Archive for the ‘Business Assistance Programs’ Category

Release courtesy of the NMSU News Center

WRITER: Janet Perez, 575-646-4120, perezjm@nmsu.edu

CONTACT: Sara Sanders, 575-646-7036, npirayes@nmsu.edu

New name. New attitude.

That sums up the revamp of an annual small business and entrepreneur conference hosted by New Mexico State University’s Arrowhead Center.

Once called the Business Owners and Entrepreneurs Symposium, the name of the Nov. 4 half-day gathering has been changed to GROW: An Event for Entrepreneurs.

“We’re going to have different experts sit down with people one-on-one to talk about (a business’) specific problem,” said Sara Pirayesh Sanders, entrepreneurship director for the Arrowhead Center. “The intention is for it to be a working, very tangible event. People come in with a problem and they leave with resources. It’s targeted to those who want to start a business or who already may be in business.”

In past years, the setting was more formalized, with a panel onstage taking questions from the audience. This year, the audience will sit through a few presentations and then have the opportunity to stop at various stations and talk directly to the experts. For example, a small business owner who has designed her own brochure will be able to show her work to a marketing expert who will provide a constructive critique and advice.

Theresa Gonzales, vice president of RTD Hardware, was a panel participant last year and is enthusiastic about the GROW changes.

“Not many people asked questions last year, so there really wasn’t much interchange between the audience and us,” she said. “Less formal is always less intimidating for a lot of people. This will probably be a much easier way for people to ask questions. It would have made me more relaxed as well. I’m not really big on speaking in front of people. I prefer one-on-one.”

Despite running a business that has been operating in Las Cruces for 25 years, Gonzales said she is interested in attending GROW so she can learn more from the experts about social media and insurance issues.

“I can see myself sitting in front of an expert and asking questions for my business,” she said.

Among the speakers at the GROW event are Michael Rivera, state director of the New Mexico Small Business Development Center Network; Bill Allen, president and CEO of the Greater Las Cruces Chamber of Commerce; and John Woosley, director of the New Mexico district office of the U.S. Small Business Administration.

Chris Penner, director of the Arrowhead Technology Incubator, will give the luncheon keynote address. Penner will discuss his experiences as an entrepreneur. Garrey Carruthers, dean of the NMSU College of Business and vice president for economic development, will give the closing remarks.

For the one-on-one meetings, local experts will be on hand to help small business owners and budding entrepreneurs in a variety of fields such as Web design, marketing, commercial lending, taxes, insurance, information technology and international trade.

In addition to getting free advice from the experts, GROW attendees also will receive a jump drive that has templates, instructions, guidelines, checklists, information on how to open a Facebook account and more, Sanders said.

Along with the Arrowhead Center, GROW is sponsored by the Dona Aña Community College Small Business Development Center and the New Mexico Procurement and Technical Assistance Program.

Peter Ibarbo, president of the Ibarbo Consulting Group in Las Cruces, said small businesses in the area have many resources available to them, but the Arrowhead Center fills a special and needed niche.

“The Arrowhead Center provides a specific, technology-focused type of business incubation,” he said. “I think it is very critical to the economy to attract companies that require that connection with the university to provide them with research and with space.”

GROW: An Event for Entrepreneurs takes place from 7:30 a.m.-1:30 p.m., Nov. 4, at the New Mexico Farm & Ranch Heritage Museum, 4100 Dripping Springs Road. The cost is $49 to the public and $35.50 for students. For more information and to register, visit Grow2011.eventbrite.com.

Release courtesy of the New Mexico Economic Development Department

SANTA FE – New Mexico Economic Development Department Secretary Jon Barela announced Tuesday that New Mexico has been approved by U.S. Department of the Treasury to participate in the State Small Business Credit Initiative Program (SSCBI).

New Mexico will receive nearly $13.2 million in federal funds to put toward programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are not able to access the capital required to expand and create jobs. The New Mexico Economic Development Department (NMEDD) will contract with the New Mexico Finance Authority (NMFA) to operate the program.

“Small businesses are the backbone of New Mexico’s economy and the engines of economic recovery,” said Governor Martinez. “It is a priority for this administration to create a more business-friendly environment that encourages growth, investment, and job creation right here in New Mexico. This program is an important step toward accomplishing that goal and putting New Mexicans back to work.”

“These funds will help creditworthy small businesses access the lending they need to invest and hire, providing a powerful boost for economic growth and job creation,” said Deputy Secretary of the Treasury Neal S. Wolin. “Expanding access to credit will help ensure that more entrepreneurs and small businesses can invest in their local communities to put more Americans back to work.”

NMEDD and NMFA have agreed to initially focus the State Small Business Credit Initiative Program funding to a bank loan participation program, branded the Collateral Support Program (CSP), focusing on shorter term working capital loans, particularly for projects located in rural and underserved areas of New Mexico. NMFA will base CSP on its existing loan participation program Smart Money which allows NMFA to purchase from a regulated bank or credit union up to 49 percent of a loan it makes to a New Mexico business or non-profit. The rules limit the amount of NMFA participation to $5 million and that no more than $2 million be directed to any project unless significant economic development will occur as a result. More specifically, the business must create at least one full-time job for each $50,000 invested by the NMFA.  These same guidelines will be used in implementing the CSP.  Additional federal requirements are:

1) the funds are directed to small businesses that do not employ more than 500, and that credit support will not be extended to borrowers that have more than 750 employees, and

2) for every $1 in CSP utilized, it must be leveraged with a minimum of $10 in new private lending.

 “The Economic Development Department worked hard to make this funding available to small businesses in our state,” Barela said.  “The SSCBI funds will go a long way in our efforts to expand economic development throughout the state.”

Under SSBCI, all states were offered the opportunity to apply for federal funds for state-run programs that partner with private lenders and investors to increase the amount of credit available to small businesses. States must demonstrate that every $1 in federal funding will generate a minimum of $10 in new private lending.  Accordingly, the overall $1.5 billion federal funding commitment for this program is expected to result in at least $15 billion in additional private lending nationwide.

“We are in a unique position to help the state develop public-private partnerships for business growth and job creation,” said Denise Baker, chair of the New Mexico Finance Authority. “These new funds will increase our ability to partner with local banks and strengthen communities.”

The NMEDD and NMFA will be hosting outreach sessions for the CSP on the following dates and locations:

Monday, November 14, 2011 in Alamogordo site to be determined at 9 a.m.

Tuesday, November 15, 2011 at Morgan Hall in Deming, NM at 9 a.m.

Wednesday, November 16, 2011 in at the Hotel Encanto in Las Cruces, NM at 9 a.m.

Business owners and entrepreneurs are invited to the “2011 Business Owners & Entrepreneurs Symposium” to be held on Friday, November 4, 2011 from 8:00 a.m. – 1:30 p.m. The event will be held at the New Mexico Farm & Ranch Heritage Museum, 4100 Dripping Springs Road in Las Cruces, New Mexico.

The symposium will offer practical tools and advice on ways to start, improve and GROW your business. Bring examples of your current business ideas, marketing materials, business plans and any of the other aspects of your business you feel you need help with.  There will be experts on hand to work with you one-on-one to give you the specific tools and advice you need to tackle the problem.

To register for the event, visit: http://2011grow.eventbrite.com/.

The event is sponsored by the Arrowhead Center, the Dona Ana Community College Small Business Development Center (DACC-SBDC), and the New Mexico Procurement and Technical Assistance Program (NM-PTAP).

The City of El Paso’s Economic Development Division and the El Paso US Export Assistance Center are hosting a free supplier day event to promote the capacities of the regional suppliers on Thursday, November 10, 2011 beginning at 8:30 a.m.  The event will be held at the Butterfield Golf Club, 1858 Cottonwoods in El Paso.

The maquiladora supplier day is free, but companies are required to match the materials in demand. Flexaust, Genasco, and TECMA will take one-on-one meetings with suppliers.   The commodity buyers have listed the materials they are interested in sourcing in the attached list.  In addition to the B2B meetings, companies can purchase vendor tables to promote their products for $75.  The vendor table reservation form is attached here.

Participation is by invitation only and provided that suppliers meet the criteria on the list of supplies noted above.  There is a limit of two representatives from each supplier and suppliers must RSVP by Tuesday, November 8.

To RSVP or for more information contact Mayra De La Canal: delacanalmx@elpasotexas.gov.

Article courtesy of the NMSU News Center

By Janet Perez

The business of ensuring the nation’s security has evolved into a vast and intimidating industry, but that doesn’t mean entrepreneurs and innovative researchers are shut out of the field.

The 2011 National Security Technology Conference & Expo, hosted by New Mexico State University’s Arrowhead Center, is committed to helping entrepreneurs and researchers create networks, get valuable advice about venture capital and log face time with representatives from some of the biggest names in national security.

“This conference and expo will provide a venue for technology entrepreneurs and researchers to network with and learn from federal agencies, contractors and venture capitalists,” said Garrey Carruthers, dean of the NMSU College of Business and vice president for economic development.

The conference, sponsored by the Arrowhead Technology Incubator in support of a grant from the U.S. Department of Energy and the National Nuclear Security Administration, takes place Sept. 12 at the Las Cruces Convention Center, 680 E. University Ave.

Kathy Hansen, chief operating officer of the Arrowhead Center, said the conference aims to bring technologies being developed in labs to the attention of commercial ventures, as well as take technologies being developed by small businesses and expose them to potential customers.

One small business ready to make its National Security Technology Conference & Expo debut is the Navitus Group, a current client of the Arrowhead Technology Incubator. Josh Kauffman, the CEO and chief technology officer of Navitus, has developed a battery management system that is capable of handling high-current loads. The system also is constantly monitoring and maintaining the battery, which can make it stronger and increase performance.

With a booth at the expo, this is the first time Kauffman and Navitus are taking on the role of vendors.

“I’m usually on the other side – the guy walking around looking at other companies and their technologies,” he said. “The exposure and the clientele that are going to be walking through this conference are just too much not to be there.”

Small businesses will have booths at the expo alongside major entities, such as Sandia National Laboratories and Los Alamos National Laboratory. Hansen hopes small businesses and researchers in the region will take advantage of the exposure the expo offers as a way of bringing attention to their products.

“Many times, smaller businesses have a hard time knocking on the door and getting into DOD (Department of Defense) or DOE,” she said. “One speaker will talk about how DOD and DOE need to go to technology incubators such as Arrowhead in order to get access to those technologies being developed by small businesses.”

This year, the organizers of the National Security Technology Conference & Expo have opted to focus the event on the fields of cyber security, energy and aerospace.

“We tried to pick the areas that were the hottest topics, and energy is hot and certainly we have local businesses and researchers at NMSU involved in that,” Hansen said.

Also this year, a group of private investors and venture capitalists will be on hand to discuss what business sectors and technologies they are interested in funding.

“That’s very important, because a lot of ideas and technologies die for lack of that funding.” Hansen said. “Of course, the venture capitalists are usually later-stage funding. They are going to be funding technologies that look like they have near-term commercial potential.”

Kauffman understands all too well the importance of venture capital funding. His company already has received an initial investment of $200,000 and he credits the incubator at Arrowhead, particularly Chris Penner, director of business incubation, for helping him reach that milestone.

“I don’t have any doubt that the incubator has helped tremendously,” Kauffman said, “I think we would have gotten there eventually, but I think the incubator has accelerated that – and I’m talking accelerated by years.”

That statement underlines Hansen’s assertion that business incubators are a vital part of the economy.

“There is a much higher success rate for businesses that have been incubated than those that have not,” Hansen said. “Of course, our end goal is to grow the region, do economic development here and try to grow the number of jobs.”

For more information on attending or purchasing a booth at the 2011 National Security Technology Conference & Expo, visit arrowheadcenter.org.