Native American business owners are encouraged to utilize the wide range of resources available to all New Mexico entrepreneurs, however, a number of opportunities focus exclusively on the growth of Native-owned businesses.
The American Indian Business Enterprise Center (AIBE) at New Mexico State University Arrowhead Center offers a suite of services designed to build Native entrepreneurship around the state. Services range from funding opportunities, free online business training, one-on-one business advising, and access to over 50 professional advisors including accountants, intellectual property, and business attorneys. AIBE relies on the collaboration and input of Native leadership—Native business owners, Native organizations, and community members— to provide equitable and inclusive delivery of culturally representative services. Student internships and business acceleration are among its programs.
The Native Entrepreneur in Residence (NEIR) program is offered to eligible entrepreneurs throughout the country, not just those in New Mexico. Created and managed by New Mexico Community Capital, the program is an intensive six-month one-to-one training focusing on idea development, startup, and business growth that is custom-tailored to each Native entrepreneur’s needs. Participants are paired with an experienced entrepreneur/mentor to lay the foundation for successful business growth. New Mexico Community Capital has graduated 46 entrepreneurs since the NEIR program started in 2014.
Looking to fund the growth of your Native-owned enterprise? The Regional Development Corporation’s Tribal Economic Diversity Fund offers grants ranging from $1,000 to $8,000 to business enterprises owned by a federally recognized Indian tribe or businesses owned by an enrolled member(s) of a federally recognized Indian tribe in the seven-county Northern New Mexico region served by the RDC. Bison Star Naturals is one company that received funding when the program was known by another name. Applications are accepted once a year; the 2021 application period runs from July 1 to 5:00 p.m. on August 2.
These are just a few of the opportunities available to Native entrepreneurs. Join the Native American Small Business Resources Facebook group to learn about the annual Native Women Lead conference and other programs as they develop. Read the story about a Gallup business that received assistance through the NMSBA program. Download the list of Native American business organizations provided by Stacy Sacco.