As a resident of SWFL, if you were asked to think of a local industry, the odds are good your first thought would be of something related to tourism or hospitality, perhaps retail or health care … but you probably wouldn’t think of anything involving manufacturing. That sector only represents a smattering of the area’s economy: less than 5% of the workforce in Collier, Lee or Charlotte counties. But while no one’s likely to mistake our sunny, sandy stretch of paradise for the sprawling factories of the industrial northeast, the region is working to build momentum in manufacturing.
In “Building Growth in SWFL” on p. 28, Sheldon Zoldan takes inventory of several manufacturers that have put down roots in our vicinity. Skilled workers and available land for factories are both on the scarcer side in Southwest Florida, but from the watercraft of Nor-Tech Hi-Performance Boats to Arthrex’s lifesaving medical devices to the inflatable amusement park equipment produced by Galaxy Multi Rides, more and more companies are finding fertile ground for growth. And a diverse, balanced economy with well-paying jobs is good for everyone.
Southwest Florida is well-supplied with business opportunities in general, spanning just about every possible industry, for the would-be solo entrepreneur or someone hoping to form or join a group. On the other hand, not all of those opportunities have a path to success, and partnering with someone else isn’t always the best plan. You might need to look twice at this statistic: In 2019, Forbes reported that 70%—almost three out of every four—business partnerships fail. Power struggles, differing motivations, unequal levels of commitment or effort among partners, sometimes just plain bad luck … going into business with someone else is risky business.
While there’s no recipe for guaranteed success in business as a duo or group, there are several steps you can and definitely should take before signing yourself onto the team. In “Partnership and Its Perils” on p. 46, John Guerra sits down with three seasoned local pros—business lawyers Brian Zinn, Frank Aloia Jr. and Ray Placid—to discuss due diligence, proportionate distribution, levels of personal liability and much more, including the importance of getting significant details in writing. “Hoping for the best” is not by itself a good business model.
Whether your version of March comes in like a lion or goes out with a peacock’s tail (see Artis Henderson’s “Lions & Lambs” on p. 86), we wish you a good one.
