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Mass Mutual Life Insurance produced an ownership transition survey back about a decade ago.  The survey results were based on feedback and answers from family-owned businesses.  It produced some very interesting results, and is worth examining even today.  While the survey at this point is quite outdated in terms of the timeline, there are still many valuable nuggets of information to be gleaned from it.  Let’s dive in and take a closer look at the...

20 January, 2021

Mass Mutual Life Insurance produced an ownership transition survey back about a decade ago.  The survey results were based on feedback and answers from family-owned businesses.  It produced some very interesting results, and is worth examining even today.  While the survey at this point is quite outdated in terms of the timeline, there are still many valuable nuggets of information to be gleaned from it.  Let’s dive in and take a closer look at the...

15 January, 2021

“It’s the COVID effect,” Duran said [Stephanie Duran, an associate broker with Barker Realty]. “People have been realizing they don’t need to be at the office. They can live anywhere. At the same time, they are fleeing higher density. Instead of just retiring to Santa Fe, they can live in Santa Fe now instead of having a multidecade dream of living here.” Demand for homes in Santa Fe continues at a fast pace, drawing homebuyers from...

13 January, 2021

Business editor Teya Vitu reports that construction is booming in Santa Fe. Seventeen apartment projects and a 68-unit independent living center have been recently completed or under construction. Between January and November 2020, 281 building permits for single-family dwellings were pulled. Construction activity and related job growth have ranked Santa Fe in or near the top ten among the nation's 358 metropolitan areas. Read the full article on the New Mexican....

12 January, 2021

The Economic Development Department has published the most recent series of county economic reports with detailed economic and employment data for all of the 33 counties as well as a statewide snapshot, Cabinet Secretary Alicia J. Keyes said today. The reports with a Dec. 2020 publication date cover the first quarter of the 2021 fiscal year – July, August, and September 2020 - during the COVID-19 public health emergency. “This community-level data, delivered in a timely and...

21 December, 2020

You shouldn’t expect to sell your company overnight.  For every company that sells quickly, there are a hundred that take many months or even years to sell.  Having the correct mindset and understanding of what you must do ahead of time to prepare for the sale of your company will help you avoid a range of headaches and dramatically increase your overall chances of success. First, and arguably most importantly, you must have the right frame...

16 December, 2020

[caption id="" align="alignleft" width="365"] Recently constructed, SpinLaunch's 10,000 square foot Integration Facility and Mission Control at Spaceport America[/caption] A company that is developing and testing a mass accelerator with the aim of launching satellites into space orbit, using kinetic energy instead of rockets, is expanding at New Mexico’s Spaceport America, Cabinet Secretary Alicia J. Keyes announced today. SpinLaunch signed a lease at Spaceport America in 2019 and has since invested in test facilities and an integration facility....

15 December, 2020

When it comes to buying or selling a business, there is no replacement for a solid confidentiality agreement.  One of the key ways that business brokers and M&A advisors are able to help buyers and sellers alike is through their extensive knowledge of confidentiality agreements and how best to implement them.  In this article, we will provide you with an overview of what you should expect out of your confidentiality agreements. A confidentiality agreement is a...

12 December, 2020

The simple fact is that selling your business is likely to be the single most important financial decision you’ll ever make.  With this important fact in mind, it is essential that you prepare far in advance.  Let’s dive in and take a look at some of the key items you’ll want to check off your list before placing your business on the market. Think About Legalities When it comes to selling a business, legal issues should be...

07 December, 2020

ARTICLE BY: NAOMI JOHNSON If you are a small business owner, chances are you’ve never experienced anything quite like the challenges created by the pandemic. Maybe your business has been closed since March, or maybe you’ve been allowed to reopen at a limited capacity. Whatever the circumstances, it’s essential to prepare for the future—a future where your business is up and running, whether it’s at full capacity or not. For you to be adequately prepared, not only...

04 December, 2020

Most business buyers and sellers are wondering what 2021 and beyond will bring.  BizBuySell and BizQuest President Bob House provided a range of insights stemming from BizBuySell’s 3rd Quarter Insight Report and a survey of over 2,300 business owners.  The simple fact is that the pandemic has most definitely had a major impact on the buying and selling of businesses.  This fact is obvious.  But diving deeper, there are a range of insights that can be...

25 November, 2020

Pledges $1 Billion Investment and Additional 1,000 Jobs Today, New Mexico Governor Michelle Lujan Grisham and Albuquerque Mayor Tim Keller together with Netflix Co-CEO Ted Sarandos announced that Netflix, the world’s leading internet entertainment service, plans to boost its presence in the state by expanding ABQ Studios and committing to an additional $1 billion in production spend. The expansion will add 300 acres to the company’s existing space at ABQ Studios, located in Albuquerque’s Mesa Del Sol...

23 November, 2020

Goodwill is a term that might cause a little confusion for some.  But at its heart, it is a relatively straight-forward concept.  Goodwill is generally viewed as a term that encapsulates everything from a business’s reputation to the goods, services and products it provides.  The key idea is that there is goodwill if the business is viewed as a true and functioning business that has longevity in the marketplace.  The Importance of Reputation It is important to...

23 November, 2020

For every reason that a pending sale of a business collapses, there is a positive reason why the sale closed successfully.  What does it take for the sale of a business to close successfully?  Certainly there are reasons that a sale might not close that are beyond anyone’s control.  A fire, for example, the death of a principal, or a natural disaster such as a hurricane or tornado.  There might be an environmental problem that...

13 November, 2020

Today, the Bureau of Economic Analysis (BEA) released data on the size and scope of the outdoor recreation industry in the U.S. and in New Mexico. In New Mexico, the updated data show that the outdoor economy contributed $2.4 billion to the state's GDP in 2019 (2.2% of GDP). According to the report, 35,065 people were employed in this sector, with $1.2 billion in total income. At the national level, the data shows that the outdoor recreation...

11 November, 2020