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PNM Job Growth Initiative Supports Small Business Growth in New Mexico

PNM Job Growth InitiativeSmall businesses across New Mexico are encouraged to apply for assistance to help them expand their businesses through the new PNM Job Growth Initiative. The new program will offer mentoring and consulting services, and technical assistance to help them build web sites and an online presence to increase sales and business growth.

Only 37 percent of small businesses in New Mexico have their own web site. This means they are missing out on opportunities to capture more business through web sales. The Public Service Company of New Mexico recently awarded $125,000 grants each to two organizations, Accion and Wesst, both small business lenders in the New Mexico area, to provide training and technical assistance to help small firms build online marketing and sales.

The grants enable the two companies to provide important services that will help small businesses expand and increase job growth in New Mexico. Agnes Noonan, President of WESST, stated: "New Mexico is lagging behind, so this initiative will help businesses develop an online presence by offering consulting and training on new technological tools, such as social media."

In addition to technical and consulting assistance, the two organizations want to help small businesses with capital needs through low-interest, flexible loans to start up companies. PNM expects the programs to help create more than 150 new jobs in the next two years.

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