Building Santa Fe's Economy One Business At A Time
January 2020
Meet Our Star Business

The Santa Fe SBDC is pleased to announce that SImon Woodruff's company, SciVista is to be recognized as its Star Business during festivities to take place in February during the Legislative Session.

Sci Vista has developed a data visualization tool called Summit VR, which is a platform to add three-dimensional data into virtual reality. Summit VR enables collaborative visualization of large data sets with medical, telecommunications and scientific applications to name a few. They expect to go to market broadly in a couple of years.

SciVista, established in 2018, employs 6 and is a spinoff from Woodruff Scientific, a Santa Fe research and development company, focused on electromagnets, diagnostic sensors and pulsed power systems.

Please join us in congratulating Simon Woodruff and his staff on their accomplishments.
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Business Owners Bulletin
January is 1099 Time! from Patriot Accounting Software blog

As a small business owner, you regularly make payments to the vendors you work with and pay wages to your employees. But if you deal with a 1099 vendor or contractor, the amounts of money you give them are considered 1099 payments.

Before a 1099 vendor performs work for your company, you must give them a copy of Form W-9 to fill out. Form W-9 , Request for Taxpayer Identification Number, gives you the 1099 vendor’s personal information so you can report their payments to the IRS.
For each 1099 vendor you pay at least $600 to, you must complete and file Form 1099-MISC , Miscellaneous Income. Use Form 1099-MISC to report how much you paid in miscellaneous income. Only include how much you paid in miscellaneous income. Do not make a Form 1099-MISC for payments you made to employees (use Form W-2 instead).

The deadline to file your 1099's is January 31, so if you need help call your SBDC!
Featured Workshops and Events
Santa Fe SBDC
Steps to Starting a Small Business
  • Is business ownership right for you? Find out January 14, $15 More

Introduction to Government Contracting
  • Find out if selling to the government is good for your business January 9, FREE More

Small Business Finance Fair
  • Shop deals with over 20 lenders. January 16, FREE More

Please note the Santa Fe SBDC will be closed January 20
Marketing Tips
Instagram Stories and Your Brand from Sue B. Zimmerman for Social Media Examiner

More than half a billion people consume Instagram stories every day. That’s a massive audience and it’s still growing. Instagram puts Stories right up at the top when you open Instagram.

Find out how to keep your brand top of mind by using this effective tool.
By the Numbers
Margin vs Markup - What's the Diff? Amanda Cameron for Patriot Software blog

Calculating margin and markup is key to setting prices that not only cover your expenses but also leave you with a profit.

Learn the difference between margin and markup and find out how these formulas are applied.
Good to Know
SBDC's Help Businesses Create More Jobs
Excerpt from the 2019 ASBDC National Impact Brochure
The New Mexico Small Business Development Center Network (NMSBDC) was established in 1989 through a partnership with the US Small Business Administration, the State of New Mexico, the New Mexico Association of Community Colleges, and the New Mexico Association of Independent Community Colleges. The NMSBDC Network State Office is located on the campus of the Santa Fe Community College in Santa Fe, NM. The program provides no cost business consulting and low cost business training to entrepreneurs throughout the state. Strategically located in 24 communities and serving all 33 counties throughout New Mexico, NMSBDC's consultants bring over 773 years of combined small business management and ownership expertise and have helped to create more than 25,000 jobs in the state since NMSBDC's inception. Entrepreneurs have access to subject matter experts in everything from accounting to social media and franchising to e-commerce.
For more information visit
Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions and/or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. All SBDC programs are extended to the public o a non-discriminatory basis. Reasonable accommodations for persons with disabilities and individuals with limited English proficiency (LEP) will be made if requested at least two weeks in advance. Contact Julianna Gutierrez, Santa Fe SBDC, 1950 Siringo Road, Santa Fe, NM 87505, 505-428-1343.