Position #3 Microbusiness Needs

The 2016 New Mexico statutes section 13-1-88 defines a small business as “not a subsidiary or divisions of another business, having an average annual volume for the preceding three fiscal years which does not exceed $1,500,000.00.” The make-up of businesses under this limit may result in a lack of access to capital and other resources necessary to be competitive. NAWBO NM recommends New Mexico lawmakers establish an Office of Supplier Diversity to identify our diverse business community of minority, women, and veteran owned businesses through state certification; maintain and promote a directory of such businesses; and dedicate resources to enhance small business economic and procurement opportunities in the state.