Small Business Majority has created a comprehensive state policy agenda to ensure entrepreneurship is at the center of a thriving and inclusive economy in New Mexico. New Mexico's 154,000 plus small businesses account for 99% of all businesses in the state and employ more than half of workers in the state, according to the U.S. Small Business Administration.
This fall, The Bottom Line webinar series has brought together U.S. Small Business Administration (SBA) officials, small business advocates and subject matter experts for discussions on how to address the economic challenges facing small businesses today. Through these webinars, members of the small business community have been connected to tools and resources for long-term, stable growth.
Entrepreneurs continue to navigate a number of challenges operating their businesses, more than two years since the COVID-19 pandemic started. Small Business Majority and Start Small Think Big surveyed small business owners and managers in their networks to understand their current business conditions, how they are faring amid rising inflation, and what they need to maintain and grow their businesses over the next six months to a year.
In celebration of National Hispanic Heritage Month, we co-hosted a Twitter chat with Women's Business Development Center (WBDC), Support Latino Businesses and America’s Small Business Development Center (ASBDC) to share opportunities and challenges facing Hispanic and Latino small business owners.
Below is a brief recap of the questions and a sample of the great tips and information shared during the chat.
When Ramon Alvarez was 9 years old, his family moved to a small ranch just outside of Fresno, California. He worked to help his family make a living until he left for school. While working to pay his way through college, he fell in love with retail.
After years of gaining experience at corporations like Home Depot, where he oversaw the opening of stores across the U.S. and in South America, he fulfilled his dream of opening a business of his own with his wife.
Today, John Arensmeyer submitted a letter to Chairwoman Waters (D-CA-29) and Ranking Member McHenry (R-NC-10) of the U.S. House Committee on Financial Services urging passage of HR 6814. The Small Business Fair Debt Collection Act extends protections under the Fair Debt Collection Practices Act (FDCPA) to small businesses with loans or obligations that are less than $2.5 million to ensure debt collectors have guardrails on what they can do to collect these debts.
Small Business Majority writes in strong support of AB 2314, which would require any commercial financing products that leverage state funding—such as loan guarantee programs—to include several financing rights and protections for small business borrowers.
Today, Small Business Majority and more than 50 small business organizations sent a letter to Congressional leaders underscoring the importance to preserve the $10 billion allocated to the State Small Business Credit Initiative program. As representatives of small businesses around the country, our organizations know firsthand that access to capital can determine the success of any small business and that is why we rise to show our support for preserving a program that is instrumental in helping small business owners access much-needed capital.
In April, we celebrate National Financial Literacy Month, which serves as an opportunity to review your finances, assess your financial literacy and how it can help you take your business to the next level. In celebration of this special month, we reached out to some of our Venturize partners to get their thoughts on National Financial Literacy Month, key advice for business owners, and how their organizations work to support the small business ecosystem.
On April 8, Small Business Majority submitted a letter to the Chairwoman and Vice Chairman of Budget & Fiscal Review Committee in support of Governor Newsom's proposed budget, which includes critical funding and measures to support small business recovery.
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