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Three local manufacturers recognized
The manufacturing industry is alive and well here in Southwest Florida as witnessed recently at a statewide awards event. Three local companies, all members of the Southwest Regional Manufacturers Association, were recognized for their outstanding work in manufacturing at the 2022 Florida Sterling Manufacturing Business Excellence Awards in Orlando earlier this month. The SMBE Awards are given annually to Florida manufacturers who achieve high levels of performance in leadership, strategy, customer and market focus, measurement, analysis, knowledge management, workforce and operations. MY Shower Door/D3 Glass and HF Scientific (Watts Water) were finalists from Southwest Florida, while Shaw Development won the Silver Award. Several upcoming manufacturers awards programs are
currently accepting nominations. The Florida Manufacturing Employer of Choice ranks peer groups within the industry as great places to work. A survey is completed by each company’s HR department. Participants receive a valuable benchmarking analytics report based on survey results that includes best practices to support being a great place to work. Winners will be recognized at the 2022 statewide MakeMore Manufacturing Summit on Oct. 13. Florida Manufacturing Apprentice of the Year Award nominations are now open to acknowledge manufacturing apprentices who demonstrate outstanding commitment to their professional development and show how they have made a positive difference to their company. Apprentices must be enrolled in a registered manufacturing apprenticeship program.
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IONAL TRADE SUMMIT
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and Startups, of the economy visionaries fuel Southwest Florida.
Brady Photos by Christine trade to the Southof international about the importance Development offices. Buqueras talks Economic Director Carlos the Lee County first-ever stop at Port Manatee Executive during the Port’s west Florida market
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IN THE NEWS
to Dave Gammon elevated Charlotte EDO director
in the wake of Charlotte County, joinLucienne Pears former director Partners at Babcock ing Kitson and former Business Ranch, elevated and interim Recruitment Supervisor to executive director Dave Gammon Economic Developdirector of the ment Office. face in reGammon is a familiar he development as gional economic three years with his has proven in EDO. Charlotte County continue leading He is excited to like developments several existing See page 19
Florida to communities in one of four host as part of the second Lee County was from seven countries welcome companiesTrade Summit. Manatee, annual International International Trade Hub at Port Fort Lauseries visited Organized by The Business opportunity a and Tampa for one day the 2019 Global Bradenton/Sarasot derdale, Fort Myers,to 29. 26 Office, Southwest each from Aug. ReEconomic Development and the Southwest The Lee County Chamber of Commerce the event, which Florida Hispanic Association co-hosted gional Manufacturers Gulf Railway. Chile, Colombia, was sponsored Seminole from Argentina, Peru and other locales International companies Mexico, Spain, goods, apparel, artisanal El Salvador, Guatemala, fruits, coffee, food, cooking systems featured wine, snack and state-of-the-art to merchandise companies Lee County industryof founded as part summit showcases Port Manatee, during the summit. and An expo-style from seven nations Trade Hub at markets in Florida and business leaders visiting Summit. The International between link vital a International Trade advice as provides expert See page 6 the second annual in 2014, serves world. The hub TRADE throughout the
GAMMON
Privacy & Cyber Security Forum announced
& Cyber SeA special Privacy held on Friwill be at curity Forum 9 a.m. to noon day, Nov. 8, fromNews Community the Naples Daily
room. Companies will William C. Huff and insponsor the informational community.
for the teractive forum forum is for atThe goal of the clearer undera tendees to gain keep their famito standing of how businesses private. lies, wealth and page 18 FORUM See
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Hoffmann Family buys Hertz Arena, Everblades
INSIDE THIS ISSUE
The Hoffmann Family of Companies has entered into an agreement to purchase the Florida Everblades and the Hertz Arena. Plans are underway for a complete renovation of the 8,284-seat, multipurpose arena. The improvements will include enhanced skyboxes, food services and installation of a state-ofthe-art scoreboard. Hertz Arena, which opened in 1998 as Everblades Arena, hosts a variety of events including concerts, Cirque du Soleil, Disney on Ice, boxing and trade shows. The venue offers
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Area companies are building a better future — one made right here in Southwest Florida.
25 suites, two additional ice rinks, a private club and a pub, Breakaway Sports Pub. The arena is also home to the Florida Gulf Coast University Eagles club hockey team of the American Collegiate Hockey Association. “We are optimistic that all of the 330 employees will remain with the Hoffmann Family of Companies,” said Craig Brush, Florida Everblades President and General Manager, who signed a five-year contract and has a commitment from all his senior staff to remain in place. “We are thrilled to be acquired by
A specially focused monthly section exploring the SWFL commercial real estate marketplace.
IN THE NEWS
Fort Myers sixth Business Summit slated for Sept. 20
Holly Bell addresses citrus growers about the 25,000-plus uses for industrial hemp, which can now be grown legally in Florida
Cannabis chief promises rich stash for hemp growers Special to SWFBT Submitted By: Jacob Ogles, Editor
SUMMIT See page 7
When other states started authorizing farmers to grow hemp, it didn’t take long to realize there was no place to sell it. Because no structures had been put in place for processing and manufacturing plants, state officials found themselves rushing a regulatory structure through so farmers could offload their first harvests. Holly Bell, Florida’s first Director of Cannabis, plans to learn from that mistake. She said the Department of Agriculture and Consumer Services will make sure all parts of the burgeoning hemp industry can move forward as soon as new rules unroll later this fall. “When our farmers are ready for a cash flow, we want to encourage them to get going,” she said.
Applications being accepted for the 25th Blue Chip Award The 25th Annual Southwest Florida Blue Chip Community Business Award application deadline is fast approaching. The Blue Chip Community Business Award recognizes successful, small businesses in Lee, Collier or Charlotte County that have overcome adversity to achieve success. Applications must be submitted by Wednesday, Sept. 4. The independent judges select the honoree after all the applications AWARD See page 19
Bell spoke in August at the Citrus Expo and Vegetable and Specialty Crop Expo, where growers from around the region gathered to hear her discuss this new and just recently legal product to diversify their inventory. Just a few years ago, there were no legal reasons to grow cannabis in Florida. Now, medical marijuana dispensaries pop up in more shopping centers each week. Soon, farmers will grow non-narcotic hemp crops. With the 2018 federal farm bill allowing hemp to grow, a budding industry will soon emerge in Florida. The Legislature this year authorized a pilot program for growing hemp in the Sunshine State, and state officials are nearly done weeding through a stack of public suggestions.
GrowFL announced this year’s 50 Florida Companies to Watch honorees, including three from Southwest Florida. Companies to Watch is a statewide competition that identifies companies expected to see significant growth over the next several years. The GrowFL Florida Companies to Watch awards program—now in its ninth year—honors 50 select second-stage companies from throughout Florida for developing valuable products and services, creating quality jobs, enriching communities, and broadening new industries throughout Florida. Chosen from 500 growing second-stage nominations from throughout, Florida, the 50 companies named as the 2019 Florida Companies to Watch honorees generated nearly $1 billion in revenue and added over 900 jobs between 2015 and 2018. Together, the honorees project a 35 percent increase in revenue and 37 percent increase in job growth in 2019 compared to 2018. “These stand-out companies are all led by entrepreneurs, and have demonstrated their capacity and intent to grow,” said Dr. Tom O’Neal, GrowFL executive director. “They also all have critical intellectual property or a niche position that gives them a competitive edge in their markets,” he said. Local honorees include: Cottrell Title & Escrow, Collier County; Mettauer Environmental, Lee County; and VeraData, Lee County . “This list recognizes second-stage Florida companies with passionate leaders who are making a difference in growing and diversifying our economy,” said Jennifer Barrows, GrowFL Chairman of the GrowFL Advisory Board and Business Development Executive with WithumSmith+Brown, PC. Second-stage companies are those
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The Greater Fort Myers Chamber of Commerce has announced an exciting line-up for its 2019 Business Summit, set for Sept. 20. The summit, now in its sixth year, will run from 8 a.m. to 3 p.m. at the Sanibel Harbour Marriott Resort & Spa in Fort Myers. This year’s keynote address is “Communicate Your Way to Success,” by entrepreneur, business coach and international speaker Jason Evers. Evers has traveled to more than 20 countries on five continents
such a prestigious company. Our partnership with the Hertz Corporation and now this new ownership ensures that Hertz Arena will maintain our strong community presence and continue to be the number one choice for entertainment in Southwest Florida.” The team and the arena were previously owned by Peter Karmanos, founder of Compuware Corporation and prior majority owner of the Carolina Hurricanes in the National Hockey League. “Simply put, without the support of
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Estate A specially section exploringfocused monthly mercial real estate the SWFL commarketplace. IN THE NEWS Collier names Pelican Wire as ‘Business of the Month’
During the July 9 Collier County Commission Wire was named meeting, Pelican ty ‘Business of the Collier Counthe Month’ and recognized by was the a manufacturing Board for being County for over leader in Collier 40 years. Pelican Wire President Ted Bill, who received the are truly honored award, said “We Collier County to be named the Month’ for July.‘Business of the Since moving AWARD See page
Gov. DeSantis announces job growth grants
4
Gov. Ron DeSantis the Florida Departmentannounced of Economic Opportunity Florida are acceptingand Enterprise economic development project proposals for the Florida Job Growth Grant Fund. $40 million is available to fund training and public job projects that support infrastructure growth and employment in Florida. “We know the frastructure projects importance inand workforce training has on economic development,” said DeSantis. “The Florida Job Growth Grant Fund will help Florida communities ensure they GRANTS See page
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Special to SWFBT Submitted By: Noemi Y. Perez Southwest Florida tion’s business-themedstudents in The Immokalee Foundasummer camp entrepreneurial recently shared ideas their Tank event modeled and garnered awards during a Shark The four-week after the popular TV show. was a partnership Business Management Pathway Coast University’sbetween the foundation and Floridacamp Gulf developed businessInstitute for Entrepreneurship . among them: finding plans that solved problems Students common clothes on a budget; centric finances; handling studentñera; and findinggetting better sleep; planning a quincearestaurants suitable stricted diets. for people with reStudent teams gave presentations about ences, startup costs, their target audiprojected profits, other aspects of marketing plans entrepreneurial and Dr. Sandra Kauanui, FGCU enterprises at iTECH mokalee. Judges Director of Entrepreneurship for in Im- spoke during the event. Smart Companies the presentations were: Brian , Rist, The Smart Companies executive chairman; Sofia Blanno, gram allows shoppers to arrange tor of corporate intern; and Matthew Turner, Hertz The through social an app, then physically to buy, sell or swap items direcFirst place awards responsibility. central location exchange those of $500 each went in Immokalee. items at a Shop team of Neika to the Swap & MentorUs, an Exulus, Jessica app that encourages Daisy Montanez Sales, Alondra students to make and Ailynee Ramirez. Estrada, smart financial decisions, interested in dressing earned second place Aimed at students for team members of $250 each fashionably on Alex Soriano, a budget, the pro- ie Etienne, Azael Simon-Quirino Je’an Espinoza, Myrlandand Simson Devesaint.
Fort Myers Mayor
launches Diversi ty Committee
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Special to SWFBT Submitted By: Karen P. Moore, Publisher more inclusive city. Student Hailey Countryman asked her employer, Sanibel Captiva “It is never too the Mayor if he munity Bank, Comlate to give up had to FGCU’s College on diversity whom a team of advisors Education. your prejudices.” of Henry David Thoreau for guidance. Since he could rely on said, “We In a recent interview she can’t really say the answer to that question was no, we are trying to be at that moment Fort Myers Mayor derson felt inspired Hen- residents representative of our city’s Randy Henand community derson has known a team. Ndiang’ui to create just such have diversity if we Florida Gulf wanted to make Coast University on the council don’t sure the Mayor itself.” She explained was prepared for ter Ndiang’ui for professor Dr. Pe- road ahead the its 18 membersthe committee drew about 10 years and asked him, was a guest speaker and from the commu“Are in his class, “In- really able to handle the truth?” you nity, representing troduction to Diversity,” diversity project moved The ethnicity, forward. in Novemgender and sexualin race, ber. Henderson Beth Countryman, asked students Hailey’s moth- tity. “We can’t be a committee idenhe could do to what er, became make Fort Myers up of old white made involved with men and think the project, going a which led to we are a $25,000 donation to be in charge of diversity.” from DIVERSITY See page 11 Payment Plans Available • Discounted Merchandise Parking Options Discount • Presale • Private Parties & Exclusive Gifts on Hertz Arena Concerts & Family Shows Buy Any 19/20 & Get A $20 Membership Pack FORD’S GIFT & ‘BLADES TOTE CARD BAG Valid on any NEW full, voucher or select membership
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The Collier County Visitors & Convention Bureau reports recreational travel was exceptionally strong in 2021, .but as more competition re-opens, other Collier County tourism drivers get more attention.
Sun is shining on Collier County tourism Submitted by Karen P. Moore, Publisher Special to SWFBT
Collier County Visitors & Convention Bureau Executive Director Jack Wert retired in 2021 after almost 20 years—and after successfully guiding the VCB through COVID-19. Then, after working with the VCB team for almost one year, prior to Wert’s retirement, and per a position
IN THE NEWS
Local arts leaders ask for participation in impact survey
The Alliance for the Arts partnered with Americans for the Arts to launch Arts & Economic Prosperity 6 (AEP6), the sixth national study of the economic impact of the nonprofit arts and culture industry. Economic impact studies such as these expand the conversation about how many people view the arts. While
most appreciate the cultural benefit provided to our community, few realize that our local arts industry supports jobs, generates government revenue, and is a cornerstone of tourism. While attending any performance, activity, event or program on our campus, individuals may take a few moments to participate in the Audience & Attendee Survey. All answers are anonymous and help to measure the ARTS See page 12
transition plan, Paul Beirnes moved into Wert’s role. Beirnes has an impressive resume, to be sure, including a 24-year career with Visit Orlando that followed an 8-year kickoff to his career with The Walt Disney Company. But it’s what he says about what he now wants to accomplish with the Collier County VCB that got my attention. TOURISM See page 13
IMPORTANT BUSINESS NOTES Moore About Business Kick off your business week with “Moore About Business”! Tune in to SWFL PBS and National Public Radio (NPR) affiliate, WGCU radio at 90.1 FM, during the 8-9 a.m. Monday rush hour* to hear SWFBT founder, owner and publisher Karen P. Moore share information and insights for and about our local business community. Listen to past segments at https://news.wgcu.org/ karen-moore-1.*After a Monday holi-
day, the segment airs Tuesday morning. Paycheck Protection Program Loan Taxation To receive loan forgiveness so you will not be taxed on the loan, you must complete the simple application and receive approval. Contact your PPP lender ASAP for more info. SWFBT News Updates To get current business news throughout the business day, visit www.swfloridabusinesstoday.com.
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TECHNOLOGY
Arthrex partners with Paradise Coast Sports Complex
Paradise Coast Sports Complex, under new management by Sports Facilities Companies, entered into a partnership with Arthrex with the aim to deliver best-in-class recreational opportunities to Collier County residents and visitors who choose the Paradise Coast. Arthrex’s mission statement – “Making People Better” – is suited to Paradise Coast Sports Complex. The state-of-the-art, 160-acre sports facility was purpose-built by Collier County in 2019 to both serve Southwest Florida residents and attract athletes and teams to see all that the area has to offer. “We are very pleased to have a community partner like Arthrex join us at Paradise Coast Sports Complex,” said PCSC’s Jeff Walters, who directs business development at the complex. “Our partners are an important resource that enable us to provide community events in the sports and cultural arenas.” The three-year partnership between Arthrex and Paradise Coast Sports Complex includes various multimedia elements tied to the Naples United soccer organization, the FHSAA boys and girls lacrosse state championships and selected other events scheduled to begin in the fall and winter of 2022. “We are delighted to partner with Arthrex at Paradise Coast Sports Complex,” said PCSC General Manager Adrian Moses. “Both the organization and the Complex have so much to offer the residents of Collier County and are excited at the opportunities that this partnership will allow us to share.” “As a leader in sports medicine innovation, we are pleased to partner with Paradise Coast Sports Complex,” said Senior Corporate Engagement Specialist Meg Hardt. “We look forward to utilizing this platform to showcase employment opportunities and share more about how Arthrex is making people better in our community and around the world.”
JULY 2022
Fire & Rice wins business of the year Paella catering franchisor Fire & Rice was named SWFL Inc.’s 2022 Veteran-Owned Business of the Year at the INCredible Awards Luncheon at the Hyatt Regency Coconut Point in Bonita Springs. This honor recognizes a veteran-owned organization that demonstrated strong business performance and exemplifies significant contributions in Lee, Collier or Charlotte counties. This was the inaugural presentation of the VeteranOwned Business of the Year Award by SWFL Inc., the regional chamber of commerce serving Southwest Florida. “Credit goes to the team members at Fire & Rice who are so passionate about creating exceptional catered experiences for our clients,” said Chef Paul Schmidgall, the founder of Fire & Rice. “We’re thrilled and grateful to have been selected for this award and pleased that veterans are recognized for entrepreneurial endeavors.” Fire & Rice, is a Naples-based catering company and franchisor specializing in preparing paella and tapas selections for corporate events, private parties, family reunions, farmers’ markets, festivals and other social gatherings. Fire & Rice chefs prepare the Spanish dish of rice, saffron, seafood and meats in a large shallow pan over an open flame using traditional ingredients and methods. Chefs arrive with all the equipment and utensils, preparing the meal in front of the guests. Entrepreneurs who buy a Fire & Rice franchise get everything they need to start their own business. A veteran of the U.S. Air Force and the First Gulf War, Chef Paul Schmidgall discovered the secrets of making paella when he was stationed overseas as a young airman. When he returned to the U.S., he started Fire & Rice with just $500, two pans, one burner and one stand following an eight-year career as a personal chef in Naples. He tested the paella at a local farmer’s market in 2010 and formed the company in 2011 after
Chef Paul Schmidgall started Fire & Rice with just $500, two pans, one burner and one stand following an eight-year career as a personal chef in Naples. Don’t forget to post your in-person and virtual events on our B2B events calendar at www.swfloridabusinesstoday.com/calendar enthusiastic crowds demanded more. The company has franchises/locations in Fort Myers and Sarasota as well as in Michigan, Minnesota and South Carolina. A big part of Fire & Rice’s growth has resulted from generosity to the community. Chef Paul donates 30 to 40 paella parties a year to nonprofits, raising about $30,000 annually for charitable organizations in the Naples area. And instead of charging his franchisees a marketing fee, Chef Paul requires that they spend 5% of their sales on their own communities.
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How important is cryptocurrency to your business? Submitted by Karen P. Moore, Publisher Special to SWFBT
I attended a comprehensive presentation in June about cryptocurrency, presented by the Above Board Chamber. The featured speakers were Jessica Washington, vice president of the Federal Reserve and a payment risk expert, and Kelly Werder, instructor for the Daveler Kauanui School of Entrepreneurship at Florida Gulf Coast University. They explained blockchain, cryptocurrency and its economic impact today and in the future. What are blockchains and how do they operate? Blockchains, according to Washington, are distributed databases whose new records are appended as blocks to the existing database. The blocks are linked in such a way that the database is highly resistant to tampering. They are also censorship-resistant. There are two main types. Public permissionless examples include Bitcoin and Ethereum. In principle, according to Werder, anyone can write to the blockchain based on its consensus protocol/rules—and anyone can read the entire blockchain. Typically, a smaller group develops and recommends protocol changes with varying mechanisms, and the blockchain’s community members vote on whether or not to accept the changes. The first blockchain was Automated Clearing House, or ACH, Washington shared. Cryptocurrency can base rules on blockchain. Blockchain is not just for the movement of money; it can also be utilized for the movement of information.
“In the case, for instance, of a natural disaster like a hurricane, cash is still the best thing to have on hand because its system never goes down. So don’t be concerned that cash will ever become obsolete.”
— Jessica Washington, Vice President of the Federal Reserve The second type of blockchains are private, permissioned blockchains typically organized by individual firms or industry consortiums which controls the protocols/rules. A control group grants permission to write to the blockchain—and assumes the block-writers are honest. Only approved entities can read the blockchain, perhaps only specific parts. What is the purpose of Bitcoin? According to Washington, Satoshi Nakamoto initially created it to be a “peer-to-peer” payments system with no third party (i.e. financial institutions) while providing anonymity. The problem with third parties is “completely nonreversible transactions are not really possible.” The solution Bitcoin provided was to make transactions computationally impractical to reverse. It was also created to solve any “double spending” problem. Blocks are written by “miners” who solve a cryptographic problem, Washington noted, one difficult to solve but for which it is easy to verify the solution. Although there are “kinks” in the cryptocurrency system, Werder said there are “kinks” with all currency systems. For cryptocurrency, there is no central verification of the provided solutions (the
Flowing
exact “third party” situation cryptocurrency was created to eliminate). What are the strengths and weaknesses of Bitcoin? Werder explained Bitcoin is highly tamperresistant, but any one miner must control sufficient computing power over other miners. Additionally, the rate of Bitcoin creation and the total number of Bitcoins is limited by the protocol. Moreover, Bitcoin blockchain is too slow and costly for most transactions because there is limited throughput and a long delay before you can be confident any transaction is final. While Bitcoin may be touted as completely secure, Werder said it is not. There have been cryptocurrency attacks and there is potential for countries to attack the system. To lessen the chance of this happening, protocols have been changed in the past to drop part of the blockchain. Because it is relatively easily to create a cryptocurrency, there are currently 13,000 forms of it in the marketplace. Finally, demand for Bitcoin is currently largely speculative resulting in wide swings in demand and value. CRYPTO See page 6
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JULY 2022
Immokalee Foundation accepting applications for Career Pathways The Immokalee Foundation is accepting applications from middle school students for its Career Pathways program that offers career exploration, technical, college and university exposure, homework assistance and scholarship opportunities. Students entering sixth, seventh and eighth grades at Immokalee Middle School are invited to apply in person or to pick up printed applications at The Immokalee Foundation’s program office located on Roberts Avenue West in Immokalee. Applications are due by July 8. After completing the application, selected students will be contacted for an interview. Middle school students chosen to participate in The Immokalee Foundation’s Career Pathways program will be notified in mid-August. The Immokalee Foundation’s Career Pathways program launched nearly three years ago and builds on the success of the Foundation’s after-school and summer college-preparatory and certification programs. Through extensive collaboration with local middle and high schools, industry professionals, and higher education institutions, The Immokalee Foundation developed the Career Pathways program—a professional development and career model that prepares students for professional careers in high-demand jobs throughout Southwest Florida. ®
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Sixth-grade students from The Immokalee Foundation’s Middle School Program learning about animals at the Clinic for the Rehabilitation of Wildlife (CROW) in Sanibel. “The career pathways program transforms the lives of our students through career exploration and handson career learning, which ultimately leads to a well-paying professional career,” said Amber Barr, program services director at The Immokalee Foundation. “Each student embarks on their own journey and The Immokalee Foundation is there to provide them with support and guidance to discover their passions and learn about all the possibilities for their futures.” The in-person middle school pro-
gram is held after school from 3:45 to 5 p.m. Mondays, Tuesdays and Wednesdays at Immokalee Middle School from September through April. Students explore a broad range of careers in four pathways: Business Management & Entrepreneurship, Education & Human Services, Engineering & Construction Management, and Healthcare. The program includes career panels, field trips, workshops and career interest and aptitude assessments. Rising seventh and eighth grade students also participate in a four-week
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summer STEM (Science, Technology, Engineering, and Math) Academy in partnership with Florida Gulf Coast University. In order to help solidify the importance of education and create a community of support for each student, the Foundation also helps educate student’s parents and guardians about what to expect. Throughout each school year, students’ parents learn about the professional pathways available—including information about the demand for certain jobs, the training required, and the average pay—to help forge the partnership between the family and the Foundation that will help their children excel. “Our programs receive 100% support from our student’s parents,” said Noemi Y. Perez, president and CEO of The Immokalee Foundation. “Our goal is to create a nurturing and supportive environment for all our students. Parental participation is crucial to creating a great network of support—and our parents are the best.” The program is helping students find and pursue their passions and has seen marked success; 100% of Immokalee Foundation students graduate from high school, 100% have a postsecondary plan for a professional career, and 92% go on to graduate with an advanced postsecondary certificate or degree.
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Gov. Ron DeSantis announced Southwest Florida’s labor force increased by 21,858 over the year. The Fort Myers area labor force in May 2022 grew 14,627 over the year, a 4.1% increase, and the Naples area labor force increased by 7,231 over the year, a 4% increase. The Fort Myers area private sector employment grew by 12,100 jobs over the year, an increase of 5.1%. The industries gaining the most jobs over the year were leisure and hospitality, increasing by 2,700 jobs; trade, transportation and utilities, increasing by 2,600 jobs; and professional and business services, increasing by 2,100 jobs. The unemployment rate in the Fort Myers area was 2.4% in May 2022, down from 4.2% reported in May 2021. The Naples area private sector employment increased by 6,500 jobs over the year, an increase of 4.6%. The industry gaining the most jobs over the year was leisure and hospitality, increasing by 1,600 jobs. The unemployment rate in the Naples area was 2.1% in May 2022, down from 3.5% reported in May 2021. In May 2022, Florida’s unemployment rate decreased by 1.9 percentage points over the year to 3%, and continues to remain below the national rate, which is currently 3.6%. Florida’s unemployment rate has remained below the national rate for 18 consecutive months and has declined or held steady for 22 consecutive months. The state’s total private sector employment increased by 459,500 (up 5.9%) over the year in May 2022, 0.8 percentage point faster than the national growth rate of 5.1%. Florida’s overthe-year private sector job growth has also exceeded the nation’s for 14 consecutive months since April 2021. Data in the month of May continues to indicate there are many job opportunities available for Floridians throughout the state, with more than 499,000 jobs posted online.
JULY 2022
Southwest Florida BUSINESS TODAY ®
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TECHNOLOGY
FSW program to grow workforce to help combat cyber threats
Our daily lives have become entwined with technology devices. We have smart phones, smart cars, smart appliances. We use voice activation devices to play our music, turn on our lights and adjust our air conditioning systems. We don’t often think about all the mayhem that could happen in our life if just one of these things is compromised or hacked. If we take this analogy into business, the consequences are even more profound. We provide a myriad of personal data to the businesses we frequent, and those same businesses are under constant attack from people whose main goal is to steal that information and use it for their own purposes. This is why there is such a great need for cybersecurity professionals. They act as both defense and offense. On defense, they identify incoming threats, contain and remove that threat, and contribute to the registry of lessons learned. On offense, cyber teams run simulated attacks to determine a system’s vulnerabilities. This provides important data to the defense team so that they can shore up and further protect their system. Because of the immense number of hackers and
FSAWWA announces Model Water Tower competition winner
The Florida Section of the American Water Works Association Region V announced the winners of the 2022 Annual Model Water Tower Competition, which provides rewarding STEM learning opportunities to elementary, middle and high school students. Students were asked to design a functioning water tower and work through design challenges just like water professionals do in the real world. Cash prizes were given to the top winning teams from elementary, middle and high school. This event was held at the Emergent Technologies Institute at Florida Gulf Coast University in Fort Myers on April 9. The first-place winners for the 2022 competition were: • The Immokalee Foundation, Team: Red is Sus (High School) • Babcock Neighborhood School, Team: BNS Middle School (Middle School) • Babcock Neighborhood School, Team: Old Time Water Tower (Elementary School) The 2022 Model Water Tower Competition brought together students and teachers from a three-county region (Collier, Hendry and Lee counties). The objective of the yearly competition is to make participants aware of the importance of reliable drinking water and the rewarding opportunities available in the water profession. Model water towers were of any design and constructed from any materials. The best model water towers were selected based on four criteria, including structural efficiency, hydraulic efficiency, cost efficiency and design ingenuity.
threats, it is important to train cyber professionals. Florida SouthWestern State College will be part of this training beginning this fall when the college begins its new Associate in Science degree in Cybersecurity Operations. This degree focuses on defense techniques and will increase the skill level of students who want to have a career in cybersecurity. Students will receive hands-on BY MARY training and sit for industry certiMYERS fications that can be used to demGuest Columnist onstrate competency. According to the Bureau of Labor Statistics, the cybersecurity industry is expected to grow 33% between 2020 and 2030, and Cyberseek.org reports there are currently approximately 21,000 open cybersecurity jobs in Florida with the total current employed workforce at 47,800. Programs designed for the working professional will also be developed at FSW to assist in growing a
body of highly-trained cyber experts. FSW’s Cybersecurity program is being supported through a generous gift from Brian and Kim Rist and the Rist Family Foundation. The state of Florida has also committed $6 million to renovate FSW’s business and technology building into a state-of-the-art cyber facility that will be named the Rist Cyber Institute. Our mission states that “Florida SouthWestern State College will be the catalyst for innovative education, which provides accessible pathways that prepare students to be enlightened and productive citizens.” Our new cyber program does just that. It is an exciting time to be a part of FSW as we build new programs and enhance our current programs to support the Southwest Florida workforce. To learn more about FSW’s Associate in Science degree in Cybersecurity Operations program, visit www.fsw.edu/sobt. Dr. Mary Myers is the dean of FSW’s School of Business and Technology. Contact her at mary.myers@ fsw.edu or (239) 489-9405.
Condo safety measure passes Legislature On the eve of the one-year anniversary of the Surfside building collapse, the Florida Legislature passed a bill that will help ensure Florida never experiences another similar tragedy. The Florida House of Representatives passed SB 4, which calls for periodic structural inspections or post-occupancy whole building safety inspections of multi-family buildings, sending the measure to Gov. Ron DeSantis to sign into law. Florida’s engineering community, led by the Florida Engineering Society and American Council of Engineering Companies of Florida, took this tragedy as a personal responsibility to help provide expertise and guidance by recommending stronger structural and building safety measures. Professionals from the Florida Structural Engineers Association, the Florida Section of the American Society of Civil Engineers, the International Concrete Repair Institute, the Building Officials Association of Florida, and the Florida Association of the American Institute of Architects, joined with FES and ACEC Florida in developing, and providing lawmakers with Surfside Working Group’s Florida Building Professionals Recommendations. “The importance of this legislation cannot be understated,” said Allen Douglas, executive director of Florida Engineering Society and American Council of Engineering Companies of Florida. “The periodic inspections of condos will help ensure that all Floridians can rest at night knowing that their building, particularly older condos, are structurally sound. This legislation is good for Floridians, and good for Florida.” SB 4 provides for periodic structural inspections or post-occupancy whole building safety inspections of multi-family buildings, including: • Inspections for condos that are three stories or
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taller, and within three miles of the coast, would be required when they reach 25 years of age, and every 10 years thereafter. • Inspections for condo buildings that are three stories or taller and beyond three miles of the coast would be required when it reaches 30 years of age, and every 10 years thereafter. SB 4 was presented to Gov. Ron DeSantis, who signed the law. Currently, there are about 2 million people living in more than 912,000 condominium units that are 30 years or older. Of the 1.5 million condo units in Florida, another 131,773 are 20-30 years old, and more than 105,000 condo units are more than 50 years old. However, the majority of communities in Florida do not require periodic structural inspections or post-occupancy whole building safety inspections of multi-family buildings to ensure they are safe to live in and not in danger of collapsing. SB 4 largely mirrors stronger structural and building safety measures outlined by the Surfside Working Group’s Florida Building Professionals Recommendations. By a margin of greater than 4 to 1, a MasonDixon Florida Poll conducted February 7-10 shows voters support implementing building safety measures by greater than 4 to 1. In fact, 86% of Florida voters support periodic inspections, and the support crosses all regions of Florida, as well as party registration, race and ethnicity, age grouping and gender. “These results demonstrate the high level of concern that Floridians have regarding the safety of high-rise construction and their overwhelming support for expanding inspection requirements across the state,” said Brad Coker, CEO and managing director of Mason-Dixon Polling & Strategy.
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Southwest Florida BUSINESS TODAY ®
JULY 2022
Federal Reserve makes big interest move to tackle inflation
In response to persistently high inflation that reached a 40-year high in May, the Federal Reserve raised the federal funds rate by 75 basis points to a range of 1.5% to 1.75%. This was the biggest rate hike since 1994. The Fed raised its outlook for core inflation (Core PCE), which excludes food and energy, to 4.3% and lowered its GDP growth forecast to 1.7%. With elevated inflation expected to persist, the Fed likely will continue to focus on easing price pressures, with the potential for increases of at least 50 bps at its next two meetings in July and September. The Fed will reduce its $8.9 trillion balance sheet by $47.5 billion per month beginning this month. The reduction in Treasury securities, agency debt and agency mortgage-backed securities will increase to $95 billion per month in September. CBRE expects economic activity will slow but that a recession is unlikely this year. Amid slower growth and high inflation, CBRE forecasts the federal funds rate will peak at 3.5% in 2023. Volatility in the credit markets is causing issues for investors, but activity in the commercial real estate markets has remained resilient as sellers expedite dispositions. However, we expect higher rates
and slower growth will weigh on activity as the year goes on. As of last week, financial markets largely anticipated only a 50-bp increase. This changed when the May Consumer Price Index came in above expectations at 8.6%, causing the Fed to take more aggressive action to combat rising prices. Additionally, the Fed affirmed plans to shrink its $8.9-trillion BY RICHARD balance sheet. Beginning this BARKHAM month, the Fed will reduce its Guest Columnist holdings of Treasury securities, agency debt and agency mortgage-backed securities by $47.5 billion per month. The reduction will increase to $95 billion per month beginning in September. This “quantitative tightening” process will further decrease liquidity in financial markets and contribute to increased volatility. The Bottom Line The strong U.S. labor market makes taming inflation the Federal Reserve’s top priority. CBRE
TECHNOLOGY Survive in surveillance economy
If you’re like me, you’re concerned about your privacy. Every day we are learning more about how companies are harvesting our information for profit. It’s not only social media companies; it’s mobile phone companies, internet service providers and makers of TVs and other smart devices. The buying and selling of information was known as the data aggregation industry. Today, it’s referred to as surveillance economy. Kinda makes you want to ditch your devices and go off grid. There’s another alternative. Over the past weeks, we’ve been building up a new site - Privacy-Mentor.com - with the purpose of helping people like you reclaim your privacy, while also minimizing the risks of identity theft, fraud, and cyber threats. The website is an extension of my podcast – Privacy Mentor (available at Privacy-Mentor.com/podcast and where you listen to podcasts). I wanted to give you a sneak peak of the website first, before the official launch. Check out the website and let me know what you think.
• Do you like the design and layout? • Is it easy to navigate? • Is there anything you’d suggest we change or add? Your feedback is important to me. I’d be grateful BY CARRIE if you could take KERSKIE a few minutes to Guest Columnist check out the website and share with me your honest opinion. Carrie Kerskie, a nationally recognized identity theft and privacy expert located in Southwest Florida, founded the Kerskie Group in 2001, a private investigation agency dedicated to helping identity theft victims to recover effectively and efficiently. She is also the author of “Your Public Identity: Because Nothing is Private Anymore.” Contact her at ck@kerskie.com .
expects the Fed will increase interest rates by at least 50 bps at each of the next two FOMC meetings in July and September, putting the federal funds target range to between 2.75% and 3% by the end of the year. Higher interest rates should cool the extraordinary demand that has fueled inflation amid supply disruptions. While a recession does not appear imminent in the near term, risks of one—particularly in 2023—are building. Lower economic growth should still support continued strong commercial real estate fundamentals this year. Tightening in credit markets will continue to drive adjustment in the commercial real estate investment markets in the near term. Amid this uncertain and dynamic environment, investment market performance will be uneven with investors favoring high-quality assets in liquid or high-performing markets. We anticipate this to be the case across property types as investors look to lower risk. Richard Barkham is the global chief economist and head of Americas research of CBRE Americas and Global Research. Contact him at (617) 912-5215 or richard.barkham@cbre.com.
CRYPTO PAGE 3 Clearly there are many facets to cryptocurrencies. What are Stablecoins? Werder explained these are a cryptocurrency designed to maintain a stable value relative to one or more national currencies. They are growing in both number and popularity. Stablecoins were created to help deal with the volatility of free-floating cryptocurrencies. They also provide a convenient place to park funds between investments in other cryptoassets. What is CBDC? Central bank digital currencies are digital tokens, similar to cryptocurrency, but are issued by a central bank (like the one created in 2020 by JPMorgan, a worldwide digital currency for internal customer use.) They are pegged to the value of that central bank’s fiat currency. Many countries are developing CBDCs. Some even implemented them. “There is an appetite on the Hill to start a CBDC in order to stay competitive,” Washington said. “It could have several applications, but there are still concerns like cross-border transactions. “There’s also the very important question to answer: who’s gonna run
it (the CBDC)?” What were my biggest takeaways? Cryptocurrency will never replace our present legacy currency systems, cash and ACH, but it offers an excellent option for certain types of complex real estate and business transactions. “With the creation of smart contracts, blockchain is a disruptive technology,” Werder noted. “We are already seeing disruption and adaptation occurring in the insurance and on the other end, the arts and entertainment, industries.” According to Washington, paper checks and everything electronic are already converted to ACH. Cash is cash—with no intermediary. “In the case, for instance, of a natural disaster like a hurricane, cash is still the best thing to have on hand because its system never goes down. So don’t be concerned that cash will ever become obsolete.” Moving forward with your business and how it should view the adaptation of cryptocurrency, speakers advised considering adding Bitcoin as a payment option for transactions because generations now growing up will see Bitcoin as part of their currency choices.
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Tacos & Tequila Cantina’s newest location opens at Founders Square
Management and sales team members at Rice Insulation & Glass, a LeeCounty-based building materials supplier, will move into the 35,000-squarefoot warehouse and office space this month.
Seagate completes Rice facility
Seagate Development Group completed a design-build facility for the first tenant in the 40-acre, Seagate-owned, Class-A business park at Alico Trade Center, located between Three Oaks Parkway and Oriole Road just north of Alico Road at I-75 in Fort Myers. Rice Insulation & Glass, a Lee-Countybased building materials supplier, management and sales team members will move into the 35,000-square-foot warehouse and office space this month. The 32,000-square-foot warehouse with four high-dock and four gradelevel doors will store insulation, glass, shower door and shelving materials. The 3,000-square-foot office space includes workstations and offices. The freestanding building also accommodates parking for up to 100 vehicles.
Seagate celebrated the completion of the facility over lunch and a tour of the facility with their extended teams. “There will be many single-tenant office, flex and industrial buildings in Alico Trade Center over the next few years, but Rice Insulation & Glass will always be the cornerstone of the business park. Their team saw the potential right away, and we couldn’t be more pleased to deliver,” said Matt Price, CEO and partner of Seagate Development Group. “With this site, we are improving efficiencies without the typical barriers created in a multi-tenant environment – something that business owners so desperately need in today’s economic climate and something that we can provide as a developer and design-builder with a history of positive relationships.”
Tacos & Tequila Cantina, a popular Tex-Mex restaurant with a funky eclectic vibe, has opened the doors to its newest location at The Pointe at Founders Square in Naples. The restaurant is open 11 a.m. to 11 p.m. daily on Founders Square Drive in Naples. Tacos & Tequila Cantina’s fourth location offers the same fresh, handcrafted food, specialty margaritas and an exciting atmosphere the restaurant is known for locally. An expansive outdoor seating area is perfect for enjoying tacos and margaritas alfresco both during the day and into the evening. Occasional live music will serve as the perfect pairing to the vibrant nightlife. Each Tacos & Tequila Cantina is adorned with décor from local artists. “I am incredibly proud to introduce another Tacos & Tequila Cantina to the community,” said Kelly Musico, founder of Tacos & Tequila Cantina. “Our employees and patrons are our family, and we are so excited to welcome them to our newest location.” The restaurant is continuing to expand its team at the new location and is currently hiring for a variety of front- and back-of-house positions, with a particular focus on recruiting line cooks. Newly hired line cooks have an opportunity to win a culinary insti-
Tacos & Tequila Cantina has opened the doors to its newest location at The Pointe at Founders Square in Naples. tute scholarship valued at $30,000, courtesy of Tacos & Tequila Cantina. Scholarship candidates must meet the established criteria, which includes completing 120 days of employment with a minimum of 35 hours per week. “I want to encourage and demonstrate to today’s workforce that you absolutely can make a rewarding career in the restaurant industry,” said Musico. “Restaurant employees are the backbone to this business, and I am committed to investing in them.”
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A mix of studios, one and two bedrooms, several of which offer additional dens.
ENN LUTHRINGER, CCIM Partner
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Southwest Florida BUSINESS TODAY ®
JULY 2022 JULY 2022
Southwest Florida BUSINESS TODAY ®
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COMMERCIAL REAL ESTATE MARKET COMMERCIAL REAL ESTATE MARKET A look at commercial real estate trends & topics in Southwest Florida
A look at commercial real estate trends & topics in Southwest Florida
RON WELEBNY, CCIM
CCIM
Lee, Collier, Charlotte, Hendry & DeSoto Counties
Qualifying Broker/ Managing Director Licensed Real Estate Instructor Director Royal Palm Coast Realtor Association Director, CCIM-SWFL District Past President Commercial Investment Professionals of Southwest Florida Past President SWFL Commercial Alliance Vice-Chair Laguna Estates CDD
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We Care About SWFL Commercial Realtors
MICHAEL J. FRYE, CCIM
Lee, Collier & Charlotte Counties
If you are a CCIM-SWFL Chapter member, as a benefit, you are eligible to participate in this section. Contact 2021 CCIM-SWFL President Artem Nashman for details at anashman@midlandtrust.com 2019 CCIM-SWFL President Ron Struthers says: “This ad got me listings. It works!”
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A look at commercial real estate trends & topics in Southwest Florida
Choose the right commercial professional for you Why use a CCIM?
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Lee, Collier, Charlotte, Hendry & Glades Counties Larson has over 39 years of diversified experience in the SWFL market. She is a Certified International Property Specialist. 2018 Florida CCIM Chapter Southwest District President.
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RANDY KRISE, CCIM Lee, Collier & Charlotte Counties Broker/owner of Krise Commercial Group and 2016 Florida CCIM Regional Vice President and Institute Board Member.
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There are countless benefits to working with a CCIM. Commercial real estate investment requires the counsel of a qualified professional. A Certified Commercial Investment Member provides clients with the assurance that every decision will be made in the best interest of their investment objectives. When assembling a commercial real estate investment team, start with a CCIM.
CREDIBILITY
CCIM is the most prestigious designation commercial real estate professionals can achieve within the industry. Graduate-level education, coupled with industry-leading technology tools, practical proven experience, and in-depth knowledge of their local markets, gives CCIMs the ability and the credibility to conduct business confidently and successfully. By partnering with a CCIM, you effectively utilize the top-level, most reliable performers in the industry: with an average of 19 years of experience, 70% of CCIM members hold executive-level positions and 90% of members refer clients to other business services. When you use a CCIM, you choose the most credible professional in the business.
eas to small cities and towns. A truly global network, CCIMs are a powerful force in markets large and small. When you use a CCIM, you choose a trusted community of real estate professionals that are consistently sought for their dependability, intelligence, success and confidence.
INTEGRITY
to close thousands of transactions annually, representing more than $200 billion in value. But closing transactions is only part of what CCIMs can do. In addition to holding dealmaking occupations in every property sector, CCIMs are also found in’ leasing, asset management, development, lending, financing, property management, site selection and corporate real estate positions. So, whatever assistance your real estate project requires, a CCIM can help you achieve a better result. In fact, only 6 percent of all commercial real estate practitioners hold the elite CCIM designation, which reflects not only the caliber of the program, but why it is one of the most respected designations in the industry. When you use a CCIM, you choose a professional who produces measurable results.
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CCIM designees are bound to the strictest ethical guidelines and standards of practice in the industry today. In addition, each CCIM has successfully completed a graduate level program comprised of 160 hours of education. If you ask around the industry, you’ll learn that companies and other real estate professionals are more likely to seek out experts who possess the CCIM designation, as they know CCIM stands for trust, knowledge and reliability. When you The CCIM designation is conferred by the ChicagoCOMMUNITY based CCIM Institute, a commercial real estate affiliToday there are CCIMs in every state, across Cana- use a CCIM, you choose experts with integrity. ate of the National Association of REALTORS. Learn da and Mexico, and in more than 30 countries around more about the value of working with a CCIM at the world. Domestically, the network encompasses MEASUREMENT Overall, CCIM’s global network enables members www.flccim.com/districts/southwest-district. more than 1,000 markets, from large metropolitan ar-
About Southwest Florida CCIM District
The Southwest Florida CCIM District is a chapter of the CCIM Institute, Commercial Real Estate’s Global Standard for Professional Development. The CCIM Institute was established in 1954 to give practitioners of Commercial Real Estate the valuable opportunity to further their business practices through focused education and networking opportunities. Today, with the addition of advanced technology resources, CCIM is the Global leader in Commercial and Investment Real Estate education and services. The Certified Commercial Investment Member (CCIM) designation is recognized as the hallmark of professional competency. Belonging to CCIM means being part of an ethical and knowledgeable network that fosters lasting relationships based on mutual respect.
LANE BOY, CCIM
Puzzled over how to keep up with changes in Southwest Florida’s Business Market?
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ENN LUTHRINGER, CCIM Lee, Collier & Charlotte Counties A partner with CRE Consultants and 15-year commercial real estate veteran, he specializes in the medical and professional office market.
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that SWFBT highlights:
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Page 10
Southwest Florida BUSINESS TODAY ®
JULY 2022
GUEST COMMENTARY
Without the ability to provide water utilities, why have a city? Political jurisdictions are made to serve the people within those jurisdictions. In pioneer days, there was no law other than God’s. There were no government services - and there were no taxes. We the people determined the need to create political jurisdiction. As a result, America now has federal, state, county, city and various other municipal governments, for example school boards and fire districts. While jurisdictions as a way of governing our country have proven in many ways to be beneficial, someone has to pay for this societal structure. Enter more taxes. The need to support federal, county, city and even municipal jurisdictions is why we pay taxes at every level. The one that is closest to home, and impacts us daily, is county and/or city. So why do we do this? Services We pay for and rightfully expect the delivery of certain services for our hard-earned tax dollars that support the jurisdictions we live in, work in and raise our children in. Services that protect and keep our communities growing and prospering. Services that foresee and prepare us for the future. The most important service is safety. These services include police, courts and jails. Others services that protect our lifestyle and quality of life include roads, water, sewer, schools, health and land uses along with building
standards. As a developer in this community, it is disappointing that the City of Fort Myers has dropped the ball on one of their most important and critical responsibilities entrusted to them by their residents.
Supplying clean water. Last last year, those of us in the development industry started hearing rumblings about low water BY RANDY pressure. As it turns out, the probKRISE lem is water supply, a situation that engineers and other experts clearly understand doesn’t happen overnight. It started years ago, when those in charge of this critical division of city government overlooked a potentially looming crisis. Consequently, they didn’t do enough long-range planning, which would have averted this shortage of water. It’s not like the city has suddenly experienced dramatic growth. It’s been going on for the last seven years. Who in planning dropped the ball and let this situation become an emergency? Who is accountable? Millions of dollars and jobs are at stake in the private sector if a quick solution isn’t implemented soon. I applaud the efforts of Mayor Kevin Anderson, who
grasps the urgency of this situation for the city and has made it his top priority. In the meantime, we have many projects stalled. Projects that are committed, with millions of dollars spent, that can’t get permitted until the city resolves this self-imposed problem. The snowball is rolling. Lenders are apprehensive because loans are committed. If projects that are under construction are delayed because of getting water service to the completed project, all other projects will halt. What’s the solution? New wells have been drilled and are being drilled by the city. Plans to increase the size of the water treatment plant are on the fast track. A new plant is on the drawing board. Will this be enough and soon enough to keep development going? Now we can only watch and support our leaders. We can’t undo what’s been done but we can rally as a city and get these water projects completed. Water is a basic service of government. When basic services cannot be adequately provided, the need for the jurisdictional structure comes into question. Growth has its challenges. We as citizens must be vigilant and consistently assess our government and those elected leaders who serve us. Randy Krise is the Broker/Owner of Krise Commercial Group and can be reached at (239) 633-8672 or randy@krisecg.com.
Southwest Florida makes ideal place for business headquarters Part 2 of 2 While the Southwest Florida economy has historically been driven by tourism and retirement living, the national shutdowns from the pandemic highlighted Florida’s resilience. Florida’s national reputation as a state who welcomes and advocates for businesses has long attracted entrepreneurs, innovators and industry leaders. Favorable tax laws for individuals and businesses are a big reason the News-Press reported in 2019 that three of the 25 fastest growing cities in America were in the Southwest Florida region. Despite the economic twists and turns caused by the pandemic, Southwest Florida population growth has not slowed. According to real estate economist Ken H. Johnson, affluent buyers have flocked from the Northeast and California. The U.S. postal service reported that in 2021, Cape Coral was the No. 1 city in the U.S. for relocations.
With companies and individuals no longer tied to large urban centers, moving operations to Florida promises more than sizable tax savings. With a geopolitical climate known to be favorable to business, companies feel conBY PHIL fident office doors FISCHLER will stay open even Guest Columnist as the country adjusts to living with the COVID-19 virus. When asked why NewDay USA was opening a second headquarters in South Florida, the Maryland-based mortgage lending firm noted their strategy had everything to do with following an established trend reinforced by the pandemic—young college graduates migrating South from the Northeast.
Regional insiders are optimistic about the region’s business future. In a recent survey conducted by the Regional Economic Research Institute at Florida Gulf Coast University, economists found 71% of surveyed business executives in Lee County believed economic conditions are better now than one year ago. Notably, in the commercial real estate market, the combination of job and population growth, low interest rates and strong vacancy rates make now an outstanding time for office building owners to sell. With capitalization rates historically low, sale prices are historically high. Industry experts believe the next six months may offer savvy building owners, who’ve been waiting to sell, their best price. As Southwest Florida continues to captivate major employers who bring attractive white color jobs with them, the region provides a powerful recruiting advantage to compel top talent who want to
keep more of their earnings and live in an ideal climate year-round. The migration of big business to Southwest Florida also incentivises graduates of local colleges, like leaders at Florida Gulf Coast University, to build a career—even start a family—in a place they already know and love. Fischler Property Company’s mission is to help our clients make great real estate decisions through brokerage and advisory services. It’s our goal to give office building owners and investors an insider’s look into the commercial real estate market in SWFL in real time. Phil Fischler is president of Fischler Property Company. In 2009, he founded Fischler Property Company with a mission to build a legacy through inspiring investment and restoration of Southwest Florida, while helping to positively shape its inevitable growth. Contact him at pjf@fischlerco.com.
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JULY 2022
Southwest Florida BUSINESS TODAY ®
Page 11
TECHNOLOGY
Small businesses need IT service provider We’ve all been there. You’re standing in a long line in a crowded store, ready to make a purchase. Then, just as you reach the front of the line, the person behind the counter says the words we’ve all heard before: ”Sorry, the computer’s being slow today.” The frustration shows on their face as you sigh to yourself and try not to let it show on yours. Or, maybe you’re on the phone with a new client and about to make that final sale. Then, your system crashes, and you feel that pit in your stomach as you apologize for the inconvenience and pray you don’t lose the sale. Technology fails. All of the time and at the worst of times. Yet, many small businesses still don’t see the value in being proactive when it comes to their IT infrastructure. They’d much rather wait until they experience a tech failure before they invest in IT. Unfortunately for small business owners, not being proactive when it comes to their IT infrastructure can be a costly mistake. The downtime businesses experience because of failing technology, outdated software, poorly installed networks, cybersecurity threats and even power outages or damage from severe weather often experienced in Southwest Florida can mean a loss of profit and time and it can leave the business with expensive data recovery and repair bills. According to Datto.com, the cost of this downtime for businesses can be anywhere between $10,000 to more than $5 million. It can also result in damaged brand reputation, lost business opportunities, lowered employee morale and the loss of customer trust. Whether you’re a new or established small business, if you depend on technology to keep your business running, investing in a qualified and dedicated IT managed services provider will bring a range of benefits to your business including: • Installation and maintenance of new and current tech-
nology, monitoring for updates, securing data, repairing failing technology and setting you up to prevent your technology from failing in the first place. • Peace of mind knowing you have access to a full team of dedicated and certified technicians and networking hardware, all for less than the cost of a single, in-house employee. • The ability to plan for a more manageable monthly IT budget inBY JENNIFER stead of wildly unpredictable and surYOUNG prise expenses if something does go Guest Columnist wrong. • Access to up-to-date technology and enterprise grade features, giving your business a competitive advantage. • Less employee downtime and more time for your company to do what it does best From retail to restaurants, office buildings to medical clinics, real estate to recreation, your networking and technology should be installed and actively monitored by a premium, trustworthy and dedicated IT MSP. You wouldn’t wait until something went wrong to purchase business insurance or wait until tax season to hire an accountant, so don’t wait until you have a tech failure to invest in an IT MSP for your small business. Jennifer Young is the public relations and marketing manager for NOC OUT NETWORKS, a premier IT Managed Services Provider in Fort Myers that has been serving Southwest Florida businesses since 1999. Visit www.nocoutnetworks.com. Contact her at (239) 437-4357 or jyoung@nocoutnetworks.com.
Register for active shooter and situational awareness training
Registration is open for the “Active Shooter and Situational Awareness Training for the Workplace” seminar on Friday July 22, 2022 at DeRomo’s LaFontana Banquet Room, 26795 South Bay Drive, in Bonita Springs. The workplace safety seminar is produced by HR by Karen, a human resources consulting company in Naples. Business leaders and individuals who want to have a plan in place for threatening workplace situations are welcome to participate. The training will be led by Lt. Thad Rhodes from the Collier County Sheriff’s Office. Attendees will gain a better understanding of law enforcement’s response to violence in the workplace and learn what to do in threatening situations. In addition, resources will be shared that can help mitigate trauma from workplace violence events. The event check-in begins at 2:30 p.m. and the program will begin promptly at 3 p.m. A reception will follow the training seminar to celebrate HR by Karen’s corporate anniversary. Go to hrbykaren.com for more information and to register.
$3 million approved for aviation technician facility The Charlotte County Airport Authority announced $3 million was approved in the Florida state budget for a combined hangar and classroom facility for Charlotte Technical College’s FAA-certified Aviation Maintenance Technician School. The budget was approved by Gov. Ron DeSantis on June 2. A larger training facility at Punta Gorda Airport is necessary to meet the aviation industry’s demand for aircraft mechanics, and state funding is essential to keep CTC’s costs low enough for tuition to remain affordable for students, officials said. “Training new Airframe & Powerplant certified mechanics is essential to the future of air travel and the aviation industry,” said CCAA Chair Robert D. Hancik. “This funding will further solidify CTC’s success and allow for the continued expansion of its training program at PGD.” The hangar facility is planned to
Don’t forget to post your in-person and virtual events on our B2B events calendar at www.swfloridabusinesstoday.com/calendar have four classrooms to accommodate up to 100 students at a time and will be located within the airport’s new aviation expansion area known as the “PGD AviEx.” This location will streamline on-the-job training as the area becomes a hub for avionics and aircraft maintenance businesses. CCAA is planning to construct the facility and enter into a long-term lease with Charlotte County Public Schools to occupy and maintain the facility. State Rep. Michael J. Grant, R-Port Charlotte, and Sen. Joe Gruters, RSarasota, sponsored the appropriations request, which is intended to diversify economic development opportunities in the region, create new and highquality job candidates, and support a burgeoning aviation industry in Florida.
CCAA Commissioner Vanessa G. Oliver serves as the legislative liaison for the Board. “Our local educators, community and businesses leaders got behind the project and helped us raise awareness on a state level,” Oliver said. “We want to thank them for their supportive letters, and our government officials in Tallahassee, for demonstrating their commitment to aviation initiatives in Charlotte County.” CTC’s Aviation Maintenance Technician school was launched in August 2021 utilizing its home base campus in Murdock as well as renovated facilities at PGD. CTC is quickly outgrowing the current building and hangar at PGD as it only allows for 50 students at a time. “Charlotte County Public Schools
is very thankful for our partnership with the Airport Authority,” said CCPS Superintendent Steve Dionisio. “We are looking forward to growing the Aviation program and to providing the future workforce for Southwest Florida.” The Governor’s Office and Representative Grant received more than two dozen letters of support from Allegiant Air, Charlotte County Economic Development, Economic Development Partnership, CareerSource Southwest Florida, Charlotte County Chamber of Commerce, Arcadia Aerospace, Florida SouthWestern State College, Commercial Broker Danny Nix, Turbine Weld Industries, Piper Aircraft, In the Loop Consulting, Hendry County Public Schools, Intrepid Aerospace, FGCU’s Office of Innovative Education & Partnerships, Farlows on the Water, Blackbird Aviation and the Charlotte County Composite Squadron of the Civil Air Patrol.
We Care About SWFL Commercial Realtors With dedicated space for informa�on: • On our website with a Commercial Real Estate sec�on & directory • In our quarterly Commercial RE Market pullout in both the print & digital versions of SWFBT • With zoned and full-run inserts • With guest column opportuni�es • With digital marke�ng op�ons
For more local business news and a calendar of local business events, please visit our website www.swfloridabusinesstoday.com
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Southwest Florida BUSINESS TODAY ®
JULY 2022
Lean on me — help your business get leaner every day
Say words like lean, six sigma, black belt and continuous improvement and many employees will roll their eyes. They envision training programs, special projects, expensive consultants and extra work. They anticipate the nightmare of being stuck in the new “Lean Conference Room” for hours doing special “Lean Projects” while their regular work piles up. In short, they see another “flavor of the month” program, while still having to do their regular job. While this does happen in many companies, it doesn’t need to be this way. Lean can be a critical tool to help your business succeed and grow. But it must be done right. And it doesn’t need to be complicated. The expansion of the global economy has provided the ability to purchase goods and services anywhere around the world, wherever one can get the best price, delivery and quality. While this is a significant opportunity, it also means that markets have become more competitive at all levels. In order to survive and flourish, your business must improve. All the time. In my experience, a number of common elements must be present for lean to be effective. First, management must take the time to make the case to the employees – explaining why improving is so important. And then reinforce it regularly. Create buy-in. Second, management must demonstrate ongoing personal commitment and participation. Third, everyone must be given some level of training. Fourth, lean must be considered a regular part of everyone’s job, not a side task. Fifth, measure to determine success or failure. Sixth, victories should be celebrated, large and small, and defeats considered educational,
with no adverse consequences for having tried and failed. Finally, and perhaps most importantly, it must be kept simple. Two effective and simple techniques you can quickly implement across your business or job are “5S” and “value stream mapping.” From there, you can add techniques and tools at your own pace. In simple terms, 5S is the proBY GREG cess of organizing your workSTEINER space and keeping it that way. Guest Columnist The result is that you don’t waste time looking for things. It’s that simple. As an example, a mechanic practicing 5S would have a visually marked “home” for every one of the tools at his or her station (and all the tools needed to do the job are available!) No other tool will fit in that home. It might be a specifically labeled drawer, an outlined rack, or a shadow box, but the tool is always there, unless it is in use. Period. In doing this, no time is ever wasted looking for a tool. This same concept can be applied in the office. Instead of tools, it might be clearly organized and labeled files and supplies. Think of how many times you have wasted minutes, hours, or even days looking for a file, book, production part or other “tool.” The wasted time adds up fast. And it is costly. Value stream mapping is also simple in concept. In basic terms, walk through any regular process and document all the steps taken and how long each step takes. This “current state” is analyzed for po-
State of the Region event takes deep dive into SWFL issues SWFL Inc. announced its newest signature event, State of the Region, to be hosted on Wednesday, Aug. 31, at the Hyatt Regency Coconut Point. This event will feature speakers and panelists from across Florida to discuss the trends, economics and policies that directly affect Southwest Florida’s community. State of the Region will focus primarily on SWFL Inc.’s policy priorities which include workforce housing, water quality and workforce and talent development but also touch on a wide range of topics including transportation, infrastructure and the challenges the region faces with an influx of residents and expected growth. Speakers for the event thus far include: Noah Valenstein, former Florida Department of Environmental Protection Secretary; L.K. Nandam, Florida Department of Transportation District 1 Secretary; and Victor Dover, Congress of New Urbanism fellow.
For more business news, visit www.swfloridabusinesstoday.com “Have you ever wanted to get involved with local politics but weren’t quite sure where to begin? Do you have a desire to help your community and have a say in the issues that matter most to you? We’ve been there too at SWFL Inc., and it’s just one of the reasons we decided to launch State of the Region,” said Tiffany Esposito, president and CEO of SWFL Inc. State of the Region will take a deep dive into topics such as workforce housing, water quality, workforce and talent development and have a solutionbased discussion on how Southwest Florida can move forward to solve the problems our businesses are facing each day. State of the Region will be hosted on Aug. 31 from 8 a.m. to noon at the Hyatt Regency Coconut Point.
tential improvements, which are tested to see if they actually improve things. After some trials, the new “future state” is documented, and contains the validated improvements. It becomes the new standard process. A simple example: You are sitting at a conference table and are handed a small package. You realize you need scissors to open the package. You stand up, walk across the room to the credenza, grab the scissors, return to your chair, and open the package. You then return the scissors to the credenza and walk back to your chair. This “current state” has four legs. You quickly realize you could have eliminated two of those legs by simply carrying the package to the credenza and opening it there, then returning to your seat. This represents a 50% savings in time and distance traveled. When you start thinking this way and applying this concept to the important processes in your factory or office (or both), you will find a gold mine in improvements. Now for the key part— you must actively take advantage of the improvement. You must fill the previously wasted time with additional, productive work. If you find that a particular work area can complete the normal eight hours of work in seven hours with some improvements, you must fill that last hour with new, productive work or no real savings will be realized. This stuff really works, but it is a journey, not a destination. It never ends. You need to do it. Now. Greg Steiner is a management consultant with Sea Breeze Associates and Atlantic Partners International. Contact glsteiner57@comcast.net.
ARTS PAGE 1 economic and social impact of arts and culture in our community. Audience & Attendee Surveys will be available at the front desk in multiple formats, including hardcopy, accessible by QR code or at our laptop station. While part of a national study, our reports will be based on spending by our own local nonprofit arts and culture organizations as well as the event-related spending by their audiences (at local retail, parking and restaurant establishments). The research tool shows investment in the arts does not come at the expense of economic development, but invests in an industry that strengthens the economy. At the national level, AEP5 in 2015 showed the nonprofit arts industry generated $166.3 billion in economic activity, supporting 4.6 million jobs and generating $27.5 billion in government revenue. Locally, the arts industry generated $49.7 million in annual economic activity in Fort Myers, supporting 1,389 full-time equivalent jobs and generating $6.7 million in local and state revenues.
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JULY 2022
Southwest Florida BUSINESS TODAY ®
Page 13
Sunseeker Resort set to officially open career center The Sunseeker Resort Charlotte Harbor is set to open the Career Center adjacent to the resort’s private golf course Aileron. The Sunseeker Resort Career Center is preparing to welcome employees for in-person interviews beginning in early Fall. Currently the resort is accepting guest reservations for guest stays beginning in May. The Career Center is designed to simplify the hiring process for future Sunseeker employees, handling interviews, new hire processing, onboarding and job training all onsite. This resort will become a center of activity in Charlotte Harbor and is expected to become the third largest employer in Charlotte County. Soon to become the first completely newly-built resort with more than 300 rooms in Southwest Florida in over 13 years, Sunseeker Resort will be recruiting for over 1,200 positions at all levels of opportunity within multiple career fields including, hotel services, restaurant management, human resources, financial management, housekeeping and more. “Sunseeker Resort’s Career Center is here to
“Our top priority is to find the most talented and unique team members wishing to be part of our community that is dedicated to providing memorable moments for our future guests.” — Jenny O’Brien, Director of Human Resources
welcome our future and current employees as we prepare for the resort’s grand opening,” said Jenny O’Brien, director of human resources. “Our top priority is to find the most talented and unique team members wishing to be part of our community that is dedicated to providing memorable moments for our future guests.” For future team members, Sunseeker Resort provides rewarding benefits including, a comprehensive health care plan, access to a 401(k), competitive compensation, work/life flexibility opportunities, career path planning, growth opportunities an d more. As the marquee destination of the Allegiant Travel
Company, team members and eligible family members can also fly free on Allegiant Air flights to more than 100 destinations in the United States. “At Sunseeker Resorts we believe that our employees are our most valuable assets. They are the key to creating an unforgettable resort experience and surpassing the expectations of our guests,” said Micah J. Richins, executive vice president and chief operating officer for Sunseeker Resorts. “We are thrilled to launch our Career Center and look forward to adding incredible talent to our organization and introducing them to something that we believe in more than anything else: our culture.”
TOURISM PAGE 1 To determine what he wants to do in each role he has served, he said, “First, I trust the research.” He added, “We then re-engineer as needed, while being both nimble and strategic.” He continued, “Collier County was well-positioned for travel when the pandemic relented. 2021 was a record-breaking year on every level with a $2.5 billion economic impact. 2021 just blew 2019 right out of the water.” He continued, “But now as tourism comes back in places like Latin America, the Caribbean and MexBeirnes ico, the tourism marketplace will once again become much more competitive and we will see our local metrics begin to ‘settle down’ to more sustainable numbers.” Beirnes noted, “I mean, we already experienced $1.2 billion of economic impact through APRIL 2022...! The Ritz Carlton was getting $3000/night this past season: the Inn on Fifth, $900/night: those numbers are simply not sustainable moving forward for a market like ours.” Beirnes continued, “Anti-travel sentiment continues to soften, pent-up demand is softening. International travelers, while initially strong here, is softening. On the other hand, meetings/conventions are showing signs of recovery, with larger conventions becoming smaller meetings—so we’re in a better position for those: I feel good about that.” He added, “Looking to the future, we had to ask ourselves, how do we address ‘Travel Post-Traumatic Stress Syndrome’? With our marketing mes-
Collier County CVB leader Paul Beirnes said hotels in Collier County are well-positioned to compete for smaller business conventions taking place post-COVID-19. saging, we want to invite potential visitors to ‘Try something new, together.” So while the travel industry future is tenuous in some respects for Collier County, it’s very exciting in others. When asked how Collier County can capitalize on the momentum that built up in 2021, Beirnes replied, “Know our niche moving forward. We offer an ‘elevated travel experience’ and very few places in Florida offer that, places like Palm Beach. We also need to get that message out to Florida residents.” “We are also developing some new tourism segments, with the Paradise Sports Complex front and
Don’t forget to post your in-person and virtual events on our B2B events calendar at www.swfloridabusinesstoday.com/calendar center. We’ve got one more phase left to complete there: it is truly a tourism driver beyond the beaches for us. And we’re looking at developing a multi-cultural festival here, with $1 million of our tourism budget this year dedicated to the further development of our cultural museums.”
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Page 14
Southwest Florida BUSINESS TODAY ®
JULY 2022
TECHNOLOGY
Tech tips to protect your company when workers are remote Before the pandemic, “WFH” wasn’t a recognizable acronym. Today, “Work From Home” is widely known and widely practiced. According to a Pew Research Center study in early 2022, 59% of employed adults who say their jobs could be done at home are working remotely all or most of the time. Another 18% say they work from home some of the time. Computers, Wi-Fi, servers and cloud-based systems have made that possible. In a job market where employees hold bargaining power, many employers are offering work from home options to recruit and retain workers who value flexible schedules and work-life balance. However, employers are potentially putting their company at risk by not protecting the most important element of a business – data. Businesses that allow employees to work remotely should focus on these five requirements for safeguarding technology and data: Company-issued equipment: In the office, employees access files and data on secure devices in a secure setting. At home, employees might log on using the same computer their spouse uses for work or children use to play games. Children also know the passcodes to their parents’ cell phones, the same devices used to send and receive company email. Don’t risk a possible exposure by allowing employees to
use their own hardware; invest in company-issued computers, tablets and cell phones may be costly upfront, but the cost of a data breach is significantly higher. Written policy: When social media was first introduced, it was the Wild West. Employers had to balance their employees’ freedom of speech during off-hours with the potential implications of their words on the company. That led BY JOHN to written social media policies, JOYCE and the same approach is imporGuest Columnist tant for company-issued technology. Employees should understand what they can and cannot do on or off the clock with technology. VPN usage: Remote employees can work from anywhere with a wired or wireless internet connection – home, airports, coffee shops, libraries and more. Public Wi-Fi is often free and fast, but not always trustworthy. Cybercriminals also can create wi-fi networks that appear to be a trusted brand, yet exist simply to steal data. Require employees to use a VPN at all times to encrypt data and prevent hackers from accessing information.
Protect passwords: Passwords are like keys – never trust anyone with them. It’s tempting to write passwords on a sticky note and shove them in a desk drawer, which is OK if the desk drawer has a lock and no one has access to it. Trying to remember multiple passwords for multiple programs is difficult, and remote or hybrid workers might be tempted to email their passwords to themselves or save them in one computer file. Never put passwords in writing, and if you need to store them electronically, only use a verified password records app. Protect digital paperwork: In the office, sensitive or confidential files are stored in locked cabinets before being securely disposed in a shredder. That security procedure is important for digital files, too. Companies should advise remote workers how to delete or wipe devices to ensure cybercriminals have nothing to steal. All indications are that WFH is here to stay. Minimizing security risks, no matter if employees are down the hall or across the country, is critically important for protecting data, and ultimately your business. John Joyce is an owner of CRS Technology Consultants, a Cape Coral-based IT company founded in 1988. Visit CRSTC.com or call (239) 542-8450.
TECHNOLOGY
Five elements of an optimal, ergonomics-friendly office chair
Many office-based workers sit all day. sign style certainly are important. They sit at their desks, in the conference room and But ergonomics should be the dein the lunchroom. They sit during meetings, Zoom ciding factor. These five elements calls and presentations. Eight hours of sitting, five help create an optimal office chair: days a week. • Adjustable height: The seat A comfortable office chair helps make all that must be positioned so an indisitting bearable. Beyond comfort, though, there is vidual’s feet can rest flat on the another factor to consider when choosing a chair – floor. The right height also helps ergonomics. Nationally, nearly one-third of workers’ an individual keep his or her arms, compensation claims are related to musculoskeletal hands and fingers level with the disorders, which include muscles, nerves, blood veskeyboard; bending wrists up or sels, ligaments and tendons. Sitting for extended pe- BY JOE down to type is an ergonomics red riods can contribute to those ailments, which led the GAMMONS flag and can worsen carpal tunnel Occupational Safety and Health Administration to Guest Columnist syndrome. note the role of ergonomics in preventing musculo• Adjustable armrests: Having skeletal disorders. a place to rest arms is not laziness. Armrests help an Oftentimes, businesses do not replace office chairs individual’s shoulders from slouching, which then until they are broken, despite research showing wide- puts a strain on the upper back and neck. Armrests ranging benefits of an ergonomics-focused work- also help maintain balance so that an individual isn’t place, like increased productivity, quality of work, leaning to the left or right. morale, culture and retention. The typical manufac• Padded seat: Anyone who has ever sat on a metal turer’s warranty on an office chair is three to five folding chair for an extended period understands the years. importance of having a padded seat. The exterior maWhen selecting an office chair, price, color and de- terial – leather, vinyl, fabric or even mesh – is not as
important, so long as there is some “give” or cushion to the seat. • Lumbar support: A chair back should follow the natural curvature of an individual’s back as they sit and have a little “give” when leaning back. Generally, most office workers prefer a seat back angle of 95 to 105 degrees for optimum comfort and support. • Swivel base: Wheels and a swivel base allow individuals to turn their whole body instead of just their neck when talking on the telephone, grabbing copies from the printer or opening drawers. This helps prevent strains and sprains, with neck pain being a common occurrence. Employees and businesses both benefit from a focus on ergonomics. Discomfort, pain and fatigue can impact individual performance. For companies, a healthy workforce can complete more tasks, thus helping businesses reach their goals. Joe Gammons is president of OFDC Commercial Interiors, which provides office chairs, desks, conference tables, cubicles, bookcases, flooring and design services to businesses across Southwest Florida. Visit OFDC-inc.com or call (239) 347-4876.
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Read your customer’s body language
Question: I have heard there are ways to know what someone is thinking by reading their body language. Is this true?
Answer: Numerous articles have been written about body language. Although it is not an exact science, being aware of signals that may indicate what a customer is thinking is helpful. People react to different stimuli. Some might be visual. Others are auditory or kinesthetic. Eye movements can sometimes indicate how best to communicate with the person. Looking upward or to the side might indicate someone is visual, as they are processing what you say with mental images. This is a good sign. They are carefully considering what you are saying. Visual people might react well to a PowerPoint presentation. Looking straight at you is also a sign of interest, but looking downward can signal the person is not comfortable with your message. Failure to make eye contact might indicate a lack of interest. Posture is another indicator of how your message is being received. John Boe, who owns Boe International, a California-based consulting firm that helps companies recruit, train and motivate people, said: “There are two basic categories of body posture: open/closed and forward/back.” Leaning forward with unfolded arms and legs uncrossed usually indicates interest and agreement, Boe said. Leaning back with folded arms and crossed legs often indicates a lack of interest. Boe said “chin stroking” is a sign the customer is strongly considering a proposal.
BY GRAY POEHLER Guest Columnist
Have you ever noticed in the course of a conversation that the person you are talking to is copying your body movements? If you cross you legs or lean your head they do the same. Mirroring one’s body language is a good sign and indicates the other party is receptive to your
message. A good salesperson is like a chameleon — they can adapt to their environment. When talking to a customer, personalize the relationship. If you see a picture of the customer’s son in a football uniform, talk sports before launching into your sales pitch. Pace your delivery to match that of your prospect. Listen more intently, and dress to fit the occasion. Ask questions that require more than a yes or no answer. The goal is always to get the customer involved in the conversation. If you are doing all the talking, you have already lost the sale. Gray Poehler is a volunteer with SCORE Naples. Business counseling on this and other business matters is available, without charge, from the Naples Chapter of SCORE. Call (239) 430-0081 or visit https://naples.score. org/mentors .The SCORE business office is located at 900 Goodlette Road North, in the Fifth Third branch bank building.
Dragon Horse expands, opens L.A. office
Naples-based Dragon Horse Agency on June 3 officially opened a new office in the 100 Wilshire Building in Santa Monica, Calif., sitting on the Pacific Ocean’s bluffs. Dragon Horse’s new office location places the firm at the epicenter of everything creative, marketing, and media-related, and minutes from “Silicon Beach” with Microsoft, Meta, Google, Activision, EA, SNAP, and close to music, movie and TV production companies in Culver City and Hollywood. 100 Wilshire Building is iconic for many reasons. Bandleader Lawrence Welk, well known as a television mainstay in the 70s, was also a serious real estate developer. He put his mark on the built environment of Santa Monica with
his 1970s construction of Lawrence Welk Plaza. “As a native Los Angeleno, it is with great pride to be opening Dragon Horse’s west coast office in the city where I was born, grew up, and graduated from the University of Southern California. Reinvesting back in this community, which gave me so much growing up, is rewarding,” said cofounder and chief strategy officer Patrick Blake Renda. “L.A.’s diversity of culture and industry, talent-rich environment, and top universities will allow Dragon Horse to expand and enhance our platform, offering our global clients the best in talent, product, and services while bolstering Dragon Horse’s unwavering commitment to excellence.”
Page 15
Common small business budgeting errors to avoid When creating a budget, it’s essential to estimate your spending as realistically as possible. Here are five budget-related errors commonly made by small businesses and some tips for avoiding them.
budget and later finding out that you don’t have the cash to pay for your tax obligations.
Not Setting Goals It’s almost impossible to set spending priorities without clear goals for the coming year. It’s important to identify, in detail, your business and financial goals and what you want or need to achieve in your business.
Assuming Revenue Equals Positive Cash Flow Revenue on the books doesn’t BY W. BRADLEY always equate to cash in hand. Just COOPER because you’ve Guest Columnist closed the deal, it may be a long time before you are paid for your services, and the money is in your bank account. Easier said than done, perhaps, but don’t spend money that you don’t have.
Underestimating Costs Every business has ancillary or incidental costs that don’t always make it into the budget for whatever reason. A good example is buying a new piece of equipment or software. While you probably accounted for the cost of the equipment in your budget, you might not have remembered to budget the time and money needed to train staff or for equipment maintenance. Forgetting about Tax Obligations While your financial statements may seem adequate, don’t forget to set aside enough money for tax (e.g. sales and use tax, payroll tax) owed to state, local and federal entities. Don’t make the mistake of thinking this is “money in the bank” and use it to pay for expenses you can’t afford, or worse, including it in next year’s
Failing to Adjust Your Budget Don’t be afraid to update your forecasted expenditures whenever new circumstances affect your business. Several times a year, you should set aside time to compare budget estimates against the amount you spent and then adjust your budget accordingly. Contact the office if you have questions or need assistance setting up a budget to meet your business financial goals. W. Bradley Cooper Jr. is a certified public accountant based in Fort Myers. Contact (239) 275-4511
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