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This Weeks Article

226. USDA Helps Businesses Upgrade Energy Systems

January 30th, 2012

Terry Brunner, State Director, USDA Rural Development Agency

An energy-efficient water pump just went online at the San Miguel County ranch of Robert Quintana, and solar panels now power the Lifestyle Medicine office building in the county seat of Las Vegas, N.M. Both projects received partial funding from the Rural Energy for America Program (REAP) — a rural development program of the U.S. Department of Agriculture that offsets the cost of replacing outdated or inefficient energy technology in eligible rural businesses.

The Quintana ranch’s new electric pump powers a circle irrigation system that provides water to 193 acres of farmland; REAP contributed a $5,439 grant toward the $21,000 system that replaced the old diesel pump setup. Fourteen solar panels were installed on the roof at Lifestyle Medicine in downtownLas Vegas, and they produce enough electricity to reduce the facility’s energy costs. Owner Dr. Bradley Kanode received a $4,854 grant to help install the $19,000 solar-power system.

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225. Succession Plans Keep Legacy Alive

Whether a business owner plans ahead for retirement or is forced to leave her company by illness or death, a succession plan is the single greatest tool for ensuring that her family and employees are protected. A succession plan can be the glue that keeps a business from breaking apart and destroying the assets an owner has worked hard to build.

224. Quemado Rito Convenience Store Puts Rural Community Back on the Map

Tommy Padilla works full time for the state Livestock Board and owns a 2,000-acre cattle ranch near Quemado, a rural community that’s home to 781 people. In 2008, he saw an opportunity to provide a needed service to motorists driving through the town. Padilla turned to The Loan Fund, a nonprofit organization that provides loans, training and advice to entrepreneurs, business owners and nonprofit groups throughout New Mexico and the Navajo Nation.

223. Getting Down to Business in New Mexico

To launch a business in New Mexico, an entrepreneur needs a legal structure, business name, employer identification number (EIN), state registration, business license and other permits. As complicated as it sounds, it takes most entrepreneurs only a few days to obtain what’s needed. Read more to find out what steps to take.

222. Future Improving for New Mexico Businesses in 2012

While national indicators show unemployment beginning to ease and consumer confidence rebounding, the depth and duration of the recession that began four years ago exacted a heavy toll on businesses as sales revenue plummeted and cash flow dropped to a trickle. But there are advocates in the business’s corner. Read what New Mexico is doing to promote stronger growth in 2012.

221. Landscape Changing – But Still Good – for New Mexico’s Film Industry

While industry insiders and supporters warn that collaring the incentives may make production companies turn to states with more favorable offerings, Elliott is optimistic that New Mexicans will continue to find opportunities to work in the film, TV and commercial production industry.

220. Engage Employees to Increase Productivity

Hiring a new employee is just the beginning of the company’s relationship with this member of its work force. A savvy small-business owner stays involved with employees throughout their employment and is willing to move people around to suit the job performance and skills of each team member.

219. Venture Capitalists Put Market Before Product

The most successful venture capitalists first want to know how well the entrepreneur understands the target market’s problems. Only then do they want to hear about the solution.

218. WESST Helps Artisans Get the Right Price

Many entrepreneurs have never accounted for all the underlying costs of getting their product or service to market. Some haven’t asked themselves how to know they’re operating at a profit and how few sales they can make and still break even.

217. Partners Team Up to Host Entrepreneurs’ Discovery Day

New Mexico innovators will pitch their discoveries to a panel of experts — and get a shot at up to $10,000 in funding — at the next HD3 Discovery Day on Dec. 8 in Santa Fe. At its first Discovery Day in May, HD3 (www.hddd.org) received more than 20 applications from all over the state. Entrepreneurs interested in participating in the next Discovery Day should visit www.hddd.org. For other opportunities, visit www.nnmconnect.net.

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