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226. USDA Helps Businesses Upgrade Energy Systems

Through REAP, USDA’s Rural Development agency grants money and guarantees loans that pay up to 25 percent of the cost of installing an alternative energy system for small businesses, ranchers and farmers in areas where fewer than 50,000 people live. Given New Mexico’s predominantly rural nature, this means that eligible businesses in most cities — aside from Albuquerque, Rio Rancho, Las Cruces and Santa Fe — qualify for the program.

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.

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.

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.

215. Jobs Act Frees Cash for Small-Business Borrowing

As of this year, under temporary provisions of the Jobs Act affecting the 504 loan program, borrowers can finance up to 90 percent of the appraised value of property they own. Borrowers with more than 10 percent equity can thus obtain cash to pay eligible business expenses.

214. Businesses Shift Focus to Veterans’ Needs

For business owners who are alert to new market opportunities like those presented by wounded warriors, benefits are delivered to stockholders and employees in the form of greater satisfaction and revenues — and to veterans in the form of relief from debilitating stress and illness.

207. Budgets Matter to Business

Business owners striving to make it through the tough economy need to know how cash flows in and out of their business. A good place to start is with a budget – a basic tool used to forecast when cash will be collected and when expenses must be paid.

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