With more than $6,953.00 million dollars in grants and additional local government funding sources of $6,635.00 million dollars, the majority of the federal budget in government grants is put into the business sector every year as small businesses and large corporations are the foundation of the economic growth in New Mexico. There are 36,326 business establishments in the state of New Mexico, and they break down to the following:
New Mexico Business Sector Breakdown by Size:
- 20,365 registered businesses in New Mexico have 0 to 4 employees. People who work at home with sole proprietorship are included in this breakdown.
- 6,218 registered businesses in New Mexico have 5 to 9 employees.
- 3,992 registered businesses in New Mexico have 10-19 employees.
- 3,352 registered businesses in New Mexico have 20-99 employees.
- 859 registered businesses in New Mexico have 100 to 499 employees.
- Over 1,540 registered businesses in New Mexico have over 500 employees.
New Mexico Business Sector Breakdown in Service Industries:
- 4,812 registered businesses in New Mexico are in the Professional, Scientific and Technical Services sector.
- 1,992 registered businesses in New Mexico are in the Administrative, Support, Waste Management, and Remediation Services sector.
- 4,060 registered businesses in New Mexico are in the Accommodation and Food Services sector.
- More than 4,127 registered businesses in New Mexico are also service orientated businesses but are not categorized to the above sectors.
If you are in the farming industry, you may be eligible to apply for small business grants as well. There are more than 21,000 farms in the state of New Mexico.
Starting and managing a small business in New Mexico is not an easy task. Over $21,378,606,000.00 US dollars are paid to employee salaries/payroll alone in the state of New Mexico and more than 6,626 businesses declare bankruptcy every single year. Although the federal government does not publically provide grants for starting and expanding a business, in New Mexico, some small business grants are given to business owners to start and grow their ventures, and grant recipients do not have to pay back the funding from government. Therefore, it makes sense to look into small business grants as one of your sources to fund your business.
To apply for business grants in New Mexico, contact New Mexico financial aid agencies.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state:
Small Business Grants in Local StatesAlabama Alaska Arkansas Arizona California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Grant application guides and resources
It is always free to apply for government grants. However the process may be very complex depending on the funding opportunity you are applying for. Let us help you!Apply for Grants