New Mexico’s 20 Small Business Development Centers, most of which are located on university and Continue reading
Author Archives: Admin
Deduction Lifts Gross Receipts Tax Burden For Businesses That Sell Out of State
Carolyn A. Wolf, Attorney at Law, Montgomery & Andrews P.A.
New Mexico’s gross receipts tax might make many business owners grumble, but the tax code contains provisions to help entrepreneurs compete with out-of-state rivals who aren’t subject to the tax. Taxpayers that sell services to out-of-state buyers when the product of the service is initially used outside the state and the product is delivered to the buyer outside New Mexico may be eligible for a deduction.
For transactions to be deductible, certain guidelines must be met.
Los Alamos National Laboratory
Los Alamos National Laboratory (LANL), managed by Triad National Security, supports northern New Mexico communities through various programs.
Continue readingWESST Enterprise Center
Businesses located at the 37,000-square foot facility near downtown Albuquerque receive operational support, access to Continue reading
Small Business Development Centers
New Mexico’s Small Business Development Centers, most of which are located on university and community college campuses, provide workshops, Continue reading
WESST
WESST is a private, nonprofit economic development organization that provides business training, consulting and loans Continue reading
The Loan Fund
A tax-exempt community development financial institution (CDFI) that provides loans, training and business consulting to entrepreneurs… Continue reading
Line of Credit
A bank loan with features similar to credit card financing where the bank agrees to a maximum amount it will loan a business, and the business draws on the money only as needed. The bank only charges interest when the business taps into the line of credit, and interest is charged only on the outstanding balance. The borrower can make payments to the outstanding balance at any time, but he or she must make a minimum monthly payment that includes accumulated interest. Most lines of credit require that the loan be completely paid off for at least one month each year.
NMSU Harnesses Intellectual Capital to Drive Economic Growth
By Kevin Boberg, director and CEO of New Mexico State University’s Arrowhead Center; photo by Darren Phillips
Entrepreneurs don’t have to live in or near Las Cruces to take advantage of the many services offered by Arrowhead Center – a business development hub launched in 2004 by New Mexico State University to stimulate economic development for the betterment of all New Mexicans.
The center’s resources are open to any state resident who needs help turning an idea into a commercial venture or taking an existing business to the next stage.
The Enterprise Research service draws on students, business mentors, entrepreneurs, faculty researchers and research partners to create and validate research studies for startups and existing businesses. And the Arrowhead Technology Incubator links technology-based firms with the resources they need.
SBA Changes Intensify Business Lending Surge
By John Woosley, District Director, SBA New Mexico District
Jerome Garcia completed 23 years of military service, multiple overseas tours and one combat deployment before retiring in Las Cruces just before the economy collapsed in late 2008. Garcia and his wife, Michele, proceeded with plans to start their own business and launched Southwest General Construction in February 2009.
SGC is a service disabled veteran-owned small contracting business that builds and maintains airfields, railroads, roads and buildings in New Mexico and the Southwest. It also builds fences, drills wells, maintains grounds and conducts environmental remediation. Continue reading