Table of Experts: Empowering small businesses

Business Journals

30-06-2025

The Orlando area's small business landscape has experienced significant growth in recent years, positioning the city as a leading environment for entrepreneurial success.
Between 2017 and 2022, the number of businesses with paid employees in the Orlando region increased by 17.5%, reaching more than 76,000. Notably, small businesses with fewer than five employees saw a 22.5% growth, contributing approximately 75% of the 11,000 new businesses added during this period.
Additionally, in 2024, Orlando was ranked first among large U.S. metro areas for small business growth, with a 6.2% increase. This surge is attributed in part to the city's incentive programs, such as Orlando Main Streets, which has created 11,000 new jobs and more than 1,800 new businesses since 2008.
Yet despite the positive growth, small businesses in Central Florida still face several challenges that include access to capital, inflation and rising costs, and labor shortages, among others.
In this dynamic environment, FAIRWINDS Credit Union has played a pivotal role in supporting small business growth and success in Central Florida through a comprehensive suite of financial solutions, advisory services and community-focused initiatives.
Among them:
A variety of lending options designed to support small business operations and expansion, including commercial real estate loans, equipment financing, business lines of credit and business auto loans. These financial products are complemented by additional tools such as payroll services powered by Paychex, online invoicing and a Business Money Milestones Assessment to help businesses evaluate and improve their financial health.
Serving as a trusted adviser for small business owners. The credit union's commercial lending team offers guidance on critical business decisions, such as succession planning and business valuation.
Community engagement and support through philanthropic efforts and partnerships including the FAIRWINDS Foundation, which supports organizations offering financial literacy programming to assist individuals and business owners reach financial freedom. The FAIRWINDS Foundation focuses on improving financial well-being and is a trusted partner in the journey to financial freedom.
To talk about some of the small business success stories, Orlando Business Journal held a roundtable discussion on May 8 in which four local small businesses — Exterior Walls Inc., The Little Insurance Shop, Jiracor and Push Button Creative Audio — shared insights about their successes and challenges, the impact of the current economic climate and how FAIRWINDS Credit Union has bolstered their success in Central Florida and beyond.
Success isn't one-size-fits-all
When we talk about success in business, it's easy to think of towering corporations and billion-dollar revenues. But in reality, it's small businesses that quietly — and powerfully — shape the economy.
That familiar phrase of 'small businesses are the backbone of the economy' isn't just a feel-good slogan. It's backed by the numbers.
Consider: As of 2024, a staggering 99.9% of all U.S. businesses are small businesses — that's more than 34.7 million, compared to fewer than 20,000 large businesses.
And they're not just plentiful, they're essential. Between 1995 and 2023, small businesses created more than 20 million net new jobs, accounting for more than 61% of all net job growth. Nearly 59 million Americans work for a small business, and more than 6.2 million people own one.
With such massive contributions, it's clear that success for a small business isn't just about profits — it's about impact, resilience and community.
'Success for us has always been about being where we want to be. For us, it's calling our client list and making sure that our whole team is the right team and is happy when they come into work,' said Josh Bendayan, a partner at Push Button Creative Audio, which creates radio/streaming ads, jingles, podcasts, music licensing and brand music. 'We've got a limited amount of time to do the things we love to do, and that's what success looks like for me.'
For Richard Coronado, president of Jiracor, a leading training, logistics and sustainment company, having clear expectations of each job his firm is involved with is very important in his company's success.
'We are headquartered in Research Park (near UCF) and the work we do involves a range of technical services,' Coronado said. 'So, it's important for us to understand what our mission is, what we are going to do and what the goals and metrics are.'
However, for many small business owners, true success isn't just measured by profit margins or business growth — it's also about having the time and freedom to enjoy family life outside the workday.
That certainly is true for Carlos Moreno, president of Exterior Walls Inc., which specializes in drywall, stucco and EFS services for new and restoration construction. For him, success is all about taking care of his family.
'Success in my business is keeping our employees, our most valuable asset. But for me personally, success is having the freedom to travel with my family,' Moreno said.
Alex Martin, owner and insurance agent at The Little Insurance Shop, agreed and said being able to spend time with his daughter is what makes him feel successful.
'I'm a single father, and I have to take my daughter to different places, so to be able to drive her to school or do other things is what success is for me personally. On the business side, it's all about having happy customers.'
Navigating obstacles
Behind every small business is a story of ambition, resilience and relentless problem-solving. But the path to success is rarely smooth.
According to a 2024 report by the U.S. Chamber of Commerce, nearly 60% of small business owners cite inflation and rising costs as their top concern, followed closely by challenges in hiring and retaining talent. Add to that the pressures of cash-flow management, limited access to capital and shifting regulations, and it's clear that small business ownership demands more than just a great idea — it requires constant adaptation and grit, especially depending on your industry.
For Ingris Aguilar, owner and insurance agent at The Little Insurance Shop, one of the biggest challenges is rising insurance premiums and the tightening underwriting guidelines that sometimes result in customers being non-renewed by no fault of their own, she said.
'But I feel like we're overcoming that by acquiring new carriers and having more custom solutions for our customers,' she said.
Martin agreed and said The Little Insurance Shop also is trying to give customers more options before they go shopping for another insurance carrier.
'As people's rates increase, they're going to do their own shopping,' Martin said.
'So when they do their own shopping, a lot of times as agents, we kind of fall short in not providing those quotes ahead of time. Then they get the renewal, but we don't get the new quotes because they don't ask.
'What we've been trying to do is to provide those quotes through our carriers that we write for to give them those options before they start to shop on their own.'
Over in the construction industry, Moreno said his biggest challenge is cash-flow management.
'In construction, we have many obstacles, but a big one is getting paid on time,' Moreno said. 'As a result, we have to focus on collections, but we also were able to get a line of credit that helps make payroll on time.'
Meanwhile, for Coronado and Bendayan, AI has been a solution for some of their challenges.
'AI is getting very helpful for us in getting a competitive analysis of our competitors and doing market analysis,' Coronado said. 'As a small business, if I can only hire a few marketing people, for instance, I can use AI as a resource [for some of that work].'
Bendayan noted that a lot of people believe that creative services are replaceable by AI, but 'a large part of what we do is the human element in making sure we're doing things that connect with people.'
'AI definitely comes into play when we're doing administrative tasks, facilitating meeting notes, things like that,' he said. 'And AI has entered our world in a big way, where now voiceovers even can be AI generated. It will impact our business at some point, and we're trying to stay ahead of that.'
Dealing with economic uncertainty
While small businesses face a number of challenges that often are reflective of their specific industry, one big challenge is consistent for all right now: economic uncertainty.
As the U.S. economy continues to grapple with inflation, fluctuating interest rates and shifting consumer behavior, small businesses find themselves at the crossroads of resilience and reinvention.
Unlike large corporations with deep reserves and global reach, small enterprises often face tighter margins and more immediate impacts from economic turbulence.
Even so, across the country and here in Central Florida, many are demonstrating remarkable agility by adjusting business models, rethinking supply chains and embracing digital tools to stay afloat and competitive.
'The company hasn't been affected directly because of the changes in the economic environment. However, we see there could be a possibility that we will be,' said Coronado.
He said one area that likely will affect Jiracor is in some of the government contracts he's bidding on. Contracts now are shifting their timing and that, in turn, creates staffing difficulties.
'If I have an employee, and I want that person to work in that contract [that got delayed] and I don't have another contract, what is that person working on?' Coronado asks. 'Do I keep them waiting? As a small business, we don't have deep pockets like large businesses.'
For Moreno and many construction industry companies one of the drawbacks is the shortage of manpower and skilled workers, which has been worsened by the new immigration policy.
Even so, Moreno said Exterior Walls Inc. does have signed contracts that will keep his company busy over the next few months, 'but the shortage of manpower and skills — especially skills — are big issues.'
Bendayan, meanwhile, said his agency has a number of contracts with the Department of Health & Human Services that were signed between October 2024 and the beginning of this year. None of those contracts were canceled, and Push Button Creative Audio is on track for its best year.
'Anytime there is an administration change, contracts typically get frozen for six months to a year,' Bendayan said. 'By and large, however, there hasn't really been any impact with the administration change.'
However, the tariff situation is having at least some impact on his business already.
'We do some reproduction parts work overseas from China and Pakistan, and we did stop production of a couple of things,' he said. 'China seems like it's going to be the stickiest to sort out.'
As for Aguilar and Martin, the current economic conditions are affecting their customers more than their agency.
'Thankfully, insurance is required right now. You need insurance to drive your car and need home insurance for your mortgage,' Martin said. 'The real negative side is the difficulties for the consumer with the rising price of everything, which makes it harder for them to pay their bill. And when they don't pay the bill, their policy cancels. Now they have that lapse and there are going to be more fees to start a new policy.'
The role of community partnerships
Here in Central Florida, small businesses thrive when they have access to the right tools, guidance and community support, and FAIRWINDS Credit Union is committed to delivering all three.
Through a variety of lending options tailored to meet diverse business needs —including commercial real estate loans, equipment financing, business lines of credit and business auto loans — FAIRWINDS empowers small business owners to expand their operations with confidence.
FAIRWINDS also serves as a trusted adviser to small business owners. Its experienced commercial lending team provides strategic guidance on complex decisions such as business valuation and succession planning, helping business leaders plan for sustainable growth and long-term success.
'I had difficulty with bigger banks,' said Moreno. 'FAIRWINDS had a better personal touch, and I felt like they were listening better to my needs.'
The biggest impact his relationship with FAIRWINDS has had is through the line of credit that Moreno said has helped spur growth. 'It gave us the assurance for other companies to see,' he said. 'FAIRWINDS also helped us with vehicle purchases as well as the property we purchased.'
Coronado first came into contact with FAIRWINDS when his company was starting out at the UCF Business Incubator. Beginning with opening an account at the credit union, his membership with FAIRWINDS now has blossomed into a true relationship.
'What I saw was the personal touch,' he said. 'They took a chance on us after other banks saw us as a risk. And for many of the contracts we go after, it really helps when I can say I have a credit line with FAIRWINDS.'
Push Button Creative Audio works with a lot of credit unions, Bendayan said, but his first call always is to Business Banker, Lisa Land with FAIRWINDS because she was the one who first walked in, sat down and talked to us for an hour about who she was and all the things that they can do for us.
'She kept checking in and was always available,' Bendayan said. 'I can't even tell you how many times we've been on the phone with Lisa for a business opportunity or a building that we were looking at or whatever. She's always fast to answer. She's always available.'
One of the more poignant instances when that personal touch from FAIRWINDS played out in a big way happened during the pandemic, Bendayan said.
'By the time that the big bank that I had worked with for 15 years came to talk to me about what I wanted to do with PPP, Lisa had already filed my claim and got it paid out,' Bendayan said.
Martin and Aguilar, meanwhile, first came into contact with FAIRWINDS because their first office was in College Park, which, at the time, was right across the street from the credit union.
'It was easy for us because they were nearby. Much like the way I love to get the angry customers that are unhappy with their other agent, I was unhappy with our bank, and they [FAIRWINDS] make it really easy to work with them,' said Martin.
When The Little Insurance Shop first opened, FAIRWINDS played a big role in not only helping the firm buy property but also get other loans approved, as well, Martin said.
'It's the kind of customer service you typically don't see,' said Bendayan.
The panelists