{"id":10013,"date":"2019-01-07T11:09:42","date_gmt":"2019-01-07T18:09:42","guid":{"rendered":"https:\/\/financenewmexico.org\/?p=10013"},"modified":"2019-12-10T10:40:37","modified_gmt":"2019-12-10T17:40:37","slug":"venture-acceleration-fund-spurs-growth-of-native-american-ventures","status":"publish","type":"post","link":"https:\/\/financenewmexico.org\/sandbox\/articles\/starting-or-growing-a-business\/venture-acceleration-fund-spurs-growth-of-native-american-ventures\/","title":{"rendered":"Funds aim to spur growth of six Native American ventures"},"content":{"rendered":"
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Bison Star Naturals owners Jacquelene and Angelo McHorse with daughter Judy. Article by Damon Scott.<\/p><\/div>\n

(note from editor: The RDC now manages the Tribal Economic Diversity Fund, more information here<\/a> )<\/em><\/p>\n

Bison Star Naturals is one of six enterprises that shared $60,000 of investment in 2018 as part of the Native American Venture Acceleration Fund program administered by the Regional Development Corporation. NA VAF aims to create jobs by boosting revenue and advancing the business goals of Native American-owned Northern New Mexico companies.<\/p>\n

Jacquelene and Angelo McHorse, owners of Bison Star Naturals, sought the funds to launch a line of liquid jojoba and yucca root soap to augment the bar soaps and lotions the business is known for.<\/p>\n

\u201cWe also are expanding our line to include our unscented lotion,\u201d Jacquelene said. \u201cThe funding allows us to release a new product line and expand our current offerings \u2014 which are great leaps for our small business.\u201d<\/p>\n

The NA VAF was launched in 2011 by the Regional Development Corporation (RDC) and Los Alamos National Security LLC, the company that managed Los Alamos National Laboratory until November, 2018. At the time of LANL\u2019s management transition, more than $390,000 had been invested in the regional economy through the NA VAF. Triad, LANL\u2019s new manager, has vowed to retain most of the laboratory\u2019s economic development initiatives \u2014 programs such as the NA VAF \u2014 although a spokesperson said some programs may look different going forward.<\/p>\n

Other 2018 recipients include Jacqueline Gala Jewelry and PM Waterlily of Taos Pueblo, Butterfly Artist Market of Pojoaque Pueblo, Aguilar Consulting of San Ildefonso Pueblo, and the Eight Northern Indian Pueblos Council based in Ohkay Owingeh.<\/p>\n

In addition to providing money that recipients will use for software and equipment acquisition, manufacturing, and the establishment of an arts and crafts show, NA VAF benefits include technical assistance from the RDC and its partner organizations. The Bison Star Naturals owners said they plan to pursue the connections and opportunities that accompany the funds.<\/p>\n

More than money<\/strong><\/p>\n

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Bison Star Naturals Sage Pine Lotion<\/p><\/div>\n

\u201cThe RDC offers an incredible amount of resources for small businesses and entrepreneurs in Northern New Mexico,\u201d said Angelo. \u201c[RDC consultant] Lindsay Taylor has diligently worked to connect us with the New Mexico Manufacturing Extension Partnership, accounting services, and connections for potential markets.\u201d<\/p>\n

In addition to manufacturing assistance from New Mexico MEP, the couple sought help with bookkeeping. \u201cAccounting presents the greatest challenge as a small business operation \u2014 especially when you only have a small team of two people,\u201d Jacquelene said. \u201cAccounting has a steep learning curve that requires a large investment in time, effort and dedication.\u201d The couple can focus on growing the business because a CPA now helps manage its finances.<\/p>\n

And growing is what the business is doing. The couple\u2019s five-year plan includes selling their products at hotels, resorts, airports and major retailers; expanding the online store; and introducing a full suite of body wash, shampoo and hair conditioner.<\/p>\n

\u201cIn five years\u2019 time we hope to open our own facility that has the capacity to produce all of our products in-house, while also employing local New Mexicans,\u201d said Jacquelene. \u201cThis year we have some big plans: We will release our unscented lotion in January and the liquid soap this spring.\u201d<\/p>\n

Bison Star Naturals can be found at the Gathering of Nations in April, the New Mexico Artisan Market in November and at https:\/\/bisonstarnaturals.com\/<\/a>. Learn more about the NA VAF at https:\/\/rdcnm.org\/navaf\/<\/a>.<\/p>\n

Finance New Mexico article 588 by Damon Scott<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

(note from editor: The RDC now manages the Tribal Economic Diversity Fund, more information here ) Bison Star Naturals is one of six enterprises that shared $60,000 of investment in 2018 as part of the Native American Venture Acceleration Fund … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[382,22,52,42,380,19,253,381,154],"_links":{"self":[{"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/posts\/10013"}],"collection":[{"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/comments?post=10013"}],"version-history":[{"count":2,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/posts\/10013\/revisions"}],"predecessor-version":[{"id":10349,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/posts\/10013\/revisions\/10349"}],"wp:attachment":[{"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/media?parent=10013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/categories?post=10013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/tags?post=10013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}