Tag Archives: small business

Stay Stable with Balanced Cash Flow

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Sandra Taylor Sawyer

Sandra Taylor Sawyer, Director, NMSBDC at Clovis Community College

Cash-flow imbalance is the leading cause of business failure in a healthy economy, according to the U.S. Small Business Administration. So when the economy is sputtering toward its prior vigor, it’s more urgent than ever to maintain a balance between what’s flowing into the business and what’s flowing out.

In business, cash is king. It’s used to pay short-term bills, cover unexpected emergencies and invest for future business needs. Savvy business owners look beyond income and expenses by keeping an eye on cash to manage all cash inflows and outflows.

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In the Zone: Know the Laws About Home-Based Businesses

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Don Bustos

Don Bustos, Director, NMSBDC at Luna Community College

Almost half of U.S. businesses are based in the business owner’s home, according to the U.S. Small Business Administration, and that number might grow as more people decide to go into business for themselves.

Those planning to launch a home-based business in New Mexico need to understand the zoning laws that apply in their area. Depending on where one lives in the state, zoning laws are enacted by city or county officials.

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SBA’s Entrepreneur Training Expands in NM

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John C. Woosley

John C. Woosley, District Director, SBA NM District Office

Merlin Herbert believes anyone can run a business if they have the right training. Herbert, the owner of a 19 year-old Bloomfield-based welding company, participated in the e200 Emerging Leaders training program in Gallup last year. “The training helped me become a better manager,” he says.

An initiative of the U.S. Small Business Administration, the e200 Emerging Leaders Program is a national curriculum that provides business owners in underserved markets with training, networking, resources and motivation to grow their business and create jobs.  Now in its fourth year in Albuquerque, the program will be offered in Farmington this year for the first time.  The training, which is valued at over $8,000, is free of charge and will be conducted from April through November, 2011, in both locations.

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Loans for Legacy, Equity for Growth

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Tom Stephenson

Tom Stephenson, Managing General Partner, Verge Fund

Anyone looking for a business investor must examine their personal goals before looking for funding – different reasons for starting a business mean different ways of finding money.

Venture capitalists classify entrepreneurial businesses into two groups: growth businesses and lifestyle, or legacy, businesses. Only growth businesses will be attractive to venture-capital firms.

Lifestyle businesses are those started by people who want to have control over what they do and how they spend their time. These businesses tend to be focused on a local market, and entrepreneurs expect to own and run the business indefinitely. Continue reading →

Built by Association: Chambers of Commerce Help Businesses Survive, Grow

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Simon Brackley

Simon Brackley, President & CEO, Santa Fe Chamber of Commerce

The past few years have been difficult for many businesses, with a protracted recession forcing consumers to change their buying habits and postpone nonessential expenditures. Business owners feel the pinch of these conservative spending habits and sometimes feel they have no place to turn for advice. That’s where chambers of commerce can help.

Especially during a recession, business leaders need to stick together, and the chamber of commerce is one way to do that. Larger chambers provide confidential counseling and business assistance at no charge to members.

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Third Virtual Job Fair Targets Workers for High-Tech, Green Industries

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Michelle Mang of TVC

Michelle Mang, Promotions & Advertising Analyst, TVC

Technology Ventures Corporation and New Mexico WIRED (Workforce Innovation in Regional Economic Development) host their third virtual high tech job fair September 20-24. Because the setting is cyberspace, applicants can participate from anywhere in the world without standing in long lines.

New Mexico-based high tech and green tech companies that want to participate can register for their virtual booth by contacting Metta-Marie Stahl at 505-843-4143. The fair is limited to these industries because job-fair organizers say they offer opportunities for professional growth and better-than-average pay. (And they’re not all technical jobs, either: Many companies seek sales and marketing personnel and administrative staff.)

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