2015 Salute to Small Business Special Edition

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from the founder You’re Hired!

These two, simple words create excitement and opportunity for just about anyone looking for a job. But for those of us doing the actual hiring, they can be as scary as wondering if your girlfriend or boyfriend really is “the one.” Whether we are hiring due to company growth, or because we’re replacing a departed employee, the hiring process can be tedious, time consuming, stressful and ultimately costly. As much as a good hire will help us grow our company, a bad hire can hold us back. So how do we keep a new employee from becoming more of an expense than an asset? There is no way to know for sure that we’re getting it right, but there are steps we can take that will make the process easier and produce a higher likelihood of making the right hiring decision.

RECRUITING Years ago, I relied on Craigslist for most of my staff recruiting.

Now, it simply doesn’t produce enough good candidates to make a proper hire. We recently posted a job to Indeed. com as well as a few college job boards and Craigslist. The result was over 160 applications in just over a week. We had a fantastic amount of candidates, but the next challenge was separating the quality from the quantity.

THE APPLICATION I’m a sucker for a good cover letter. And why not? Someone writing a few paragraphs about how an opening at our company is something they are excited about and why they are a perfect fit makes me want to read their resume. It also sets my mood for when I read it. Rather than “Oh no, not another resume” I tend to think, “I can’t wait to see what experience this candidate has to make them such a great fit.”

After recently getting so overwhelmed with resumes, I barely gave a second look to any application without a cover letter.

That definitely helped speed up the review process.

THE EXPERIENCE It’s surprising to find so many resumes sent in for jobs that the applicant has no relevant experience or education for. This definitely helps in deciding who to setup an interview with, however what about people with some of the required skills, but not all? It all comes down to what skills can be learned on the job, and which ones are required. It’s also important to find someone who is a good cultural fit for your team. Finding someone with the right skills, who works well within your organization should ultimately produce the best results.

THE INTERVIEW PROCESS For years I would spend half an interview talking all about how great I thought our company was and how cool it would

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be to work for us. Looking back, it was almost as if I was the one being interviewed. Recently, we changed our process to simply identify the position we were looking to fill, what skills were required and how that position fits into our company. I allowed each person we interviewed to share how they fit each of the skills the position required and rate their comfort and experience for each. We also had a set list of questions to better understand how someone would fit the role, both from a personal and professional standpoint. By having a set structure to the interview process, I’ve been able to keep most first interviews to under 30 minutes. This allows me to meet with more potential candidates, making sure not to overlook anyone with strong potential.

FOLLOWUP Personally, I feel like a candidate who doesn’t follow-up within 48 hours of an interview isn’t committed enough to the job hiring process or isn’t serious about becoming part of our team. A simple email is sufficient, however the occasional hand written note is also a great touch. I often say no follow-up = no job and I really try to stay true to that regardless of how qualified a candidate might seem. The courtship process is an important one, and I feel it really shows how serious a potential candidate is about the job.

THE FINAL DECISION Before I make my final decision and make an offer, I like to bring back the top 3-5 candidates for a second interview.

Prior to that interview, I recap the position, give them a sense of the hours and pay (hourly or salary range) and give an assignment that pertains to the skills required for the job. I typically find that 3 out of 5 people will follow through with the assignment and accept a second opportunity to discuss the job opportunity. At the second interview, I ask candidates to describe how they went about completing their assignment, why they came up with the solutions they did and then let the interview take on the form of a discussion around that assignment. This helps to find out how the candidate will make decisions on the job, how they defend their decisions and how they will accept feedback.

By going through this lengthy, but important process, I feel that the final hiring decision is much more educated and accurate, ultimately leading to the right hire and continued company growth.

Gil Lantini Founder Ralph Coppolino Co-Founder John Resnick Marketing Coordinator Mike Casale Senior Designer Pam Walsh Managing Editor Interns Mike Giannamore Brittany Medeiros Deep Patel Jiayi Li Contributing Writers Derek Amey John V. Carvalho III Seth A. Goodall Nellie M. Gorbea Mark S. Hayward William F. Miller Special Thank You RISBJ would like to thank the SBA and Bryant University for their contributions to this issue

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Upcoming Events

South Kinstown Elks Lodge Spring Craft Show 10:00am-4:00pm 60 Belmont Ave. Wakefield

Meritage Restaurant Bottomless Sangria & All You Can Eat Tapas to Benefit Amenity Aid 6:00-9:00pm 5454 Post Rd. East Greenwich NK Chamber of Commerce Business Consulting: Fridays at the NK Chamber 10:00am-12:00pm 8045 Post Rd. North Kingstown

Hyannis Center Small Business Basics: Understanding Cash Flow 11:30am-1:00pm 540 Main St. Hyannis Corner Bakery Cafe Capital City Connection Networking 8:00-9:00am 160 Hillside Dr. Garden City Center, Cranston

Doherty’s Ale House Forum: Your Website Through a Hacker’s Eyes 5:30-7:30am 30 Jefferson Blvd. Warwick

Ten Post Office Square AOEC Boston Presents: What Makes Up a High Performing Team?

8:30-10:30am 8th Floor South, Boston

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Exeter Country Club Fr. John V. Doyle School1st Annual Golf Tournament 8:15am 3020 Ten Rod Rd. Exeter Prescott Farm Stone Wall Workshop 9:30am-12:30pm 2009 W. Main Rd. Middletown

MAY 31

MAY 20

Corner Bakery Cafe Capital City Connection Network 8:00-9:00am 160 Hillside Dr. Garden City Center, Cranston

MAY 30

North Kingstown Chamber Business Consulting: Tuesdays at the NK Chamber 10:00am-12:00pm 8045 Post Rd., North Kingstown

Mesa Cafe SBR Cranston Rainmakers 11:45am-1:15pm Rolfe St. Cranston

Crowne Plaza Hotel How the WAVE Can Help Small Business in Rhode Island 7:30-9:30am 801 Greenwich Ave. Warwick

MAY 15

Portsmouth Free Public Library “Stories in Stones” Documentary Screening 6:30-9:00pm 2658 East Main Rd. Portsmouth

Chelo’s Restaurant Business Networking – Referral Pros 12:00pm-1:30pm 1275 Reservoir Ave., Cranston

AmWins Networking @ Noon at AmWINS, Quonset Business Park 12:00-1:30pm 50 Whitecap Dr. North Kingstown

Center for Women and Enterprise Marketing Intensive Course 6:00-8:00pm 132 George M Cohan Blvd Providence

North Kingstown Chamber Tune Up Your Quickbook Skills 8:30-10:30am 8045 Post Rd., North Kingstown

Corner Bakery Cafe Capital City Connection Networking 8:00am-9:00am 160 Hillside Dr. Garden City Center, Cranston

MAY 27

MAY 14

MAY 13

Twin River Event Center RIMA | MakeRI Anuual Meeting 7:30am-10:00am 100 Twin River Road, Lincoln

MAY 19

Rough Point Sip & Sculpt: Liz Holstein 5:00pm-8:00pm 680 Bellevue Avenue., Newport

MAY 27

Chelo’s Restaurant Business Networking – Referral Pros 12:00pm-1:30pm 1275 Reservoir Ave., Cranston

Kings Crossing Golf Club Business After Hours at Kings Crossing Golf Club 5:30-7:30pm 655 Old Baptist Rd. North Kingstown

MAY 28

NK Chamber of Commerce Business Consulting: Fridays at the NK Chamber 10:00am-12:00pm 8045 Post Rd. North Kingstown

MAY 29

North Kingstown Chamber Business Consulting: Tuesdays at the NK Chamber 10:00am-12:00pm 8045 Post Rd., North Kingstown MAY 16

MAY 12

Networking & Workshops

Round Table Radio Real Estate Simplified 10:00-11:00am

NK Chamber of Commerce Get Noticed! Optimize Your Website through SEO 8:30-10:30am 8045 Post Rd., North Kingstown CommerceRI Basic Entrepreneurial Workshops 8:30am-4:00pm 315 Iron Horse Way Providence Mesa Cafe SBR Cranston Rainmakers 11:45am-1:15pm Rolfe St. Cranston

For More Events and Information Visit:

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contents

volume four issue five

INSIDE THIS ISSUE

6 Events 8 Small Business News

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13 2015 SBA Award Winners 14 Message from Mark S. Hayward 15 Message from Dennis Callanan and Babak Taleghani 16 SBA Small Business Person of the Year 17 SBA Young Entrepreneur of the Year 20 SBA Joseph G.E. Knight Award for Entrepreneurial Excellence 21 SBA RI and New England Minority – Owned Business of the Year 22 SBA Rhode Island Women – Owned Small Business of the Year 24 SBA Rhode Island Home Based Business Champion 25 SBA Rhode Island Financial Services Champion of the Year 26 SBA Rhode Island Entrepreneurial Success Award 28 SBA Rhode Island District Director Award 29 Small Business Success Story 32 SBA Rhode Island Participating Lenders 36 30th Annual World Trade Day – Agenda 41 Why is Exporting Important?

42 International Trade Has Deep Roots in Rhode Island 49 Prevent Pain with Good Office Ergonomics 50 Trends in Gas Detection Equipment

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53 Cash Flow Tips for Small Business Owners 54 Growth at Quonset 56 Crowd Funding 101 59 Integlia & Company 60 Local Small Business Directory

ESS USIN ALL B M S O TE T SALU 2015

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Featured 2015 Salute To Small Business 30th Annual World Trade Day

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SMALL BUSINESS

NEWS

SharkFest Winners Announced

F o r J o h n s o n & Wa l e s U n i v e r s i t y ’s 4 t h A n n u a l C o m p e t i t i o n

PROVIDENCE, RI - Johnson & Wales University’s (JWU) 4th Annual “SharkFest” student entrepreneurship competition was held Thursday, April 2 at Schneider Auditorium. The winners and their products are as follows: First place: Blake Mitkoff, a culinary arts and food service management major from the Charlotte Campus. His winning idea is “ChefBook,” an online service for clients and homeowners who need chefs for private or temporary on-site work.

Second place: Matt Tortora, a food service and entrepreneurship major from the Providence Campus who created “WhatsGood,” an online service and virtual marketplace to tie in purveyors’ needs to one customized network.

Third place: Abdiel Elou and Colby Fraser, engineering majors from the Providence Campus. They created “The Buddy System,” a customized bracelet that syncs to a smartphone to contact friends, family members or authorities in times of distress.

The People’s Choice Award (voted on by audience members): Luis Rivera and Becky Giambarresi, culinary nutrition majors from the Providence Campus for “The Hippothecary Food Pharmacy.” It is a fully functional pharmacy that designs research-based food products for people with certain ailments or conditions.

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Twelve finalists were chosen for the competition, which included one from each of the other JWU campuses (Charlotte, N. Miami and Denver), as well as alumni. The three highest ranking finalists receive, in order, a stipend for $2500; $1500; and $1000. They are also given office space in the Entrepreneurship Center, mentoring by an industry professional, and assistance from the staff at the Larry Friedman International Center for Entrepreneurship. The “People’s Choice” winner receives a stipend of $500 along with mentoring by an industry professional and assistance from the Center.

Founded in 1914, Johnson & Wales University is a private, nonprofit, accredited institution with more than 16,000 graduate, undergraduate and online students at its four campuses in Providence, R.I.; North Miami, Fla.; Denver, Colo.; and Charlotte, N.C. An innovative educational leader, the university offers degree programs in arts and sciences, business, culinary arts, education, nutrition, hospitality, physician assistant studies, engineering and design. Its unique model integrates arts and sciences and industry-focused education with work experience and leadership opportunities, inspiring students to achieve professional success and lifelong personal growth. The university’s impact is global, with alumni from 119 countries pursuing careers worldwide. For more information, visit www.jwu.edu.

SMALL BUSINESS

NEWS

Ocean State Job Lot Makes R e c o r d

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NORTH KINGSTOWN, RI - Ocean State Job Lot, a 116-store discount retail chain headquartered in North Kingstown, R.I., announces its 2015 “Three Square Meals” hunger relief program to alleviate the problem of food insecurity throughout the Northeast.

The program will distribute 109 tractor trailer loads of food throughout the year to 15 food banks, which in turn distribute to thousands of pantries, kitchens, and meal insecurity sites across six New England states, New York, and New Jersey, including: Rhode Island Community Food Bank (Providence, RI), Connecticut Food Bank (East Haven, CT), Foodshare (Bloomfield, CT), New Hampshire Food Bank (Manchester, NH), Food Bank of the Hudson Valley (Cornwall-on-Hudson, NY), Worcester County Food Bank (Shrewsbury, MA), Food Bank of Western Massachusetts (Hatfield, MA), Good Shepherd Food Bank (Auburn, ME), Vermont Foodbank (Barre, VT), Boston Medical Center Food Pantry (Boston, MA), Greater Boston Food Bank, Long Island Cares (Hauppauge, NY), NORWESCAP (Phillipsburg, NJ), Food Bank of Monmouth and Ocean Counties (Neptune City, NJ), and the Regional Food Bank of Northeastern New York (Latham, NY). This marks the single largest food assistance program of its kind in the Northeast.

On Thursday, April 9, 2015 at 9:15 a.m., the first delivery of food will be kicked off with a convoy of 18 tractor trailer trucks loaded with approximately 630,000 lbs of nutritious, shelf-stable food, the first installment of nearly 3,270,000 pounds delivered throughout the year. The public is invited to cheer on the convoy departing from Job Lot’s warehouse in North Kingstown led by a special escort of Rhode Island State Police, Seekonk Speedway racecars, and vehicles from the Combat Veterans Motorcycle Association of Rhode Island Chapter en route to the select Food Banks.

For the second time in the 12-year history of the Three Square Meals program, private businesses are sponsoring a truckload of food including Kellogg’s, Bank of America, Bob’s Red Mill, Polar Beverages, Arbella Insurance, and the Narragansett Lions Club. Shipping pallets for the deliveries were donated by Atlas Pallet. Job Lot’s Charitable Foundation is also teaming up with the New England Patriots Alumni Club led by former 12year Patriots offensive player Pete Brock and 15-year quarterback Steve Grogan to “tackle hunger.” They, as well as fellow Patriots alum Patrick Pass, will be onhand for the April 9th morning event, along with current Patriots cheerleaders and the “Pat Patriot” mascot.

Funds for Three Square Meals are raised annually between November and December through a combination

of in-store customer donations at the register, contributions from the business community, and matching funds from the Job Lot Charitable Foundation. Job Lot then leverages its wholesale buying power and retailing expertise to purchase food at significant value. It also donates the operational support, delivery and other expenses to ensure that 100% of every dollar raised goes to the plate to help families and individuals in need.

Items to be distributed include shelfstable food such as pasta, cereal, canned vegetables and fruit, soup, canned tuna, dried beans, rice, and more.

Rhode Island Governor Gina Raimondo and First Gentleman Andy Moffit will attend along with other VIPs, food bank executives and staff from across the region.

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SMALL BUSINESS

NEWS

RI Busin N a m e s

PROVIDENCE, RI - The Rhode Island Business Plan Competition today announced that it has named 13 semifinalists in the 2015 competition from among 82 emerging and would-be entrepreneurs.

The competition will name winners and award prizes valued at $200,000 to all finalists and winners on May 12 at The Garage, a half-day business development conference hosted at the Rhode Island Convention Center by the Greater Providence Chamber of Commerce.

The semi-finalists have proposed businesses that address problems in the biotech, consumer, environmental, health care, information technology, retail, and software industries.

Competition Co-chair Anthony Mangiarelli, partner with the KLR accounting firm in Providence, said, “We appreciate the strong effort made by everyone who applied to this year’s Competition, and we strongly encourage those were not chosen as semi-finalists to continue, because success is often a matter of persevering.”

Entrepreneur Track Semi-finalists

Semi-finalists in the entrepreneur track include the following: CloudContacts is developing a webbased address book that self-updates as friends, family, and colleagues change contact information. Principal applicant: Michel Mullen, Providence.

FetchPark is building a transponder and companion app to help drives find and autopay for parking in urban areas without looking for coins, touch a screen, or swipe a credit card. Principal applicant: Tom Olson, Providence.

HMSolution provides pre-packaged water treatment equipment to remove arsenic and 15 other toxic chemicals at

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SMALL BUSINESS

NEWS

ness Plan Competition 1 3

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one-fifth the operating cost of competing solutions. Principal applicant: Margaret Lengerich, Providence.

Kippkitts has developed a novel compact and portable system for providing therapeutic cooling that can be used in ambulances. Principal applicant: Kipp Bradford, Pawtucket Solution Nexus has developed an automated approach to proton radiotherapy for cancer treatment that designs and fabricates custom beam masking hardware faster and at lower cost relative to legacy systems. Principal applicant: Alan Schinazi, Pawtucket.

The Compost Plant is creating a commercial compost system that diverts organic material from landfills, producing high-quality compost while providing customized organics collection. Principal applicant: Leo Pollock, Providence.

XactSense is building a handheld, scanning device to create highly accurate 3-D maps of the built environment, which can replace traditional survey equipment.

Principal applicant: Andy Trench, Warwick.

Student Track Semi-finalists

Semi-finalists in the student track include the following: Bounty is creating automated visual content-recognition software that links to an online advertising marketplace, connecting brands with visual content creators. Principal applicant: Noah Fradin, Brown University.

EquiTrue is an advanced stability assessment system that can detect and quantify specific balance and proprioceptive impairment caused by concussions. Principal applicant: Dan Giovacchini, Brown University.

NGS Imaging is developing a scintillator that will increase image resolution

and overall detector efficiency of X-ray equipment used to diagnosis and screen for disease indicators. Principal applicant: Linghan Xing, Brown University.

PICCPerfect is developing an improved design of peripherally inserted central catheter line covers. Principal applicant: Emily Levy, Babson College.

T3 Technologies has developed a GPS-powered device that will enable auto dealers to quickly find vehicles on their parking lots. Principal applicant: Alter Jackson, Brown University.

UnSync is using unsynchronized structured lighting and multi-frequency phase shifting techniques to power 3-D scanners at significantly lower cost than is currently available. Principal applicant: Leo Liu, Brown University.

Finalists will be selected later this month.

To win prizes, applicants agreed to establish or continue business operations in Rhode Island.

Sponsors of the 2015 Competition

Supporting this year’s competition are 56 sponsors, including banks and investors; colleges and universities; foundations; construction, insurance, health-related, software, and other businesses; professional firms; services organizations; and a former participant.

Lead sponsors of the 2015 Competition are Cumulus Media-Providence, Embolden, Focus Vision Media, Hinckley Allen, KLR, Locke Lord, and the Providence Journal Charitable Legacy Fund.

Also supporting the Competition are Ava Anderson Non Toxic, Bank of America, Brown University, Bryant University, Center for Women and Enterprise, Envision Technology Advisors, FM Global, Greater Providence Chamber of Commerce, Hatch Entrepreneurial

Center, Johnson & Wales University, Providence Business News, Roger Williams University, Slater Technology Fund, University of Rhode Island, and Utilidata.

Additional supporters include Bank Rhode Island, Business Development Company, Care New England, Centreville Bank, Cherrystone Angel Group, Citizens Bank, Deepwater Wind, Delta Dental of Rhode Island, Dimeo Construction Company, Gencorp Insurance Group, Gilbane, GTECH, The Moore Company, Morgan Stanley Wealth Management, Navigant Credit Union, Nortek, Rhode Island Student Loan Authority, Santander Bank, ShapeUp, Teknor Apex, The Washington Trust Company, and Ximedica.

Additional support is provided by AAA Southern New England, Bank Newport, Betaspring, Biomedical Structures, Community College of Rhode Island, CVS Health, Freedom National Bank, Hayes & Sherry Real Estate Services, InsureMyTrip.com, Rhode Island College, Starkweather & Shepley, and Tech Collective.

About the Competition

Established in 2000, the Rhode Island Business Plan Competition has been recognized as one of the top 40 business plan competitions in the country. To date, it has awarded more than $1.6 million in prizes to competitors emerging companies across many industries.

In addition to awarding prizes, the competition hosts educational events in the months leading up to the application deadline, including business plan writing and presentation skills workshops. In addition, the competition hosts the annual Rhode Island Elevator Pitch Contest.

Complete competition information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-bizplan.com.

www.risbj.com | volume four issue five

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2015 SBA Award Winners | SMALL BUSINESS

2015 SBA AWARD WINNERS

RI Small Business Person of the Year

RI SBA Young Entrepreneur of the Year

Christopher Ciunci

Jay and Lynsey Colgan

Owner, Tribal Vision, Providence, RI

Joseph G.E. Knight Award for Entrepreneurial Excellence Garland Writing Instruments Rick Becker, Owner

RI Home Based Business Champion Patricia Raskin, Owner Raskin Resources Productions, Inc.

Owners, A Child’s University

RI and NE Minority-Owned Small Business of the Year Hernan Padilla and Oscar Mejias Executive Director and CEO, Hi TEP, Providence

RI Financial Services Champion of the Year Sandra C. Cano Assistant Vice President Business & Community Development, Navigant Credit Union

RI Woman-Owned Small Business of the Year Verve Inc. Deborah Schimberg, Founder and CEO

RI Entrepreneurial Success Muff’s Motorsports Justin C. Hoffler, Owner, Ashaway

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2015 SBA WINNERS

Message from Mark S. Hayward District Director U.S. Small Business Administration

Their vast experience and professionalism have resulted in the creation of countless small businesses.

The Rhode Island Salute to Small Business celebration, held this year from May 4th through May 15th, provides the opportunity to acknowledge the contributions of our small business entrepreneurs and appropriately recognize those small businesses and champions who have distinguished themselves as what I believe are the “best of the best.”

I especially want to thank the Joseph G.E. Knight SCORE Chapter for making this important celebration possible by co-sponsoring the Rhode Island Salute to Small Business. The SCORE team of small business mentors counsel hundreds of small business owners and would-be entrepreneurs each year. Their vast experience and professionalism have resulted in the creation of countless small businesses.

SCORE certainly recognizes the importance of our annual salute to the state’s small business community.

These small business owners and champions will be honored at the Rhode Island Salute to Small Business Awards Luncheon on Wednesday, May 13th, at the Alpine Country Club in Cranston. This gathering of small business owners, entrepreneurs and their advocates represents the shared success and accomplishments achieved over the past year.

This year we will honor eight entrepreneurs and a Financial Services

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Champion. Their accomplishments and dedication to small business are exceptional.

I extend my congratulations to Christopher Ciunci, Owner of Tribal Vision, the 2015 Rhode Island Small Business Person of the Year.

Furthermore, Rhode Island is pleased to honor our regional award winners: Oscar Mejias and Hernan Padilla, CEO and Executive Director of HiTEP in Providence, as both Rhode Island and New England Minority-owned Small Business of the Year, as well as Jason and Lynsey Colgan, Owners of A Child’s University in Cranston as both Rhode Island and New England Young Entrepreneur of the Year.

The stories about these outstanding honorees are truly inspiring. Please take the time to read them in this special Small Business Week issue.

I also want to acknowledge those businesses and organizations that have supported the co-sponsorship of this year’s event. Without their help and dedication, this annual tribute to the small business community would not be possible.

Whether you have an existing business or are a would-be entrepreneur, the SBA and our resource partners— SCORE, the Center for Women & Enterprise and the Rhode Island Small Business Development Center—are ready to assist you in developing or updating a business plan, creating financial projections, or obtaining access to capital. I urge you to take advantage of these services.

A Message

2015 SBA WINNERS

From The Rhode Island Salute To Small Business Co-Sponsor

DENNIS CALLANAN AND BABAK TALEGHANI Co-Chair,

Joseph G.E. Knight, SCORE Chapter 13 The Joseph G.E. Knight SCORE Chapter 13 is honored to co-sponsor the 2015 Rhode Island Salute to Small Business celebration with the U.S. Small Business Administration.

SCORE is a national volunteer association that has been a partner of the SBA for 50 years. The Rhode Island chapter was founded in 1964 and is one of the first in the nation.

I particularly want to congratulate Richard Becker, Owner of Garland Writing Instruments in Coventry, as this year’s recipient of the Joseph G.E. Knight Award for Entrepreneurial Excellence.

The 2015 Rhode Island small business honorees are outstanding examples of the entrepreneurial spirit being alive and thriving in Rhode Island. Their hard work and perseverance in business are an inspiration to us all. Each winner has their own great story of how they rose to success, and I extend my sincere congratulations and offer my deepest admiration to the champions who advocate on behalf of the small business community.

The Rhode Island Salute to Small Business gives us the opportunity to not only honor our outstanding business owners, but also to reach out to the small business community in the state via a series of no-cost workshops that will be offered throughout National Small Business Week (May 4-8) and Rhode Island Small Business Week (May 11-15).

Our counselors have years of experience in the business world as executives and entrepreneurs.

They are all successful business people who are ready and willing to share their knowledge with you. All counseling sessions are offered at no cost, and are completely confidential.

To schedule your session with a SCORE counselor, call (401) 528-4561 or visit our website at www.riscore.org.

Last fiscal year, our counselors trained and mentored nearly 1,400 clients in one-on-one settings and our no- or low-cost business workshops are excellent avenues for small business owners and those looking

to start a small business to receive invaluable guidance from experienced professionals.

I would also like to extend my deepest appreciation and thanks to our corporate partners. Without their support and contributions, this great annual event would not be possible.

It is their continued commitment that allows us to recognize the accomplishments of the Rhode Island small business community.

On behalf of the over 40 SCORE volunteers throughout Rhode Island, I would like to join the small business community in extending my congratulations to our Small Business Person of the Year, Christopher Ciunci, Owner of Tribal Vision in Providence.

I would also like to congratulate our New England regional winners, Oscar Mejias and Hernan Padilla of HiTEP as the Rhode Island and New England Minority-owned Small Business of the Year, and Jason and Lynsey Colgan as the Rhode Island and New England Young Entrepreneurs of the Year. They are all extremely deserving recipients of the regional recognition. www.risbj.com | volume four issue five

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2015 SBA WINNERS

2015 Rhode Island Small Business Person of the Year

Christopher Ciunci

Owner, Tribal Vision

Chris is a true entrepreneur who has built Tribal Vision from the ground up. Disillusioned with the traditional ad agency model that focuses on its own interests, oftentimes at the cost of the client’s, Chris set out to transform this non-aligned business model with the creation of Tribal Vision.

Tribal Vision serves as an outsourced marketing department for hire that fills a gap in the marketplace. Through a hybrid of marketing strategy consulting and implementation, Tribal Vision provides organizations with the benefits of marketing expertise in a uniquely interest-aligned and objective manner.

Only four short years after its founding, the company now serves over thirty-five clients, with more than twenty-five employees spread over four offices and three countries. Tribal Vision has also been ranked one of Rhode Island’s fastest growing businesses for the last two years. A 4000% revenue increase over three years earned Tribal Vision a first place win in 2013, and the firm’s sustained growth earned it the second place spot in 2014. Additionally, Providence Business News named Tribal Vision one of the ‘Best Places to Work in Rhode Island’ for 2013.

Fostering a positive and productive work environment while valuing company culture, as well as individual growth and

We have a great team of professionals working with us at Tribal Vision and a team-first culture that is undeniable.

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happiness, Chris believes there are three elements of any business’ “tribe”: 1. The Customer Tribe 2. The Partner Tribe 3. The Internal Tribe Recognizing that any business will operate below its optimum if any part of that trio is not fully invested in the company, Chris prioritized his internal team from the start and has created a polished human resources system that includes workshops, performance reviews, strong internal training programs, off-site company retreats, and company social events. Chris recently stated, “We have a great team of professionals working with us at Tribal Vision and a team-first culture that is undeniable. We live by the motto ‘clients first,’ and that starts with an internal team that is motivated and content.”

Ciunci has also built a reputation in the community as a thought leader. He is the author of the marketing book Market Smarter, and is in the final stages of completing a second book, entitled 30 Tips to Market Smarter, geared toward small to midsize business owners.

Furthermore, he has been published in Providence Business News, and often presents seminars and webinars on various cutting edge marketing topics at notable venues such as Brown University VentureLab, Bryant University, Johnson & Wales University, the CEO Club of Boston, and the Harvard Club.

He believes community involvement extends beyond the business world and has consistently supported local charities such as Amos House, The Nature Conservancy, The Rodman Ride for Kids, and Cradles to Crayons. Ciunci’s active role in the community is particularly evident in his recent selection to the “40 Under Forty” by the Providence Business News, a listing of young professionals who are making a difference on a local, national, or international scale.

2015 SBA WINNERS

2015 Rhode Island Young Entrepreneur of the Year

Jay and Lynsey Colgan Owners, A Child’s University The 34-year-old husband and wife team, Lynsey and Jay Colgan, founded A Child’s University in 2002 with the innovative idea of providing parents a way to use the internet to see their children at an educationally focused early childhood development school. Recognition of the importance of early education, combined with the unease parents feel when not being with their child, led to the birth of A Child’s University.

Starting with a staff of three people and little more than a few hundred dollars revenue each week, this husband and wife team has grown the business into two large, state-of-the-art facilities that now employ over sixty people and generate revenue of more than $2,500,000 yearly.

From infant to pre-kindergarten, A Child’s University offers nationally recognized curriculums.

They are proud to be accredited by the National Association for the Education of Young Children. In fact, only 7% of America’s early childhood schools have achieved this certification.

The school’s national accreditation, coupled with the ability for parents to view their children (whether on their smartphone or computer) throughout the day on multiple cameras via an internet connection, provides a unique competitive advantage that has fostered significant growth over the past several years.

The day-to-day operation of A Child’s University has Lynsey and Jay working closely together.

Lynsey focuses entirely on team management activities and quality initiatives, while Jay is tasked with managing finances and growth, including recent construction projects. Backto-back expansion projects were completed on the Cranston location in 2013, followed by the purchase of two acres of land in Smithfield and the erection of a brand new facility in 2014, financed as an SBA 504 loan with Coastway Community Bank and New England Certified Development Corp.

The new facility benefits from over a decade of experience and “learning the hard way” to produce a facility that utilizes elements from Disney World resorts and theme parks.

“Despite a long list of accolades, awards, and financial success, the decade of A Child’s University development could have easily been a long series of obstacles and failures,” states Lynsey Colgan. As the Colgans were only 21 years old when they opened their doors, making strategic decisions without the benefit of wisdom and real world knowledge provided many learning opportunities. The Colgans credit persistence, a never give-up attitude, and integrity as the primary reasons A Child’s University has grown so successfully. Her advice to other entrepreneurs: “Just please don’t give up. It sounds cliché, but it is all that matters. Don’t give yourself the excuse of a weak economy as the way to quit on something.

Adjust course and make it work…no matter what.”

www.risbj.com | volume four issue five

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GCU Congratulates this year’s SBA Award Recipients!

Serving members for more than 60 years, by doing what’s right ….for you!

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To learn more visit CTI.NEIT.EDU or call 401.739.5000 x3345

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www.risbj.com | volume four issue five

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2015 SBA WINNERS

2015 Joseph G.E. Knight Award for Entrepreneurial Excellence

Garland Writing Instruments

Garland Writing Instruments, a manufacturer of fine writing instruments, was founded in 1927 by Louis Lanoie. The company, then called LEW Manufacturing, manufactured small industrial presses, which led to the design and development of the internal pen mechanism used by many of the major pen manufacturers throughout the United States and Europe. In the ’60s, Lew Manufacturing started making complete pens and pencils and changed its name to Garland Industries.

Rick’s experience in operations has helped him reduce many of Garland’s day-to-day expenses, but to truly get the company back into a growth mode, Rick realized he needed help from marketing and sales experts: “I needed a low-cost, effective way to reach not only our existing customer base, but also potential new customers. We have a great quality product that is made in America. We just need to make people aware of the quality and value our products offer.”

In May of 2013, Rick Becker purchased Garland Industries, now called Garland Writing Instruments, with the intention of growing the business and keeping the company in Rhode Island. A longtime RI resident, Rick believes in sourcing products locally: “Most of the material we use in our manufacturing process is either sourced in Rhode Island or nearby states.”

To help increase awareness, Rick reached out to SCORE councilors for their expert advice. Together they developed a long-range marketing strategy and are now working on its implementation. Over the last nine months, Garland’s business has started growing again. “We still have a long road ahead of us, but I feel confident in the plan we have in place,” said Rick. As Garland’s business grows, both domestically and abroad, Rick’s plan is to continue investing in the business, its employees and the surrounding community.

After receiving his Bachelor of Science in electrical engineering from the University of Rhode Island, Rick started his career designing automated test equipment for General Electric and then went on to become the Senior Test Engineer at Sippican Ocean Systems, Operations Manager at American Power Conversion, and Vice President of Operations at Goldline Controls. He has completed a Fellowship program at BU School of Management in leading clean energy ventures and has served on the Industrial Advisory Board of UMass Dartmouth.

Most of the material we use in our manufacturing process is either sourced in Rhode Island or nearby states.

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Garland became a charter member of the ASI (Advertising Specialty Institute) in 1965. Garland is proud of its many notable accomplishments and is one of the original designers and patent holders for the twist action pen mechanism. Garland products have flown on both Apollo moon missions and many of the Space Shuttle missions. In 1969, Garland developed the Photo Top pen, which greatly enhanced the promotional value of their writing instruments. Garland pens have even been used by Governors and Presidents to sign legislation into law.

Rick is not the only family member with entrepreneurial spirit. His wife, Beth, owns and operates Cool Beans Cafe in Narragansett.

His son, Mike, graduated from Boston College and is a PhD candidate at Northeastern University. His daughter, Sara, is a junior in mechanical engineering at Villanova University.

2015 Rhode Island and New England Minority-Owned Small Business of the Year

2015 SBA WINNERS

HiTEP Brings Technical Skills

and Career Advancement Opportunities in Rhode Island

Oscar Mejias and Hernan Padilla, CEO and Executive Director, Hi TEP Oscar Mejias founded the Hispanic Technology and Education Program (HiTEP) in 2006 because he saw the need to bring enhanced computer skills to those within the community. When the economic crisis hit in 2007, the demand for Mejias’ services increased exponentially. Knowing that a lack of training in technology was making it more difficult for Hispanics to find employment, Oscar set out to help them better understand and use technological advances such as the internet and social media.

At the onset, Oscar and his wife, Emilia, provided all of the training. However, they quickly realized he needed to expand to keep up with the demand for services. That’s when Mejias decided to bring on Hernan Padilla, an expert in business development, to head up HiTEP’s operations. With Padilla onboard, HiTEP’s expansion was rapid. In 2011, the company became licensed as a full training facility with the Rhode Island Department of Health to train new Certified Nursing Assistants (CNA), and is now the second largest provider of adult education services for various Rhode Island state agencies.

Serving a broad range of Rhode Islanders from various backgrounds, HiTEP has become a high-functioning vocational

preparatory training school serving the fields of nursing, customer services, computer/digital skills, ESL, and job development skills. With many of its students testing well above state averages, Mejias and Padilla have seen hundreds of their students get good jobs and improve their quality of life.

Now with two facilities in Providence and Pawtucket, and a staff of 16, HiTEP continues to grow. Both Mejias and Padilla know their work is far from done. With their goal of continuing to create programs that are consistent with the needs of Rhode Island’s adult learning community, HiTEP will continue to provide students with opportunities to enhance their technical skills and ensure a better quality of life.

For their demonstrated success and potential for growth as a minority-owned small business, the U.S. Small Business Administration is pleased to honor Oscar Mejias and Hernan Padilla, CEO and Executive Director of HiTEP in Providence, as the 2015 Rhode Island and New England Minority-Owned Small Business of the Year.

When the economic crisis hit in 2007, the demand for Mejias’ services increased exponentially

www.risbj.com | volume four issue five

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2015 SBA WINNERS

2015 Rhode Island Woman-Owned Small Business of the Year

Verve Inc. Mixes Fun

and Eco-Friendly Practices to Produce Tasty Results Deborah Schimberg, Founder and CEO, Verve Inc. Any woman who serves as majority owner of a small business, who developed a growing business, who has a three-year track record of success in revenues and profits, who has increased job creation, who has an innovative product or service, and who has demonstrated potential for future growth may be nominated for the Woman-Owned Small Business of the Year Award.

When Deborah Schimberg graduated from Brown University, she started her path as a serial entrepreneur with deep roots in social enterprise. She

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certainly never imagined that she would be featured on the pages of Men’s Health, Women’s Health, The Wall Street Journal, and US Weekly, or that one day her work would be the talk of the town amongst the likes of Martha Stewart, Rachael Ray, and the hosts of The View.

Schimberg began her career by starting the Southside Community Land Trust, a non-profit urban environmental organization in Providence, before founding the International Charter School in Pawtucket. It wasn’t until a visit to the rainforests of Guatemala that

she found her true calling. During her time in Guatemala, Schimberg learned about the chicle–the tree sap from which all chewing gum is made.

With her interest immediately sparked, Schimberg combined her entrepreneurial skills with her love of social enterprise, and opened Verve Inc. in 1995. Verve produces Glee Gum, an all-natural chewing gum that does not include the petro-chemical components found in most mainstream gums.

With Glee Gum’s success continuing to grow, Verve added Make Your

Verve produces Glee Gum, an allnatural chewing gum that does not include the petro-chemical components found in most mainstream gums.

Own Candy Kits for children. These educational kits taught children how to make their own candy using only natural ingredients, teaching kids the joys of making candy along with the responsibilities of being eco-friendly.

Over the past 20 years, Glee Gum’s popularity has continued to soar, and is now the number one natural chewing gum on the market. It is available in stores locally, such as Dave’s Marketplace, to nationally in Whole Foods, as well as internationally in Canada, South Korea, and the United Kingdom.

Verve continually strives to meet its two main objectives: profitability and social benefit. Schimberg and her employees are regular participants in local community activities in Providence, helping revive different parts of the city.

Deb has also started a scholarship program in conjunction with the Mayan Intercultural University of Quintana Roo. This program takes students from the areas where the chicle is produced and farmed, and gives them an opportunity at higher education.

For her demonstrated success as a woman-owned entrepreneur, the U.S. Small Business Administration is honored to present the 2015 Rhode Island Woman-Owned Small Business of the Year Award to Deborah Schimberg, Founder and CEO of Verve Inc.in Providence. www.risbj.com | volume four issue five

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2015 SBA WINNERS

2015 Rhode Island Home Based Business Champion

The Powerhouse Voice Patricia Raskin, Owner, Raskin Resources Productions, Inc. Patricia Raskin, host of the Patricia Raskin Positive Living radio show, is a nationally recognized, multi-media radio talk show host, award-winning producer, speaker and author. She is recognized by her peers and listeners as the “powerhouse voice” behind lifestyle, health and wellness, inspirational and personal growth talk radio. A “positive media” pioneer for over twenty-five years, Patricia has been hosting and producing media programs and serving as a catalyst for creating positive change through programs that focus on the positive side of life. Patricia helps listeners turn obstacles into opportunities and challenges into solutions to make their dreams come true through her renowned interviews with the “best of the best” motivational, spiritual, health, and self-improvement experts.

Relocating from North Carolina to Rhode Island in 2007, Patricia had to cultivate new relationships and find new outlets to deliver her message. Choosing WPRO, the largest talk station in Southern New England, helped Patricia get traction in a new territory and expand her business. Fast.

Growth was achieved by creating a unique niche in media broadcasting. Serving as a positive conduit between her guests and audience with the goal of helping both, she found a need for lifestyle and business experts and owners to communicate their message in a non-traditional format on talk radio. There was, and still is, no other program like hers on Rhode Island airways.

Raskin offers her guests their own platform; in essence, their own radio show, through her brand and program. Listeners are interested in self-improvement and positive thinking, while businesses are interested in expressing their message on long form radio. Patricia is the facilitator and media marketer, thus bringing the two together in an informational, educational format.

Each month, Patricia highlights a SCORE client’s business on her radio show.

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Listeners can call in to ask questions and learn more about the featured organization, while entrepreneurs benefit from an opportunity to engage potential customers and spread the word of how their product or service meets the customer’s needs.

Raskin now hosts and produces several radio programs on air, online, and on demand—on terrestrial radio and on the internet. In addition to many local and regional experts, nationally renowned guests have included Dr. Maya Angelou, Dr. Memhet Oz, Joan Lunden, ABC Shark Tank’s Kevin O’Leary, Ernest Borgnine, Elliot Gould, Patty Duke, Doris Roberts and Dean McDermott.

Moreover, Patricia has authored two books: Success, Your Dream and You focuses on the five ‘P’s for success — Purpose, Passion, Planning, Persistence, and Patience— in her goal to stimulate a creative working system that will combine business success with internal satisfaction and peace. Pathfinding: Seven Principles for Positive Living helps readers overcome personal struggles and achieve both internal and external success by: honoring ones heritage; being in the precious present; using one’s imperfections to perfect life; honoring ones innate talents and abilities; focusing on the positives; respecting, nurturing, and protecting relationships; and seeing miracles in everyday life.

Patricia helps listeners turn obstacles into opportunities and challenges into solutions

2015 Rhode Island Financial Services Champion of the Year

2015 SBA WINNERS

Sandra Cano

Bringing Small Business and Banking Communities Together in New and Innovative Ways As Assistant Vice President of Business & Community Development at Navigant Credit Union, Sandra Cano has used her unique skill set and tireless work ethic to help Rhode Island’s small business community grow. Sandra’s diverse background and education have made her an invaluable asset to both Navigant Credit Union and small businesses. Responsible for developing strategic business sectors, the underbanked community, community-based partnerships, and financial education campaigns in urban communities, Cano has helped change the way banks and small business customers interact.

Combining the skills she learned while earning her bachelor’s degree in management and economics at Bryant University and her master’s degree in public administration from the University of Rhode Island, with her outgoing, magnetic personality, Cano is able to connect with business owners and assist them in ways others cannot. Her knowledge of business operations, business planning, financial statements, and lending make her an invaluable asset to the small businesses she works with. Born in Medellin, Colombia, Cano moved to the United States in 2000.

With her native language being Spanish, and her proficiency in English, Cano is able to communicate with almost any business owner in their native language, adding a level of comfort to those she works with.

A strong component of her approach is constant collaboration with SBA resource partners, often referring business owners in need

of assistance to the Center for Women & Enterprise, SCORE, and the Rhode Island Small Business Development Center, relying on their guidance to assist borrowers as they refine their business concepts and prepare fundable business plans. Cano works closely with the SBA District Office as well, constantly getting business owners to meet with the District Office staff to discuss their eligibility for various government contracting programs and opportunities to help expand their business.

In 2012, Sandra was awarded the “Credit Union Rising Star” Award by the Credit Union Association of Rhode Island, Massachusetts Credit Union League, New Hampshire Credit Union League, and Center Point Magazine for her outstanding work and notable impact as a business leader. Cano was also selected by former Providence Mayor, Angel Taveras, to participate in the White House Initiative “Transforming Education Outcomes for Hispanics” Summit. This led to her being selected to participate in the two-week conference in New York at the United Nations, the “2012 Commission on the Status of Women” Conference, and subsequently being chosen to be part of the 2013 “Young Women’s International Training Institute (ITI)” in Bangkok, Thailand in 2013.

For her efforts in championing financial services for the small business community, the U.S. Small Business Administration is pleased to present the 2014 Rhode Island Financial Services Champion of the Year Award to Sandra C. Cano. www.risbj.com | volume four issue five

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2015 SBA WINNERS

2015 Rhode Island Entrepreneurial Success

Hoffler Takes Muff’s Motorsports

from Hobby to Successful Career

When Justin Hoffler was a little boy, he spent countless hours riding his Big Wheel and his bicycle. When he was older, he moved on to dirt bikes and eventually ATVs. The only thing that truly rivaled Justin’s love of riding these machines was how they worked: the engineering behind them, the way the gears worked, how the engines generated power, etc. Justin’s mind never stopped thinking about how these things functioned, as well as how to take them apart and rebuild them.

His love of engineering took him to the University of Connecticut, where he majored in mechanical engineering. His first real business transactions were actually selling used parts on eBay, but soon Justin realized that his knowledge of motorsports and his ability to repair bikes and ATVs could actually be a viable

The only thing that truly rivaled Justin’s love of riding these machines was how they worked

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business. Shortly after, Justin combined his education with his love of motorsports and began repairing dirt bikes and ATVs in his small garage back home.

But nothing could keep his passion and his entrepreneurial spirit contained to such a small space for long, and in 2010 Justin moved into a 1,600-square-foot facility, doubled his inventory and hired four employees. With his tenacious attitude and desire to always treat the customer well, Justin’s business began to get some traction. Slowly his shop expanded in size, number of employees, and sales.

In just four short years, Justin’s inventory grew to over 30,000 items, 50 times larger than when he started out. He continues to sell online to supplement the work he does in his shop. His staff has tripled in size and he has recently moved into an almost 20,000-square-foot facility. This new facility gives Justin the ability to house both the in-house repairs he and his crew provide on a daily basis and the massive amount of inventory he sells, some of which is shipped across the country on a 24-hour continuous cycle.

For his demonstrated success and potential for continued growth, the U.S. Small Business Administration is pleased to honor Justin C. Hoffler, Owner of Muff’s Motorsports, with the 2015 Rhode Island SBA Entrepreneurial Success Award.

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www.risbj.com | volume four issue five

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2015 SBA WINNERS

2015 Rhode Island SBA District Director Award

Center For Women

& Enterprise Has Made History In Excelling And Growning

Rhode Island Women Entrepreneurs

Carmen Diaz-Jusino, Director of New Enterprise and WBC | Susan Rittscher, President & CEO The Center for Women & Enterprise celebrates their 20th Anniversary as an organization dedicated to the building of a community that included disadvantaged women and women with greater experience and education. They wanted to learn skills from each other, as well as cultivate an environment that would facilitate success in any endeavor.

This desire to serve aspiring women entrepreneurs jettisoned the organization to develop a place where women could hone their business acumen. Acquiring knowledge on how to access capital to fund new ventures became the rallying cry, and in the summer of 1995, in the City of Boston, the dream became a reality.

The Center opened its first office with a grant from the U.S. Small Business Administration, funds from the Commonwealth of Massachusetts, Bank of Boston, and Ewing Marion Kauffman Foundation. Ironically, during this same time the Rhode Island Small Business Advisory Council began to work on a voluntary program to teach women entrepreneurs the essentials of being a successful business person through a program called “Power UP”.

They wanted to learn skills from each other, as well as cultivate an environment that would facilitate success in any endeavor.

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With support of the U.S. Small Business Administration Grant and matching funds from the Human Resources Investment Council of Rhode Island, the Rhode Island Foundation, and Fleet Bank, CWE’s services were easily expanded to Rhode Island in 2000.

The “Power UP” program and its principals folded nicely into this new organization. Since then, nearly 1200 women entrepreneurs (and some men as well) have completed and graduated from the program, many starting or expanding their business and becoming successful in their own right.

This is just a small sample of all of the programs run by the center, which now boasts four locations. The Center for Women & Enterprise, its President & CEO Susan Rittscher, and Carmen Diaz-Jusino, Director of New Enterprise and CWE have become outstanding partners of the Rhode Island District Office.

The collaboration has been endless. CWE is willing to participate in any undertaking that we ask. Always. In fact, they often volunteer their assistance before being asked. When CWE takes the lead, the Rhode Island District Office never has to worry; we know projects will be completed correctly and efficiently, and that participants will benefit from exceptional training curriculum.

In recognition of their collaboration with the Rhode Island District Office, as well as other resource partners, and their unwavering effort to assist the entrepreneurial community, I am proud to present the 2015 Rhode Island SBA District Director Award to Susan Rittscher and Carmen Diaz-Jusino of the Center For Women & Enterprise.

SUCESS

STORY seemed to be an absence of unique gifts to send home to her friends and family in Ireland. This led her to create her own line of t-shirts called “RI Threads.” She was able to sell hundreds of shirts all based on RI themes. This experience gave Roisin useful insight into not only the art-market scene, but also the world of an entrepreneur.

After marrying in 2010, Roisin was approached by another professional athlete and was asked to help her design t-shirts for her popular blog. This was the start of “Believe I Am.” The goal was to bring awareness to the power of self-talk and psychology in athletic performance.

Starting by designing a collection of shirts with hidden mantras and selling them online, she then decided to take her collection of floral designs and self-publish a runner’s training journal.

Olympian

to Entrepreneur

Roisin McGettigan-Dumas grew up in Wicklow, Ireland and came to Providence at the age of 19 on a track scholarship to Providence College, where she studied psychology and environmental studies and became a four-time All-American in track. After college, Roisin was good enough to compete for her home country in international competitions and at major championships. She continued to live, train and study in Providence, keeping a close relationship with her college coach Ray Treacy. The group she began training with

called themselves “Run Providence.” It was this group that helped inspire Roisin to create her first t-shirt design and website with her husband.

As a professional athlete, Roisin raced in competitions all over the US, Europe and the rest of the world. Spending a lot of time travelling the globe, she liked to soak up the places she visited and would try to find unique items and clothing to bring back home. When she would return back to Rhode Island, she realized there

Roisin was busy balancing motherhood, her new business, and making a competitive comeback

Launching her newest business venture just one month after the birth of her first child, Roisin was busy balancing motherhood, her new business, and a competitive comeback. Fortunately for her, her daughter was a great sleeper, so when she slept, Roisin was able to ship journals and t-shirts. In just two months, she managed to sell out her entire of stock of journals.

Seeing the need to expand and needing assistance with how to do so effectively, Roisin turned to the Center for Women & Enterprise. She began taking a couple of classes and then decided to sign up for “Power Up” Your Business. While she did have a background in business studies, her real life experience would prove to be an invaluable resource. The course helped Roisin better understand the reality of what it takes to run a business. With the vast knowledge and experience the instructors brought to the table, Roisin was able to apply what she was learning to her business right away and saw immediate results. Soon after the class concluded, she was asked to pitch her business and ideas to a couple of major companies, and was even offered a contract with one.

The support and assistance from the Center for Women & Enterprise proved to be a tremendous asset for Roisin as she continues to grow her business to this day, knowing that she has people in her corner whenever she needs them.

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SBA

Rhode Island

Congratulations Fr om S e t h A . G o o da l l

During National Sm all Business Week we recognize the success one week every year of some of our nation’s since 1963, the Preside best in business. For nt of the United States businesses to showcase has declared a nationa their importance to the l recognition for small economy.

This year’s SBA Rhod e Island Small Busin ess Week 2015 winn staying power, innovati ers are among the be veness, the ability to st and have demonstrat create jobs, and have ed shown commitment to their communities Small businesses are . vital to our communit ies. They sponsor ath and community drives letic teams and events , ser ve on school board , donate to local chari s and hospital boards ties and different commu nity groups.

Without our small bu sinesses and entrepre neurs, our communit appreciate the fact tha ies would be less vibran t you’re close to your t and less welcoming customers. Your hard cities and towns across .I work and investment Rhode Island. are the lifeblood of the Small businesses are vital to building a mo re hopeful future. W a new ser vice, you tak hen you open up a sho e a risk. Risk-taking p or lease a factor y or takes vision, and risk-t this year’s Rhode Islan offer aking takes courage. d winners, who help And it’s the risk-takers define the vibrancy of like an economy.

Every day, small busin ess owners are worki ng to grow their busin and increase America’ esses, create 21st cen s global competitiven tur y jobs, drive innov ess. Small businesses has shaped our countr ation, are part of that great y and made it great. entrepreneurial spirit that On behalf of my collea gues at the SBA, I wo uld like to extend sin congratulations to eac cere h of Rhode Island’s aw ard recipients.

Sincerely,

Seth A. Goodall

Seth A. Goodall New England Regio nal Administrator U.S. Small Business Ad ministration

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BankNewport.com www.risbj.com | volume four issue five

31

SBA

Rhode Island

SBA Rhode Island Participating Lenders Bank of America PLP/EXP

Centreville Bank EXP/EE

First Trade Union Bank PLP/EXP/EWCP

111 Westminster Street Providence, RI 02903 Kevin P. Tracy, Senior Vice President (401) 278-5520 Kevin.P.Tracy@baml.com

1218 Main Street W. Warwick, RI 02893 Karen Flynn, SVP Lending (401) 821-9100 Ext. 5244 KFlynn@CentrevilleBank.com

1 Harbor Street, Suite 201 Boston, MA 02210 Anina Butler, Vice President (617) 728-7320 AButler@FTUB.com

BankNewport EXP/EE

Citizens Bank PLP/EXP/EE

Freedom National Bank PLP/EXP/EE

500 West Main Road Middletown, RI 02842 Douglas Hanson, Vice President (401) 845-8731 Douglas.Hanson@BankNewport.com

One Citizens Plaza Providence, RI 02903 Gary Heidel, Director, SBA Program (401) 468-6127 Gary.Heidel@RBSCitizens.com

584 Putnam Pike Greenville, RI 02828 David Caruso, Vice President (401) 244-6655 DCaruso@FreedomNationalBank.com

Bank Rhode Island PLP/EXP/EWCP/EE

Coastway Community Bank

Greenwood Credit Union EXP

One Turks Head Place Providence, RI 02903 Manny Barrows, Senior Vice President (401) 574-1604 MBarrows@BankRI.com Scott Lajoie, Vice President (401) 574-1657 SLajoie@BankRI.com

PLP/EXP/EWCP/EE One Coastway Boulevard Warwick, RI 02886 Russell Gaston, Commercial Lending Manager (401) 330-1600 RGaston@Coastway.com

2669 Post Road Warwick, RI 02886 Holly Pettis, VP Commercial Lending (401) 562-2784 HPettis@GreenwoodCU.org

Bay Colony Development Corp. 504 1601 Trapelo Road Waltham, MA 02451 Mary Mansfield (781) 478-3655 MKMansfield@BayColony.org

Bristol County Savings Bank PLP/EXP 215 Armistice Boulevard Pawtucket, RI 02860 Joan Medeiros (508) 678-1862 Joan.Medeiros@BCSBmail.com Stephen M. Hardy (401) 722-8845 SMHardy@BCSBmail.com

Business Development Company EXP/EE 40 Westminster Street, Suite 702 Providence, RI 02903 Peter Dorsey, President (401) 351-3036 PDorsey@BDCRI.com

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Community Investment Corp. 504 2315 Whitney Avenue, Suite 2B Hamden, CT 06518 Gary Toole, RI Manager (203) 776-6172 x124 GToole@CTCIC.org

Coventry Credit Union EXP 2006 Nooseneck Hill Road Coventry, RI 02816 Claudia Flanagan, Director of Consumer Lending (401) 397-1900 x2314 CFlanagan@CoventryCU.org

Dexter Credit Union 934 Dexter Street Central Falls, RI 02863 David Angell, Chief Lending Officer (401) 724-6200 David.Angell@DexterCU.org

First Niagara Bank PLP/EXP/EWCP 225 Park Ave., 2nd Floor West Springfield, MA 01089 Gary M. Besser, Vice President (413) 747-1395 Gary.Besser@FMFG.com

Home Loan Investment Bank PLP/EXP/EE 1 Home Loan Plaza, Suite 3 Warwick, RI 02886 Daniel Murphy, Vice President (800) 223-1700 x435 DMurphy@HomeLoanBank.com

Independence Bank PLP/EXP/EWCP/EE 1370 South County Trail East Greenwich, RI 02818 Robert A. Catanzaro, President (401) 886-4600 RAC@Independence-Bank.com

Navigant Credit Union EXP/EWCP/EE 1005 Douglas Pike Smithfield, RI 02917 Jeffrey P. Cascione, Vice President (401) 233-4716 JCascione@NavigantCU.org

New England Certified Development Corp. 504 500 Edgewater Drive, Suite 555 Wakefield, MA 01880 Nancy Gibeau, Loan and Investment Officer (RI, MA) (508) 254-7891 or (401)450-0047 NGibeau@BDCNewEngland.com

SBA Rhode Island Participating Lenders | SMALL BUSINESS

Ocean State Business Development Authority 504 155 South Main Street, Suite 403 Providence, RI 02903 Henry Violet, President (401) 454-4630 BudV@OSBDA.com Antonio A. F. Moura, Vice President (401) 454-4560 AAFMoura@OSBDA.com

Pawtucket Credit Union EXP 1200 Central Avenue Pawtucket, RI 02861 Joseph Silva, Vice President Commercial Lending (401) 729-4092 Joseph.Silva@PCU.org

People’s Credit Union EXP 858 West Main Road Middletown, RI 02842 Peter Murray, Bus. Relationship Manager (401) 846-8930 Ext. 1273 PMurray@PeoplesCU.com

Rockland Trust PLP/EXP 288 Union Street Rockland, MA 02370 Michael Savage, Senior Vice President (781) 982-6546 Michael.Savage@RocklandTrust.com George Couto, VP Government Lending (781) 982-6768 George.Couto@RocklandTrust.com

Santander Bank PLP/EXP/EWCP/EE One Financial Plaza Providence, RI 02903 Stephen J. White, SBA Product Manager (617) 953-9135 SWhite@Santander.us

Savings Institute Bank & Trust 100 Bellevue Avenue P.O. 210 Newport, RI 02840 Timothy Burns (401) 608-1679 Timothy_Burns@BankSI.com Christina Feden (401) 608-1691 Christina_Feden@BankSI.com David Williamson (401) 608-1628 David_Williamson@BankSI.com

South Eastern Economic Development Corp.

504, Microloans 80 Dean Street, Taunton, MA 02780 (508) 822-1020 Maria Gooch-Smith, Executive Director MGoochSmith@SeedCorp.com Lisa Holmes, Commercial Loan Officer LHolmes@SeedCorp.com Tamarah Bacon, MicroLoan Manager TBacon@SeedCorp.com

TD Bank PLP/EXP/EWCP 180 Westminster Street Providence, RI 02903 David M. Ferreira Vice President Small Business Relationship Manager (401) 489-5620 David.Ferreira@TD.com

UPS Capital Business Credit PLP/EXP/EWCP 35 Glenlake Parkway, NE Atlanta, GA 30328 Jack Mello, Senior Policy Credit Officer (877) 263-8772 JMello@UPS.com

The Washington Trust Company PLP/EXP/EWCP/EE 23 Broad Street Westerly, RI 02891 Tom Quinlin, VP Retail Lending (401) 348-1301 TWQuinlin@WashTrust.com

Wave Federal Credit Union 480 Greenwich Avenue Warwick, RI 02886 David Duprere, Executive Vice President (401) 781-1020 David@WaveFCU.org

Webster Bank PLP/EXP/EE 100 Westminster Bldg., 50 Kennedy Plaza, Ste 1110 Providence, RI 02903 Anthony Capuano, Senior Vice President (401) 228-2042 ACapuano@WebsterBank.com Bob Polito, SVP Government Guaranteed Lending (860) 612-5433 RPolito@WebsterBank.com

Westerly Community Credit Union EXP/EE 122 Granite Street Westerly, RI 02891 Michael Lynch, Vice President, Lending (401) 596-7000 Ext. 2116 mlynch@westerlyccu.com Holly DePerry, Small Business Lending and Business Development (401) 637-4436 HDePerry@WesterlyCCU.com

For More Information Visit www.sba.gov/ri U. S. Small Business Administration Tel: 401-528-4561 Rhode Island District Office Fax: 401-528-4539 380 Westminster Street, Room 511 E-mail: providence.ri@sba.gov Providence, RI 02903-3246

504: SBA 504 Certified Development Company – Fixed rate loans for real estate and/ or M&E purchase or improvement EE: Export Express: Export Express streamlined financing up to $500,000 EXP: SBA Express Lender – Expedited loans up to $350,000 MicroLoans: $50,000 limit up to 5 years to repay with technical assistance PLP: Preferred Lender Program – 1-day turn around from SBA EWCP: Export Working Capital Program Lender – expedited loans up to $5,000,000 www.risbj.com | volume four issue five

33

SBA

Rhode Island

Thank you The United States Small Business Administration would like to thank all of the participating sponsors of the 2015 Emerging Leaders Program: The Center for Women & Enterprise, Rhode Island Small Business Development Center, SCORE - Joseph G.E. Knight Chapter 13, Northern Rhode Island Chamber of Commerce, Rhode Island Procurement Technical Assistance Center, Central Rhode Island Chamber of Commerce, Minority Business Enterprise Compliance Office, South Eastern Economic Development Corporation, Chafee Center for International Business, Bank RI, and Coastway Community Bank.

The Emerging Leaders Program is a seven month executive intensive entrepreneurship education series includes approximately 100 hours of classroom time per participant and provides the opportunity for small business owners to work

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with experienced mentors, attend workshops and develop connections with their peers, city leaders and financial communities, and all at no cost to participants Nationally, graduates of the program have: • secured more than $1 billion in government contracts • accessed $73 million in new financing.

• created nearly 2,000 new full-time jobs.

• reported an increase in revenue (62% of participants) If you are interested in participating in the 2016 Emerging Leaders Program in Rhode Island and would like more information, please contact Joan Moran at joan.moran@sba.gov or call (401) 528-4561.

www.risbj.com | volume four issue five

35

TRADE DAY MAY 20, 2015

Bryant University

30th ANNUAL

WORLD TRADE DAY MAY 20, 2015 A G E N D A 7:30 a.m. Registration, Breakfast, Exhibitor Showcase 8:00 a.m. Welcome Remarks 8:15 a.m. Keynote Presentations Global Trends to Local Decisions: Seizing the Opportunity for U.S. Manufacturing Presented by: Dustin Burke, Principal, The Boston Consulting Group U.S. manufacturing is benefiting from competitive wage rates, productive workers, world-leading energy costs and a heightened awareness of the costs and complexities of long supply chains. At the same time, changing global dynamics have led to a strong U.S. dollar, low oil prices, and an evolving logistics landscape. Burke will share insights from BCG’s ongoing research and client work in U.S. manufacturing and will provide insight into what this means for New England manufacturers and how these global trends impact local decisions.

The Relationship Between Trade and Transportation Presented by: Ray LaHood, Senior Policy Advisor, DLA Piper; former U.S. Secretary of Transportation To be competitive in a global economy, U.S. companies must be able to move goods and products safely and efficiently. A healthy supply chain infrastructure is crucial. As Secretary of Transportation from 2009-2013, LaHood oversaw air, maritime and surface transportation budgets and led major efforts to improve safety, infrastructures and efficiencies in the U.S. supply chain.

10:00 a.m. Executive Panel Discussions Changing Dynamics in the Global Supply Chain Moderator: Teresa McCarthy, Associate Professor, Marketing, Coordinator Global Supply Chain Management Program,

Bryant University Panelists: Kelly Coutu, Global Director of Supply Chain, Teknor Apex; Russ Mills, CFO Global Supply Management, Stanley Black & Decker Ron Link, Senior Vice President Logistics, CVS Caremark Dottie Barr, Vice President, Global Planning and Logistics, Haemonetics Emerging Export Markets Moderator: Elliott Dix, Executive Director Foreign Exchange, Santander Panelists: Larry E. McCarver, Vice President International Sales and

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Marketing, Taco, Inc.; Angus Taylor, President & CEO, Hexagon Metrology, Inc. Kevin Peppe, Vice President, Raytheon Integrated Defense Systems (IDS), Seapower Capability Systems

CHANGING GLOBAL DYNAMIC

Creating opportunities Changing Dynamics in Global Manufacturing for New England Moderator: Dustin Burke, Principal, The Boston Consulting Group Panelists: Bryan Fournier, Vice President Global Operations, A.T. Cross; Peter Henderson, Finance Director/Controller, New Balance; Presented by: Leslie Taito, Sr. Vice President New Business The John H.Hope Chafee Center for International Business

Development, Global John Quinn, Vicebusiness.

PresidentWe’ll & General Manager High

Bring us your give you the world.

Performance Foams, Rogers Corporation 11:30 a.m. Breakout Sessions A Mitigating Risk in the Global Market With today’s longer and more complex supply chains, diverse economic markets, and political instability, understanding and utilizing tools to mitigate risk will help companies protect their goods, protect their money, and, ultimately, protect their business.

Facilitator: Joe Nero, Area Vice President, Global Risk Management

Practice, Arthur J. Gallagher Presenters: Dan Schobel, Coface; Dave Zamsky, Vice President of Marketing and Business

Intelligence, UPS Capital B Re-shoring and the Impact on the Supply Chain Hear different perspectives from a manufacturer, a logistics provider, an importer and a China expert on strategies and best practices for dealing with today’s global supply chain. What does re-shoring mean and is it a viable option?

Moderator: Paul Oliveira, Shareholder, Director of Tax Services, KLR Panelists: Richard Cant, North American Director, Dezan Shira & Associates; Joanne Chakalis, Sr. Mgr. Global Supply Planning, New Balance; Joe Iovini, VP Sales and Business Development, Dean Warehouse; Scot Jones, Groov-Pin Corporation C Global Marketing Strategies & Leveraging Social Media Learn how you can take your company global! Sheppard Leger Nowak will share strategies for promoting your business globally through social media and then introduce Factory Five, a manufacturer of “kit cars,” that succeeded in taking this unique product global.

Bryant University Facilitator: June Landry, Director of Marketing, KLR Presenters: Marina Dippel, Social Media Services Director, Sheppard Leger Nowak Inc. (SLN); Dave Smith, President/CEO, Factory Five

D New England Defense Industry: Where are the opportunities?

From product innovation to foreign defense programs, the opportunities for New England’s defense industry are numerous. Learn about opportunities to diversify, innovate and expand into global markets.

Moderator: Molly Magee, Executive Director, Southeastern New

England Defense Industry Alliance (SENEDIA) Panelists: Stephen Katz, Program Director, RIPTAC; Clare King, President, Propel LLC;

Matthew Taylor, Supplier Innovation Manager, Raytheon Corporation; Cheryl Zimmerman, President, FarSounder

E Expanding Global Competitiveness Through Manufacturing Excellence Manufacturing is alive and well in New England! During this session, representatives from POLARIS MEP and other regional agencies will discuss what is being done to drive innovation, technology and global competitiveness.

Moderator: John Riendeau, Director Business Development, RI Commerce Corporation Panelists: Ted Bauer, Manager of Workforce Development, Mass MEP; Christian Cowan, Center Director, POLARIS MEP RI; Bill McCourt, Executive Director, RI Manufacturers Association F Regional Infrastructure to Support Economic Growth Good infrastructure is critical to the movement of freight regionally, nationally and internationally, and is key to economic growth.Representatives from Connecticut, Massachusetts, and Rhode Island will discuss how regional infrastructures support and promote global trade in New England.

Moderator: Evan Matthews, Quonset Development Corporation Panelists: Tricia L. Schoeneck Lambert, Administrator, NHDOT/ Bureau of Aeronautics; David Elder, Supervising Transportation Planner, Bureau of Policy and Planning, CT DOT; Ammie Rogers, Transportation Planner, MA DOT; Chris Witt, Principal Planner, RI Division of Planning

G Global Economic Espionage – Protecting Your Company

This session for corporate executives will open your eyes to the threat posed by economic espionage. After viewing a short video presentation of an actual event, FBI Agent Carmine Nigro will share advice about how executives can take precautions to protect their companies.

Facilitator: Stephen Ucci, Counsel, Locke Lord LLP Speaker: Special Agent Carmine Nigro, FBI Counterintelligence Strategic Partnership Coordinator, Boston Office

12:30 p.m. Transition to Lunch; Exhibitor Booths 12:45 p.m. Luncheon

S P E A K E R S Morning Keynote Presentations

Global Trends to Local Decisions: Seizing the Opportunity for U.S. Manufacturing

Dustin Burke

Principal, The Boston Consulting Group Based in Chicago, Burke is a core member of BCG’s Operations and Global Advantage practices, as well as its Industrials and Consumer practices.

He works with manufacturers, distributors, and retailers on developing and executing supply chain strategies that help clients create and sustain competitive advantage.

He has been with BCG for seven years and is a former member of BCG’s Mumbai office. Prior to joining BCG, Burke was with MGM Resorts and Citigroup. At BCG, his recent work includes: •

Planning and executing U.S. sourcing program for U.S. consumer company, shifting more than $10 billion of spending to new firms and factories

•

Country risk mitigation strategy and capital investment evaluation for global specialty chemicals company expanding facilities in an emerging market

•

Researching and modeling likely impact of Panama Canal expansion on U.S. container movement, with business implications for shippers and logistics companies

•

Multiple commercial due diligence for both strategic as well as private equity buyers

•

Growth strategy for Indian industrial conglomerates, evaluating market entry and expansion in clean tech, cement, and logistics

•

Network planning and capability development across functions for fast-growing industrial distributor

The Relationship Between Trade and Transportation

Ray LaHood

Senior Policy Advisor, DLA Piper; former U.S. Secretary of Transportation With a 36-year career in public service, LaHood has extensive experience on major national policy issues, among them transportation and infrastructure. He served as the 16th U.S. Secretary of Transportation from 2009 to 2013 and quickly became known as a bipartisan leader and skilled conciliator in a highly partisan environment. His tenure was marked by landmark efforts to improve safety in every mode of transportation, from aviation and rail to pipelines and automobiles.

Welcome Remarks:

Luncheon Keynote Speaker: Maria Contreras-Sweet, Administrator of the U.S. Small Business Administration

2:45 p.m. Regional Governors Panel hosted by Rhode Island Governor Gina Raimondo Changing Global Dynamics – Opportunities for Economic Growth Rhode Island Governor Gina Raimondo will host a lively panel discussion about the New England economy and what our region’s states can and are doing to support international trade. In today’s dynamic global environment, government leaders are challenged to capture the opportunities that exporting presents and to work collaboratively to provide programs and export initiatives to support our success in the global marketplace.

Moderator: Mark Murphy, Editor, PBN

3:30 p.m. Closing Reception: Networking, Exhibits

Under LaHood’s leadership, improvements to America’s infrastructure included building or replacing 350,000 miles of highway, repairing 20,000 bridges and renewing or constructing 6,000 miles of rail track. He also achieved more stringent fuel efficiency requirements from automakers, took steps to address airline pilot fatigue and turned the problem of distracted driving into a national concern.

As Secretary of Transportation, he oversaw an agency with more than 55,000 employees and a $70 billion budget for air, maritime and surface transportation. Before heading the U.S. Department of Transportation, LaHood served from 1995 to 2009 in the U.S. House of Representatives for the 18th District of Illinois and also served on various House committees, among them the powerful House Appropriations Committee and the House Intelligence Committee.

He is currently Senior Policy Advisor at DLA Piper in Washington, D.C. www.risbj.com | volume four issue five

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World Trade Day at Bryant University With sincere thanks to our World Trade Day committee members, who provide valuable guidance and assistance throughout the year!

World Trade Day Committee Cheryl Merchant, President/CEO, Hope Global – Co-Chair Paul Oliveira, Shareholder, Director of Tax Services, KLR – Co-Chair Joe Amaral, Consultant George Asermely, Mediterranean Shipping Elena Barkalova, Alex and Ani Gerald Cohen, Chafee Center Heather DeMarco, Chafee Center Ray Fogarty, Chafee Center Aaron Guckian, Washington Trust Steve Ilmrud, Hexagon Metrology June Landry, KLR Nancy Langrall, Langrall Strategies Sabra Nash, Hope Global

Joe Nero, Arthur J. Gallagher Avishai Nevel, Nevel International Andres Ramirez, Bryant University Robin Richardson, Bryant University Dan Schobel, Coface John Silva, Santander Bob Sinclair, Trade Consultant Tom Tanury, Tanury Industries Kathy Therieau, Commerce RI Ray Thomas, ARay Business Communications Stephen Ucci, Lock Lorde LLP Linda Woulfe, Chafee Center Keith Yatsuhashi, U.S. Department of Commerce

A Message From The Director of the John H. Chafee Center For International Business at Bryant University

Raymond W. Fogarty, Director

I am extremely proud that this year we are celebrating

our 30th Annual World Trade Day. Our event and global trade have come a long way in 30 years. We are proud to once again offer this dynamic conference for leaders of

companies of all sizes, industries and regions to gather for

learning, inspiration and networking.

Please join us on May 20th!

To Register:

ONLINE: www.regonline.com/worldtradeday2015 VISIT: www.bryant.edu/worldtradeday CALL: 401-232-6407

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30 years and counting Bryant University and International Trade

1986 First World Trade Day

1990

World Trade Center RI Created

1988

Rhode Island Export Assistance Center was Established

2000

John H. Chafee Center dedicated June 14, 2000 by his son, Senator Lincoln Chafee

Awarded “E” Award for Excellence

2004

Bryant College Becomes Bryant University

2005

U.S.– China Institute / Confucius Institute

2015

30th Annual World Trade Day www.risbj.com | volume four issue five

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World Trade Day at Bryant University

World Trade Day Themes Reflect Evolving Global Market

“Our themes and keynote speakers over the years have always focused on global issues and trends,” Ray Fogarty, Director, Chafee Center

1998: Globalizing your Business for the 21st Century 1999: Exploring Global Commerce: Year 2000 and Beyond 2000: Building Global Markets in the Age of E-Commerce 2001: The Balance of Trade: Where Will Exports Grow?

2002: The European Union, 1992-2002 – 10 Years Later 2003: Trade in the Americas 2004: Trade Dynamics in Asia 2005: Keys to Success in Today’s Global Economy 2006: Global Issues - Focus on the Future 2007: Inspiration, Innovation, Growth 2008: Making the Move into Emerging Markets 2009: The Power of Trade: Strategies for Growth in the Global Economy 2010: American Renewal and Growth 2011: Competing Beyond Borders 2012: Made in the USA: The U.S. Manufacturing Renaissance 2013: Made in the USA: Globalization Starts Here 2014: Back to the USA: Partnering for Global Success 2015: Changing Global Dynamics: Creating Opportunities for New England

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30 years and counting

Why is Exporting Important?

When people debate the importance of exporting it is important to have the facts! Exports create numerous opportunities that have a direct impact on the New England economy. Consider the following proven facts about why exporting is important: •

Broaden and Diversify Your Client Base - 95 % of the World’s Consumers are OUTSIDE of the United States

•

Facilitate Long Term Growth - 70% of world economic growth over the next 5 years will take place outside of the U.S. (U.S. International Trade Administration)

• Create U.S. Economic Growth

- Nearly 30% of GDP Growth over the last 5 years has

been the results of EXPORT growth (http://trade.gov/ neinext/role-of-exports-in-us-economy.pdf) • Exports Lead To More and Better Paying Jobs - In 2014, exports of goods and services directly and

indirectly supported an estimated 11.7 million U.S. jobs

- Research conducted by the International Trade

Administration (ITA) of the U.S. Department of

Commerce has shown that workers in export intensive

manufacturing industries earn, on average, 18

percent more than their counterparts in other

manufacturing industries.

•

Opportunities for Product Diversification - New markets open up opportunities for new ideas to help grow sales and profits

•

Size Is Not a Factor - 97% of exporters are small or mid-sized businesses - 67% of exporters have fewer than 20 employees

•

Exports Help the RI Economy -RI Exports grew 60% over past five years, from $1.5B in 2009 to $2.4B in 2014 - Customers in 164 countries and territories buy RI- made goods and services -In 2014, exports of goods and services supported 13,459 jobs in Rhode Island - International Trade (exports and imports) supports 132,416 RI jobs (more than 1 in 5) - Share of jobs tied to trade increased 139% from 9.3% in 1992 to 22.2% in 2013

•

Foreign owned companies invest and build facilities and employ 27,300 workers in RI

•

Free Trade Agreements (FTAs) represented 42% of exports in 2013 and help fuel rapid export growth from RI to partner countries

RI Exports By Industry | 2014 Total: $2.4 Billion Top 10 Categories of RI Product Exports ($M)

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World Trade Day at Bryant University

International Trade

Has Deep Roots in Rhode Island

While the annual World Trade Day event has been celebrated for the past 30 years, International trade has been part of Rhode Island and the New England business world for hundreds of years. Rhode Island Sea Grant notes that the early settlers in Narragansett Bay had ongoing trade to all parts of the English countries.

“Maritime trade became the first business of any significance in the colony, and shipbuilding its first manufacturing industry. Rhode Islanders did surprisingly well at both … At the beginning of the 1700s, Rhode Island was building ships in Providence, Newport, Warren, Bristol, East Greenwich, and Warwick for sale to other colonies and to Europe.”

Providence is also recognized as the starting point for trade with China.

“In 1787, John Brown of Providence dispatched his ship the General Washington to Canton, China by way of Madeira, Madras, and Pondicherry. The cargo consisted of anchors, cannon shot, bar iron, sheet copper, ginseng (an herb growing wild in New England which was much prized by the Chinese for medicinal purposes and as an aphrodisiac), tar, spermaceti candles, Jamaica spirits, New England rum, and Madeira wine and brandy.”

1787 – China Trade Opens

“The voyage to China took ten months. On the way back stops were made at St. Helena and Ascension Islands in the South Atlantic, and St. Eustacius in the Antilles. In July 1789, the General Washington reached Providence after 32,000 miles under sail. Her cargo of tea, silks, china, cotton, flannels, gloves, and lacquerware was valued at $99,848.”

John Brown of Providence dispatched his ship the General Washington to Canton, China

The history of maritime trade is well documented in Stuart Hale’s Narragansett Bay: A Friend’s Perspective, which can be found online at http://www/providenceri.com. Based at the University of Rhode Island Graduate School of Oceanography, Rhode Island Sea Grant is a partnership of the university, the National Sea Grant College Program, the National Oceanic and Atmospheric Administration (NOAA), and the state of Rhode Island.

1793 - Samuel Slater Mills

Newport Black Ships Festival

There are numerous milestones in Rhode Island’s trade and industrial development history.

In 1793 in Pawtucket, RI, Samuel Slater built the first of several cotton mills in New England. The innovation led Slater to be called both the “Father of American Industry” and the “Founder of the American Industrial Revolution” with good reason.

Hydropower mills provided the impetus for the development of numerous industries in New England, including base metals and machinery, cotton textiles, woolen textiles, jewelry and silverware.

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Sea trade from Rhode Island also opened the trade route with Japan. In 1854, Treaty of Kanagawa was the first treaty between the U.S. and Japan. The treaty opened the ports of Shimoda and Hakodate to American trade and permitted the establishment of a U.S. consulate in Japan. The treaty was negotiated by Commodore Matthew C. Perry, USN, of Newport, RI. The treaty ended two centuries of Japanese isolationism.

The Black Ships Festival, held annually in Newport, RI and Shimoda, Japan, celebrates the signing of the treaty. The “Black Ships,” or “Kurofune,” refers to the Japanese term for foreign ships which, with one exception, were excluded from Japan for two hundred years until 1854.

30 years and counting

Changing Global Dynamics

Creating Opportunities For New England Eastern Trade Council Report on Exports and Employment in the Northeast $392.5 Billion in exports in 2013 200 countries 1.2 Million direct jobs supported plus 1.3 Million indirect jobs Leading markets: • Canada • United Kingdom • China • Mexico • Japan Top industries: • Metals • Aerospace • Chemicals • Computers • Forestry

Exports and Employment in the Northeast in 2013 Eastern Trade Council | An affiliate of the Council of State Governments February 1st 2015 | Prepared By The Trade Partnership | Washington, DC

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World Trade Day at Bryant University

John H. Chafee Center

for International Business In Partnership with Commerce RI

Founded in 1988, the John H. Chafee Center for International Business at Bryant University was named after the late Rhode Island Senator John H. Chafee, a longtime advocate of international trade and supporter of efforts to promote exports.

The Chafee Center for International Business provides comprehensive international trade services to help businesses expand into international markets and includes: • Rhode Island State International Trade Office • World Trade Center Rhode Island • RI Export Assistance Center Located at: Bryant University 1150 Douglas Pike, Smithfield, RI 02917 Tel: 401-232-6407

Services and Programs

Training Programs: Providing companies and individuals with

U.S. Department of Commerce Services: The Chafee Center

the tools and information needed to keep abreast of global trade issues, understand basic as well as advanced export procedures and regulations, and learn about foreign markets

and Commerce RI work in close partnership with the local Department of Commerce Commercial Service, providing companies with the opportunity to participate in their services and programs, including the Gold Key service, International Partner Search and other Match-Making programs, as well as providing access to assistance through their offices located at U.S. embassies throughout the world.

Market Research: Working with students and international business professionals, companies receive assistance in identifying new markets, determining specific requirements, understanding regulations.

Strategic Consulting: The Chafee Center team of international trade professionals is available to meet with companies to discuss their global business needs and provide assistance in determining strategic objectives, guiding them through the export process and helping resolve questions and problems.

Business Development Projects: Working in close collaboration with Bryant University faculty, staff and students, the Center is able to assist companies on an individual basis with strategic business development projects.

Trade Events: In collaboration with Commerce RI and the State of RI, the Center assists in organizing regular foreign Trade Missions and Trade Show events that are strategically designed to facilitate global trade opportunities for local businesses.

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Export Training Grants: Though the Rhode Island Governor’s Workforce Board (GWB), financial assistance is available to help cover the cost of training related to international business.

Training can either be for an individual or for a group and can cover many topics, including language training, training in foreign regulations and requirements, technical training, country specific training, etc.

World Trade Day: This annual event is one of the largest international trade conferences in the Northeast, bringing together more than 500 business people, government leaders, trade experts, and international diplomats to discuss global trade issues and opportunities.

30 years and counting

Business Development Programs The Chafee Center supports Bryant University’s mission of providing undergraduate, graduate and professional education programs through collaborations with faculty and students. As part of this collaboration, structured business development programs are offered throughout the year in the form of student Practicums, utilizing the resources of Chafee Center staff, Bryant University faculty and students. For those whose needs and interests are more specialized, Customized Programs are designed as needed throughout the year and supported by the appropriate resources available through the Chafee Center.

For more information, Contact Gerald Cohen.

Call 401-232-6407 or email gcohen@bryant.edu.

Practicum Programs

Many of the degree programs at Bryant University require students to complete a Practicum, a 3-credit capstone course required for graduation. Each Practicum places the students in teams working directly with companies on real-life projects. Building on classroom discussion, team work and guidance from a team of Bryant professors and business professionals at the Chafee Center, students prepare and deliver high level reports to their client companies.

Customized Business Development Programs

Many company projects do not coincide with the timing of the Practicum programs or require special attention. In such cases, the Center will work with interested companies to determine what their requirements are, how long the project will take, the resources required and an appropriate schedule. These customized projects are done on a case by case basis and can be very flexible in terms of scope, focus, duration and timing.

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World Trade Day at Bryant University

STEP

State Trade and Export Promotion

The State Trade and Export Promotion (STEP) Program is a national export initiative which makes matching-fund awards to states to assist small businesses in entering and expanding into international markets. Administered by the U.S. Small Business Administration’s Office of International Trade, the program’s objectives are to increase the number of U.S. small businesses that export and to increase the value of exports by small businesses.

The Chafee Center for International Business at Bryant University, in partnership with Commerce RI, is pleased to announce they have been awarded by the SBA the STEP program for fiscal year 2014. The Program began September 30, 2014 and will expire on September 29, 2015. The Rhode Island STEP program will focus on providing eligible Rhode Island small businesses with the following services in support of expanding international business: • Strategic Export Consulting

• Global Market Research • Assistance Export Training • Organized Trade Missions • Organized Trade Events

In addition to these services, financial assistance is also available to eligible companies for the following programs: • Participation in a Trade Mission Exhibiting at an International Trade Show • Participating in an International Training Program • Website Translation • Preparation of Foreign Marketing Materials

All Rhode Island companies are encouraged to contact the Chafee Center to learn more about STEP and how to apply for assistance.

Email: lwoulfe@bryant.edu Tel: 401-232-6525

The Chafee Center and Bryant University are working together with other like-minded organizations in the State of Rhode Island to create short, medium and long term strategies for economic success. Using a collaborative work team approach which supports Bryant University’s global learning goals, this will create benefits for Rhode Island by fostering innovation and entrepreneurship, driving increased export opportunities and strengthening the state’s economy.

This public/private partnership model involves students, faculty, business, government and economic development organizations, including Commerce RI, Rhode Island Manufacturers Association (RIMA), POLARIS MEP, U.S. Department of Commerce, U.S. Small Business Administration (SBA) and numerous regional and local industry associations.

To Register:

ONLINE: www.regonline.com/worldtradeday2015 VISIT: www.bryant.edu/worldtradeday CALL: 401-232-6407

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30TH ANNUAL

WORLD

TRADE DAY

CHANGING GLOBAL DYNAMICS:

MAY 20, 2015

Creating opportunities for New England Join us as we celebrate the 30th anniversary of World Trade Day – a day of sharing, learning and networking.

• Learn

best practices from regional corporate executives achieving global success.

Featured Keynote Speakers Global Trends to Local Decisions: Seizing the Opportunity for U.S. Manufacturing Dustin Burke, Principal, The Boston Consulting Group

• Choose

The Relationship Between Trade and Transportation

• Network

Ray LaHood, Senior Policy Advisor, DLA Piper, former U.S. Secretary of Transportation

from seven breakout sessions designed to meet your global business needs and interests. with over 500 New England business professionals.

World Trade Day Co-Chairs

Regional Governors Panel

Cheryl Merchant President/CEO, Hope Global

Changing Global Dynamics: Creating Economic Growth Hosted by Rhode Island Governor Gina Raimondo

Paul Oliveira Shareholder, Director of Tax Service, KLR REGISTER www.bryant.edu/worldtradeday or (401) 232-6407

Platinum Sponsor

Silver Sponsors

John H. Chafee Center for International Business at BRYANT UNIVERSITY

Gold Sponsors

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Prevent Pain With Good Office Ergonomics | SMALL BUSINESS

does your office make you sore? foot ergonomics only after your workstation is adjusted for correct upper body position. You can easily get a stool if the correctly positioned seat for your workstation lifts your feet too high to rest them on the floor.

In a 2013 survey by the American Osteopathic Association, 2 out of 3 office workers reported experiencing pain in the previous 6 months. The most common pain areas were the low back (63%), the neck (53 %) the shoulder (38%) and the wrist (33%).

The same workers listed the main causes for their pain, including: Sitting for long periods (64%) Hunching over a desk (61%) Sitting in an uncomfortable chair (58%) Staring at a computer monitor (46%) Using a computer mouse (38%) If you work at a desk all day, this probably sounds very familiar.

You may not think it’s a big deal that you experience back or neck pain at work, or you may think that’s “just the way it is”. But whether you are an employee looking to improve your own health or the boss looking for ways to improve workplace productivity, ignoring these pains over the long term could lead to more serious medical problems, lost work time and even disability.

With that in mind, we’ve compiled the tips offered most frequently by authorities on posture and ergonomics, to help you improve your office posture: •

Sit straight. The best sitting posture is level on both hips with back straight and shoulders relaxed. Don’t slouch sideways, hunch forward or cross your legs. Also, be sure your monitor, keyboard and other equipment are positioned so you don’t have to twist, lean or reach to use them.

•

Use a comfy chair. If your chair is uncomfortable for any reason, it can cause stress and tension that leads to pain.

Make sure your chair is comfortable to sit in for long periods and helps you stay in correct posture.

•

•

Put your monitor and keyboard at the correct height and distance. Your monitor should be about an arm’s length away, (18 to 28 inches) with the top of the screen at or just below eye level. Your keyboard should be just under your fingertips when your shoulders are relaxed, arms at your sides and elbows bent to horizontal.

•

Use a hands-free phone or headset. This prevents the neck pain that can result from constantly cradling your phone between your neck and shoulder while you type.

•

Keep wrists straight and relaxed. Avoid holding your wrists tilted up or down, or twisted when you type and mouse. Get additional support for correct position by placing keyboard and mouse wrist rests where the heel of your hands can rest when you’re not typing or mousing.

•

Get up and move! Stand up and stretch or walk around at least once every 30 minutes for a minimum of 1 or 2 minutes. This forces you to change your posture and lets your muscles move and stretch. You can get in even more movement by walking around when on the phone, or walking over to a co-worker’s desk to talk with them instead of emailing or calling them.

Following these tips for healthy office posture can help you prevent pain and more serious problems.

As a business owner/entrepreneur, Rob Levine has broad experience both with building and managing a business and with the many issues that affect RI business owners. Starting with this article, he will be a monthly contributor to RI Small Business Journal.

Rob Levine & Associates specializes in Personal Injury throughout Rhode Island, Connecticut and Massachusetts, as well as Social Security Disability and Veterans Benefits throughout the country. As “The Heavy Hitter” Rob Levine not only works hard on your case, but also believes in making a positive impact in the communities he serves. Through internal resources, education and volunteerism, Rob Levine & Associates strives to help prevent accidents, as well as raise awareness around the needs of our elderly and returning Veterans.

For more information visit www.roblevine.com , call 401.529.1222 or toll free 800-529-1222.

Rest your feet flat.

Resting your feet on the floor or a stool, with knees about level with your hips, helps support your legs and keep your hips and back aligned.

But be sure you adjust your

www.risbj.com | volume four issue five

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SMALL BUSINESS | Trends In Gas Detection Equipment

TRENDS in gas detection equipment

by John V. Carvalho III

While gas detection systems have greatly improved since we started in 1995, the core part of a gas detection system is still essentially intact. There is one improvement that will be a game-changer for everyone from facilities managers to DPW workers, firefighters to wastewater management professionals: wireless detection.

Gas detection systems with a wireless connection can report directly back to a home office or command post miles away at the first sign of trouble. So, if you have an electrical worker or DPW worker on a job underground, they can wear a wireless detection unit the size of a cell phone and transmit conditions back to headquarters (complying with OSHA regulations for “Confined Space Entry”). This gives them the option of checking gas levels, in real-time, while on the job and the security of knowing someone at headquarters has access to the same readings and can alert them to danger.

The advances in gas detection equipment have not eliminated the need for periodic maintenance and 24/7 monitoring. Simply put, all gas detection systems should be tested every 90 days (following the manufacturer’s requirements as well as compliance with all local and federal agencies) to ensure they are still correctly calibrated and responding correctly and that all of the target gases are being detected. Those tests should be done with actual gases traceable to the National Institute of Standards and Testing (NIST) to ensure accuracy and protection from liability.

Unfortunately, many building owners and facility managers feel the

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investment in a gas detection system to be sufficient and if the system doesn’t detect anything then nothing is wrong.

Unfortunately, you can’t know a gas detection system is working unless it’s tested with the appropriate gases. Since most people do not intentionally have those gases on them in a safe form to test their system, there’s no way to know if the system is actually reading gas.

By not having a routine maintenance system in place, you put the health and lives of occupants of your building at risk if your gas detection equipment is not functioning properly.

And when it comes to exposure to gases, it only takes one incident to put lives in jeopardy and open up your organization to tremendous liability. In fact, there have been fatalities in recent years at facilities where gas detection equipment failed.

The flip side of that is gas detection equipment that is oversensitive and produces false alarms.

While most ambient gases are harmless, it is not unusual for a mis-calibrated or infrequent detection system to be set off by them. This can trigger a very costly chain of events—chaos in

the immediate vicinity, emergency personnel dispatched to the scene, evacuation of staff and customers, etc.

Bottom line, a false alarm alone can cost thousands of dollars in lost business, lost man hours and the price of emergency personnel dispersed to

Trends In Gas Detection Equipment | SMALL BUSINESS

Unfortunately, you can’t know a gas detection system is working unless it’s tested with the appropriate gases.

Dealing with Deadly Gases?

Depend on Gas Detection Experts

the site—not to mention the bad publicity and lost confidence of those involved.

And with any false alarm, there is the possibility that you are taking emergency personnel away from a real emergency.

When you compare the cost of an annual maintenance plan—roughly $1000--with the thousands of dollars associated with a wrongful death or liability lawsuit, the investment in a maintenance and monitoring program makes all the sense in the world. Yet it’s a conservative estimate that perhaps only 10 percent of the buildings that have gas detection systems have an active maintenance program with testing conducted on a quarterly basis.

That’s actually a number that has increased over the past few years. Much of that has to do with insurance. With an increased focus on risk management for commercial clients, insurance companies have not only mandated gas detection equipment installed but offered incentives for maintenance and monitoring contracts with those systems.

It’s critical to keep your gas detection monitors maintained up to the manufacturer’s specifications

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That might be the best trend in gas detection equipment: more building owners choosing caution over the bottom line, and that makes perfect sense.

Installing a state-of-the-art gas detection system with regular maintenance and monitoring buys you peace of mind that you just can’t put a price tag on.

John V. Carvalho, III

is the president of Apollo Safety, Inc. Veteran-owned, Apollo Safety specializes in gas detection products and services for portable and stationary systems.

For information, please visit www.gasmonitorinstallation.com or call 800-813-5408.

Boston • Fall River, MA • Stratford, CT

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To schedule a FREE review of your gas detection! www.apollosafety.com www.risbj.com | volume four issue five

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Cash Flow Tips For Small Business Owners | SMALL BUSINESS

Cash Flow Tips

F o r

S m a l l

B u s i n e s s

by Derek Amey

Whenever I start a meeting with a client, one of the first topics I bring up is “How is your cash flow month to month?”

If a client is finding it difficult to juggle all of their financial commitments, I’ll sit with them and prepare a high level budget. This helps me to look for issues and recommend solutions. For many folks, they’d rather watch paint dry than sit down and do a family budget. However, (much like a tooth ache) if you ignore it for too long, fixing it could end up costing you more time and money than if you had just addressed it when the first sign of pain arrived.

When I speak with small business owners, cash flow is frequently a source of frustration. Vendors want to be paid yesterday and clients want to pay tomorrow. Inevitably surprises will come, and the coffers may be empty. Here are some tips that can help manage the process:

Prioritize your bills Not every bill must be paid immediately. Knowing who needs to be paid and when will help you manage your cash flow.

Obviously payroll, rent, utility and taxes all must be paid immediately or your business could suffer major ramifications.

However, all other major bills should be reviewed for payment structure and potential discounts. Suppliers and other vendors will often allow flexibility. Don’t be afraid to negotiate and leverage deals and view your key vendors as partners who can help your business succeed.

Create a rainy day fund Just as we should have an emergency reserve fund for our personal lives, businesses should also work on building up a cash reserve. Unexpected expenses are an obvious reason to build a rainy day fund, but the unexpected opportunity is just as important. A few friends of mine are in construction, and I can’t tell you how many times they were able to scoop up a used piece of equipment from a motivated seller because they had cash on hand.

O w n e r s

However, keep the reserve reasonable. In today’s low interest or non-existent interest rate environment, having too much cash means it’s not working to grow your business and should be used elsewhere.

Create a cash ffllflow forecasting template Mastering basic cash flow procedures can increase the viability and profitability of your business. The key is to create a repeatable and structured process. There are many great tools online now that will help you start and manage both your cash flow reports and forecasts. Take a minute to Google “small business cash flow template” and download a few different versions until you find one that fits your needs and your business. These templates will help you map where you are today and your expectations for your business typically over a 12 month period. Think of this as preventative medicine.

You are putting the time into doing this so you can identify potential issues and create a game plan now on how best to handle them.

Know when to hire a professional To keep costs down many small business owners start out doing their own bookkeeping, payroll and accounting themselves. The key is to know when to relinquish control and hire a professional. Ask yourself if the time, energy and stress you feel handling tasks like payroll checks, managing employees benefits and reconciling bank statements is really worth your time. Yes, these tasks need to be completed and it may seem cheaper to do it yourself, but they are taking time away from your schedule that could probably be best spent elsewhere. We’ve heard from many small business owners that it wasn’t until they hired a professional to handle some of these mundane tasks that they realized how poor a job they were doing. Know when to let tasks go, and what your true value is to your company. Sometimes keeping costs down may actually be costing you money.

Running a successful business is extremely hard work.

Analyzing cash flow maybe the last thing you want to sit down and do but done properly and with a commitment the benefits can outweigh the costs. With the right approach, many business owners may find that it actually results in costs savings and reduces errors, which should lead to less stress and more time for you to focus on running your business.

Derek Amey Managing Director and Portfolio Manager, Strategic Point Investment Advisors

The information contained in this post is not intended as investment, tax or legal advice.

StrategicPoint Investment Advisors assumes no responsibility for any action or inaction resulting from the contents herein. Derek’s opinions and comments expressed on this site are his own and may not accurately reflect those of the firm.

www.risbj.com | volume four issue five

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SECRETARY OF STATE | Nellie M. Gorbea

Growth at Quonset

Should Be Replicated Across Rhode Island

by Secretary Of State Nellie M. Gorbea

The Quonset Business Park is a remarkable example of what is possible when public and private sector leaders work together to create jobs and spur economic development. I recently had the opportunity to tour the many businesses and visit with the people working at the park, and the figures tell a compelling story. While Rhode Island’s economic indicators continue to show room for improvement, the Quonset Business Park has grown to encompass nearly 200 companies and more than 10,000 employees. This remarkable growth at Quonset Business Park needs to be replicated across our state.

In order for that to happen on a larger scale, state government needs to be seen as a partner, not an obstacle to progress. Rhode Islanders need to feel confident that their government is working for them and working well. Those principles also ring true at Quonset, where the Quonset Development Corp. has worked to provide a predictable and transparent climate for the businesses looking to grow there.

Through their uniform development guidelines, site-readiness program, and universal leasing incentives, they are showing how the public and private sector can work together to spur economic development.

As your secretary of state, I too want to engage and empower all Rhode Islanders by making government more accessible and transparent, encouraging civic pride, ensuring that elections are fair, fast and accurate, and enhancing commerce.

That’s why I am working to improve the way businesses interact with government and working to clarify and strengthen the state’s lobbying statutes to ensure transparency.

Whether you are a new entrepreneur or an established business, the Rhode Island Department of State can help you by providing information that is efficient, strategic and

I am working to improve the way businesses interact with government and working to clarify and strengthen the state’s lobbying statutes to ensure transparency.

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relevant to your needs. This begins with our Business Services Division, where all Rhode Island businesses are registered.

The Business Services Division is responsible for business and uniform commercial code filings, trademark and service mark registrations, the notary public registry, the issuance of certifications and authentications for business documents filed with our office and the First Stop Business Information Center, which provides guidance to first-time business owners.

As the official repository for business and commercial records, we maintain the records of over 65,000 registered corporate entities, 140,000 commercial liens, 4,000 trademark/service mark registrations and 21,000 notaries public commissions.

One way we currently help entrepreneurs and small businesses is through our First Stop Business Center, which is designed to help you navigate government. It provides in-person, phone-based and online support and will gladly create a personalized business information package to help your business get up and running. These packages include a custom-tailored checklist of government regulations and agencies that impact your specific business, all applicable government forms and applications along with instructions for completing them, and referrals to business development organizations that offer specialized support and expertise in your field.

There’s also a helpful online app on our website (sos.ri.gov) called QuickStart, which is available 24 hours a day and can guide you through the process by simply completing an online survey. I encourage you to visit our website as we continue to expand and improve the services we offer through the First Stop Business Center.

Whether you are a new entrepreneur or an established small business, the Department of State’s Business Services Division is here to help. You can reach us by calling (401) 222-3040, emailing us at corporations@sos.ri.gov or visiting our office at 148 West River St. Please feel free to contact me directly with any thoughts or suggestions at secretarygorbea@ sos.ri.gov or visit our website at sos.ri.gov.

Quonset Business Park is a leading driver of Rhode Island’s economy. My office is committed to ensuring that the businesses there, and throughout Rhode Island, have the tools they need to succeed. We need more job growth in this state and the only way to see that happen is to ensure that companies can develop, grow, and stay here through a predictable and transparent environment. They’ve done it at Quonset - and I’m committed to continuing to do that in my office, as well.

www.risbj.com | volume four issue five

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SMALL BUSINESS | Crowdfunding 101: A “Nuts & Bolts” Look At The Popular Phenomenon

Crowdfun A “ Nut s & Bolt s” Lo ok at

by William F. Miller, Esq.

It is not clear when the term “crowdfunding” was first used, but there is little doubt that its popularity soared on the heels of the 2012 Jump Start Our Business Startups Act (the “JOBS Act”). The JOBS Act expanded a number of provisions of federal securities laws, with the goal of making it easier for businesses to raise capital to fund growth and create jobs, in part by paving the way for increased use of the Internet as a fundraising platform. The term is now widely used by business people and investors. However, much like “hedge fund,” the term “crowdfunding” means different things to different people. This memorandum is to provide an overview of the current state of crowdfunding and perhaps dispel some misconceptions.

In general, Internet-based crowdfunding can be divided into two broad categories: (i) rewards or donation websites (e.g., Kickstarter, indiegogo, etc.) where the person contributing cash does so purely as a donation or receives only a token product or service; and (ii) websites that offer investors a true investment opportunity. On donation- or rewards-based sites, people at all income levels can make contributions to fund projects ranging from production of a film or play, development of a new software program or smartphone app, to opening a restaurant or other retail business. These sites pre-date the JOBS Act and are not regulated by federal or state securities laws because people contributing money are either making an outright donation or receiving a nominal reward (tickets to the film, a copy of the new software or smartphone app, etc.) but they do not receive any interest in the company sponsoring the project.

Prior to the JOBS Act, it was difficult to use a website to raise investment capital by offering investors stock or a promissory note of the sponsoring company because the most commonly used provisions of federal securities laws prohibited advertising and general solicitation of investors. Clearly, use of the Internet to solicit investors would violate the no general solicitation rule.

The JOBS Act amended key provisions of federal securities laws, paving the way for a number of different approaches to crowdfunding. Although the JOBS Act was passed in 2012, some of the changes have not yet taken effect. These changes require that final regulations be adopted by the Securities Exchange Commission (the “SEC”) and that has taken far longer than originally hoped.

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Crowdfunding 101: A “Nuts & Bolts” Look At The Popular Phenomenon | SMALL BUSINESS

nding 101: the Popular Phenomenon GENERAL SOLICITATION OF ACCREDITED INVESTORS

In response to the JOBS Act, the SEC has adopted Rule 506(c), which now permits private companies to use advertising and general solicitation, but only for solicitation of accredited investors. Rule 506(c) is being used by a large number of companies to raise equity or debt financing via the Internet, both directly by the companies themselves or with assistance from so-called “funding portals” (e.g., Circle Up, FlashFunders and others). Funding portals are websites that match companies looking to raise money with qualified investors. Historically, a funding portal would have required registration as a securities broker-dealer, which is a complex process. Under the JOBS Act, these funding portals may now be exempt from registration as securities broker dealers.

Although they are still required to register as funding portals with the SEC, this is a less daunting requirement.

investors, based on their income and net worth. Although registration will not be required under state securities laws, this crowdfunding exemption will require extensive pre-sale information disclosure by the company, as well as audited financial statements for larger offerings. There also will be postsale reporting obligations imposed on the company. Because of the high cost of compliance and the relatively small amount of capital that can be raised, it remains to be seen whether this approach to crowdfunding will have any practical appeal to early stage companies.

While the JOBS Act has authorized the following two forms of investment crowdfunding, neither is available yet because the SEC has not issued the necessary final regulations:

Title IV (Regulation A+): Once the SEC issues regulations, Title IV of the JOBS Act will permit private companies to raise up to $50 million per 12-month period via a general solicitation to both accredited and non-accredited investors using the Internet. This portion of the JOBS Act has been unofficially dubbed “Regulation A+” due to its similarities to the decadesold but seldom used Regulation A. Regulation A+ also faces a number of hurdles that may reduce its practical value to companies that want to raise capital via crowdfunding. First, it will require substantial pre-sale informational reporting (akin to a “mini-registration statement”) and pre-sale approval by the SEC. It will also require the company to comply with substantial ongoing reporting requirements. Perhaps most importantly, the scope of state regulation of Regulation A+ offerings is not yet clear. The JOBS Act exempts securities sold to “qualified purchasers” from state regulation and provides that the term “qualified purchaser” will be defined by final SEC regulations.

Title III of the JOBS Act: This part of the JOBS Act will permit companies to offer debt and equity securities to both accredited and non-accredited investors via the Internet using a registered broker-dealer or an approved funding portal. Once final regulations are issued, companies will be permitted to raise up to $1 million per 12 month period.

However, proposed regulations issued by the SEC in 2013 were heavily criticized by state securities regulators and were not made final. Any expanded requirement for state review of Regulation A+ offerings would probably render new Regulation A+ as expensive and impractical as existing Regulation A. New regulations are expected later this year.

Internet offerings under Rule 506(c) are particularly attractive to companies seeking investment capital because there are no maximum dollar limitations, no per-investor limits on the amount that can be invested and they are exempt from state registration. Furthermore, they do not require the company to have audited financial statements and they do not have any ongoing reporting requirements.

There are limitations on the amount that may be invested by non-accredited

William F. Miller, Esq. Partner, Pannone Lopes Devereaux & West LLC

Clearly, use of the Internet to solicit investors would violate the no general solicitation rule. www.risbj.com | volume four issue five

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Integlia & Company At The Forefront Of Economic Development & Creating Jobs | SMALL BUSINESS

Metro East Office Park Phase II

Metro East Office Park Phase III

Integlia & Company

at the Forefront of Economic Development & Creating Jobs Throughout the recession, Michael Integlia & Company remained at the forefront as a steadfast leader in development and job creation. Established in 1937 by Michael Integlia Sr., Integlia & Company is a premier builder and developer of office, commercial, and institutional spaces of class A quality in Southern New England. Michael Integlia & Company remains a family-run business with Michael Integlia Jr. as President and Michael Integlia III as the Director of New Business Development.

Even now as the economy is in recovery, Integlia & Company endures as it embarks on its latest projects, the first of which is OneMetro Center Boulevard in Warwick, this would be the fourth and final phase of the Integlia’s Metro East Office Park.

This phase of construction will create 200 to 250 construction and construction related jobs. The Warwick Beacon says Integlia & Company’s at One Metro Center is one encouraging “sign” that the recession is behind us.

Integlia & Company continued to steadily develop in Rhode Island. In 2008, what could’ve been viewed as the “worst of recent times” Integlia began construction of MetroEast Office Park with its First Phase, corporate headquarters of DiSanto Priest & Company. In 2011, Integlia constructed the Second Phase of MetroEast Office Park, corporate headquarters of Atrion Networking Corporation, MassMutual Financial and ATW’s executive offices.

In 2014, Integlia constructed Phase III of MetroEast Office Park, corporate headquarters of Coastway Community Bank.

All three completed phases of the MetroEast Office Park buildings, totaling 175,000grsf are 100% occupied. All of the

above developments and acquisitions took place during the recession, and employed hundreds of construction workers of various trades.

In GOLOCALPROV, Dan Lawlor praised Integlia & Company “for embracing ‘adaptive reuse’.” Integlia acquired the former Leviton Manufacturing property in 2013. Integlia owns three developable sites as a result of this transaction: the sites for One Metro, that will ultimately act as the “book end” to Metro East Phase I, to all travelers who utilize the airport connector road; a second site prime for mixed-use development along Kilvert St.; and the site for the planned One City Centre, which will be built on the site of the former Elizabeth Mill. This acquisition also led to the sale of 35 acres, which will be left as open space in perpetuity and is owned by a Nevada based land trust.

As reported in New England Real Estate Journal Mayor Scott Avedisian stated, “Redevelopment in the business innovation district will greatly enhance efforts to spur job creation and economic development, making the entire area a commercial, residential, and retail hub as well as a destination for residents and tourists alike. All told, the station and innovation districts offer up to 3 million s/f for redevelopment, with the potential of creating up to 3,000 new jobs.”

Visit an Integlia & Company building and its grounds and you will find an expert level of attention to detail and design.

Integlia measures success in the satisfaction of their clients and the realization, and implementation of their goals. To learn more about Michael Integlia & Company’s superior services and showcased properties please visit Integlia.com www.risbj.com | volume four issue five

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SMALL BUSINESS DIRECTORY

Local Small Business Directory BUSINESS SERVICES

DISASTER RECOVERY

The Business Develoment Company www.bdcri.com Peter Dorsey 40 Westminster Street, Suite 702 Providence, RI 401-351-3036

Lynch’s Cleaning & Restoration www.lynchsrestoration.com Shawn Lynch 25 Starline Way Cranston, RI 401-464-8937

Lyoness America (Local Loyalty Partners) www.lyoness.net/us Ernie Pitochelli 130 Darwin Street Woonsocket, RI 401-368-6911

COACHING & CONSULTING Redwood Environmental Group www.redwoodenv.com Contact: Gary Kaufman 10 Elmgrove Avenue Providence, RI 401-270-7000

PuroClean Disaster Restoration www.purocleanri.com Terri Abbruzzese 5 Minnesota Avenue Warwick, RI 401-633-5565

ENERGY Super Green Solutions www.supergreensolutions.com Robert Cagnetta 300 Quaker Lane, Box # 6 Warwick, RI 401-932-1985

FINANCE

The Growth Coach www.thegrowthcoach.com/dmarantz Daniel Marantz 33 Urso Drive Westerly, RI 401-612-4769

J.P. Matrullo Financial www.jpmatrullofinancial.com Jonathan Matrullo 10 Orms Street, Suite 410 Providence, RI 401-276-8788

COMMERCIAL REAL ESTATE

Morgan Stanley www.morganstanley.com Rick Bellows 1 Financial Plaza, 19th Floor Providence, RI 401-863-8400

Butler Realty www.butlerrealty.us Jeff Butler 655 Main Street East Greenwich, RI Scotti & Associates www.scottirealestate.com Peter Scotti 246 Hope Street Providence, RI 401-421-8888

DESIGN & MARKETING Artinium, Inc. www.artiniuminc.com Darren Marinelli 5 Division Street, Building D, 2nd Floor Warwick, RI 401-729-1997 Big Fish Results www.bigfishresults.com Tony Guarnaccia 5 Division Street Warwick, RI 401-484-8736

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The Ameriprise Financial Planning www.ameripriseadvisors.com/Eric.Coury Eric Coury 1 Citizens Plaza, S. 610 Providence, RI 401-996-7660

HEALTH & WELLNESS Aflac Allen Miller 29 Crafts Street Newton, MA 02458 617-658-1820 www.aflac.com

INFORMATION TECHNOLOGY Thrive Networks www.thrivenetworks.com Kevin Ellis 836 North Street, Building 300, S. 3201 Tewksburry, MA 978-243-1432

TIMIT Solutions, LLC www.timitsolutions.com Tim Montgomery 100 Randall Road, Unit 93 Wrentham, MA 02093 774-307-0652

INSURANCE Allstate Benefits www.allstate.com Jeff Davide 98 Hollis Avenue Warwick, RI 401-500-3748

PAYROLL Paychex www.paychex.com Andy Pachomski 501 Wampanoag Trail Riverside, RI 401-663-6677

RENTALS Ocean State Rentals www.oceanstaterental.net Jim Baldwin 530 Wellington Ave Cranston, RI 401-941-4002

SIGNS AA Thrifty Signs www.aathriftysign.com Linda Iannotti 221 Jefferson Boulevard Warwick, RI 401-738-8055

TELECOMMUNICATIONS Wireless Zone www.wirelesszone.com Jason Sorensen 76 Gate Road N. Kingstown, RI 401-886-8484

TRANSPORTATION A Airlines Express Limousine & Car Service, Inc. www.aairlineexpresslimousine.com Virginia Coulley P.O. Box 222 Saunderstown, RI 401-295-4380

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