BRIST L COUNTY BUSINESS NEWS The Official Publication of the Bristol County Chamber of Commerce, Inc.
June 2018 Edition
The Voice of Business Since 1911 www.bristolcountychamber.org
Join us for the 50th Annual Bristol County Community Service Awards Banquet in memory of John S. Brayton, Jr.
Welcome New Chamber Members Edible Arrangements Charles Schwab, Boston, MA Charles Schwab & Co., Inc. Portsmouth, RI Vital Nutrition Staples Fall River, MA Stony Creek Farm
Plum Direct Marketing Showcase Auto & Truck Nice Tint, Inc. Home Mobility Pros Harry’s Restaurant
Board of the Fall River Fire Museum
Trustees, Volunteers & Staff of the Fall River Public Library
SAVE THE DATES: September 27th, 2018
Bristol County Battle of the Cupcakes
Thursday June 14, 2018 • White’s of Westport (Reception at 5 p.m., Program at 6 p.m.) $45 per person / $450 table of ten • $550 Corporate Table Sponsors For more information, or to register, please call (508) 676.8226
October 10th, 2018
Bristol County Business Connector 2018
Bristol County Business News PUBLISHER Kimberly Coroa Moniz, Interim Director MANAGING EDITOR Jennifer Lourenco, Communications Manager ADVERTISING MANAGER Kimberly Coroa Moniz, Interim Director The “Bristol County Business News” is produced monthly by the Bristol County Chamber of Commerce, Inc. The opinions featured in this publication do not necessarily reflect the views of the Chamber staff, nor of the members of the Chamber Board of Directors. This newspaper is printed at Mallard Printing. All letters to the editorial page must be signed and include a phone number. All submissions are welcome and should be sent via email to: firstname.lastname@example.org
MISSION STATEMENT The mission of the Bristol County Chamber of Commerce, Inc. is to be the primary business and community information source for its members and the public to provide networking opportunities for its members; and serve as an advocate, on behalf of its members, at the local, state and federal government levels.
Bristol County Chamber of Commerce, Inc. 200 Pocasset Street, Fall River, MA 02721 Phone: (508) 676.8226 Fax: (508) 675.5932 www.bristolcountychamber.org 2
2018 OFFICERS & EXECUTIVE COMMITTEE: Chair of the Board: Brian LeComte, Gold Medal Bakery Immediate Past Chair: Carl Garcia, Carl’s Collision Center Chair Elect: Bill Perkins, People, Incorporated First Vice Chair: Eileen M. Danahey, Saint Anne’s Credit Union Second Vice Chair: Nick Christ, BayCoast Bank Treasurer: Matthew Schondek, Fall River Municipal Credit Union Clerk: Curtis Nelson, Nelson Insurance & Financial Services Interim Director: Kimberly Coroa Moniz BOARD OF DIRECTORS: Term Ending 2018 Carmen Aguilar, Bristol Community College Monte Ferris, Venus de Milo Anthony Medeiros, Mechanics Cooperative Bank Marty Monteleon, Individual Arthur Pacheco, New York Life Jason Rua, RDA Insurance Dawn Rusin, Re/Max Right Choice Term Ending 2019 Mike Bushell, St. Anne’s Hospital Bill Burns, Southcoast Health System Catherine Dillon, BankFive Charlie Fellows, LaFrance Hospitality Melody Lavoie, Medeiros, Lavoie & Wilson, Inc. Doug Rodrigues, D.E. Rodrigues & Company, Inc Matt Zenni, Liberty Utilities Term Ending in 2020 Linda Baker, Baker Signs Works LoriAnn Taylor Branco, Center for Sight Roger A. Cabral, Bristol County Savings Bank Michael Lund, Borden Light Marina Scott O’Brien, O’Brien’s Plumbing & Heating, Inc. Carl Sawejko, Sawejko Communications Rick Manuels, Spindle City Auto Glass EX-OFFICIO MEMBERS: Frank Marchione, President, FROED Kenneth Fiola Jr., Esq., Executive Vice President, FROED CHAMBER STAFF: Kimberly Coroa Moniz, Interim Director Brianna Rebelo, Manager of Operations & Finance Joe Trilling, Manager of Membership Development Jennifer Lourenco, Communications Manager
The Massachusetts Small Business Center (MSBDC) Network provides on-to-one free comprehensive and confidential services focusing on, business growth and strategies, financing and loan assistance as well as strategic, marketing and operational analysis. In addition, low cost educational training programs are offered across the state targeted to the needs of small business. Massachusetts Small Business Development Center Network 200 Pocasset Street, Fall River, MA 02721 Phone: (508) 673-9783 Fax: (508) 674-1929 www.msbdc.org
Melinda Ailes Senior Business Advisor Clifford Robbins, Senior Business Advisor Daniel Lilly Government Sales Advisor Anne Fenton Client Services Coordinator Alison Moriarty Administrative Assistant Jill Beresford Senior Business Advisor Nancy Lowd Senior Business Advisor
JUNE 2018 CALENDAR
All meetings are held at the Chamber unless otherwise noted
6/8 FRI...................................Education Committee Meeting 11:30 a.m.
6/14 THURS.................Community Service Awards Banquet Location: White’s of Westport 66 State Road Westport, MA 5 p.m.
6/18 FRI......................................Government Affairs Meeting Location: Charlton Memorial Hospital 8 a.m.
6/25 MON...............................Executive Committee Meeting 12 p.m.
6/27 WED.........................................................Board Meeting 11:45 a.m. 6/27 WED...............................................Business After Hours Sponsored by: St. Anne’s Credit Union Location: The Cove 392 Davol Street Fall River, MA 5 p.m. - 7 p.m. (Don’t forget to pre-register to be entered into a special drawing.)
IN THIS EDITION
Page(s) 4, 6, 7, 8, 9, 13
Chamber in the Community
Page(s) 10 & 11
Page(s) 6, 15 & 16
Page(s) 18 & 19 3
Saint Anne’s Hospital Receives 2018 Women’s Choice Award as One of America’s Best Hospitals for Cancer Care
Fall River, Mass. – For the third year in a row, Saint Anne’s Hospital been named one of America’s Best Hospitals for Cancer Care by the Women’s Choice Award, America’s trusted referral source for the best in healthcare. Saint Anne’s Hospital is one of 412 award recipients representing the hospitals that have met the highest standards for cancer care in the U.S. by the Women’s Choice Award. The award signiﬁes that Saint Anne’s is in the top 8% of 4,789 U.S. hospitals offering cancer care services. A hospital must be designated by the American College of Surgeons’ Commission on Cancer Classiﬁcation as one of four speciﬁc types of cancer programs to be considered for the award. The Women’s Choice Award measures hospitals on the presence of speciﬁc cancer-related services offered onsite, infection rates, and patient recommendation ratings on the Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) Survey. The award is unique in that criteria also include primary research about women’s healthcare preferences. “For more than 40 years, Saint Anne’s Hospital has offered cancer care services that meet or exceed national standards,” said Carole Billington, MSN, RN, NEA-BC, the hospital’s chief 4
operating officer and chief nursing officer. “Not only do our advanced clinical services enable us to care for a wide range of cancer diagnoses, but our highly trained physicians, oncology-certified nurses, and support professionals work with patients through diagnosis, treatment and survivorship to ensure the best possible outcomes, with compassion. We are proud to once again accept the Women’s Choice Award as a testament to our team’s expertise and our patients’ confidence in their care.”
their compromised immune systems.
“Women will search on their own for the best cancer care,” said Delia Passi, founder and CEO of the Women’s Choice Award. “According to our own survey, nearly two-thirds of women would do their own research vs. letting a doctor choose a hospital for their cancer care. The Women’s Choice Award makes it easier for them to make conﬁdent decisions.”
For more information about the America’s Best Hospitals for Cancer Care, please visit www.womenschoiceaward. com/awarded/best-hospitals/cancer-care.
Accreditation required for the award ensures that a hospital or facility offers a full range of diagnostic and treatment services, or provides integrated cancer care and comprehensive services. Accreditation also signiﬁes that the facility participates in cancer-related clinical research. Low infection rates compared to the national average are another important measure. Oncology patients are more susceptible than other patients to hospital-acquired infections because of
Passi emphasized that Saint Anne’s Hospital and all America’s Best Hospitals for Cancer Care deliver on the care that matters most to women. “In addition to our award winners’ high-level performance on a national level, they provide the care that women value most, including easily accessible services onsite to avoid multiple trips for their treatment, which is so important to women faced with a cancer diagnosis,” she said.
About Saint Anne’s Hospital Regional Cancer Center Founded in 1976 at Saint Anne’s Hospital, Saint Anne’s Hospital Regional Cancer Center provides expertise with the care and convenience of a community setting to patients in the Greater Fall River-Greater New Bedford area. With two full-service locations in Fall River and Dartmouth, the center provides comprehensive medical oncology and hematology care; radiation oncology services provided in collaboration with radiation physician specialists from Brigham and Women’s Radiation Oncology Associates who hold appointments at Brigham and Women’s Hospital and Dana-Farber Cancer Institute; access to national clinical trials; and professional and patient/family support services. Saint Anne’s Hospital Regional Cancer Center is nationally accredited with commendation by the Commission on Cancer of the American College of Surgeons as a comprehensive community cancer program and unconditionally accredited in radiation oncology by the American College of Radiology.
Mallard Printing is proud to partner with the Bristol County Chamber of Commerce for the printing of this newsletter. 657 quarry street fall river, ma 02723 p 508.675.5733 mallardprinting.com
For all your
Member Spotlight: Fluid Professional Bartending Services
St. Anne’s Credit Union Offers Assistance to Make Homeownership a Reality
HUD meridian income based on their future address to qualify for assistance. Restrictions apply. Speak to a representative today to learn more.
Planning a party/event/wedding/corporate function and don’t want the added stress of having to worry about your guests? We are a professional mobile bartending service with 10 plus years’ experience in the industry. Would you like to have your own signature cocktail at your event or party? Fluid’s experienced bartenders will help you come up with the perfect drink to set your event apart from the rest. Fluid strives to create a positive and fun experience for your guests while allowing you the freedom to enjoy your own event. Fluid’s basic package includes 1 hour set up, 3 hours bartending service, garnishes and 1 hour breakdown and cleanup (unless additional hours are requested). We will also dress in the attire of your choosing or in our attractive company uniform. Book your event now and ‘live every hour like its happy hour.’ For additional information please contact: Fluid Professional Bartending Services (508) 567.1560 www.facebook.com/FluidBartendingServices/ 6
Fall River, MA – St. Anne’s Credit Union recognizes the various challenges associated with purchasing a home and can provide assistance as an approved member of the Federal Home Loan Bank of Boston’s Equity Builder Program – a program assisting local income-eligible homebuyers in purchasing homes they intend to occupy as their primary residence. The program offers grants for down payment and closing costs, rehabilitation costs associated with acquisition, and reimbursement of homebuyer counseling programs. Borrowers are eligible to receive up to $11,000 on a first-come, first-served basis, and must complete a homebuyer counseling program and have individual or household income equal to or below 80 percent of the
Since 2003, the Equity Builder Program (EBP) has awarded more than $35 million in EBP funds assisting 3,150 income-eligible households in purchasing a home. Eligible to receive up to $110,000 for 2018 depending on the availability of funds, St. Anne’s Credit Union can offer members the assistance they need to make homeownership a reality. Please visit www.stannes.com or stop by one of their branches to learn more.
BayCoast Bank Partners with BCube Analytics Inc. to Manage Regulatory Compliance for the Bank and Affiliates
The partnership with BCube Analytics also fits into BayCoast Bank’s efforts to focus on the communities in which they serve, with special focus on the South Coast of Massachusetts. BCube Analytics is headquartered at the UMass-Dartmouth’s Center for Innovation and Entrepreneurship, based out of Fall River.
SWANSEA and FALL RIVER, MA -BayCoast Bank recently announced that on May 1st it partnered with BCube Analytics, Inc. to help BayCoast Bank and its affiliates address compliance challenges as it expands its footprint across the country. Since the Bank’s operations are expanding throughout 16 states, the use of traditional solutions will result in significant increases in the effort and cost of compliance. With the BCube Compliance Delivery Platform (CDP), major challenges in compliance including rule management, requirement assessments & implementation and demonstration of compliance are simplified. The CDP serves as an enterprise compliance hub that improves control, firm-wide visibility and transparency for department and business unit managers as well as senior management and the Board. BCube is in the process of customizing the CDP to meet the specific needs of BayCoast, and the solution will be rolled out over the next several months.
“We are proud to be affiliated with an outstanding organization like BayCoast, which has done so much for the region. We are excited to work with the Bank and its affiliates to bring RegTech to the South Coast,” said Saji Nair, Founder and CEO of BCube Analytics, Inc. “We are glad to have the opportunity to provide our compliance solution at the bank to help reduce the time, effort and cost of compliance and to help transform their program to meet these challenges as the bank grows.” “As BayCoast Bank continues to expand, we are excited to partner with a neighbor organization that can help us meet our regulatory compliance requirements,” said Nicholas Christ, President and CEO of BayCoast Bank. “We look forward to commencing this relationship and continue to better our organization, for the benefit of all.”
through 18 branches and three loan offices throughout southeastern MA and RI. Additional services are offered through the Bank’s affiliates: BayCoast Financial Services, Plimoth Investment Advisors, Partners Insurance Group, LLC, BayCoast Mortgage Company, LLC, and Priority Funding LLC. Nicholas Christ is the Bank’s President and Chief Executive Officer. Visit www. BayCoastBank.com or call 508-6787641 or 888-806-2872. About BCube Analytics, Inc. BCube Analytics, Inc. provides a cloudbased regulatory compliance solution, the BCube Compliance Delivery Platform (CDP) that serves as an enterprise compliance hub and is a new paradigm to manage the implementation of rules across any jurisdiction, regulatory agency or industry vertical. The solutions are cloud-based and designed to reduce the burden of compliance for regulated firms and to help consultants and others deliver their services more efficiently. Founded in 2011, BCube is headquartered in the UMass Dartmouth Center for Innovation and Entrepreneurship in Fall River, Mass. For more information, please visit www.bcubeanalytics.com or call 617-944-2823.
About BayCoast Bank BayCoast Bank is mutually-owned, serving the needs of consumers, businesses, non-profits and municipalities
SBDC Southeast Regional Office, University of Massachusetts Isenberg School of Management Receive Honors
BOSTON – The Small Business Administration (SBA) has named the Southeast Regional Office of the Massachusetts Small Business Development Center, the winner of the 2018 SBDC Service Center Excellence and Innovation Award for Massachusetts and New England. The Southeast Regional Office of MSBDC earned the recognition for exceeding goals while understaffed, working successfully as a cohesive team, and developing a variety of training and outreach programs designed specifically for businesses in the region. The Southeast Regional Office is an advising center of the MSBDC Network and in addition to support by the SBA, receives
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additional financial support from the Commonwealth of Massachusetts and the Isenberg School of Management at the University of Massachusetts Amherst. The office serves all of Southeast MA, including Cape Cod and the Islands, along with the Greater Boston area. The Center currently hosts one-on-one advising sessions at 16 outreach sites throughout the region. “At the core of the Southeast Regional Center’s effectiveness are the amazing employees,” said SBA Massachusetts District Director Robert Nelson. “Although staffing challenges posed issues, they worked together as a team to surpass their goals and assist small businesses in need of assistance. We recognize all of the hard-working efforts put into this year by the entire team." During FY17, the team at the Southeast Regional Office under Cliff Robbins’ coordination facilitated over $7.5 million in financing for clients – representing 12.41% of the total financing secured statewide. They also achieved 46 business starts, the highest of any service center in the state. The team maintains a large geographic territory with its 16 outreach sites – providing advisory services to over 500 clients. The Southeast Regional SBDC services clients with not only traditional one on one business advisory ser-
vices, but also international trade/ export assistance, help with government contracting and sales, plus also Small Business Innovation Research (SBIR) grant funding opportunities. The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. "Kudos to the SE Mass Regional Center for receiving this award. The professionalism, teamwork, dedication and passion for small business by each individual in the office has contributed to their success, “said MSBDC State Director Georgianna Parkin. “They are truly a valued resource for small business." The Southeast Regional Office of the MSBDC was honored at the annual SCORE Boston / SBA awards luncheon along with other 2018 Massachusetts Small Business Week winners at the Sheraton Needham Hotel on Friday, May 4th, 2018. About the U.S. Small Business Administration The U.S. Small Business Adminis
tration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov . Southeast Regional Office Call today, 508.673.9783, to schedule an appointment with a business advisor. (Pictured left to right) Robert H. Nelson, SBA Massachusetts District Director Wendell G. Davis, SBA New England Regional Administrator Massachusetts Lieutenant Governor Karyn Polito Clifford Robbins, Ph. D., Senior Business Advisor Southeast Regional Office Jill Beresford, Senior Business Advisor Southeast Regional Office Nancy Lowd, Senior Business Advisor Southeast Regional Office Anne Fenton, Client Services Coordinator, Southeast Regional Office Alison Moriarty, Administrative Assistant, Southeast Regional Office Melinda Ailes, Southeast Regional Office 9
Chamber in the Community
Business After Hours Amaral Associates (April 25th, 2018)
Spring 2018 Job Fair Government Center Fall River, MA (May 2nd, 2018)
Somerset Tours & Travel Grand Opening/Ribbon Cutting Swansea, MA (May 3rd, 2018)
Bristol County Chamber of Commerce Ambassadorâ€™s Luncheon Barrettâ€™s Waterfront Fall River, MA (May 18th, 2018)
Maytag Commercial Laundry Celebrates Investment in the Industry and new Product Launch Whirlpool Corporation Fall River Manufacturing Facility (May 1st, 2018)
Kappyâ€™s Grand Opening/Ribbon Cutting SouthCoast Marketplace Fall River, MA (May 10th, 2018)
Chamber in the Community
Business After Hours Mallard Printing (April 25th, 2018)
Jersey Mikeâ€™s Grand Opening/Ribbon Cutting SouthCoast Marketplace Fall River, MA (May 22nd, 2018)
From “chalk and talk” to makerspace in Fall River schools room. These areas are not only about the physical task of producing an item but a shift in the mindset. No longer are students just consumers of knowledge but now they are also the creators.
Early reports from the Greater Fall River Early Intervention Group show that 45 percent to 50 percent of kindergarten students are arriving with significantly limited skill sets. In years past, our students were proud to identify their letters and shapes on the first day of school. This is no longer the case as half are unabl e to do either. Our children no longer experiment with crayons, scissors and words. Instead, they are masters of technology. They need to point their finger and swipe across a screen. This is having dramatic effects on their academic career. So what are we doing about it? The days of chalkboards and teachers standing at the front of the class are in our rear view mirror. In its place: hands-on learning. Education leaders have moved to a new way of thinking called “makerspace.” A makerspace is an educational space in which students learn with their hands. They actually get to build, create and invent utilizing resources located in one 12
On a recent learning walk at Tansey Elementary School, I toured one of the district’s first makerspaces. Christopher Audette, the principal, says, “Our makerspace has become the heart of our community at Tansey. We have our share of high-tech gadgets like robots and 3D printers, but it’s really the lowtech materials that students gravitate towards in design challenges. Families drive the space by sending in recycled materials like cardboard, coffee cans, and egg cartons. Students transform these items into solutions to real world problems, like: How can we build a more inclusive recess yard? Or: What can we do to restore an endangered habitat?” I absolutely saw this. Upon entering the room, I immediately wanted to start touching everything. The walls were made of Legos where students could build. Different tables had all types of materials. I sat down with a second grade student who was using construction paper, flexible ties and tape to create a flower garden. She explained that she was presenting on what happened to flowers when the weather changed. At another table, students were manipulating their bodies in front of a green screen. Their hope was to perform about seasons.
Following their time in the makerspace, students returned to class to write about their findings. All I saw were smiles. I don’t think they knew how much learning was taking place as they created. As our world changes, so does our role in planning and delivering lessons. No longer do we have teachers working in silos, but collaborating and providing opportunities for students to explore and create. Audette summed it up best when he stated, “There are no behavior issues in the makerspace. Our most challenging students consistently thrive and shine in this space. Students are truly engaged when given opportunities to make as design thinkers. It’s not the magic of the space, but it’s the magic of the maker mindset of students as design thinkers.” Our students are not looking for the right answer, but instead are discovering solutions. Through this process they fail often but persevere to see success, even if it is a construction paper flower garden. Julia Carlson, Ed. D, is the assistant superintendent of the Fall River Public Schools and member of the Education Committee for the Bristol County Chamber of Commerce.
Small Business Advice: Networking Made Simple
As I was preparing a talk for the Washington State Biz Fair this Saturday, I realized that the idea of networking can be intimidating to a lot of people. When the topic of networking comes up generally there are long sighs. It can be people’s least favorite thing to do - myself included. However, we need to think about it differently. It’s really about making connections that will help you and your business, so what’s not to like? The problem is that most of us are not good at it and not comfortable with it. I’ve been told I’m a good networker and that would be an accurate statement. What I can tell you is that up until a few years ago I didn’t like it much at all, but did it because I knew it was necessary. Networking is really making connections and meeting people who might be able to connect you to the people or things that you are seeking. It’s dating for business. Why are we typically so bad at it? Let’s be honest, most of us don’t like going up to strangers and making chitchat. It’s awkward and in most cases, a bit of a waste of time. Because we dread it we don’t prepare, and guess what? The outcome we get is exactly what we expected, bupkis. Let’s start with purpose, preparation and then some tactics to make this necessary venture more successful. First, identify the
purpose of why you’re attending the event or gathering. What do you want as an outcome? What would make it worth your time? Once you’ve defined your purpose, then you need to make sure your elevator pitch is “pitch perfect.” Not a 2 minute ramble about you and your business, but a very short succinct message with name, business and one sentence about what your business does e.g. “we provide connections for architects and talent.” Short and sweet and to the point. The other preparation piece is your “ask.” What do you want? “I want connections to architectural firm leaders who need help finding talent.” Remember, it’s not going to be the person you are talking to, it’s going to be who they know, and so on. That’s networking. Casting a wider net that works for you. Now that you have those two items defined, how do you start? It’s about asking the right questions. You want to make sure they are open ended vs. close ended, (meaning yes or no questions). “Do you have kids?” is a pretty hard stop when the answer is “no.” “What brought you here today?” doesn’t have a wrong answer and gets the conversation started. Other good starters: • • • •
Tell me about your business? What are you hoping to find today? Who were you hoping to meet? Where are you originally from?
Remember, it’s about them, not you. You will get what you need after you build some trust with them. The best advice I ever received for networking was to go to the person that is standing alone because they are likely as uncomfortable as you are. Don’t crowd into several people engaged in conversation, it’s annoying. Once you’ve established rapport, then it’s time to ask for what you want. After that, thank them and offer to make an introduc-
tion or say you need to catch someone before they leave and move on. The event will fly by, you’ll have had a little fun, and you just may come away meeting your goal and having some valuable new connections for you and your business. *photo credit: MyTudut via photopin cc
Mary Marshall’s passion is helping entrepreneurs and executives achieve their dreams. She’s been a CEO, an owner and chief cook and bottle washer. She’s been a Vistage Chair, Member and Executive and coached leaders to find their own success. In 2014, her first book, “Putting Together the Entrepreneurial Puzzle: The Ten Pieces Every Business Needs to Succeed” was published as a collection of the most common problems that hamper small business success. Mary’s current role is as the Principal of Marshall Advisors, LLC which is a consulting practice in Seattle focusing on strategic planning, CEO and Executive coaching and leadership development. She speaks on Intentional Culture for organizations nationally. Interise and BCCC will be partnering for the Fall 2018 to offer a 7-month “Business Bootcamp” professional development course, “The Streetwise MBA”, for Bristol County entrepreneurs to develop a strategic growth plan for their business while expanding their professional network of small business owners in the region. 13
Financial Advice: Saving Strategies for the Gig Economy
If you’re one of the growing legions of gig workers, freelancers, or commission-based employees, your income stream might feel a bit like a roller coaster. And that can make it tough to save for retirement. “More and more people are participating in the gig economy,” says Donna Peterson, Retirement Income Strategist at Wells Fargo Advisors. “It’s a challenge to figure out how to save when you only make a small amount one month and a large amount the next month.” A challenge, but an important one to overcome. Make saving a monthly must-do. Peterson suggests that people with variable income make retirement savings part of their monthly budget. “Consider retirement savings as one of those (expenses) that occurs on a monthly basis,” she says. To find the right amount to save, she says, “you need to determine what amount you can or should save for the year and then convert that into a percentage of the income you expect to receive.” With each payment you receive, Peterson 14
suggests that you set aside that percentage in a separate account that you won’t use for expenses. Transfer those funds into a retirement savings account, such as a traditional or Roth individual retirement account (IRA), either once a month or when each payment comes in. Peterson says 15% of income is a commonly cited rule of thumb for retirement savings, but ideally, you'd consult with your financial advisor to determine how much you should be saving based on your circumstances.
PLE IRA (Savings Incentive Match Plans for Employees) allow significantly higher contributions.
Know your investment options. There are multiple ways workers with variable incomes can save. Gig workers with spouses who have steady paychecks might ask their spouses to contribute the maximum to their qualified employer sponsored retirement plan (QRP), such as a 401(k), 403(b), or governmental 457(b).
Stick to your plan. Whatever the method, consistency is the key. “Keeping that consistent percentage is a good strategy to help ensure that you’re doing all you can to save the right amount for retirement,” Peterson says. “Never assume you’re going to make it up the next month.”
You and your spouse could also contribute to an IRA as long as you both have earned income. However, IRAs, like QRPs, have limits. In 2017, the total IRA contribution limit is $5,500 ($6,500 for those age 50 or older) per person. You can contribute to a Traditional IRA up until the year you turn 70 ½. Contributions to Roth IRAs are allowed at any age as long as you are at or under the modified adjusted gross income (MAGI) limits. Your tax advisor and financial advisor can help you understand what kind of IRA may be best for you. If you and your spouse have both maxed out your IRA contributions, you can still save more, if you are a business owner. “You could set up a business plan and get access to higher limits,” Peterson says. SEP (Simplified Employee Pension) and SIM-
These kinds of plans, however, must be offered to all employees of the business, so they can cost more if you have employees. Even if you can’t save more in a retirement account, Peterson adds, you can still save in taxable accounts or consider annuities. Any savings, no matter the source, can be used to fund your future retirement.
This article was written by/for Wells Fargo Advisors and provided courtesy of Nelson Dias, Financial Advisor in Providence, RI at 401-4596872. www.wfadvisors.com/nelson.dias Investments in securities and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. © 2018 Wells Fargo Clearing Services, LLC. All rights reserved.
Member Spotlight: Stony Creek Farm Established in 2003, Stony Creek Farm offers a farm experience for the entire family. Enjoy a picnic, a petting zoo and a stroll around our farm all free of charge. Stony Creek Farm is dedicated to bringing families back to the farming roots of our community. We are also the home of the Swansea Farmers Market at Stony Creek Farm which was started in the summer 2016 to help bring the community together. Nestled on the banks of the Cole River, Stony Creek Farm is situated on almost 40 acres in the quaint town of Swansea, MA.
All chamber members are entitled to $5.00 in Farm bucks redeemable at the Stony Creek Farm table at the farmers market to any of our vendors or even for Sunday Brunch every Sunday from 10 am to 2 pm beginning June 3rd. 1210 Wilbur Ave Swansea, Massachusetts (401) 465.4832 www.stonycreek-farm.org
We feature local vendors and non-profits to help promote small businesses!
Your business success is our personal commitment.
Our Fall River commercial lending team is ready to help your business grow. As the #1 small business lender in Bristol County* and an SBA Preferred Lender, we're known for great personal service, prompt, local decision-making and custom banking solutions. To discuss your financing needs, call 508-993-3472 or visit one of our branch locations. L-R: Roger Cabral, VP Commercial Lending; Joan Medeiros, VP Commercial Lending; Pete Selley, SVP Commercial Lending; Len Sullivan, First EVP & Sr. Loan Officer; Rich Farmer, VP Commercial Lending; & Michael Patacao, VP Commercial Lending.
Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).
*Based on total loan originations as reported in the 2015 aggregate small business loan data to the Federal Reserve under the Community Reinvestment Act.
Member Spotlight: Prism Energy Services
Member Spotlight: Kappyâ€™s Fine Wine & Spirits
Prism Energy Services identifies, designs and installs turnkey energy efficient measures for commercial, industrial and municipal customers. Prism partners with electric and gas utilities throughout New England to provide no cost energy audits, new equipment discounts, up front utility incentives and financing to underwrite those capital improvements. Prism experience includes energy efficient projects for offices, healthcare, colleges and universities, municipalities, waste water, retail, banking, manufacturing, warehouses and sports facilities including health clubs, pools and ice rinks. Prism Energy Services mission is to provide owners and management of commercial facilities with cost-effective energy efficiency solutions, conducting business according to exacting technical and ethical standards, while focusing on the long-term relationship that adds value for our customers.
Prism Energy Services 1150 Hancock Street Quincy, MA 02169 (617) 328.9896 www.prismenergyservices.com
Kappyâ€™s Fine Wine & Spirits is a fourth generation Massachusetts family business whose success is based on the ideals of exemplary customer service, great product selection and every day low prices. We are proud to be a Massachusetts leader in these categories and look forward to being a part of Fall River and the South Coast communities. Our owner Brian Moore, has decades of successful experience with Kappy's Fine Wine & Spirits retail stores throughout Massachusetts and looks forward to continuing the over 75 years of success at our new location in the SouthCoast Marketplace. Our brand new, bright, and fully stocked store will bring the largest selection of Fine Wines, Spirits, and Craft Beers to the area. Kappy's prides itself on friendly, experienced, and knowledgeable staff who are part of the communities we serve. We truly believe in not only serving our customers with exemplary service, but also becoming a major part of the fabric of the community. We look forward to becoming the full service beverage destination for the South Coast and Rhode Island. Kappy's provides opportunities to learn
about products and taste new and exciting offerings through weekly tastings and events, as well as educational seminars and local collaborations with restaurants and other venues. There is always something great going on at Kappy's. Kappy's also offers party and event planning expertise for small intimate affairs to large corporate events, weddings, and holiday parties. Whatever the size - we've got you covered. And don't forget to check out our convenient mobile app so we are always only a tap or swipe away. We put a lot of thought and time into our new store and we absolutely love how it came out! We can't wait for everyone to experience the new Kappy's in Fall River. We know you will love it too! 580 William S Canning Boulevard SouthCoast Marketplace Fall River, Massachusetts Call (508) 300-3211 www.kappys.com
Space Available at 139 South Main Street, Fall River MA 40,000 SF Subdividable Space Available: • Office • Classroom • Retail • Commercial • Medical • Artist Work Space/ Studio • Fitness/Yoga Studio
• Easy highway access • Located between 2 parking garages
For additional information please contact Lynn Oliveira at email@example.com or (508) 324.2620
For additional information about advertising in this monthly publication please contact the Bristol County Chamber of Commerce at: (508) 676.8226
• Cafe & Coffee Shops • Restaurants • Convenience Stores • Retail • Fall River Justice Center • Fall River Government Center • Post Office • Bus Terminal
195 Broadway, Fall River, MA
Open Wednesday evenings until 8:00 pm Hours: Mon. - Fri. 8:00 am - 4:30 pm, Wed. until 8:00 pm, Sat. 8:00 am - 3:00 pm www.bathsplashshowroom.com Locations: Fall River, MA • Plainville, MA • Hyannis, MA • Cranston, RI HVAC Locations: Woburn, MA • Avon, MA • East Hartford, CT
MEMBER TO MEMBER DISCOUNTS MAKE SHOPPING LOCALLY EASY! 3RD EYE PHOTOGRAPHY 10% Off & Free Initial Consultation (508) 212.9052 ACCURATE SERVICE, INC 10% Off Storage (508) 674.5773 APPLEBEE’S FALL RIVER 10% Off, Food Only (508) 675.1110 ASEAMS Free Alterations with 1st Purchase (774) 634.8307 AT YOUR SERVICE 10% Off (508) 677.6700 BAKER SIGN WORKS 10 % Off, $500+ (508) 674.6600 BARRETT’S ALEHOUSE One 1/2 price app w/any purchase (up to $5 value) (508) 674.3600 BATTLESHIP COVE 20% Off (508) 678.1100
DOTTIE LEBEAU FOOD SAFETY CONSULTANT 10% Off First Inspection (401) 385.9040
CAVS RESTAURANT 10% Off Food Only (774) 955.5560
E2SOL LLC 10% Off (401) 489.2273
JEWELS DAY SPA MEDICAL AESTHETICS 10% OFF (508) 672.1316
CENTER FOR SIGHT $50 Off Pair of Eyeglasses/$500.00 Off Lasik (508) 730.2020
EDIBLE ARRANGEMENTS 10% Off Any Purchase of a Smoothie (508) 730.3410
LAZER GATE 10% Off (508) 730.1230
EMPIRE HYUNDAI, INC. 10% Off Parts & Labor 15% Off All Accessories Purchased at Parts Counter/Service Desk (508) 673.7646
MALLARD PRINTING 10% Discount (508) 675.5733
CHILDREN’S MUSEUM OF GREATER FALL RIVER 10% Off Admission (508) 672.0033 CHOCO LATTE CAFE 15% Off Any Purchase (774) 365.4920 CLEAN RIGHT CLEANING SOLUTIONS We Will Beat Competitor Pricing (508) 994.2412 COMFORT INN & SUITES 10% Off Room Rates (508) 672.0011
BK’S TAVERN 15% Off, Food Only (508) 675.5044
CORPORATE IMAGE APPAREL INC. 10% Off (508) 676.3099
BLOUNT CLAM SHACK & COMPANY STORE 10% Off (774) 888.0050
DAVE’S TIRE PRO’S 10% Off Parts with Repairs 10% Off Tires (508) 679.6482
BOYS & GIRLS CLUB 15% Off Senior Membership (508) 672.6340
D.E. RODRIGUES & CO. Free Initial Consultation (508) 679.6079 DELKEN DRY CLEANING 10% Off (508) 679.0999
INTERACTIVE PALETTE 5% Off Website Packages (781) 930.3199
CAMARA’S HEATING & AIR CONDITIONING 10% Off (508) 636.8325
FLUID PROFESSIONAL BARTENDING SERVICES 20% Off Total Event Services (508) 567.1560 GASPAR’S LANDSCAPING 10% Off (508) 677.3502
MEGANET COMMUNICATIONS 10% Off, One Month Free (508) 646.0030 MF DEVINE AND SONS SEPTIC SERVICE 10% Off (508) 904.7847 devineseptic.com
GENERAL FITNESS 20% Off All Memberships (508) 677.4933
NETWORK CLEANING SERVICE, INC. 10% Off (401) 439.1383
GOT SUN GO SOLAR $500 Off (774) 229.2986
NEXT MONITORING, INC. 1 Month Free (508) 379.6315
HARRY’S RESTAURANT 10% Off Entire Purchase (508) 672.9405
O’BRIEN PLUMBING & HEATING, CO. 10% Off (508) 679.3368
HOME MOBILITY PROS Free Home Assessment (401) 265.7751 INDOFF/DARTMOUTH 10% Off (508) 971.4141
PATTI’S PIEROGIES 10% Off, International Platter (508) 679.4001 PAWTUCKET RED SOX Buy 25 Flex Tickets & Save $25.00 (401) 724.7300
SHOPPING LOCALLY REALLY DOES MAKE A DIFFERENCE! PAYROLL EXPRESS We Will Beat Competitor Pricing (508) 679.1858 PERFORMANCE AUTO CENTER 10% Off (508) 675.4777 PLUM DIRECT MARKETING 15% Off Any Print or Digital Marketing Services (800) 992.9663 PURE HEADSPA 20% Off First-Time Client (774) 526.7293 RADIO VOZ DO EMGRANTE 15% Off (508) 207.8382 REMAX, DAWN RUSIN $500 Off Closing Costs or a Complimentary Moving Van (508) 677.3629 ROB ROY ACADEMY Complimentary Service (Excludes Chemical Services, including color, perm.) (508) 672.4751 SALON ELEGANCE & SPA 10% Off any Spa Service/$20 Off First Facial (508) 642.9178 SECURED STAFFING We Will Beat Competitor’s Pricing (508) 567.5083 SENIOR FUNDING GROUP $500 Off Reverse Mortgage Closing Costs (508) 646.4351Contact: Mike Kennedy
SHOWCASE AUTO 20% Off Any Auto Repair/$500 Off Any Vehicle Purchase *No Deductible for Body Shop & Rental Provided if Not Available Through Insurance (508) 379.0003 SMOKIEZ, INC 10% Off (excludes cigarettes) (508) 672.1111 SOMERSET CHRYSLER DODGE JEEP 10% Off Parts and Labor (508) 675.1106 SOMERSET DECORATING 10% Off (508) 674.8596 SOMERSET TOURS & TRAVEL $50 Gift Certificate w/any 7-Day Booked Cruise (774) 365.4288 STRIVE GYMNASTICS & FITNESS 10% Off (508) 567.3830 SPINDLE CITY AUTO GLASS 10% Off Any Service (May not be combined with other offers) (508) 677.3063 SULLIVAN TIRE & AUTO Full Service Regular Oil Change $19.95 (508) 674.4068 TOWN CAR TRAVEL LIMOUSINE 10% Off (508) 379.9088
TIPSY TOBOGGAN 10% Discount (508) 944.3728 TRANSANALYSIS, INC. First Month Free (508) 646.1000 UPLAND ARCHITECTS 10% Off Services (774) 430.3390 VENUS NAILS AND SPA, LLC 10% Off on all services (508) 456.2222
Did you know that the Bristol County Chamber of Commerce has an app? It’s free and easy.
VITAL NUTRITION $1.00 Off Your First Shake or 20 % Off Your First Order (508) 617.4662 FUN 107/ WBSM 25% Off Advertising for New Clients Townsquare Media (508) 999.6690 WICKED KICKIN CHEESECAKES 10 % Off (774) 309.3133 WSAR 1480 AM 25% Off Advertising for New Clients Only (508) 678.9727
With our app and a tap, you can: Call the Chamber Access our Member Directory Browse our Member to Member Discounts and so Much More... Download Today! Sponsored by :
THINKTECH COMPUTER Free 27- Point Network Audit (508) 992.2541
PRSRT STD U.S. Postage PAID Permit No. 46 Fall River, MA
Bristol County Chamber of Commerce 200 Pocasset Street, Fall River, MA 02721-1585 (508) 676.8226 www.bristolcountychamber.org
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