Daily Business Report-Jan. 24, 2019
Study is based on a survey of more than 500 respondents. (Graphic courtesy of San Diego Regional EDC)
Study uncovers new insights about
San Diego region’s small businesses
Forty-one percent of the San Diego region’s small businesses intend to hire more employees in the next two years, according to a new study by the San Diego Regional EDC in partnership with the San Diego & Imperial Small Business Development Center.
The study says small businesses are the backbone of the San Diego economy, representing 98 percent of local businesses and employing roughly 59 percent of the workforce.
Based on a survey of more than 500 respondents, “An In-Depth Look at San Diego’s Small Business Ecosystem” uncovers insight about the region’s small businesses – those with fewer than 100 employees – and quantifies the number of firms, workforce, demographic and industry breakdown, business outlook and more across San Diego and Imperial counties.
The study found 36 percent of small businesses are women-owned, 20 percent are minority-owned and 10 percent are veteran-owned.
“This study helps reinforce what we already know: San Diego’s small businesses are the cornerstone of our economy, employing nearly 700,000 San Diegans and driving innovation across the world,” said Kirby Brady, research director at the San Diego Regional EDC.
Key findings of the study:
- Small businesses employ 697,000 workers, making up 59 percent of San Diego’s total workforce.
- 27 percent of the region’s workers are in businesses with fewer than 20 employees; while more than 64 percent of firms employ fewer than five people.
- 69 percent of small businesses reported financial growth in the past two years.
- 59 percent of the region’s small businesses have local customers.
- Of firms surveyed, roughly 43 percent expect to grow in terms of workforce and 81 percent expect to grow in terms of financial performance.
- The majority of companies who have been operating less than two years generate less than $100,000 in annual revenue, while more than half of established companies (10 years or longer) generate more than $1 million in revenue annually.
Small business growth challenges:
- Eighty-five percent of locally-serving small business said “sales and new business” is a challenge, including 25 percent who said it is the most significant challenge.
- Fourteen percent of small businesses said that ‘financial stability and cash flow’ is the most significant challenge.
“In order to better serve the needs of our small businesses and entrepreneurs, it’s important that we understand their perceptions and experiences, said Danny Fitzgerald, associate regional director of San Diego & Imperial SBDC Network. “This study will enable us to create new and enhance existing programming to support small business growth across the region.”
Click here for the full study.
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Faulconer leads border trade
discussion at U.S. Mayors Conference
By Times of San Diego
San Diego Mayor Kevin Faulconer is in Washington this week to lead a discussion of the new cross-border trade agreement with other U.S. mayors.
The three-day U.S. Conference of Mayors’ 87th winter meeting began Wednesday with some 250 mayors of cities with populations of 30,000 or more scheduled to attend.
Faulconer will lead a special forum on trade and the United States-Mexico-Canada Agreement reached last year to replace NAFTA. He is urging Congress to give final approval to the new trade pact.
“I’ll be helping to lead a discussion of how important free trade is, not just for the San Diego region, but for our country,” Faulconer said Tuesday as he left San Diego. “I’m looking forward to getting this across the finish line.”
He is co-chair, along with mayors from cities in Canada and Mexico, of the mayors conference’s Alliance on Trade in the Americas, a board that works to strengthen economic ties and cross-border commerce in North America.
Faulconer’s counterpart from Los Angeles, Mayor Eric Garcetti, will moderate a discussion titled “Assuring a Full and Fair 2020 Census and Inclusive Immigration Policies,” as he is chair of the Latino Alliance of the U.S. Conference of Mayors.
The mayors are scheduled to hear from House Speaker Nancy Pelosi, Treasury Secretary Steven Mnuchin and a number of potential 2020 presidential candidates
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i.d.e.a. wins major award for hospitality marketing
The Hospitality Sales and Marketing Association International (HSMAI) hosted its annual Adrian Awards in New York City and awarded the highest honor to creative agency i.d.e.a. and its partner Curio Collection by Hilton. Recognized for their work on the Curious Gene campaign, the agency received a Platinum Adrian Award in Digital Marketing Innovation.
For Curio Collection by Hilton, i.d.e.a. worked with the brand’s internal marketing team to lead the creative effort for the Curious Gene campaign.
“When Curio Collection by Hilton, an upscale, global portfolio of more than 50 one-of-a-kind hotels and resorts, asked us to help build brand engagement on their social channels, we researched what drives people to choose non-branded hotels,” stated Jon Bailey, founder of i.d.e.a. “Curio Collection by Hilton hotels appeals to travelers seeking unexpected and authentic experiences, so we set out to create a social campaign designed specifically for that target audience.”
During the research phase, i.d.e.a. discovered a scientific study indicating that 20 percent of all humans carry the DRD4-7R gene. Called the Curiosity Gene, it triggers those who possess it to seek out new experiences, adventures and truths. This gene became the central platform from which i.d.e.a. and the Curio Collection marketing team created the Platinum Award-winning campaign.
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El Cajon Boulevard Business Improvement
Association to unveil ‘Blvd. 20/20 Plan’ today
The El Cajon Boulevard Business Improvement Association will unveil its “Blvd. 20/20 Plan” during its annual meeting today at 5:30 p.m. at the Boulevard’s office at 3727 El Cajon Blvd. in City Heights. The public is invited.
The Blvd. 20/20 Plan lays out a new community vision for El Cajon Boulevard as a model for successful transit-oriented communities in San Diego.
“El Cajon Boulevard has been an iconic San Diego thoroughfare for well over 100 years,” said Tootie Thomas, president of the El Cajon Boulevard BIA. “This is where Hollywood stars would vacation and where President Kennedy’s motorcade cruised on his visit to San Diego in 1963. Now, a renaissance is underway along the corridor, with so many exciting projects and initiatives in the works that will make this an even better place to live, work and invest in the years ahead. We look forward to this next chapter in the Boulevard’s story and to sharing our vision with the greater San Diego community
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USD awarded $1.5 million to bolster
regional energy innovation network
The University of San Diego, in partnership with Cleantech San Diego and California State University, San Marcos, has been awarded a three-year federally matched $1.5 million grant from the U.S. Economic Development Administration to scale up the capacity of the San Diego Regional Energy Innovation Network (SDREIN) program and support clean energy startups located in Riverside and San Bernardino counties. The University of California, Riverside, is supporting the program with in-kind matching, office space and logistical support for the Inland Empire.
The funds will be used by USD and its partners to hire an Inland Empire program manager and also will pay for student internships and projects that accelerate the development of SDREIN startups, while exposing students to career opportunities in Inland Empire within the energy sector.
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Port officially dedicates new Shelter Island Boat Launch
The Port of San Diego, along with community leaders and boating enthusiasts, officially dedicated the new Shelter Island Boat Launch Facility with a ribbon-cutting ceremony on Tuesday.
The project had been years in the making and included extensive public outreach. In November 2015, the California Department of Parks and Recreation, Division of Boating and Waterways awarded the Port $6.1 million in grant funding for the project. In March 2016, the State of California Wildlife Conservation Board awarded the Port $3.5 million for it.
The Shelter Island Boat Launch Facility was originally constructed in the 1950s and underwent upgrades in 1976 and 2005. It is believed to be the busiest boat launch in California, with approximately 50,000 launches per year. The project enlarged the maneuvering area in the facility’s basin, added longer boarding floats, a public walking platform with viewing areas, and new signage and lighting. The new facility was constructed by R.E. Staite Engineering and designed by Triton Engineering, both local companies. The total construction cost was approximately $9.6 million.
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Navy’s new destroyer to be commissioned
Saturday at Naval Air Station North Island
The Navy’s newest Zumwalt-class destroyer, the future USS Michael Monsoor, will be commissioned at 10 a.m. on Saturday at Naval Air Station North Island. The event is open to the public, but tickets are required.
The ship is the second Zumwalt class destroyer to enter the fleet. It honors Petty Officer 2nd Class Michael Monsoor, a Navy SEAL who was posthumously awarded the Medal of Honor for his heroic actions in Ramadi, Iraq, Sept. 29, 2006. At the ship’s 2008 naming ceremony, former Secretary of the Navy, Donald C. Winter recognized Monsoor as, “a consummate professional who faced terrorist enemies with aplomb and stoicism.”
Capt. Scott Smith is the commanding officer of the ship and leads the core crew of 148 officers and enlisted personnel. The nearly 16,000-ton Michael Monsoor was built by General Dynamics Bath Iron Works in Bath, Maine.
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Hospitality and tourism industries
to host students at hospitality conference
San Diego’s hospitality and tourism industry will open its doors to host 525 high school students for the 21th annual Hospitality Conference and Career Fair on Wednesday, Feb. 13. The conference will be held at Golden Hall at 202 C Street, San Diego from 8 a.m. to 1 p.m. The event is designed to prepare and inspire students, who are currently enrolled in hospitality and culinary programs, for future career success in one of San Diego’s fastest growing sector. During the day, students will explore various careers paths, interact with top industry professionals and fill out applications to secure summer job opportunities. After the interactive tours, the student will have a chance to test their own knowledge during a live competition on culinary and hospitality topics.
Brooke Jones, Kitchen Manager at Phil’s BBQ Santee and Tyler Martin, regional general manager at the Brigantine Inc., will kick off the event by sharing their inspiring career success stories.
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Personnel Announcements
Sarah M. Shekhter joins Seltzer Caplan McMahon Vitek
The San Diego-based law firm of Seltzer Caplan McMahon Vitek announces that Sarah M. Shekhter has joined the firm’s Litigation Department as an associate.
Shekhter is a trial attorney whose practice primarily focuses on complex business matters. She has successfully tried over 40 cases to jury verdict and resolved nearly 2,000 cases through negotiations, motion work and investigations. She is committed to helping corporations, officers and directors in a wide range of industries with their most challenging and sensitive legal disputes.
Prior to joining SCMV, Shekhter worked at the San Diego Public Defender’s Office for six years where she represented clients charged in high-profile cases, involving conspiracy, fraud, murder and other felonies punishable by life imprisonment.
Shekhter also served as a judicial extern to the Honorable Joyce L. Kennard of the California Supreme Court and worked as a law clerk for the International Criminal Tribunal for the former Yugoslavia.
She received her J.D. from the University of California, Hastings College of the Law and her B.A. from Northwestern University.
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Jeremy Gabe becomes newest faculty member
at Burnham-Moores Center for Real Estate
The Burnham-Moores Center for Real Estate at University of San Diego has added Jeremy Gabe, assistant professor of real estate, as the newest faculty member of the School of Business real estate program.
Prior to joining USD, Gabe served as a lecturer in real estate at the University of Auckland, where he specialized in research at the intersection of urban economics, environmental economics and urban planning. His research is published in leading journals, including the Journal of Property Finance and Investment and in Building Research and Information.
He was awarded research grants from government agencies and industry clients in New Zealand to explore methods and strategies of assessing green buildings and infrastructure. Gabe has served as a reviewer for a wide variety of academic journals and is a frequent consultant to the real estate industry. He is also a co-founder of the Future Leaders of the American Real Estate Society (FLARES) and serves on the board of the International Real Estate Society (IRES).
Gabe earned his degrees in civil and environmental engineering, architecture and real estate from Northwestern University and the University of Auckland.
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Anthony Chalifoux named member
of Balestreri Potocki & Holmes
Anthony Chalifoux has been named a member of the law firm Balestreri Potocki & Holmes. “We are pleased to welcome Anthony as a member,” said Thomas Balestreri, managing shareholder of the firm. “His knowledge and legal expertise, especially in the intellectual property arena, have become an invaluable asset to the firm and its clients.”
Chalifoux joined the firm as an associate in 2011 and attained senior attorney status in 2018. As a firm member, he will continue to represent a wide variety of clients in civil litigation and transactional matters with a particular emphasis in intellectual property law.
Balestreri Potocki & Holmes provides representation to a range of business clients with an emphasis in the legal advocacy and consultation of business owners and companies working in a wide range of construction, transportation and hospitality industries.
