The place to start and grow your business

WESST Blog

Debt

Are credit cards, personal loans and other debts cutting into your profits?»

If you’re using debt products like this for your business, your best bet is to pay them down as quickly as possible, and then close the accounts when they are paid off.

new year

Three New Year Resolutions Business Owners Should Keep»

As the New Year begins, many entrepreneurs are thinking about what their business can do better in 2015. While each individual business has different improvements they are able to make, here are three universally applicable “New Year’s Resolutions” every business owner should make a point to keep.

trend

Plan For ‘Seasonality’ is Foundation for Business Success»

Just like the vendors that come and go with the Balloon Fiesta, many businesses experience months of both high and low sales volume depending on the time of year. This concept is referred to as the “seasonality of sales,” and planning for it accurately is a critical component of successful business ownership.

checklist

Part 4: 10 Items You Won’t Easily Learn About When You Register a Business in NM»

One of the most difficult and complicated facets of owning a business is addressing employee issues. Aside from the entire Human Resources function, payroll reporting can be complex and costly. Before ever writing that first employee’s payroll check, business owners should confirm and identify that the person working for them is considered an “employee” under federal statutory guidelines.

checklist

Part 3: Ten Tax Tips to Know When You Register a Business in New Mexico»

In Part 3 of our 4-part series, REDW covers an additional 2 of the 10 items to be aware of when registering a business in New Mexico: Schedule C mismatch audits and Cash basis vs. Accrual basis reporting.

checklist

Part 2: Ten Tax Tips to Know When You Register a Business in New Mexico»

In Part 2 of our 4-part series, REDW covers an additional 3 of the 10 items to be aware of when registering a business in New Mexico: Available credits, nexus, and apportionment.

checklist

Part 1: Ten Tax Tips to Know When You Register a Business in NM»

REDW will cover 3 of the 10 items to be aware of when registering a business in New Mexico: types of income not subject to NM gross receipts tax, gross receipts tax deductions, and the difference between an exemption and a deduction for CRS reporting purposes.

budget

Budgeting Is Key To Business’ Financial Success»

One of the most important tools an entrepreneur can develop for a business is a budget. Budgets allow a business owner to not only plan for expenses, but to analyze expenditures and make changes according to the needs of the enterprise.

paint

Microenterprises are Reaching New Markets with Craft Entrepreneurship»

Micro-entrepreneurship is on the rise in the US, especially with the help of technology-focused companies that are creating platforms that enable the micro-entrepreneur to sell products and services directly to consumers.

business incubator

The Best Kept Secret in Economic Development»

WESST has been serving and guiding entrepreneurs for over a quarter century — taking their client’s ideas / dreams from embryonic concept to flourishing enterprises. WESST comprises one of the most intense and thorough teams of subject matter experts in New Mexico.