By Finance New Mexico

New Mexico entrepreneurs who want to start a business or take an existing venture to the next level need a model that allows the business to “scale up” — to improve profitability as demand increases for its product or service.

A scalable model attracts more investors because it equips the business to adapt to a larger market without significantly increasing its costs. And that has a positive impact on economic development in New Mexico, where a home-grown business that’s prepared for exponential growth brings more out-of-state money home. Continue reading →

John Campbell

By Lawrence M. Wells and John S. Campbell, attorneys at Montgomery & Andrews, P.A.

A ruling by the New Mexico Court of Appeals this spring over homeowners’ rights to keep chickens as pets, despite a community covenant restriction against keeping poultry, has ramifications for property owners, including those in business condominium associations and other business developments.

The appellate court in March reversed a 2014 trial court decision that Eldorado residents who kept chickens as pets in their backyards violated the community’s covenants against raising poultry. It did so on the grounds that the covenant language was ambiguous enough to be interpreted in more than one way, and should be interpreted expansively. Continue reading →

Marisa Jimenez at Santa Fe Studios

By Finance New Mexico

Marisa Xochtl Jimenez hasn’t lived in New Mexico for long, but the director of operations for Santa Fe Studios is already passionate about bringing jobs to the state.

Her area of expertise is film production; she manages one of the nation’s most prolific independent film studios and is part of the management team of MBS3, a global equipment services and management company associated with the film industry. Jimenez sees abundant opportunities for gung-ho, flexible, friendly and dependable New Mexico entrepreneurs to prosper in this growing industry if they’re willing to accommodate its nontraditional needs and long hours.

“New Mexico has welcomed the film industry with rebates and tax incentives since the 1990s,” Jimenez said. “And although we have world-class facilities, we still need to continue to train, grow and develop in order to remain a competitive state for productions to want to film in New Mexico.” Continue reading →

The Mixing Bowl; photo courtesy Rio Grande Cuisine

By Finance New Mexico

Creativity is simmering at commercial-kitchen incubators in New Mexico, and leaders in the food-based-business movement want to turn the heat up under this promising economic-development sector.

Chris Madrid, director of economic development for Rio Arriba County, sees food-based entrepreneurism as a way to reverse population loss and economic decline in the state’s rural areas — and to offset “leakage” of money to other states that produce more than 90 percent of the food consumed in New Mexico. Continue reading →

By Eddie Ho, Chief Information Officer at Los Alamos National Bank

The Department of Homeland Security in 2004 deemed October as National Cyber Security Awareness Month — a time to raise public consciousness about the ever-more-sophisticated ways in which criminals are trying to steal from working people, businesses and the financial institutions in which they put their money for safekeeping.

But financial institutions think about this problem 365 days a year. Banks invest enormous resources to protect individual and commercial customers from financial security breaches.

Financial institutions have strengthened cybersecurity defenses by embedding chips into credit and debit cards and requiring customers to use two-part authentication to access accounts and bank online. Los Alamos National Bank has used two-factor authentication for all online banking access for many years. Continue reading →