Issue link: https://nebusinessmedia.uberflip.com/i/1452735
wbjournal.com | February 21, 2022 | Worcester Business Journal 3 Editor, Brad Kane, bkane@wbjournal.com Senior Staff Writer, Monica Benevides, mbenevides@wbjournal.com (Health care, diversity & inclusion) Staff Writers Katherine Hamilton khamilton@wbjournal.com (Real estate, higher education) Sloane M. Perron perron@wbjournal.com (Banking & finance, manufacturing) Contributors Susan Shalhoub, Sarah Connell Sanders Photographers Matt Wright, Edd Cote Lead Researcher, Timothy Doyle, tdoyle@nebusinessmedia.com Research Assistant, Heide Martin, hmartin@nebusinessmedia.com Production Director, Kira Beaudoin, kbeaudoin@wbjournal.com Art Director, Mitchell Hayes, mhayes@wbjournal.com Senior Accounts Manager Christine Juetten, cjuetten@wbjournal.com Senior Special Accounts Manager Mary Lynn Bosiak, mlbosiak@wbjournal.com Marketing & Events Manager Kris Prosser, kprosser@wbjournal.com COO, Mary Rogers, mrogers@nebusinessmedia.com Accounting Assistant, Rae Rogers, rrogers@nebusinessmedia.com Account Receivable Specialist, Patty Harris, pharris@nebusinessmedia.com Human Resources, Jill Coran, jcoran@nebusinessmedia.com Director of Audience Development, Valerie Clark, vclark@nebusinessmedia.com Operations Assistant, Leah Allen, lallen@nebusinessmedia.com Publisher, CEO, Peter Stanton pstanton@nebusinessmedia.com Associate Publisher, Mark Murray mmurray@wbjournal.com President, Tom Curtin tcurtin@hartfordbusinessjournal.com Worcester Business Journal (ISSN#1063-6595) is published bi-weekly, 24x per year, including 4 special issues in May, September, October, and December by New England Business Media. 172 Shrewsbury St., Worcester, MA 01604. Periodicals postage paid at Worcester, MA. Copyright 2022. All rights reserved. Postmaster: Please send address changes to: Worcester Business Journal, PO Box 330, Congers, NY 10920-9894. Subscriptions: Annual subscriptions are available for $72.00. For more information, please email wbjournal@cambeywest.com or contact our circulation department at 845-267-3008. Fax: 845.267.3478 Advertising: For advertising information, please call Mark Murray at 508-755-8004 ext. 227. Fax: 508-755-8860. Worcester Business Journal accepts no responsibility for unsolicited manuscripts or materials and in general does not return them to the sender. Worcester Business Journal 172 Shrewsbury Street, Worcester, MA 01604 508-755-8004 tel. • 508-755-8860 fax www.wbjournal.com Worcester Business Journal WBJ A division of: I N T H I S I S S U E I n trying to read the political winds, seemingly every state and local politician in the past few weeks has just up and decided it's time to end the coronavirus pandemic. is isn't coming in a let's-get-everyone-vaccinat- ed-and-follow-the-science kind of way. Instead, fearing people are tiring of the pandemic and might vote out politicians still calling for COVID restrictions, state and cities are liing mask mandates and any other regulations they might have had le in an attempt to beat back the virus. Setting aside the more than 2,000 Amer- ican who die every day from COVID, these political decisions made by people fearful of losing their power aren't going to reset our economy or our culture any- where near pre-coronavirus norms. We've come too far and too much has changed for us to go back. Trying to pretend every- thing is going to be magically fixed isn't the answer. We're better off accepting the new reality, full of its own obstacles and terrors but has many positives to glean, too. In WBJ Senior Staff Writer Monica Ben- evides' cover story "e year of the start- up" on page 10, she discovered 2021 was a record year for Central Massachusetts' entrepreneurialism. While professionals voluntarily or involuntarily le their jobs and reconsidered the value of their profes- sional time, the number of new business starts in the region spiked 15% from last year. Some of this may be spurred by the unfortunate loss of a job and may lead to talent shortages at existing companies, but having more engaged business owners following their passions is a significant net positive for Central Massachusetts. In WBJ Staff Writer Katherine Ham- ilton's story "Waiting on students" on page 8, she writes about how the region's colleges and universities are in for a rough several years as more high schoolers question the affordability and long-term investment of a college education. is isn't great news for the universities or companies needing a steady supply of college graduates, but industries like manufacturing who have suffered long-term labor shortages will benefit as more people look to directly enter the workforce out of high school. Plus, fewer professionals will be saddled with long-term student debt. e coronavirus pandemic has seemingly changed every aspect of society, from jobs to relationships to life goals. It's time we embrace the changes in this new world and adjust accordingly. – Brad Kane, editor ings are not going back to normal, and that's ok N E W S & A N A LY S I S 4 Central Mass. In Brief 5 Worcester 300 trivia contest 14 Focus on Banking & finance 18 The List: Top banks 19 Know How 20 Movers & Shakers 21 Opinion 22 Shop Talk: The Bird & Bear Collective 16 Life for cash Even as online banking and cashless transactions took a leap forward in the pandemic, Central Mass. banking sees continued life for paper currency. 19 What to know before taking out a business loan Know How advice columnist Christopher Watson from Webster Five bank outlines five points business owners should know before borrowing. D E P A R T M E N T S W I T H O U R E X P E R I E N C E D T E A M O F L E N D E R S . Clinton Savings Bank can help build your business... A T R U S T E D N A M E I N T H E B A N K I N G I N D U S T R Y F o r a f r e e c o n s u l t a t i o n , c o n t a c t a t e a m l e n d e r a t 978-365-3401. W E F O C U S O N T H E B A N K I N G , S O Y O U C A N F O C U S O N T H E B U S I N E S S P L A N . W