Starting a new business can be frustrating, especially when you have the information you need. However, if you plan your business and contacting the right government offices to find out the requirements for a license, you will have no problem to create a successful business at home in New Mexico. Use the help of one of the many Development Centers Small Business ( Small Business Development Centers) in New Mexico for sources and additional guidance to start your business.
Decide the type of home business you want. Consider options oriented services , as these are easier to start and require less investment. The most common types of business services are cleaning, gardening, child care and business online.
Make a business plan because it will help you to avoid failure. Not having a business plan does not automatically mean that your business will fail. However, according to the Centre for Small Business Development in New Mexico, many businesses fail because home have little or no planning. Develop your business address following your business plan. Specifies the description of your business, a description of your products or services and your executive summary (who has what position). Perform market analysis and determine who your competition in your business plan. Conducts a financial analysis and determines who the key personnel. All these factors will lead not only to open your business, but also to manage it. Concentrate all your activities on what is established in the business plan.
Decide the legal structure of your business in New Mexico. Determine who or who the owners. Base your decision on tax issues, the nature of business, the required capital and the participation of others. The legal structures include companies of a single owner, the company limited to companies and corporations generally. Discuss these options with an accountant or attorney fees.
Define a name for your business. The name of your business should reflect your service or product, but it should be something easy to remember.
Get the documentation and the necessary licenses in New Mexico. In most cases, you only need to get a receipt for tax registration status and your city. Depending on your business, you may also need other permits or special licenses. Write or call the Secretary of State for licensing requirements.