A weekly feature in Providence Business News, Spotlight, directs readers to a small business in the Ocean State that is making a go of it. This week's Spotlight, Vanquish Boats LLC in Newport and Bristol, is just such a business.
Less than a decade old and founded in the depths of the Great Recession, Vanquish Boats' 15 employees are proof that entrepreneurial effort does pay off in Rhode Island, and that the state's boat-building legacy is real and continues to be a source of jobs and economic output.
But Vanquish Boats' success contains a cautionary tale as well. The founder and owner came to Rhode Island from New York to attend Newport's International Yacht Restoration School and stayed because of the talent pool here. But he also noted that in addition to the challenges that the marketplace presents, the business climate has not been hospitable. In fact, he said, "We're here because the talent is here."
That statement is a reminder to the state's leaders that as many successes are happening here, there is still much work to be done to build on them. •