The University of New Mexico Small Business Institute (SBI) at the Anderson School of Management is now accepting applications from small business owners for the Fall 2012 and Spring 2013 semesters for assistance in developing business projects such as marketing, expansion, financing and business plans.

Graduate and undergraduate students at UNM Anderson, guided by faculty advisors, offer consulting expertise in creating new business plans, expansion plans and marketing plans to small business owners in the Albuquerque area. The cost for this service is $500. Many private consulting services can cost up to several hundred dollars per hour.

"Not only is the fee a reasonable price for the amount of time and effort put into the report," said SBI Coordinator David Hammitt. "But the students also have access to dozens of business databases that would normally cost business owners thousands of dollars to use. Businesses are literally saving money while at the same time receiving the research in professional consulting reports."

Starting this fall, the SBI will also help small business owners in building websites and social media apps. The cost of participating in the website project is $600.00. Dr. Raj Mahto, Director of the SBI, is pleased the program has grown to include this important component for business owners.

"We are excited to be able to expand and help the community in this endeavor," says Dr. Mahto. "Not only does this service help business owners develop a good website and a strong social media plan, it is also a great learning experience for our students."

Due to high demand, space for the Fall semester is limited. To apply, visit Small Business Institute and click on Client Application. To apply for the website project, business owners need to specify that they need a website designed under Technology Focus. The deadline to apply for both programs is Wednesday, Aug. 29.

Since its founding in 1978, SBI has successfully helped more than six hundred local businesses including startup companies, expanding businesses, non-profit organizations, and family businesses. For additional information on the Small Business Institute programs contact David Hammitt at or call (505) 277-8869.