Walter Bracken, owner of BMC Tactical, said that New Mexico's small-business environment is more challenging than that of neighboring states due to weak growth and development. This statement was made on the New Mexico Sun's "The Heart of Business" podcast on YouTube.
"If you can make it in New Mexico as a small business, you can make it anywhere," said Bracken. "It's tough. Look at the economic condition here compared to everyone else around us. We are definitely the donut hole."
According to U.S. News' 2025 state rankings, compiled by World Population Review, New Mexico ranks 47th overall, with its economy at 43rd and education at 50th. These rankings place it well behind nearby states such as Texas, which is ranked 29th overall with the second-best economy; Colorado, ranked 11th with the sixth-best economy; and Arizona, ranked 30th with the fifth-best economy. For small-business owners considering market opportunities, these disparities suggest slower momentum in New Mexico, echoing Bracken's view that the state is the regional "donut hole."
Small businesses are a crucial component of New Mexico's economy. The state has 166,301 small firms that constitute 99% of all businesses and employ 322,131 people, accounting for 53.1% of the workforce. Between March 2022 and March 2023, job openings and expansions added 88,288 jobs while closures and contractions resulted in a loss of 67,905 jobs, leading to a net gain of 20,383 jobs. Small businesses contributed to 87.7% of this net job gain, highlighting their importance in statewide economic growth.
The Bureau of Economic Analysis (BEA) reported that New Mexico's GDP growth in the second quarter of 2025 was primarily driven by mining, quarrying, and oil & gas extraction industries. While there was an overall increase in GDP, the concentration in a single commodity-linked industry suggests that the state's economic performance remains vulnerable to fluctuations in energy prices rather than being diversified across sectors.
The Better Business Bureau (BBB) profile for BMC Tactical describes it as a long-established firearms and tactical retailer with an A+ rating but not BBB-accredited. The listing highlights the Bracken family's leadership role in Albuquerque's market. This stability underscores Bracken's assertion that succeeding in New Mexico's demanding business climate requires persistence and customer trust.
