There are around 160,000 small businesses in New Mexico. These small businesses employ about 340,000 workers. New Mexico has 143,909 small businesses. Of those, 40,611 have employees. The remaining 103,298 have no employees. There are 111,370 self-employed persons in New Mexico.
Starting a Business in New Mexico
To register a business in New Mexico costs $50. You will get a business tax ID number. If your business applies for taxes, you will receive state tax ID numbers. Most licenses in New Mexico cost $35 per year.
Research your business idea in New Mexico. See if there is demand for your product or service. New Mexico’s business costs make it good for startups. The industry and natural beauty offer opportunities.
Grant Opportunities
Grant providers in New Mexico offer tailored funding. This funding can help launch innovative services. It can expand operations or enter new markets.