Jill Hamblen and Marlene Seitz, owners of triARC architecture & design, were named 2014 Success Award winners by the AZ Small Business Development Center (SBDC).
The award is given to small local businesses that have exemplified strong economic growth and development since the inception of their companies. The award ceremony took place on the State Capitol lawn. Eleven other businesses were honored.
“While many small businesses struggle to make ends meet within the first few years in business, these were years triARC soared,” Hamblen said.
Founded in 2006, triARC experienced four years of financial success. It was not until 2010 that the recession hit triARC and billings plummeted.
Hamblen and Seitz turned to Michael D’Hoostelaere, Business Analyst for the SBDC. He challenged the business partners to gain knowledge of their businesses financial indicators as well as strategize to cut debt and develop a growth and hiring plan.
Throughout 2012 and 2013, triARC significantly cut debt, hired staff with complementary values, and outpaced financial projections in 2012 by 110 percent and 113 percent in 2013. The next two years are forecasted to be growth years for triARC.
The SBDC is dedicated to providing high impact, quality counseling services and training to help small business owners achieve their goals, thereby strengthening the Arizona economy. It is celebrating its 25th anniversary.