Hartford Business Journal

20 Hartford Business Journal • September 4, 2017 • www.HartfordBusiness.com Opinion & Commentary EDITOR'S TAKE Redesign takes HBJ into the future I f you made it to the Opinion & Commentary sec- tion of this week's issue, you've probably noticed some changes in the Hartford Business Journal. In fact, this very column is a new feature. It's been more than a decade since HBJ did a major redesign of its print publication, so the time was right for a refreshed look. I hope you like what you've seen so far. The redesign has been in process for more than a year and took into account significant input from readers, advertisers and other stakehold- ers. We did a reader survey in 2016 that received over 900 responses. We also held reader and advertiser roundtables to get in-person feedback from our most engaged constituents. You may have also seen some rede- signed pages at various HBJ events, as we've continued to test and tweak concepts based on inputs from the community. All that work, and the many iterations of logos, page designs and content features that we've gone through, has been condensed into the print product you are holding. The aim is to give readers the same in-depth journalism with a cleaner, more photo-centric look. Our redesign is not change for the sake of change, it is about delivering business news the way today's readers want it with larger photos, more graphics accompanying stories and tighter delivery. The front cover may be the most striking change. You'll notice a new logo that gives HBJ a more sophisticated, contemporary look that will carry us into the future. We also make use of an HBJ "bug" within the logo at the top of the publication. We're known to many of our fans simply as HBJ, so we wanted to weave that in our logo design. On the cover, photos are more prominently displayed and there are no story starts, similar to a magazine style. Those with an eye for detail might even notice new fonts throughout the publication that aim to improve readability. The issue also contains new content, including staff columns, and changes to existing content like new and improved town and corporate profiles, among other features, intended to improve the utility of our flagship weekly print publication. On Pg. 11, you'll notice the new Reporter's Notebook column, which will feature analy- sis and news, on a rotating basis, from our News Editors Gregory Seay and Matt Pilon. The corporate and town profiles, which will also appear on a rotating basis, will have more information including latest news to add context to the data. As is always the case, there will be op- portunities for readers and members of the business community to contribute to our publication. Please keep sending us C-level personnel announcements for our Movers & Shakers column. We'll continue to highlight individuals rising up the corporate ladder. We'd also encourage you to submit opinion pieces to help fill our weekly opinion and commentary section. We're looking for 600 to 750 word op-eds on important business, economic and political topics impacting Greater Hartford. We'll also continue to accept submitted expert corner articles, just remember they are meant to demonstrate expertise on a given topic and they can't be self-promotional. Meantime, our editorial has been transformed into this "Editor's Take" column, allowing me to personalize my own opinions a bit more. Finally, our accolades section has been turned into a community page that will feature photos from key community events. The Greater Hartford business community has an ac- tive social scene, so please send us event photos with captions so we can publish them both in print and online. If you want to submit content, or have any questions, comments or critiques about the redesign, please contact me at gbordonaro@HartfordBusiness.com. We're eager to hear your feedback. Our goal is to make the reader experience as informative and meaningful as possible, as we continue to work hard to serve our region with business news packaged in a way that is both lively and engaging. Greg Bordonaro Editor Our redesign is not change for the sake of change, it is about delivering business news the way today's readers want it with larger photos, more graphics accompanying stories and tighter delivery. OTHER VOICES State budget crisis hitting nonprofits hard By Lori M. Budnick W ith Connecticut's budget stalemate now lingering through the end of summer, the uncertainty and turmoil at the state Capitol has reached levels that people have not seen in decades. Nowhere is this uncertainty quite as pal- pable as it is in the social services sector. The state is now in its second month without a budget and, according to published reports, the first round of potentially painful cuts to human services happened at the start of August. The bottom line is the longer the state goes without a budget, the more difficult it will get for both the state's social services agencies as well as the nonprofits that count on their sup- port. It is unlikely that any organiza- tion involved in human and social services will be immune from this year's difficulties, from community health centers to senior care communities to local charities and foundations. Additionally, once a budget is finally ap- proved and the $5 billion state deficit is bal- anced, possibly with even more significant cuts, the news could remain equally con- cerning for non- profits throughout Connecticut. There will simply be fewer dollars to go around for those human services- based agencies that need them, and many Con- necticut residents who rely on these agencies could be forced to turn to nonprofits for help. With more demand for their services, critical charitable donations and phil- anthropic support will be that much more in demand, and nonprofits could be stretched even thin- ner than they are right now. With such a daunting outlook in front of them, those in the state's nonprofit com- munity must now find ways to navigate through these difficulties, in order to continue to operate at maximum capabil- ity and continue to provide the invaluable support on which so many residents have come to depend. There are steps that nonprofits can take to help them better endure during times like this. What follows are some helpful tips they may consider. Maximize operational efficiency Though it is difficult to consider, tight budgetary times often require a hard look at how the organization currently operates to determine the best ways to operate with the same effectiveness on limited resources. It could be wise to consider consolidat- ing certain roles, relying more on part- time workers or even expanding the volunteer base. Additionally, a thorough examination should be given to all core operational functions, from financial man- agement to client databases to technology systems. You never know where you can find places to save, and you'll never find out until you take a close look. More innovative approach to fundraising This is a step that can always help; nonprofits these days should look beyond traditional means, no matter how tried and true, to ensure they are utilizing all available channels and potential resourc- es. A personal approach remains essential, but organizations should also consider presenting a wider array of donor options and means of contributing. Additionally, they should take advantage of available technology through online giv- ing and social media engagement, which not only makes it easier for people to contribute, but creates greater efficiencies among limited resources. Consider partnerships A team-based approach with like- minded organiza- tions is another route to explore during austerity. If there is commonal- ity in message and target audiences, it is always pos- sible that certain strategic partner- ships could benefit nonprofits in their quests to find those elusive dollars. Unfortunately for the nonprofit world, uncertainty can breed anxiety and worry over long- term viability, something being realized in Connecticut right now, with the budget crisis' impact on social services trickling down to the organizational level. The key to not just surviving but suc- ceeding in challenging financial times is careful planning, innovating wherever possible and taking a close, thoughtful ex- amination of the entire operation. The 2017 budget outlook for Connecticut presents a number of obstacles for nonprofits to over- come, but they should be manageable with the right strategic approach. Lori M. Budnick, CPA , is a partner with BlumShapiro, the largest regional business advisory firm based in New England, with offices in Connecticut, Massachusetts and Rhode Island. Lori M. Budnick With more demand for their services, critical charitable donations and philanthropic support will be that much more in demand, and nonprofits could be stretched even thinner than they are right now.

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