Small Business, MainStreet, and Entrepreneurship Initiative

Strengthen local business creation, retention, expansion, succession, and downtown vitality across Southeastern New Mexico.

Why It Matters

Small businesses are essential to every county in the region. They serve residents, workers, visitors, retirees, students, industries, and institutions. They are also one of the most direct ways to retain wealth locally.

A stronger small business ecosystem can help the region diversify, strengthen downtowns, support tourism, create career pathways, retain young people, expand local ownership, and reduce dependence on outside recruitment alone. This is especially important in communities facing population decline, downtown vacancy, tourism volatility, disaster risk, or energy-cycle exposure.

County-Specific Strategic Direction

Chaves County

Support entrepreneurs connected to Roswell’s regional service role, agriculture, food systems, aviation, healthcare, tourism, professional services, and downtown activity. Business support should prioritize local retail, restaurants, family-owned businesses, aviation-related services, agricultural suppliers, and small businesses that support population retention.

Eddy County

Support small businesses connected to energy services, mining support, logistics, industrial maintenance, tourism, downtown Carlsbad and Artesia, and local services for workers and families. Supplier development and procurement readiness should help local firms capture more value from major industrial activity.

Lea County

Support entrepreneurs tied to energy services, logistics, bilingual business support, youth entrepreneurship, local retail, and services in Hobbs, Lovington, Jal, Eunice, and Tatum. Business resilience and diversification should be central, particularly for businesses affected by energy cycles.

Lincoln County

Support mountain tourism, outdoor recreation, arts, hospitality, restaurants, lodging, wellness, healthcare-adjacent services, remote work entrepreneurship, and business succession. Disaster-resilient business planning should be emphasized, especially for tourism and hospitality businesses affected by wildfire, flooding, and seasonal volatility.

Otero County

Support tourism, military-serving businesses, aerospace-adjacent services, downtown Alamogordo, Cloudcroft tourism, Tularosa heritage-based entrepreneurship, outdoor recreation, and small businesses serving military families, civilian workers, and visitors.

Key Activities

  1. Map small business support resources across the region and identify service gaps.
  2. Create a regional referral network connecting entrepreneurs to SBDCs, chambers, lenders, MainStreet organizations, procurement support, and technical assistance.
  3. Expand technical assistance in finance, marketing, e-commerce, permitting, succession planning, procurement, business planning, and disaster preparedness.
  4. Support MainStreet and downtown revitalization efforts through façade improvements, placemaking, events, wayfinding, and district-level business support.
  5. Develop targeted outreach for Hispanic-owned businesses, rural entrepreneurs, tribal entrepreneurs, veterans, women-owned businesses, and youth entrepreneurs.
  6. Connect small businesses to tourism, local procurement, government contracting, and major industry supply chains.
  7. Support business succession planning in rural and aging communities where locally owned businesses may be at risk of closure.

Lead and Supporting Partners

Potential Lead Partners

  • SNMEDD
  • SBDCs
  • Chambers Of Commerce
  • MainStreet Organizations
  • Local Governments

Potential Supporting Partners

  • New Mexico Economic Development Department
  • New Mexico MainStreet
  • CDFIs
  • Local Banks
  • Credit Unions
  • USDA Rural Development
  • Tourism Organizations
  • Higher Education Partners
  • Local Business Owners
  • Procurement Offices
  • Mescalero Apache Tribe
  • Nonprofit Organizations
  • Community Development Partners

Estimated Cost Range

Costs will vary depending on the scale of technical assistance, entrepreneurship programming, downtown revitalization, procurement support, capital access, and business resilience activities.

Activity Type Examples Estimated Range
Resource Mapping and Referral Network Development $50,000–$150,000
Technical Assistance and Entrepreneurship Programming $150,000–$750,000
MainStreet, Downtown, or Commercial Corridor Support $250,000–$2 million+
Procurement Readiness and Supplier Support $100,000–$500,000
Revolving Loan Funds, Grants, or Capital Access Tools $500,000–$5 million+

Potential Funding Sources

  • EDA
  • USDA Rural Business Development Grants
  • CDFIs
  • Local Revolving Loan Funds
  • State Small Business Programs
  • New Mexico MainStreet Resources
  • Private Banks
  • Philanthropic Funds
  • Local Government Contributions
  • Chamber Partnerships
  • Private Sponsorships

Performance Measures

  • Number of businesses served.
  • Number of new businesses started.
  • Number of businesses retained or expanded.
  • Amount of capital accessed by small businesses.
  • Number of businesses receiving procurement support.
  • Number of downtown or commercial corridor projects completed.
  • Commercial vacancies reduced.
  • Number of businesses participating in succession planning.
  • Number of Hispanic-owned, women-owned, veteran-owned, tribal, youth, or rural businesses served.
  • Number of businesses completing continuity or disaster preparedness plans.

Timeline

  1. Year 1: Map resources, identify gaps, and create referral network.
  2. Years 2-3: Launch technical assistance, procurement support, downtown support, and targeted entrepreneur outreach.
  3. Years 4-5: Expand capital access tools, succession planning, and business resilience programming.