News & Updates

Has Minimum Wage Impacted Your Business?

The Chamber is supporting the California Policy Impact Project, an effort conducted by California’s job creators, business leaders who are service providers, regional small business groups, local chambers of commerce, and statewide trade organizations. The goal is to identify the economic impacts of California laws and to educate the public about those impacts.

California’s citizens, regardless of party affiliation or ideological leaning, have continually identified “jobs and the economy” as the state’s most important and pressing issue. Yet, the policies enacted by their representatives may not consider all the impacts on job creation and economic growth and may even work against these goals.

This project will fill an information void in public awareness and, hopefully, bridge the gap between what Californians think is important and what their elected representatives are focusing on. Please consider taking the first data gathering survey by clicking here.

Are You Prepared for a Cashless Society?

The following content is the latest addition to the Small Business Resources Center. Visit www.sdchamber.org/smallbiz to learn more.

Whether it’s using ApplePay, Samsung Pay, writing a check or swiping a common debit card, there is no getting around the fact that the world is trending towards a world without cash.

Today, purchases made in the US are only about 55 percent cash, 45 percent credit/debit/other, and that number is on the rise.  Sweden is leading the global cashless charge with cash purchases down to about 41 percent of the total; over half are cashless.

Further, those nasty rates and fees that have plagued merchants for so long are now being sidestepped, as merchants can now openly declare a “convenience fee” addition to just about any purchase, and pass the bank and other fees along to the consumer for the convenience of using the chosen cash alternative.  Indeed, gas stations have had a lower cash price and a higher credit/debit price for years.

So what are we, the small business community, to learn from this trend?  Many in the “payments industry” would offer the following two basic rules:

  1. The more ways you allow people to pay, the more customers you will have.
  2. Those customers using non-cash vehicles such as their VISA card, tend to spend more than customers using cash.

Today, with the payments industry being as competitive as any other, merchants have help navigating the payments landscape as increased sales are key to both the merchant and the payment service/equipment provider.  Local independent sales offices (ISOs) are offering personalized service locally, which is in turn supported by New York Stock Exchange (NYSE) giants in the processing space.

We could not find statistics specific to the local trend here in San Diego, but our lifestyle tends to trend to the more techie side, likely due to the local influence of technology-related industries and companies in San Diego.  With that in mind, it is logical to presume that our non-cash spend is a bit more than the national average of 55 percent.  For fun, let’s say San Diego purchases are 50 percent non-cash and 50 percent cash.

With that in mind, are you up to speed on all of the available ways for your customers to pay you?  If not, consider seeking the advice of a payments professional.

Even parking meters take plastic!

Keith Woolgar, Account Manager, NPC Payments

Keith Woolgar, Account Manager, NPC Payments

About the Author

Keith Woolgar – a proud Chamber member of 14 years and Chamber Ambassador – is the Account Manager for NPC Payments, a merchant services/credit card processing business that services over 400 small businesses in San Diego County, including the San Diego Regional Chamber, San Diego County Office of Education and the San Diego Mission.

Located in the Kearny Mesa neighborhood, NPC Payments is a 21-year old company with a five-person team.

Help Support Veteran Women

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The Chamber is partnering with Operation Dress Code to help women veterans successfully transition to civilian careers with the confidence they deserve and respect they earned by providing them with quality, professional clothing.  But we need your help, too!

How you can help:

  • Donate new or gently used professional clothing, shoes,  jewelry, accessories, and handbags.
    Pink Operation Dress Code clothing bins will be stationed at businesses throughout San Diego Sept. 20 – Oct. 7. For a list of drop-off locations, click here.
  • Host a bin. If you would like to have a drop-off bin at your business please email dresscode@gmail.com.
  • Spread the word. If you know a woman who has served in the U.S. Armed Forces who would enjoy a free and personalized shopping experience, encourage them to sign-up for the Dress Code Boutique Day on Oct. 15. Register here.
  • Volunteer. Volunteers are needed to help with the event. For more information on how you can get involved, email dresscode@gmail.com.

For more information on Operation Dress Code visit www.thedresscodeca.com.

 

MTS Wants to Hear From You

Are you a transit rider? The San Diego Metropolitan Transit System (MTS) is seeking feedback from San Diego County residents and workers to help determine how its current routing and scheduling for bus and Trolley services are meeting rider needs.

Now through September 23, the Transit Optimization Plan (TOP) will gather input through an online survey and at outreach events around the region. The goal of this project is to evaluate MTS’ performance, and restructure current transit services as necessary to more efficiently and effectively serve the region’s travel needs within the present financial and operating environment.

Fifteen outreach events will take place September 7 through September 15, and an online survey is also available until September 23. To learn more about TOP, to find an outreach event near you or to take the survey online, visit sdmts.com/TOP.

Community Partner of the Month: Autism Speaks

ASpeaks1Autism Speaks is the world’s leading autism science and advocacy organization. It is dedicated to funding research into the causes, prevention, treatments and a cure for autism; increasing awareness of autism spectrum disorders; and advocating for the needs of individuals with autism and their families.

An estimated 1 in 68 children in the U.S. is on the autism spectrum. Autism Speaks was founded in February 2005 by Suzanne and Bob Wright, the grandparents of a child with autism. Mr. Wright is the former vice chairman of General Electric and chief executive officer of NBC and NBC Universal. On the global front, Autism Speaks has established partnerships in more than 70 countries on five continents to foster international research, services and awareness.

ASpeaks2This past June, Autism Speaks announced that it has appointed Larissa Kerstetter to the newly created position of Manager of Field Development for Southern California. Larissa Kerstetter’s previous position was as Development Director for the ALS Association’s Greater San Diego Chapter. She left successful corporate positions in the telecom and tech industries when her son – who was diagnosed with Pervasive Developmental Disorder (PDD) – was being mainstreamed from special ed to general ed.

ASpeaks3“I am excited to have Larissa Kerstetter on board to oversee Autism Speaks’ activities in San Diego,” said Suzette Martinez, Executive Director of Autism Speaks Southern California. “Her responsibilities will include overseeing Autism Speaks Walk San Diego, (held October 1st), as well as other community events in the Greater San Diego area.”

This October 1st, over 4,000 people are expected to participate in Autism Speaks Walk San Diego 2016 to raise funds and awareness for the over 10,000 San Diegans on the autism spectrum. It will feature a 3.1 mile rolling start walk, kid-friendly activities, live performances and a Resource Fair with over 50 community vendors.

ASpeaks4To learn more about how you can be involved, please contact:
Larissa Kerstetter
Autism Speaks
Phone: (619) 318-7424
Email: larissa.kerstetter@autismspeaks.org

To register or learn more about the walk: www.autismspeakswalk.org/sandiego
To learn more about Autism Speaks: www.autismspeaks.org

New report finds San Diego is one of least affordable metros in the nation

affordability-salestaxThe Chamber released a new jobs dashboard comparing the affordability of San Diego to nine competing metropolitan areas, including: Raleigh, Seattle, San Francisco, and San Jose. The report found that nearly all competitor metros are more affordable than San Diego, with the exception of Portland. (Read the full report here.)

“The measure of a region’s affordability goes beyond just housing. It’s important to look at the whole picture of how far a person’s income will go to support living in a certain area. San Diego excels in many areas, but this dashboard reveals that overall affordability is an area that’s holding back our economic potential.”

Jerry Sanders, President & CEO of the San Diego Regional Chamber

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CHART: Income needed in San Diego to maintain current spending habits

Affordability varies based on several factors including income. For example, Raleigh has a lower average income than San Diego, but because cost of living there is much lower, that income actually goes 45 percent further than the typical income in San Diego. In San Francisco, where housing and other costs are substantially higher, it is actually more affordable than San Diego because incomes are higher.

Additional key findings of the dashboard include:

  • San Diego ranks sixth, out of 10, in per capita personal income
  • One-third of average annual income in San Diego goes to housing, highest behind only San Francisco and San Jose
  • 42 percent of households that own a home with a mortgage pay over 30 percent of their income on housing
  • 57 percent of households that rent a home pay over 30 percent of their income on housing
  • California’s income and property taxes are second and third highest, respectively

“One of the most productive things we can do to address our region’s affordability is focus on how to increase incomes through education and training. Investing in middle and high-wage employment opportunities will benefit employees, employers, and all of San Diego.”

Peter Callstrom, President and CEO of the San Diego Workforce Partnership

This dashboard is the second of three examining the region’s business climate as part of the Chamber’s Regional Jobs Strategy. The challenges outlined in these dashboards and how best to address them in a coordinated, regional approach will be the focus of the final Regional Jobs Strategy report which will be released in January 2017. Earlier this month the Chamber released the “Business and Tax Climate Dashboard” [PDF] and next month will release a third dashboard that takes a comparative look at the region’s standard-of-living.

Launched earlier this year by the San Diego Regional Chamber Foundation in partnership with the County of San Diego, City of San Diego, and San Diego Association of Governments, the Regional Jobs Strategy was created to coordinate a unified effort to spur economic growth and create jobs for the entire Cali-Baja region. The Jobs Strategy includes over 50 of the region’s business and civic organizations. The Affordability Dashboard and appendix can be downloaded from the Chamber website here.

Member Spotlight: BOFI Federal Bank

BOFIBofI Federal Bank is a leading financial service provider that offers innovative banking and lending products to personal and business banking customers throughout the United States. For more than 15 years, BofI Federal Bank has been providing some of the most forward-thinking yet affordable financial products and services in the nation.

Headquartered in La Jolla, BofI Federal is a leader in online banking and offers their customers the convenience of securely accessing their accounts on their own schedules. The branchless banking model enables the bank to offer high interest rates on deposit products, as well as low loan rates with minimal fees. One of the fastest growing banks in the nation, BofI Federal Bank is the parent company to eight specialized financial institutions.

Aaron Trilling and David Ovadia, Business Development Managers at BOFI Federal Bank

Aaron Trilling and David Ovadia, Business Development Managers at BOFI Federal Bank

BofI Federal Bank features business banking solutions including business checking accounts, business certificates of deposit, commercial property loans, merchant services, and equipment financing. In 2016, BofI Federal Bank was named Best of the Biggest Public Thrifts by SNL Financial for the fourth year in a row.

Their flagship consumer brand, Bank of Internet USA, offers a comprehensive suite of convenient banking products. Since its inception, Bank of Internet USA has been dedicated to offering industry-leading rates on a variety of checking and savings accounts and home loans, including both conforming and non-conforming mortgages.

Bank of Internet USA products and services have been recognized by WalletHub, GOBankingRates, NerdWallet, and Advisory HQ. This year Nerdwallet, a financial education resource, honored Bank of Internet USA with multiple awards, including one of the Best Rewards Checking Accounts, Best Online Money Market Accounts, and Best Checking Accounts.

BofI Federal Bank is proud to be a member of the San Diego community. BofI Federal Bank believes strongly in developing relations with organizations within our community. The bank has provided support for local nonprofit groups including San Diego Habitat for Humanity, Meals-on-Wheels, Rady Children’s Hospital, and the Wounded Warrior Project. BofI Federal Bank looks forward to continuing to support local efforts through financial education, creating affordable and sustainable housing, and other initiatives that help build stronger communities.

President’s Update: Celebrating Small Businesses

The following content is from the August edition of the Out and About newsletter. To get Jerry’s updates directly to your inbox, sign up here.

Jerry Sanders, Chamber President & CEO

Jerry Sanders, Chamber President & CEO

Dear Chamber members,

August was a great month for celebrating the Chamber’s small business members and the significant impact they have in driving our region’s economy. This week, we honored five member businesses and one nonprofit at our Small Business Awards Mixer. Although the winners have small teams – most with under 30 employees – each award winner has made a major impact in both their own industries and San Diego’s business community at large.

I’m incredibly proud to give congratulations again to:

.Please take a moment to learn more about these member businesses and reach out to them at the next Chamber event.

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Small Business Awards Winners

If you’re also a small business owner or an industry expert in your field, you may be pleased to learn that the Chamber has partnered with Wells Fargo to launch the Small Business Resource Center on the Chamber website. Whether you need help with financial management or are an expert in social media marketing, the Resource Center is a hub for gaining skills and sharing expertise in all aspects of small business management.

If you haven’t already, take a moment to visit the new Resource Center now or get in contact with your Member Relations Manager to add your own content.

Coming up, the hotel block for the Chamber Mission to Washington, D.C. closes Tuesday, August 30. This delegation trip will be an incredible opportunity to voice your policy concerns while forming meaningful relationships with many of San Diego’s key business leaders. If you’re still deciding whether or not you should go, take a moment to read a few reviews from past delegation members.

2015 Washington, D.C. Delegation

2015 Washington, D.C. Delegation – Click for Larger Image

Next, Dr. Maureen Orey – our professional development expert and President of the Workplace Learning and Performance Group will lead a workshop on Social Business: Getting Work Done in the 21st Century. Chamber workshops are a great opportunity to meet other members in a smaller and more intimate setting while gaining new business skills. If you haven’t already, I definitely encourage you to sign up today.

Until next time, enjoy your weekend and I look forward to connecting with you at a Chamber event soon.

Best,

Jerry Sanders
President & CEO
San Diego Regional
Chamber of Commerce

2016 Small Business Awards Winners

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Six San Diego businesses received top honors at the Chamber’s 2016 Small Business Awards reception on August 23. Presented annually, the awards honor local small businesses with fewer than 50 employees for their significant contributions as drivers of economic growth throughout the region.

The winners are:

Outstanding Nonprofit: Reality Changers for their incredible success in helping low-income students – many of whom joined the program with less than a 2.0 high school GPA – graduate college at an 86 percent success rate. Since its founding, Reality Changers has recorded a total of over $100M in earned scholarships.

Tech Savvy: GroundMetrics, Inc. because their proprietary electromagnetic sensor has become world leader in the oil & gas technology market, helping its customers to use less fracking and drill fewer bad wells.

Only in San Diego: Moniker Group for the owner’s ability to think beyond the “beaches and sunshine” and harness San Diego’s cooperative entrepreneurial spirit to provide a community where designers, makers, artists and tech professionals can thrive.

Cinderella Story: The San Diego Sports Entertainment Center for the owner’s ability to revitalize the business into a thriving company – with plans to expand nationwide – after losing everything during the 2008 financial crisis.

Customer Service Star: Innovative Employee Solutions for delivering on their motto that “excellent service isn’t something you should do, but something you want to do.”

Best For Vets: Miramar Federal Credit Union because their team has demonstrated that – to best serve the military community and fulfill their motto, “Where Military Matters!” – they need veterans on staff who will connect with their customers on a level most civilians cannot.

Thank you to everyone who submitted a nomination – all of San Diego is lucky to have such a robust small business community!

For more on this event read our press release »

 

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Jerry with Small Business Awards winners

 

 

 

Women in the Workforce Are a Vital Resource

Jerry Sanders, Chamber President & CEO

Jerry Sanders, Chamber President & CEO

More than anything, promoting commerce is about leveraging our most valuable assets: people. So I was concerned when our recent Business and Tax Climate Dashboard revealed that, at 44.6 percent, women make up less of San Diego County’s workforce than any of our competitor metropolitan areas across the nation. Women in San Diego County do not benefit from the same professional opportunities.

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As a husband, a father of two daughters, a grandfather to a young girl and a San Diegan who has hired many people for jobs with great impact, this fact is troubling.

It may be our connection with the military driving this disparity. We have the highest percentage of veterans in the workforce compared with the same metros, and women account for only 15 percent of active-duty personnel in the U.S. military, according to Time Labs. But there is little value in trying to explain away the statistic.

Making Economy Stronger

As the president and CEO of the San Diego Regional Chamber of Commerce, whose job it is to increase commerce in the San Diego region, I see this as a great opportunity to make our economy stronger.

An underrepresentation of women in our workforce means that we are essentially turning away talent. By allowing historical barriers to persist, we are ceding a competitive advantage to other metros. We should be very deliberate in identifying an increase in the numbers of women in the workforce as a goal of the business community. The economic success of our region is the sum of the economic success of our workforce. For San Diego to succeed, San Diego needs women to succeed.

Difficult Path

Of course, the definition of success is also personal. Today, that definition is becoming one with more emphasis on choice. Regardless of your definition, it is undeniable that women face a more difficult path to success in business.

Women are even more underrepresented in leadership roles. Last year, the Chamber surveyed businesses in San Diego County and found an estimated 37 percent of executives are women. The conversations happening in boardrooms across our region are not being informed with the diversity of perspective available in our population.

On the national scale, the extent of this is unmistakable. According to the Pew Research Center, women make up only 17 percent of the corporate board members and 5 percent of CEOs at the nation’s Fortune 500 companies. A study by the Women’s College at the University of Denver in conjunction with the White House Project forecasted that, at today’s pace, it will take seven decades for there to be equal representation of women in leadership roles.

Getting Their Perspective

Again, we can explain away the issue by arguing that women are more likely to take time off to care for a child. Or we can cite an increased likelihood of women to choose positions that offer less advancement opportunity, but greater flexibility in their schedule. The explanations however, only underscore the very reason we need more women in our workforce — their perspective is the product of a different experience.

The most important thing we can do is make a deliberate effort to design HR systems to create the strongest teams. That means identifying potential women leaders and making sure there are equal opportunities for success. Any given team may benefit substantially more from bringing in a different perspective. I don’t need a lawyer to tell me it is OK to consider the perspective an applicant brings before hiring or promoting the best person for my organization.

You should feel confident that this approach is in the best interest of your business and our entire economy.

Young Leaders Program

The Chamber is approaching the second year of our San Diego Young Leaders program. Women are well represented in this group of professionals that are 40 years old and younger, making up 50 percent of the 52-member board. Each year, it is important to the success of this program that we keep it that way. We are hoping that this approach creates further opportunity for the young female participants — all of whom have already demonstrated the capacity for leadership.

Next year, the Chamber will offer a leadership program exclusively for emerging women leaders. I’m asking you to look for and cultivate those rising leaders, and encourage them to apply to a Chamber leadership program.

 

Reprinted with permission. This article originally appeared in the August 22, 2016 issue of the San Diego Business Journal.