health professionals (40%), menopause policies such as time off or flexible work arrangements (38%), and hormone replacement therapy coverage by health insurance plans (38%). However, less than 1-in-3 women are aware of available benefits and only 1-in-10 use them.

When it comes to addressing the impact of menopause on the workplace, employers see the responsibility equally split between employees (49%) and employers (51%). However, female employees see the responsibility to be more on themselves (70% vs. 30%).

Menopause-Specific Benefits Create Better Workplaces

Nearly two-thirds (64%) of women want menopause-specific benefits. In fact, when benefits are offered, 58% of women report they have had a positive impact on their work, mostly by allowing them to bring their best selves to work (40%). Female employees are also likely to feel more comfortable talking about menopause in the workplace when they have access to menopause-specific benefits.

Additional support from employers can impact female employees’ overall perception of the workplace. Employees feel more inclined to recommend their employer as a great place to work when menopause-specific benefits are available (83% vs. 69%), revealing an opportunity for employers.

“Menopause is a normal life stage in women’s lives, yet there is still a need and opportunity for workplaces to enhance their menopause policies and benefits,” said Claire Gill, founder of National Menopause Foundation. “We hope this research will inspire employers to create cultures that reduce stigma and foster better communication.”

Impact of Menopause

Top symptoms peri- and post-menopausal employees report experiencing include impacts to their sleep (45%), mental health/mood (30%), physical health (20%), relationships with family/partner (20%), ability to focus on work (17%), daily activities (15%) and even career progression (9%).

Despite millions of employees experiencing menopause each year, stigmas around the topic persist. The majority of women (60%) consider menopause to be stigmatized, with 58% of peri- and post-menopausal women reporting they don’t feel comfortable discussing their menopausal symptoms at work. Most women (80%) consider the topic to be too personal to discuss, but other concerns include:

  • 32% fear being perceived as old.
  • 28% are embarrassed to talk about their body.
  • 23% do not want peers to treat them differently.
  • 18% fear not being respected by male peers.

More findings, including actionable steps for employers, are available in the Bank of America Break Through the Stigma: Menopause in the Workplace (PDF) report.

Break Through the Stigma: Menopause in the Workplace Methodology

These are the findings of two polls conducted by Ipsos between February 21 and March 8, 2023. The first was conducted among a sample of 500 human resource benefit decision makers from companies that have at least 1,000 employees. No post-hoc weights were applied to the data and findings reflect the opinion of these respondents. The second was conducted among 2,000 women ages 40-65 that are employed full-time at a company with 1,000 or more employees and have had a menstrual cycle. Both surveys were conducted online in English in the continental U.S., Alaska, and Hawaii. Results among human resource benefit decision makers have a credibility interval of plus or minus 5.4 percentage points for all respondents. Results among employed women have a credibility interval of plus or minus 2.7 percentage points for all respondents. Survey content was developed by Ipsos in consultation with the Bank of America team. Bank of America, Merrill, their affiliates, and advisors are not affiliated with Ipsos.

National Menopause Foundation

The National Menopause Foundation (NMF) was founded in 2019 by women and for women to create an informed community where women can learn, exchange information, find support and be inspired as they approach and journey through menopause.

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 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs and award-winning digital banking with approximately 56 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 more than 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]

 

 

Jun. 1, 2023|

FCF/FFC advocates for and delivers tax relief for small business owners

FCF/FFC advocates for and delivers tax relief for small business owners

First Capital Finance/Florida First Capital (FCF/FFC) won big for small businesses in Florida during this legislative session. Working hand-in-hand with members of the Florida House of Representatives and the Senate, FCF/FFC secured passage of language addressing the double taxation of SBA 504 loans.

“This is a huge win for both small business owners and our lending partners,” said Todd Kocourek, FCF/FFC President and CEO. “By signing this bill, the state has provided flexibility in structuring loans, reduced lender risk, and removed the double taxation many small business owners incurred.”

FCF/FFC has 40 years of experience working with private-sector lenders to provide small business owners in Florida with long-term, fixed-interest below-market financing through the Small Business Administration (SBA) 504 Loan Program. These loans are used by businesses to buy or build commercial property and purchase heavy-duty machinery and equipment.

The passage of this year’s tax package eliminates the requirement for additional documentary and intangible taxes when issuing a note to transfer interim loans to an SBA loan.

The unfair language of the original statute was evident to legislators who saw no reason to impose additional taxation on 504 loans to small business owners simply because the named lender on the interim loan was different than the one on the first mortgage. Governor DeSantis signed the legislation into law on May 25, 2023, and it goes into effect July 1, 2023.

FCF/FFC thanks the legislature and the Governor for passing such an important piece of tax relief for small business owners and borrowers.

About First Capital Finance/Florida First Capital 

With 40 years of experience, FCF/FFC is one of the nation’s top-ranked CDCs promoting economic development and job creation in Alabama, Florida, and Georgia. FCF/FFC is a non-profit-certified development company promoting economic development and job creation.

Under the SBA 504 Loan Program, FCF/FFC works with private-sector lenders to provide eligible small business owners in Alabama, Florida, and Georgia with below-market, fixed-interest rate long-term financing to buy or build commercial property and/or purchase fixed heavy-duty machinery and equipment. Florida First Capital also lends under the Rebuild Florida Business Loan Fund as well as the Florida Recycling Loan Program and other small business assistance programs.

 

Get in Touch: Email us at [email protected] or call us toll-free at 800.504.LOAN.

 

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]

Jun. 1, 2023|

A-1 Global Holdings announces the appointment of Robert Jardim to vice president of finance

A-1 Global Holdings announces the appointment of Robert Jardim to vice president of finance

A-1 Global Holdings, Inc., a leading manufacturer of pre–engineered building components, is delighted to announce that Robert Jardim has joined the leadership team as Vice President of Finance. He will lead A-1's Accounting Department, including financial planning, analysis and reporting, tax and treasury. His hire compliments current and ongoing growth in A-1’s Accounting Department.

"Rob's extensive experience in both large and small manufacturing firms makes him an ideal fit for this period of rapid growth at A-1," said Jan Beck, A-1’s President. "We are extremely happy to welcome him to the team and look forward to his contributions to financial leadership and management during this very exciting time as we continue to scale our operations to meet the high order demands from our customers.

Rob graduated from Bentley University with a Bachelor's degree in Accounting and a minor in Systems Implementation and Design. He obtained his CPA license in Massachusetts. His career started in the public accounting sector, including Price Waterhouse. Rob spent the past 12 years for COMET, a publicly traded Swiss Technology company, in increasing roles from Vice President of Finance to Country General Manager for the North American Region

"I've admired A-1's team and technology, and I'm excited to join a Company that has not only been successful but also has the potential for considerable growth in the near future," said Rob. "I look forward to working with A-1’s talented team to continue to build on the great success A-1 has seen in recent years."

About A-1 Global Holdings

Founded in 1977, A–1 has over 370 employees and is a leading manufacturer of pre–engineered wood trusses and EZWALL® framing solutions. The Company recently reorganized as A-1 Global Holdings, Inc., the new parent company for A-1 Industries of Florida, Inc., and A-1 Industries of Georgia, LLC. A-1 currently has manufacturing facilities in Fort Pierce, Fla., and Bainbridge, Ga., and multiple employment opportunities in both locations for candidates who share the Company’s Core Values – Own it, Passionate, Honesty, and Respect. A-1’s employees are eligible to participate in the Company’s Employee Stock Ownership Plan.

 

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. 25, 2023|

Bank of America Breakthrough Lab™ seeks founders of early-stage startups

Bank of America Breakthrough Lab™ seeks founders of early-stage startups

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Bank of America is pleased to officially launch its impact accelerator program named Bank of America Breakthrough Lab with the call for applications for the September 2023 cohort. The six-month program provides tailored mentorship, digital expertise, networking with industry experts and access to potential investors to Black, Hispanic-Latino, Native American and other entrepreneurs from underrepresented communities so that they can scale-up their technology-related businesses.

Founders of early-stage startups from underrepresented communities are encouraged to apply to the program that promotes financial inclusion and financial technology development with the goal of increasing the number and growth of small businesses. The deadline for applications is June 8, 2023 for a September 2023 start date.

“The bank’s long-standing commitment to supporting economic opportunity for people and communities we serve is at the core of Bank of America Breakthrough Lab,” said Rina Arline, Breakthrough Lab Program Director in Global Transaction Services at Bank of America. “We’re excited to play a role in giving emerging entrepreneurs from a range of backgrounds access to the bank’s vast resources and industry networks.”

Bank of America plans to host a new cohort each year. Program details and instructions for how to apply appear below.

Breakthrough Lab Success

In 2021, the bank launched a pilot program with five startups from the New York area. Following the initial success, in 2022 the bank expanded the pilot with 17 companies from the U.S., Mexico, United Kingdom and France.

Bank of America’s Efforts to Advance Economic Opportunity

Bank of America remains committed to supporting business owners and entrepreneurs from underrepresented communities grow their businesses, which generates economic opportunities that helps create jobs and build wealth. Bank of America also works with an established network of community partners that provides capital or serves as depository institutions, and offers businesses with access to other funds, investors and vendors by creating connectivity within the venture capital sphere. In 2021, the bank launched the Access to Capital Directory for Entrepreneurs - Access to Capital Directory to help connect women-owned businesses to resources on navigating the capital landscape and identifying potential sources of funding. This directory has now expanded to encompass Black and Hispanic Latino entrepreneurs.

To date, Bank of America has committed $421 million to more than 130 minority and women-led funds.  Those funds will in turn invest in an estimated 2,000-plus minority- and women-led companies over five years.

“Our investment in minority and women-led funds has a catalytic effect in supporting diverse communities,” said Tram Nguyen, Global Head of Strategic & Sustainable Investments at Bank of America. “Each time we support a minority-led fund, they in turn support diverse entrepreneurs, which ultimately helps us to achieve our goal of advancing economic opportunity.  Each cohort of Breakthrough Lab founders plays a critical role in helping us to drive progress.”

Program Application Details

  • Timeline: The six-month part-time program runs September 2023 to March 2024.
  • Who can apply: Pre-seed stage companies with ideas related to FinTech or tech-enabled ideas promoting inclusion such as HealthTech, WealthTech, EdTech, and housing. While the aspirational goal of the program is to increase access for underrepresented groups, all eligible entrepreneurs regardless of background are encouraged to apply.
  • Online application

Highlights:

  • The program is offered at no cost1to the BTL participants and there is no expectation or requirement to exchange equity with the bank.
  • Each cohort is assigned mentors at the managing director or executive level from Bank of America.
  • 94 hours of live instruction spanning a diverse range of business management topics.
  • Technology support.
  • A branding package covering website and logo design.
  • Guidance on how to partner or sell to large enterprises.
  • Exposure to investors and providers of capital, including a pitch day at the end of the program where each cohort will present their business case.

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 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs and award-winning digital banking with approximately 56 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 more than 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]

May. 18, 2023|

Niki Norton elected 2023 president of Treasure Coast Builders Association

Niki Norton elected 2023 president of Treasure Coast Builders Association

Maggie Ovedorf, at left, Niki Norton, and Florida State Representative Toby Overdorf.

Niki Norton, President and Owner of n2 architecture + design, has been elected President of the Treasure Coast Builders Association (TCBA) for 2023.

Her presidency in what has traditionally been a male-dominated field comes as the TCBA is celebrating its fiftieth anniversary. Norton is the first woman to hold this position on the Treasure Coast, taking the leadership position.  She has been active locally in green and sustainable design for commercial and residential developments for more than twenty years and has earned a reputation for professionalism, teamwork, attention to detail, and a finished product that exceeds her clients’ expectations.

Norton is an accredited professional in LEED (Leadership in Energy and Environmental Design) and a Licensed General Contractor, with a degree in architecture from the University of Tennessee. Recently appointed to Martin County’s Local Planning Agency, Norton has been active in the Treasure Coast community, serving as President of the Palm City Chamber of Commerce, Chair of the Lyric Legacy Society, Chair of the Martin County Historic Preservation Board, and a member of the United States Green Building Council and the Florida Green Building Coalition. She is currently serving her second term as President of CREW Palm Beach/Treasure Coast, part of a national organization devoted to the promotion and success of women in commercial real estate.

“As a mom, small business owner, leader in local organizations, and a champion of sustainable development, I’m proud and excited for what the TCBA can contribute to our community’s quality of life during my tenure and far into the future,” Norton said.

About n2 architecture + design

n2 architecture + design is a full-service firm that focuses on green design and innovative approaches to solving architectural challenges. Led by Niki L. Norton, R.A., LEED, as principal architect, the team has more than twenty years of success on the Treasure Coast with a wide range of projects ranging from residential to commercial, from single family homes to large commercial buildouts, and special projects like country clubs and historic buildings. n2 has won numerous awards, including Most Outstanding Green Interior Design-Small by the United States Green Building Council, and prides itself on bringing inspiration, creativity, sustainability, and personalized service through the highest quality of architectural services. n2 offices are located at 2081 SE Ocean Boulevard, Suite 1A, Stuart, FL 34996. Phone 772-220-4411, contact n2 at [email protected], or visit the website http://www.n2archdesign.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]

May. 18, 2023|

SBA hurricane relief deadline draws near

SBA hurricane relief deadline draws near

The U.S. Small Business Administration (SBA) encourages small businesses in Florida with economic losses due to Hurricane Ian that occurred from Sept. 23 through Nov. 4, 2022, to apply for working capital disaster loans before the June 29 deadline.

Small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations in the following counties are eligible to apply: Alachua, Bradford, Brevard, Broward, Charlotte, Clay, Collier, DeSoto, Duval, Flagler, Glades, Hardee, Hendry, Hernando , Highlands, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Miami-Dade, Monroe, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Saint Johns, Saint Lucie, Sarasota, Seminole, Sumter and Volusia

“To serve the economic interest of the community, we have an extended application timeframe of nine months which enables businesses to assess the effects of the disaster before applying for working capital loans. As the June 29 deadline is approaching, we urge potential applicants to take action right away,” said Kem Fleming, director of SBA Field Operations Center East in Atlanta. 

The SBA Business Recovery Center is operating as indicated below until further notice:

SBA Business Recovery Center
Hillsborough County

Chloe Coney Urban Enterprise Center
1907 E. Hillsborough Ave.
Tampa, FL 33610

Hours: Monday – Saturday, 9 a.m. to 5 p.m.

Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the DLOC are encouraged to wear a face mask.

These federal Economic Injury Disaster Loans (EIDLs) are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage.

The loan amount can be up to $2 million with interest rates of 3.04 percent for small businesses and 1.875 percent for private nonprofit organizations, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s/ and should apply under SBA declaration #17645.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services), or by sending an email to [email protected]. Loan applications can be downloaded from the SBA’s website at sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to return economic injury applications is June 29, 2023.


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. 11, 2023|

Fort Pierce Rotary honors business leaders

Fort Pierce Rotary honors business leaders

The Fort Pierce Rotary Club recently organized a Business Leaders Luncheon at the Pelican Yacht Club on Seaway Drive. The event was attended by 85 local business leaders and 40 Rotarians. The event's purpose was to recognize the contributions of the business leaders in making Fort Pierce/St. Lucie County what it is today and to encourage them to continue giving back to the community.

The guests at the event included a diverse range of professionals such as entrepreneurs, retirees, government officials, law enforcement officers, attorneys, real estate agents, ranchers, mortgage brokers, education professionals, the Fort Pierce Mayor and more. The gathering provided an excellent opportunity for networking and exchanging ideas with like-minded individuals from various sectors of the community.

The event was organized by a team of seven led by the Past President of the club, Rick Haisley. The team worked hard to ensure that the event was a success, and it was well received by all attendees.

The luncheon provided a platform for business leaders to come together, share their experiences, and inspire one another to give back to the community.

During the meeting, President Ryan Abernethy presented Fort Pierce Chief of Police Diane Hobley Burney with a check for $3,000 for their new program called “Have a Heart”. For years, local Police officers have contributed daily to the growing financial concerns of local citizens, and Have a Heart will provide the officers with much needed gift cards that can be provided to those in our community in need of just a little something to get them by. This was an example of Rotary in Action, as the club donated half the funds while 5 generous members contributed the remaining half.

Overall, the Business Leaders Luncheon organized by the Fort Pierce Rotary Club was a great success. It highlighted the importance of collaboration and networking among business leaders in the community. It was an excellent opportunity for business leaders to connect with other like-minded individuals and gain insights into how they can continue to make a positive impact in their community.

 

 

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. 11, 2023|

Survey says 76% of small businesses feel well-equipped to survive a recession

Survey says 76% of small businesses feel well-equipped to survive a recession

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The majority of U.S. small business owners (72 percent) are concerned about the impact of a potential recession; however, 76 percent are confident their business could withstand the downturn, according to the Bank of America 2023 Small Business Owner Report (PDF). The survey of more than 1,000 business owners across the country found that, despite the continued impact of inflation and supply chain issues, 65 percent of business owners anticipate revenue growth in the next 12 months.

Small business owners were also asked about topics including future plans, sustainability, employee retention and labor. Conducted in March and April, other findings include:

  • 79% of business owners raised prices over the last 12 months.
  • 53% added benefits and perks to retain talent.
  • 49% plan to use automation and artificial intelligence (AI) tools for their business in 2023.
  • 34% believe the national economy will improve in the next 12 months.

“While the dual pressures of inflation and supply chain disruptions continue to incumber operations, small business owners remain bullish about their prospects for the year ahead,” said Sharon Miller, President of Small Business and Head of Specialty Banking and Lending at Bank of America. “Small businesses are poised for growth, implementing strategies to retain and attract talent and exploring new tools including artificial intelligence to gain an edge in a highly competitive market.”

Economic Concerns and Business Outlook

Inflation (79%) and a potential recession (72%) top business owners’ concerns over the next 12 months. These entrepreneurs also expressed anxiety around commodities prices (68%), the U.S. political environment (68%), rising interest rates (67%) and supply chain (57%).

Despite these concerns, the bottom line remains strong for many entrepreneurs. Fifty-six percent of business owners reported increased revenue in 2022 compared to 2021, and looking ahead at the next 12 months, 48% plan to expand their business (vs. 37% last spring). Additionally, 82% intend to obtain financing in the year ahead (vs. 70% last spring).

Retention Efforts and Hiring Plans

Struggling with labor shortages and a competitive job market, business owners are increasingly focused on employee retention. Over the past 12 months, 53% have added additional benefits and perks to existing compensation packages, including remote/hybrid work (34%), cost-of-living bonuses (34%) and more vacation time (33%). And 75% of these business owners said their efforts meaningfully impacted employee morale and retention.

Additionally, 34% of business owners plan to hire in 2023, up from 26% last spring. Over the past 12 months, 51% implemented additional perks and benefits to attract new talent, such as increased base pay for new employees (54%), remote/hybrid work (30%), new employee training or resource groups (27%) and additional healthcare benefits (27%).

Entrepreneurs Embrace Sustainability Despite Obstacles

Three-in-four SBOs have already implemented sustainable business practices, such as reducing paper usage, establishing environmentally friendly habits in their work environment and working with sustainable vendors. While implementation challenges exist—82% of entrepreneurs cited challenges such as increased costs (49%), limited supplier options (29%) and variable quality of sustainable products/services (26%) as primary obstacles—78% of business owners plan to implement sustainable practices over the next 12 months.

Continued Digitization of Business Operations

In the past year, 80% of small business owners adopted digital tools for their business, leveraging digital banking to manage their finances and social media to reach their customers. Business owners are also embracing AI and automation, with 49% planning to use AI tools to enhance their business in 2023.

Looking ahead, 55% of entrepreneurs anticipate accepting exclusively digital payments at some point in the future, and 90% say digital tools help make their operations more efficient, helping them save time and stay organized.

For an in-depth look at the insights of the nation’s small business owners, please read the full Bank of America 2023 Small Business Owner Report (PDF).

Providing a Business Advantage to Small Business Owners

Bank of America provides advice, solutions, access to capital and dedicated support to meet the unique needs of our 11 million business owner clients. According to the FDIC, Bank of America maintained its position as the nation’s top small business lender at the end of 2022, with $36.2 billion in total outstanding small business loans (defined as business loans in original amounts of $1 million and under).

Bank of America 2023 Small Business Owner Report Methodology

Ipsos Public Affairs conducted the Bank of America 2023 Small Business Owner Report survey online between March 16 and April 10, 2023, using a pre-recruited online sample of small business owners. Ipsos contacted a national sample of 1,145 small business owners in the United States with annual revenue between $100,000 and $4,999,999 and employing between two and 99 employees. In addition, approximately 250 small business owners were surveyed in each of ten target markets: Atlanta, Boston, Chicago, Dallas, Houston, Los Angeles, Miami, New York, San Francisco and Washington, D.C. The final results for the national and designated market area segments were weighted to national benchmark standards for size, revenue and region.

Prior to 2016, previous waves of the Small Business Owner Report survey were conducted by telephone and while best efforts were made to replicate processes, differences in sample, weighting and method suggests caution when making direct statistical comparisons of the results from pre-2016 and post-2016.

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 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs and award-winning digital banking with approximately 56 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 more than 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]

May. 4, 2023|

Hog Technologies announces former VP of Sales to return as President of the company

Hog Technologies announces former VP of Sales to return as President of the company

James P. Crocker, Founder and CEO of HOG Technologies, the leading pavement maintenance and marking removal solution, recently announced the return of Vince Giordano as President of the company:

“I would like to take this opportunity to say how thrilled we are at HOG to have Vince. Vince Giordano recently served as our Vice President of Sales at HOG for four years and made fantastic connections and forward progress both within and outside of the organization. Although he’s been gone for a year now, I feel like he never fully left. As we began to explore the possibility of his return, I felt that the organization would benefit greatly from his leadership at a higher level.

“Vince has a solid grasp on many aspects of HOG, and I know that he will leverage his knowledge and his relationships to effect tremendous results as our President. I will resign as President as of Monday, April 10, 2023, and Vince Giordano will take the reins of leadership.

“As President, Vince will have direct oversight of sales, marketing, operations, customer service, and finance. I will continue in my role as CEO and will also continue my role in leading product development and the field services we offer.

“Vince is a talented communicator, a good organizer, an effective recruiter, a visionary, and a man of action. He motivates others through his own example and his passion for our products and customers. I am confident that everyone will benefit from his capable leadership, whether you are a member of the HOG team or one of our valued customers or vendors.”

About Vince Giordano

Vince Giordano has spent the last twenty-five years as a successful sales leader closing complex sales for large institutions, including Stanford University, Disney, Ochsner Hospital Systems, and large governmental agencies. Most recently, Vince served as Vice President of Business Development for Notes Live. Prior to that, Vince served as Vice President of Global Sales for HOG Technologies. Vince also served as Vice President of Field Sales at NuCO2, where he was recognized with numerous awards, including five straight President Club awards.

Vince earned his Master’s of Business Administration from Quantic School of Business and Technology. He holds many honorable professional certifications, including post-crisis leadership and diversity, equity, & inclusion from the University of South Florida.

Vince is a father of three and holds a black belt in kung fu and a brown belt in jiu-jitsu. He loves God and has a voracious appetite to serve those he works with and for.

Hog Technologies (formerly branded as Waterblasting Technologies) is the leading pavement maintenance and marking removal solution around the world. Hog Technologies is known for the award-winning Stripe Hog Water blasting System along with many other innovations such as the Thermo Hog, Rumble Hog, Epoxy Hog, Grinder Hog, and more. Hog Technologies has vehicles owned in over 57 countries around the world with vehicles operating in over 90 countries.To learn more, visit https://thehog.com/.

 

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Apr. 20, 2023|