SANTA FE, NM - Since launching the tourism business counseling program through a partnership between the New Mexico Tourism Department (NMTD) and the New Mexico Small Business Development Center (NMSBDC) in June, an estimated 618 tourism jobs were saved and nearly $26 million in loans and equity investments we secured for tourism-related small businesses in need of support during the COVID-19 pandemic.
Since the launch of this partnership, tourism business counselors have conducted over 10,000 documented contacts to tourism-related small businesses and provided over 2,000 hours of direct business counseling to business owners.
The tourism business counseling program provided direct counseling assistance to 652 tourism-related small businesses in New Mexico. Of those tourism-related small businesses that received counseling assistance, 43 percent were minority-owned businesses and 24 percent were veteran-owned businesses.
“We’re very proud of the partnership we were able to form with NMSBDC and we are grateful for the results it has yielded," said Cabinet Secretary Jen Paul Schroer. "The Tourism Department will continue to look for ways to provide our small businesses with the resources and expertise they need to make informed decisions critical to the future of their business."
NMSBDC recently unveiled a financial projection tool to help tourism-related businesses understand different financial scenarios so business owners can make the best decisions for their business. This financial projection tool is available through counseling appointments with the NMSBDC.
To learn more about the tourism business counseling program and schedule an appointment with a tourism business counselor, tourism business owners can visit the NMTD website. Business owners can also schedule an appointment by phone:
Northern New Mexico - (505) 300-2781
Southern New Mexico - (575) 800-0345