Soundview Business Consulting

WELCOME to SBC's New & Noteworthy page, where you will find recent news about SBC and its clients, noteworthy information regarding various business topics and trends, useful web links, and more.

SBC NEWS 

New!    Once again, Brendan T. Guastella, principal of SBC, has been invited by the Brooklyn Economic Develpment Corporation to lead a series of Entrepreneurship workshops.  The sessions will be held at Kingsborough Community College this fall --- stay tuned for details!

*****

July '10   SBC handled the sale of Cafe Ducharme in Park Slope, Brooklyn to its new owners, who are re-opening shortly under a new name.  SBC assisted the parties with their negotiations and contractual matters, and has provided ongoing advisory services to the new owners.

*****

May '10    SBC is pleased to have successfulyy concluded the sale of the Bella Maria restaurant, 3rd Avenue, Brooklyn, on behalf of its client.  SBC provided a variety of services in support of its client, including negotiations with the buyer, document preparation, landlord negotiations, and more.

*****

Mar. '10    Thanks to the Brooklyn Economic Development Corporation (BEDC), the New York City Small Business Services, and to all those who attended the two-day workshop "Diagnosing the Health of Your Business," on March 24, and March 25, 2010, at Capital One Bank, 356 Fulton Street, Brooklyn, NY, conducted by  Brendan T. Guastella, principal of SBC. 

*****

Jan. '10  - SBC is pleased to have assisted noted restaurateur Rafael Palomino with the opening of his latest establishment, Black Rock Tavern, in Fairfield, CT.  Mr. Palomino currently owns and operates six restaurants in New York, Connecticut and Pennsylvania, and is planning new ventures in Virginia and Florida.

 *****

Nov. '09 - SBC successfully brokered the sale of Renaissance Java Cafe in Boerum Hill, Brooklyn.  The new owners will continue to operate the business under its current name.

*****

Sept. '09 -   Brendan T. Guastella, principal of SBC,  delivered a workshop on September 24, titled Understanding Cash  Flow, sponsored by the Brooklyn Economic Development Corporation (BEDC).  Brendan has previously conducted entrepreneurial training classes for BEDC's Summer 2009 LAUNCH program.

"Brendan, thank you for delivering an invaluable service to our clients....you've shown such care and dedication." -- Mercedes Gomez, Director, BEDC LAUNCH Program. 

For more information about BEDC programs and services, go to bedc.org.

*****

Sept. '09 -  SBC acted as broker for the sale of the restaurant  formerly known as Maki Sushi, on Fort Hamilton Pkwy, Windsor Terrace, Brooklyn.  The space is expected to re-open shortly as Brancaccio Food Store.  SBC located the buyer, negotiated the terms of sale, and worked with the landlord to obtain its consent to the sale.

***** 

Feb. '09 -  SBC was featured in The Brooklyn Ink's report on financial difficulties facing the local restaurant industry:  http://thebrooklynink.com/featured/restaurants-closing-shop  

NEWS, IDEAS AND TRENDS

Effective July 2010, NYC restaurancts will be subject to a letter grading system established by the City Health Department.  The grades (A, B, or C) reflect the sanitary conditions at restaurants and are required to be posted prominently where they can be readily seen by diners.  Inspections will begin in late July, although it is expected to take a full year before all of the city's 24,000 restaurants receive a grade.  Establishments receiving a grade of B or C will be eligible to either appeal or request a second inspection, during which they will be permitted to post a "grading pending" sign.

***** 

Are you a minority or women-owned business?  The Brooklyn Economic Development Corporation (BEDC) offers a comprehensive program to assist you in obtaining certification as a Minority/Women-Owned Business Enterprise, which will better position your company in the government market for goods and services.   To learn more about this program, contact the BEDC at mgomez@bedc.org.

*****

For many local businesses, energy costs can take a huge bite out of the bottom line.  Energy costs are unusually high in New York State due to high taxes and fees, and a regulation that requires utilities to use expensive natural gas rather than coal. Energy in New York costs 21.2 cents per kilowatt hour, while the national average is just over 10 cents.  Yet a recent study indicates that only about 1% of small businesses in New York City have tapped into a variety of federal and state programs that offer energy audits, grants and other incentives.  For example, ConEd recently launched a small business program offering up to $100 worth of energy-efficient equipment, but only a handful of businesses have taken up the offer. The program has funding for 6,000 customers a year, and can also pay for up to 70% of the cost of large-scale installations.  The reasons for these small business programs being so under-utilized?  The primary culprits appear to be poor marketing and time-consuming application requirements that scare off potential participants.  SBC believes that for many businesses the potential long-term cost savings makes it worthwhile to explore these energy programs.

 *****

Although franchises have not been immune to the recent economic difficulties, they remain a strong and potentially profitable alternative for the new entrepreneur.  In certain segments, franchises experienced strong growth in 2009, especially those that served the needs of belt-tightening consumers (think of Subway and its $5 footlongs).  Some of these opportunities also come with a relatively low cost of entry, including franchises in such areas as personal fitness, childrens' services and cleaning services.  For a wide ranging discussion of the franchising world, see the January 2010 issue of Entrepreneur Magazine at www.entrepreneur.com.

*****

A contentious battle is shaping up over a Paid Sick Leave bill introduced in the New York City Council.  The proposed bill would require all New York City businesses, regardless of size, revenue or nature, to provide employees with up to nine paid sick days. The bill further expands the definition of sick days beyond federal guidelines and penalizes employers ($1,000 per instance) if found in violation of the law - including any actions broadly considered retaliatory.  Although mandatory paid sick days may sound like a good idea to some, opponents claim the bill is is bad for business and employees because (a) many struggling small businesses cannot afford the additional expense; (b) it will lead to excessive absenteeism; (c) the bill prohibits employers from challenging the validity of an absence until the employee is out three days; and (d) employers will offset the additional costs by hiring fewer employees or scaling back other benefits.

***** 

The 2009 federal stimulus plan and small business initiative contain many programs and provisions designed to assist the small business community.  For example, did you know that anyone who buys stock in a small business between the enactment date of the stimulus package and 2011 is eligible for future capital gains tax breaks?  If the stock is held at least five years, 75 percent of any gain can be excluded - up from the current 50 percent – from an investor’s tax liability.   Contact SBC today to see if your business can take advantage of any of these new programs.

*****