About the business:
Fed up of with having their ideas rejected by their old bosses, John Haley and Joseph Spangenberger invested around $1,000, set up a small business team, and created Watermark, an environmental and civil engineering firm. The company also provides construction management and operation and maintenance services to government, municipal and private sector clients throughout New England.
Prior to winning their first business contract, though, they were stuck in a bit of a "Catch-22." To land the contract, they had to show that they had financial backing, but the banks wanted to see that the team had a done-deal contract before they offered initial financing. While in limbo, Haley and Spangenberger worked as consultants to keep a steady income, but they eventually landed the contract. Watermark has since won numerous government contracts.
--By Eno Alfred
The companies on this year's Inner City 100 have managed to build fast-growing businesses in economically depressed cities. Here's how they are doing it. More
|5 people you might not tip (but should)|
|Stocks: It's report card time on Wall Street|
|General Mills reverses course on right to sue after backlash|
|Americans have fallen in love with real estate once again|
|Why you should pay off your car loan ASAP|