Now that you have a little more context about the current state of entrepreneurship in the country , let's review in more detail some advantages and disadvantages of starting a business in Mexico .
Advantages of starting a business in Mexico
With your own business, it is possible to increase the average income level.
In 2023, SMEs saw a 46.6% growth in sales generated by their digital channel.
Mexico has a privileged geographical location, thanks to its proximity to the United States and the rest of Latin America.
The procedures for starting a business in Mexico are relatively simple.
As we recorded in the annual e-commerce report in Mexico , NubeCommerce 2024, Mexico was the first country with the highest growth in online retail sales worldwide.
The possibility of obtaining financial whatsapp number support, both private and government, for entrepreneurs.
Disadvantages of entrepreneurship in Mexico
Lack of knowledge and preparation in financial, legal and market matters of the average entrepreneur.
Lack of time, since many entrepreneurs are forced to have another job to survive while their business “takes off.”
Bureaucracy.
Boost your brand by creating your own online store.
Facts you should know about entrepreneurship in Mexico
If we zoom in on entrepreneurial projects in Mexico, there are many relevant facts that should be known to give us an idea of what it means to start a business in Mexico .
The Association of Entrepreneurs of Mexico (ASEM) conducted a study in which it surveyed founders of small, medium and large companies— throughout the Mexican Republic; we have extracted some data from this study that we found important:
64.6% of entrepreneurs are men and 35% are women.
85% of startups have a digital presence.
The main channels that entrepreneurs use to promote their brands are Facebook, their own website or online store, Instagram and WhatsApp.
Most companies have an annual turnover of less than 1 million Mexican pesos.
35% of businesses sell online .
44.2% of the businesses sell services, 27.1% products and 28% products and services.
Finding a profitable business opportunity is the main motivation that leads a person to start their own business.
Sales and customer loyalty strategies, as well as communication, marketing and advertising are the main aspects to improve.
For 24% of companies, online sales are greater than sales in physical channels.
WhatsApp, an online store and Facebook are the main channels for making sales.