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Business Report: Protecting A Business Upon Divorce

Posted onMarch 15, 2018March 15, 2018
Tammy Arquette is a matrimonial attorney at the Arquette Law Firm PLLC in Clifton Park. ©2018 Saratoga Photographer.com

By Tammy J. Arquette, Esq.

According to the American Psychological Association, approximately 40 to 50 percent of married couples in United States obtain a divorce. The divorce rate is even higher for subsequent marriages.

A divorce proceeding can have a significant impact on the financial and emotional well-being of the parties and their children, but if one or both of the parties are also a business owner, the business can be significantly impacted. The significant impact on the business can include financial disruption, discord amongst partners and employees, imposition of third party experts to review books and records and value the business, and the potential requirement for the sale of the business.

The Domestic Relations Law provides that assets that are acquired during the marriage, including businesses, be valued and equitably distributed. Further, marital asset may also include the appreciation in value of an otherwise separate business interest.

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Minority And Women Owned Business Enterprises Program Expanding In NYS

Posted onMarch 15, 2018March 15, 2018

Gov. Andrew M. Cuomo has announced legislation to reauthorize and to expand the MWBE Program to more contracts entirely funded by the state.

The proposed legislative changes and expansion to include all state-funded contracts would leverage the largest pool of state funding in history to combat systemic discrimination and create new opportunities for MWBE participation at every level, according to Cuomo.

Since 2011, state-certified MWBEs have won more than $10.4 billion in state contracts and the state has certified more than 6,600 MWBEs and re-certified more than 4,700 MWBEs.

“In New York, we know that our economy is strongest when everyone is empowered to participate, which is why we continue to work to increase access and opportunities to success for minority and women owned businesses to strengthen and diversify our economy,” Cuomo said. “These actions will break down barriers to success and empower these business owners to help fuel our economy and move this great state forward.”

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Roberta Berkowitz Provides Forensic Supplies And Equipment To Customers Across The U.S.

Posted onMarch 15, 2018March 15, 2018
Roberta Berkowitz started Prendo Forensics LLC in Bolton Landing in 2010.
Courtesy Prendo Forensics

By Maureen Werther

Roberta Berkowitz started Prendo Forensics LLC in 2010 after a 25-year career in sales and management. Since that time, the company has received several Woman and Minority Owned Business Enterprise (WMBE) certifications on the state and national level, allowing her business to be eligible to bid on state and federal contracts.

Prendo Forensics LLC, in Bolton Landing, provides forensics and digital-related supplies and equipment to local, state and federal government agencies, as well as to colleges, universities, high schools and BOCES training programs. Berkowitz describes her company as a “sole source provider,” which means that clients can order a broad range of equipment and supplies from a variety of manufacturers through a single distributor.

She sells law enforcement supplies and forensic products for crime scene investigations and training.

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Deborah Roberts Puts Her Education To Work At Her Environmental Consulting Company

Posted onMarch 15, 2018March 15, 2018
Deborah Roberts formed the Roberts Environmental Consulting company in 1994. She can help guide developers through environmental issues and suggest ways to remediate problems.

By Jill Nagy

Wetlands scientist and ecologist Deborah Roberts is used to being called in at the beginning, the middle and the end of various projects.

Her company, Roberts Environmental Consulting in Queensbury, can warn a potential developer of environmental constraints on a planned project; can help guide a developer through environmental issues during the course of a project; and, if necessary, can suggest ways to remediate environmental blunders.

Roberts formed the company in 1994, after several years working for a large company in the Boston area. She moved back to the area where she grew up when her children were in grade school. She then set up shop on her own.

Today, with those children long since grown and gone, she still relishes the independence of her own company, the flexibility and the control she has over her projects.

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Area Chapter Of National Association Of Women In Construction Meets On March 27

Posted onMarch 15, 2018March 15, 2018

The Capital District Chapter of the National Association of Women in Construction (NAWIC), a nonprofit organization serving women in the construction and related industries, invites New York State Minority and Women-owned Business Enterprises (MWBE) to showcase their businesses at the third annual NYS MWBE Showcase this month.

The event is set for 5-8 p.m.  Tuesday, March 27, at the Century House in Latham.

Following Gov. Andrew Cuomo’s 2014 mandate to increase statewide MWBE utilization goals to 30 percent for all state contracts, it is crucial for businesses that are at least 51 percent owned, operated and controlled by women or minorities to get certified and market themselves as certified businesses. 

The annual showcase will create an avenue for MWBEs to not only market themselves to representatives from state agencies, architects, subcontractors, owners, developers and engineers, but also give them a chance to network with other MWBEs in the state. 

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CEG Engages Itself With Local Agencies To Promote North Country Economic Growth

Posted onMarch 15, 2018March 15, 2018
Andrew Kennedy, president and CEO of the Center for Economic Growth.

By Maureen Werther

As the economic climate in Warren and Washington counties continues to heat up, more businesses are being attracted to the area’s diverse commercial sector. The Center for Economic Growth (CEG) is one of several entities working hard to make things happen.

CEG is one of several organizations working with already established businesses to support them as they grow. They market the area to potential new companies whose technologies, services and manufacturing will be a good fit with the existing businesses.

The $10 million revitalization initiative awarded to the city of Glens Falls last year has helped to spur continued growth in the region. More people are moving to the two counties seeking an enhanced quality of life, sustainable employment and access to good education and health care.

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Washington County Local Development Corp. Loan Program Helps Businesses Start, Expand

Posted onMarch 15, 2018March 15, 2018
Deanna Derway is president and executive director of WCLDC.
Courtesy WCLDC

By Jennifer Farnsworth

Washington County Local Development Corp. (WCLDC) has been hard at work, providing support and resources for those looking to do business in the North Country.

Deanna Derway, president and executive director of WCLDC, said their programs provide a path to success, creating an environment for an economic outlook that will continue to thrive.

“We have a very successful and diverse loan portfolio that we are continually expanding,” said Derway.

For over 30 years WCLDC, a nonprofit corporation, has administered the county’s economic development programs. The goal of the organization is to create and retain employment, strengthen the economy, and increase the value of real property.

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EDC Lauds Broadband Expansion Grants As ‘Key Economic Development Initiative’

Posted onMarch 15, 2018March 15, 2018

New York state has awarded $43.6 million in New NY Broadband Program Round III grants in the region, including numerous awards in Warren and Washington counties.

The awards will drive more than $71 million of public-private broadband investment and provide 19,774 homes and other locations in the region with access to high-speed internet, state officials said.

EDC Warren County President Ed Bartholomew—who considers broadband a key economic development initiative—lauded the efforts of Gov. Andrew  Cuomo and other representatives in promoting and supporting the region’s goal in achieving access to internet download speeds of at least 100 megabits per second and 25 megabits per second in the most rural and remote areas.

“This award will significantly improve the internet speed and accessibility for businesses, residents, children’s school homework and tourism who desire to extend their vacation time and presently are unable to do so as a result of lack of connectivity,” Bartholomew said.

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Business Briefs: March 2018

Posted onMarch 15, 2018March 15, 2018

The Women in Business group of the Lake George Regional Chamber of Commerce is sponsoring an American Red Cross Blood Drive on March 22 at the Holiday Inn Resort at 2223 Canada St. in Lake George.

People can sign up to donate at redcrossblood.org.

On April 21, the group will help Double H Ranch during its annual Spring Clean Up Day from 9 a.m. to 1 p.m. Interested volunteers in the group may contact Women in Business co-chairperson Toni Cunningham at tcunningham@nathealthcare.com to sign up.

* * *

The Adirondack Regional Chamber of Commerce (ARCC) Leadership Adirondack class of 2018 presented a check for $13,000 to the Open Door Mission at the graduation ceremony in February at the Great Escape Lodge.

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Wood Foundation Lists Grants Awarded In 2017, Seeks Applications For Awards In 2018

Posted onMarch 15, 2018March 15, 2018

The Charles R. Wood Foundation is currently accepting grant applications from IRS approved 501(c)3 organizations whose projects or programs assist children, healthcare or the arts in the Lake George region and surrounding areas.

Eligible applicants are invited to visit www.charlesrwoodfoundation.com to submit an online application by April 1 for consideration at the spring meeting of trustees.

The next subsequent deadline will be Sept. 1 for consideration at the fall meeting.

Over the past five years the foundation has awarded over $7.8 million.

“We are so pleased to be able to invest in such worthwhile projects. From the smallest soup kitchens to the larger capital projects, we are committed to investing in children, healthcare and the arts in our geographical focus area”, said Charlene Wood, foundation chairperson.

Charles R. Wood established the foundation that bears his name in 1978 to provide assistance in areas of special need in the region. Grants are awarded to nonprofit organizations with an emphasis on programs for children, healthcare and the arts.

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