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Start 2018 with a Business Checkup
First, talk to your banker about your company’s financial status Making predictions is never easy, especially for small-business owners and managers. Unlike their larger counterparts, small firms rarely have the resources to monitor and take corrective action for every new trend and issue. Even entrepreneurs who’ve experienced numerous business cycles face new circumstances that confound […]
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First, talk to your banker about your company’s financial status
Making predictions is never easy, especially for small-business owners and managers. Unlike their larger counterparts, small firms rarely have the resources to monitor and take corrective action for every new trend and issue. Even entrepreneurs who’ve experienced numerous business cycles face new circumstances that confound their instincts and knowledge.
While there is no crystal ball that accurately predicts the future, small-business owners and managers can take steps to help their enterprises endure the worst of times and take advantage of the best of times. Perform a small-business heath checkup to determine if your company is ready for the coming year.
First, talk to your banker about your company’s financial status. Lenders offer experience in advising business managers and owners on issues specific to their businesses and industries. Have them review your year-end financial statements and offer an honest appraisal. Talk about establishing a line of credit, which could stabilize your cash-flow position in 2018.
Second, strengthen relationships with creditors. It could be time to renegotiate terms or change payment amounts on overdue bills. Overdue bills and inconsistent payment practices won’t help your long-term credit position. What’s more, your creditors could be experiencing financial difficulties as well. Any flexibility will hinge on whether they perceive you as a reliable partner or a risk they want to eliminate.
Next, keep a close watch on your receivables. Review who owes your company money and make sure they’re meeting terms. Be firm when dealing with problem accounts, but also remain willing to negotiate when appropriate. With a little encouragement, a struggling customer could become a long-term source of income. The longer an account receivable ages, the harder it becomes to collect on that debt.
Fourth, make sure all expenditures are justified and contribute to the financial health of your business. You might find it necessary to redirect money to areas that will enhance business performance. If you carry an inventory of products, check the accuracy of your records and procedures to prevent losses. It could be helpful to adjust your order amounts to match projected sales. Now is the time to review management and employee expenses to determine if they’re justified and meet the mission of your business.
Fifth, review your operations and expenses on a regular basis. If you monitor your profitability on a monthly basis, it might be a good idea to begin reviewing it on a weekly or bi-weekly basis during slow economic times. Likewise, review and update your business plan more frequently. Monthly or quarterly reviews make it easier to make adjustments and keep your business on track.
Finally, step up your marketing efforts. Many business owners mistakenly see marketing as a luxury when money is tight. In actuality, this is the time when increased marketing could be needed. Along with reassuring current customers you’re still there to serve them, marketing can help you reach new consumers who will grow your business now and into the future.
For more information on the U.S. Small Business Administration’s (SBA) many finance and business training programs, please visit www.sba.gov or call the Syracuse District Office at (315) 471-9393.
Bernard J. Paprocki is district director for the SBA’s Syracuse district office. He is responsible for the delivery of SBA’s financial programs and business-development services for a 34-county region in upstate New York.
All hail the rise of the schlubs. Along with the fat biscuit-faced folks. And the hinters of our hinterland. And the frumps of Frumptown. That is my reaction to the recent nasty attacks by celebrities on Sarah Huckabee Sanders, the White House press secretary whose job requires her to spend a lot of time on
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All hail the rise of the schlubs. Along with the fat biscuit-faced folks. And the hinters of our hinterland. And the frumps of Frumptown.
That is my reaction to the recent nasty attacks by celebrities on Sarah Huckabee Sanders, the White House press secretary whose job requires her to spend a lot of time on television.
Recently, Cher tweeted an order to those around Sarah: “Would someone please tell Sarah Huckabee Sanders to stop dressing like a sister wife.” This was not only a dig at Sanders’ style of dress. “Sister wives” is a derogatory term for women in polygamist families, as some Mormon women are.
Cher included a photo of two women who many would call “plain.” No make up. No hair-styling. Frocked from neck to toe in simple shapeless dresses …that looked home-stitched. Lace-up shoes. Long sleeves. You get the picture.
Comedienne-writer Chelsea Handler piled on. She re-tweeted a Sarah Sanders parody that many consider to be vulgar. It mocked Sarah’s weight and physical appearance. It had a comedienne playing Sarah say, “My face is a big, fat biscuit.” It insinuated she looks like a man.
Interesting that Cher should criticize a woman’s fashions. She appeared at last year’s Billboard Awards dressed like a pole-dancer. Or more like a stripper who is down to the last skimpy pieces before her finale. And wasn’t she at the big women’s march? And isn’t one of the goals of feminists and other women to end the judging of women by their clothes, shapes, and sizes?
The New York Times questioned Sarah’s choice of fashions at length. It reckoned she “offers visual reference points of Main Street (the Fox version.).” Notice the little dig at Fox News? Sorry, but the New York Times has no clue where the Main Streets of America are.
Hollywood Reporter called Sanders “a real-world figure, dressing on a budget.”
Meanwhile, Sanders defends herself. She says she prefers to focus on relating the president’s message to the country. She says she simply wishes to convey honesty and transparency.
And meanwhile, back at the Handler Ranch, Chelsea says, “This woman deserves to be taken down. She is pure evil.”
Tell me Trump Derangement Syndrome isn’t real.
Now, I don’t deserve a say in all this. But, to me Sanders looks like, well, a soccer mom. A PTA member. A local council woman. A neighbor. A checkout clerk. A friend. A woman. A person.
I know, I know. The elite regards them as frumpy denizens of Frumptown. And ghoulish hinters of the hinterland. And schlubs. Maybe even deplorables.
I am here to stand up for them. I reckon women can do what they want. They can dress for comfort or for however they want to. They can come in various sizes and shapes.
We have had an endless parade of face-lifted, chest-enhanced, butt-tightened, hair-styled women on the national scene. Hey, whatever turns them on. But it is kind of nice to have Sarah on the national stage. Because she looks a little like 75 percent of the women I meet.
If they will let me, I would love to be the drum major of their parade. The frumps, hinters, schlubs, deplorables, and fat biscuit-faced women.
I qualify. Since forever I have looked like an unmade double bed. My suits sag. My tux laughs at me. Natty? I am gnatty. Tailored? Call me upholstered. My bulges have their own bulges.
There used to be custom tailors near Rockefeller Center in the Big Apple. They would only let me in their back door after business hours. And they sewed labels into what they created for me: “Sam Blatz. Self-taught tailor. Hoboken. Cheap.”
If I ever find Sam, I will ask him if he would like to join me in that parade. He could carry my custom-made cape.
From Tom…as in Morgan.
Tom Morgan writes about political, financial, and other subjects from his home near Oneonta. Write to Tom at tomasinmorgan@yahoo.com. You can read more of his writing at tomasinmorgan.com
Diplomas to Homeownership Program Would Assist Land Banks
For many New Yorkers, high student-loan debt and the cost of living can make it difficult to achieve the dream of owning a home. As a result, fewer people may be able to invest in homes in our local communities. Legislation I sponsor, known as the New York State (NYS) Diplomas to Homeownership Program, would
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For many New Yorkers, high student-loan debt and the cost of living can make it difficult to achieve the dream of owning a home. As a result, fewer people may be able to invest in homes in our local communities. Legislation I sponsor, known as the New York State (NYS) Diplomas to Homeownership Program, would incentivize graduates of New York state colleges to purchase homes rehabilitated by local land banks.
The NYS Diplomas to Homeownership Program legislation is modeled after programs that have worked in other states such as Rhode Island and Maryland. It is designed to help college graduates achieve the goal of buying a house and at the same time help strengthen and revitalize neighborhoods. Essentially, the legislation would provide college graduates who purchase a house rehabilitated by local land banks with up to $15,000 to be applied to their student-loan debt. The award would be equal to 10 percent of the purchase price of the home. In order to qualify, buyers need to be graduates of New York state high schools and New York state colleges and would also be required to remain in the home for at least five years.
Land banks are relatively new to upstate New York. In 2011, New York State law authorized the creation of up to 25 land banks throughout the state. They are public entities and each share the common goal to acquire and repurpose vacant, abandoned, and foreclosed properties. Their mission is to specifically target these types of properties in order to assist in rehabilitating neighborhoods and communities. There are now 23 land banks in New York state — all aiming to eliminate blight, return abandoned properties to productive use, and ultimately get them back on the tax rolls. In just a short time, the land banks have been successful and have collectively improved more than 2,000 properties and incentivized an estimated $75 million in private investment. Further, they have razed almost 500 blighted structures, sold more than 650 properties, and as a result, have added almost $30 million in assessed value to the tax rolls. This is all helping to revitalize neighborhoods.
In addition to assisting recent grads, the NYS Diplomas to Homeownership program would help land banks secure buyers for the rehabilitated properties and create new demand for the housing. This demand has the potential to reduce the amount of time the properties spend on the market and, thus, presumably reduce the amount that land banks spend on marketing properties. This would enable land banks to realize a return on their investments sooner rather than later, which would encourage them to rehabilitate additional properties and essentially make the land banks more sustainable.
In addition, NYS Diplomas to Homeownership has the potential to maximize state investment by creating a link between young professionals who have invested in their education directly with local revitalization efforts. This program would work to encourage talented, young people to be a part of Upstate revitalization and to stay in New York state.
I look forward to advocating for this legislation this session. I will also push for funding for land banks in the 2018-19 budget.
William (Will) A. Barclay is the Republican representative of the 120th New York Assembly District, which encompasses most of Oswego County, including the cities of Oswego and Fulton, as well as the town of Lysander in Onondaga County and town of Ellisburg in Jefferson County. Contact him at barclaw@assembly.state.ny.us, or (315) 598-5185.
Dermody, Burke & Brown, CPAs, LLC
Dermody, Burke & Brown, CPAs, LLC has promoted MICHAEL BURT to manager in its Tax Department. He joined the accounting firm in 2012 and has more than 19 years of tax and accounting experience. Burt, a CPA, received his bachelor’s degree in accounting and an MBA from SUNY Oswego. NATASHA NEWBURY has been promoted
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Dermody, Burke & Brown, CPAs, LLC has promoted MICHAEL BURT to manager in its Tax Department. He joined the accounting firm in 2012 and has more than 19 years of tax and accounting experience. Burt, a CPA, received his bachelor’s degree in accounting and an MBA from SUNY Oswego.
NATASHA NEWBURY has been promoted to manager in the firm’s Auditing and Accounting Department. She received a bachelor’s degree from SUNY Oswego. Newbury has more than 10 years of experience with employee-benefit plans and financial institutions, along with other industries. She also speaks at various colleges and high schools throughout the year, promoting the accounting profession.
GREGORY SMITH has been promoted to manager in the Tax Department. He joined Dermody, Burke & Brown as an associate in 2011. Smith graduated from SUNY Oswego with a bachelor’s degree and an MBA. He is a CPA and also a QuickBooks Pro Advisor.
Fust Charles Chambers LLP has hired MICHAEL M. O’CONNOR as an audit manager. He joins the firm with more than eight years of experience in the public accounting industry. O’Connor received his bachelor’s degree in accounting from St. John Fisher College and is a CPA.
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Fust Charles Chambers LLP has hired MICHAEL M. O’CONNOR as an audit manager. He joins the firm with more than eight years of experience in the public accounting industry. O’Connor received his bachelor’s degree in accounting from St. John Fisher College and is a CPA.
Nagle Athletic Surfaces has promoted SERGE SILVA to senior track technical sales representative. He started his career at Nagle in 1992 as a field technician and has played an integral role in the growth and development of Nagle Athletic Surfaces court and track divisions. Silva has been responsible for selling and coordinating numerous projects at
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Nagle Athletic Surfaces has promoted SERGE SILVA to senior track technical sales representative. He started his career at Nagle in 1992 as a field technician and has played an integral role in the growth and development of Nagle Athletic Surfaces court and track divisions. Silva has been responsible for selling and coordinating numerous projects at colleges and high schools across New York and Pennsylvania.
CODY MILLER has joined Community Bank N.A. as commercial banker in its Johnson City office. He joins Community Bank from Wells Fargo. During his five-year tenure at Wells, he served in a variety of positions, including teller, business banking credit analyst I and II, and most recently as commercial banking portfolio manager. Miller earned his
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CODY MILLER has joined Community Bank N.A. as commercial banker in its Johnson City office. He joins Community Bank from Wells Fargo. During his five-year tenure at Wells, he served in a variety of positions, including teller, business banking credit analyst I and II, and most recently as commercial banking portfolio manager. Miller earned his bachelor’s degree in economics from California State University, Sacramento.
Strategic Financial Services, Inc. announced that GREGORY A. MATTACOLA has joined as a financial advisor. His background includes providing leadership and counsel to families, businesses, and institutions across New York state. Mattacola was the founder of The Mattacola Law Firm, VP/in-house counsel to Rome Memorial Hospital and most recently counsel to Hancock Estabrook, LLP. He
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Strategic Financial Services, Inc. announced that GREGORY A. MATTACOLA has joined as a financial advisor. His background includes providing leadership and counsel to families, businesses, and institutions across New York state. Mattacola was the founder of The Mattacola Law Firm, VP/in-house counsel to Rome Memorial Hospital and most recently counsel to Hancock Estabrook, LLP. He earned his law degree at the University at Buffalo School of Law and his bachelor’s degree at St. Bonaventure University with a dual major in English/political science.
STEVE CAMPBELL has been named partner at S.E.E.D. Planning Group, LLC, in Binghamton. A graduate of both Rutgers and Binghamton University, he joined the firm in May 2017, working as the director of community engagement. Campbell’s primary concentration includes strengthening the bond between S.E.E.D. and the community.
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STEVE CAMPBELL has been named partner at S.E.E.D. Planning Group, LLC, in Binghamton. A graduate of both Rutgers and Binghamton University, he joined the firm in May 2017, working as the director of community engagement. Campbell’s primary concentration includes strengthening the bond between S.E.E.D. and the community.
Loretto recently promoted three of its employees to executive positions. JOELLE MARGERY has been named VP of skilled nursing. She has been at Loretto for more than 10 years, and previously served as director of nursing for Loretto Health & Rehab. Margery also has experience working in several inpatient and outpatient settings before joining Loretto,
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Loretto recently promoted three of its employees to executive positions. JOELLE MARGERY has been named VP of skilled nursing. She has been at Loretto for more than 10 years, and previously served as director of nursing for Loretto Health & Rehab. Margery also has experience working in several inpatient and outpatient settings before joining Loretto, including labor & delivery, the intensive-care unit, and short-term rehabilitation. She earned her RN degree from St. Elizabeth College, her bachelor’s degree from Southern New Hampshire University, and is a certified legal nurse consultant.
JENNIFER INGERSON has been promoted to VP of housing. She has been at Loretto for more than 25 years, and previously was the executive director of housing. Ingerson also had several years of experience as a senior housing consultant for organizations across the Northeast and managed other senior housing programs for Loretto. She holds a master’s degree in health-services management from the New School of Social Research, Green Belt certification in Lean Six Sigma, and is a graduate of CenterState CEO’s Executive Leadership Development Series.
STEPHANIE BUTTON has been promoted to VP of PACE CNY. She has been with Loretto and PACE CNY for more than 15 years, and previously served as executive director of PACE CNY. Button also has several years of social-services experience with nursing homes in the Bronx, Queens, and Newark, New York. She holds a master’s degree in social work from Syracuse University, with a certificate of achievement in gerontology from the Maxwell School of Citizenship and Public Affairs, and a bachelor’s degree in sociology from St. Bonaventure University.
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