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In order to assist you in starting
your new business the Greater Albuquerque Chamber of Commerce
has prepared this outline of recommended steps. Understand,
as you embark upon this endeavor that there are numerous resources
designed to help you get started. We recommend that you take
advantage of all of them.
I) Have
a plan
- The best way to accomplish this is to visit your local Small
Business Development Center (SBDC) run by the U.S. Small Business Administration. We highly recommend
you contact the Small Business Development Center. Additionally, pick up a copy
of the New Mexico Small Business Resource Guide from the SBA
or the Chamber.
CLICK HERE for the SBA New Mexico
Small Business Resource Guide!
The two SBDC offices in Albuquerque
are:
Albuquerque T-VI SBDC
5600 Eagle Rock Road NE
Albuquerque, NM 87106
(505) 224-5250
(505) 224-5201 fax
Albuquerque T-VI South Valley SBDC
700 4th Street S.W. Suite A
Albuquerque, NM 87102
(505) 248-0132
(505) 248-0127 fax
II) Do
your research –
The SBA has a very informative web site with a great deal
of general information about starting
a new business:
www.sba.gov/starting/indexstartup.html
III) Do
even more research - Know
which local, state and federal regulations will affect your
business. If you
have a food business, you are subject to health department
regulation. If you use chemicals, you will probably
be
affected by environmental regulations. Research the
various types of legal structure and determine which to utilize
for your business. The most common are Sole Proprietorships,
Partnerships (General or Limited), Limited Liability
Companies, and Corporations (C or S). We recommend you
consult with a tax accountant or tax attorney for advice
on which structure is best for your situation. We also
recommend speaking with your insurance agent regarding
insurance to protect your business. Recommended resources
for these questions and many more are listed on our
business resource pages.
IV) Getting
started
– Once you are ready to start, your first steps are to obtain
a State of New Mexico Tax I.D., then
a business license from the City Treasury Office.
How Do I Obtain a Business
License/Registration?
First obtain a Tax identification number
(CRS number) from the New Mexico Taxation and Revenue division
of the State of New Mexico (505-841-6200 Albuquerque). When
you have this number bring it to 600 2nd St NW, and fill out
the required forms, or click on the links below to print out
an application to save you some time at our office.
You can print out an application for a
home based business, all businesses that do
not have a permanent commercial office are considered a home
occupation. (Independent contractors, etc) NOTE: answer all
questions as they relate to how you will use your home in
relation to the business, taking phone calls, keeping records,
etc.
You can also print out an application for
commercial occupation, any business located
in a commercial office, warehouse, or retail area.
You can print out an application to register a
home daycare facility. This will allow you to
watch up to six children permissively, and up to twelve children
with a Conditional Use approval. See a Zoning Inspector at 600
2nd St. NW for additional information and application for the
Conditional Use. (There is a hearing fee for the Conditional Use
approval).
If your business is appropriate to the area,
you will be approved. You will then pay a registration fee of
$35 to the treasury department, and receive your registration.
The initial registration review and fee payment must occur at
600 2nd NW, the renewal for following years may be mailed in
provided you have not moved or changed your business. If you
move or change your business you will have to come back to 600
2nd NW and fill out a new form.
Click
here to access our list of small-business startup resources.
The Chamber also has a Business
Expansion Resource Guide available for download here.
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