Saratoga Business Journal

Study Commissioned By American Express: Women-Owned Businesses Fuel Economy

October 3, 2019October 4, 2019

Linda Tepper created The Tepper Group, a wellness solutions business.
©2019 Saratoga Photographer.com

Women-owned businesses continue to fuel the economy and now represent 42 percent of all businesses — nearly 13 million — employing 9.4 million workers and generating revenue of $1.9 trillion, according to an annual State of Women-Owned Businesses Report, commissioned by American Express.
In 2019, U.S. women with diverse ethnic and geographic backgrounds started an average of 1,817 new businesses per day between 2018 and 2019, down only slightly from the record-setting 2018 number of 1,821.
The annual report, based on U.S. Census Bureau data adjusted by Gross Domestic Product data, found that women-owned businesses continue to trend above all businesses. Over the past five years:
• The number of women-owned businesses increased 21 percent, while all businesses increased only 9 percent.
• Total employment by women-owned businesses rose 8 percent, while for all businesses the increase was far lower at 1.8 percent.
• Total revenue for women-owned businesses also rose slightly above all businesses: 21 percent compared to 20 percent respectively.

Mary Maranville Turns Farm And Garden Store Into Wedding And Events Center

October 3, 2019October 4, 2019

Mary Maranville is co-owner of DeMaranville Farm and Gardens.
Courtesy DeMaranville Farms

By Jennifer Farnsworth
Mary Maranville is a strong example of someone who has managed to enjoy a high level of international success while still remaining true to her roots, to what she finds important.
Maranville, along with her longtime partner Kevin Dott, recently renovated DeMaranville Farm and Gardens in Saratoga Springs into a wedding and event location that honors their farm-to-table mantra.
The farm, located at 727 Lake Ave., (Route 29) Saratoga Springs, has three vintage barns including the Big Red Post and Beam Wedding Barn, Carriage House and Corn Crib.
The Big Red wedding barn features chestnut beams, a chandelier, vaulted ceiling, solid oak cocktail bar, second floor, central heat and air-conditioning. The Carriage House can be used for a cocktail reception hour or smaller gathering, and the Corn Crib is an authentic agricultural barn, often used for photos.
“It is the perfect place for a boutique wedding. We have also seen a lot of interest from people who travel for their actual wedding and then return home to have a reception,” said Maranville.
Maranville grew up on a dairy farm in Gansevoort, where she remembers her father working many hours to keep the farm running, a life that requires extreme heart and dedication, but something she said her father was born to do.

Business Report: Businesses Can Be Protected From Divorce

October 3, 2019October 4, 2019

By Tammy J. Arquette, Esq.
Small business owners typically put in many hours per week to operate and sustain the success of their company. They make investments of money, time and sweat equity.
They take on debt. And they utilize various experts to assist in the operation of the business, from accountants and lawyers to insurance and real estate professionals. Statistically, 50 percent of all marriages end in divorce, but when you add the stress of building a business, the strain on the marriage may be too much to bear.
Sometimes the best offense to protecting business asset is a good defense planned out when circumstances are still favorable and amicable. A classic example is the effect of a divorce on a small business.
The Domestic Relations Law defines marital asset as “all property acquired by either or both spouses during the marriage and before the execution of a separation agreement or the commencement of a matrimonial action, regardless of the form in which title is held, except as otherwise provided” in a separation agreement. This means that a business venture that is started during the marriage is subject to equitable distribution in the divorce process.
And a business that was commenced before the marriage is also at risk to the extent that it appreciated in value during the marriage.

ReWire Energy Partners With Company To Offer Solar Power To Area Communities

October 3, 2019October 4, 2019

ReWire Energy has developed a new partnership with U.S. Light Energy, a Latham-based distributed generation energy development company, that will offer power from U.S. Light Energy’s Community Solar Projects to ReWire customers across the greater Capital Region.
U.S. Light Energy specializes in Community Solar facilities and solar renewable energy solutions for residential, small commercial, and municipal customers.
As part of the new partnership, ReWire, a family owned minority business enterprise based in downtown Saratoga Springs, will offer subscriptions to popular and flexible renewable energy program, Community Solar. This new offering comes in addition to the in-depth strategic energy consulting services offered by ReWire to commercial real estate developers, nonprofits, and government agencies, company officials said.

Teddy Foster, Universal Preservation Hall Campaign Director, To Speak At Luncheon

October 3, 2019October 4, 2019

Teddy Foster is the campaign director for Universal Preservation Hall.

Teddy Foster, campaign director for Universal Preservation Hall (UPH). will be the guest speaker at the Women in Business Annual Fall Luncheon, sponsored by the Chamber of Southern Saratoga County’s Women in Business Committee on Thursday, Oct. 24.
“Persistence Pays” is the theme of the luncheon at the Hilton Garden Inn, Clifton Park.
Registration and a pre-reception runs from 11-11:45 a.m.. followed by the luncheon and presentation from noon to 1:30 p.m.
Foster will share her journey starting as a long-time, dedicated volunteer for UPH to her current role as campaign director. Her resolve and personal conviction to achieve a complete building restoration has UPH within close reach of a lofty fundraising goal.
In 2006, she joined the UPH board of directors. With the UPH-Proctors affiliation announcement in 2015, she resigned from the board and was hired as the campaign director for the $5.5 million capital campaign to complete the restoration of the building.
A native New Yorker, she grew up in Fishkill.
Universal Preservation Hall is located at 25 Washington St.

Business Report: Before Signing Commercial Lease, See This

October 3, 2019October 4, 2019

Jennifer Tsyn is a business law attorney with Bond Schoeneck & King.

By Jennifer Tsyn
Whether your business is just starting up, expanding, or relocating, you are likely to find yourself negotiating a lease. Of major concern to most commercial tenants are the maintenance, upkeep and repair of their space and the entire building. These issues should be carefully negotiated and then written into the lease.
1. Who is responsible for repairs and maintenance of the tenant’s space?
Commercial leases often require that tenants maintain, repair and replace those portions of the HVAC, electrical, plumbing, and water and sewer systems that are located inside or outside of the leased space, but which exclusively serve the leased space.
Tenants should always take steps to learn whether the heating, cooling and ventilation for their space will be provided by a shared HVAC unit or a designated HVAC unit, and whether that unit will be considered to be inside their space or outside of it (for example, if there is a rooftop unit). Similarly, tenants should make sure that they understand what parts of the electrical, plumbing, water and sewer systems that they will be responsible for.

‘30 Park’ Provides Expanded Bar And Dining Space At The Hilton Garden Inn

October 3, 2019October 4, 2019

Stuart deVoe is the director of food and beverage at 30 Park, the Diamond Club restaurant located within the Hilton Garden Inn, 30 Clifton Country Road, Clifton Park.
©2019 Saratoga Photographer.com

By Jennifer Farnsworth
Clifton Park offers plenty of places to grab a bite to eat, but Stuart deVoe wants people to know that 30 Park has something different to offer.
A restaurant and bar located within the Hilton Garden Inn at 30 Clifton Country Road, it offers a modern vibe with a fresh take on cuisine and spirits, all in an inviting and comfortable atmosphere, said deVoe.
“We want your experience here to feel like a night out, whether that is a date night or a place to eat before the movies, and in a come as you are place to come and eat,” he said.

Peregrine Market Access, Which Deals With Pharmaceutical Issues, Opens Local Office

September 7, 2019September 9, 2019

By Susan E. Campbell

Whenever people take medicine, there is a chance there was an influencer behind the scenes who worked to make the drug available to insured patients and at the “right” price.

Peregrine Market Access is such an influencer, an international consulting firm that recently opened an office in Saratoga Springs and made it the new headquarters.

The field of pharmaceutical market access ensures that patients have rapid and sustained access to a brand of drug by advocating for that product and recommending a price at which insurers, confident of the patient’s improved health outcome, will pay for it.

NYRA: 2019 Meet At Saratoga Race Course Had Record Handle,Topping $700 Million

September 7, 2019September 9, 2019

Fans turned out for the last day of racing on Labor Day at Saratoga Race Course. NYRA officials said the all-source handle for the meet topped $700 million, a new record.
Courtesy NYRA

For the first time in history, the New York Racing Association Inc. (NYRA) generated more than $700 million in all-sources handle during the 2019 meet at Saratoga Race Course, which was conducted over a five-day race week and included the cancellation of a full Saturday card of racing.

NYRA officials said Wagering from all-sources totaled $705,343,949 an increase of more than $46 million, or 7 percent, over last year when racing was conducted for the full 40 days during a six-day week. This year’s handle eclipsed the previous record set in 2017 by nearly $29 million or 4.2 percent.

The milestone record was achieved despite the cancellation of a full racing card on the second Saturday of the season due to extreme heat, in addition to the cancellation of the final seven races on July 25 due to severe storms.

Tickets On Sale For Showcase Of Homes Taking Place On Three September Weekends

September 7, 2019September 9, 2019

This bathroom is one of the modern designs that can be found in the Showcase of Homes tour.
Courtesy Showcase of Homes

Tickets for the 2019 Saratoga Showcase of Homes are on sale.

The Saratoga Showcase of Homes will be presented over three weekends this month: Sept. 14-15, Sept. 21-22 and Sept. 28-29.

Tickets are $20 and allow people to visit each of the homes on those Saturdays and Sundays from 11 a.m. to 5 p.m. This year’s edition has 10 locations from nine builders on display in Saratoga County.

Tickets are available at Adirondack Trust; Catskill Hudson Bank; Saratoga National Bank & Trustco bank locations; Curtis Lumber in Ballston Spa and Queensbury; Roohan Realty; Rebuilding Together Saratoga Store and Habitat for Humanity ReStore.

Tickets are always conveniently available at any showcase home during tour hours of 11 a.m. to 5 p.m. or can also be purchased online thru the website at www.saratogashowcaseofhomes.com.