Introduction
In 2025, Mexican small and medium-sized enterprises (SMEs) faced a complex landscape marked by global economic uncertainty and specific internal factors, such as political transitions and regulatory environments. These operational challenges translated into significant financial pressures, highlighting the need for agile and transparent financing mechanisms.
The Top 5 Financial Challenges for Mexican SMEs in 2025
- Limited Access to Traditional Financing
The primary obstacle to the growth of Mexican SMEs in 2025 was restricted access to traditional bank credit. This issue persisted due to high-interest rates and widespread economic uncertainty, discouraging investment and consumption. Consequently, financial institutions were hesitant to grant long-term loans.
According to the Association of Mexican Entrepreneurs (ASEM), about 35% of entrepreneurs reported difficulties in obtaining financing. Data from the Bank of Mexico (Banxico) indicates that SMEs still heavily rely on their own resources or commercial banking, but with credit approval rates that do not meet the total demand.
In response, Aklara, a financial factoring marketplace, saw up to 20% increases in requests for financial support through factoring by small and medium-sized enterprises. Aklara states that entrepreneurs view this type of resource as an alternative during insolvency situations and periods of high capital demand, among other factors.
- Political and Regulatory Uncertainty
The political environment, including national and international government changes, generated volatility and uncertainty for investors. Proposed reforms, such as judicial reform, and the potential renegotiation of specific T-MEC aspects, along with currency fluctuations and a tariff war, affected the confidence necessary for long-term investment.
Many analysts and experts, including those at the World Bank, downgraded their 2025 GDP growth projections due to a lack of investment confidence, directly impacting the business environment for SMEs.
- Liquidity and Working Capital Pressures
The economic slowdown and extended payment cycles by clients, including large corporations and government entities, created severe liquidity pressures and working capital requirements for SMEs.
The debt to suppliers remained a problem, primarily affecting the cash flow of smaller companies or those relying on few clients and their ability to meet operational obligations, such as payroll and payments to their own suppliers. This situation has brought Aklara closer to companies in sectors like logistics and transportation (15% of its client portfolio), food and beverages (20%), services (25%), agriculture (15%), energy (10%), and others (15%).
- Increased Tax Burden and Operating Costs
The 2026 Economic Package, discussed and shaped by the end of 2025, introduced new fiscal measures impacting the formal sector. These included increased retention on digital platforms, affecting over a million SMEs using e-commerce; and the Special Production and Services Tax (IEPS).
As part of this Economic Package, a 10.5% retention was proposed on digital platform sales, representing an additional burden for SMEs dependent on e-commerce for operation and growth. According to Aklara, these economic units will seek to offset this fiscal burden through financing alternatives or by transferring the load to the final customer or user.
- Digitalization and Cybersecurity Challenges
While digitalization presents an opportunity, it posed operational and financial challenges for many SMEs. Initial technology investments and employee training, combined with growing cybersecurity risks, represented challenges for which they were not always financially prepared.
Predictions for 2026 and the Role of Financial Factoring
The outlook for 2026 is cautiously optimistic, with PIB growth projections ranging from 1% to 1.4%, according to Bank of America (BofA) and analyst consensus. The expectation that trade uncertainty with the United States, related to Donald Trump’s volatile decisions, may resolve mid-year and the possibility of a slight U.S. economic rebound offer hope.
Alejandro Cortina, Co-CEO of Aklara, states: “In this context, financial tools like factoring will become crucial solutions to address SMEs’ financial challenges, as the natural alternative to anticipated limitations in traditional banking financing access in the coming year.”
Financial factoring allows companies to obtain immediate liquidity by selling their accounts receivable or invoices to a financial institution, facilitating access to working capital for business continuity, especially for small and medium-sized enterprises.
According to the Association of Multiple-Purpose Financial Societies in Mexico (Asofom), 46.6% of Mexican SMEs have turned to factoring as a financing alternative due to limited bank credit access. Aklara predicts peaks of up to 30% in factoring requests, particularly during high seasons like Christmas.
Cortina anticipates that “for 2026, factoring will gain ground as it provides agile, digital, and secure resource access, vital elements amidst the persistent lack of traditional banking financing. By leveraging factoring, SMEs can mitigate 2025’s liquidity challenges and capitalize on 2026’s opportunities, despite the uncertain outlook that hints at a slight economic recovery.”
Key Questions and Answers
- What were the main financial challenges for Mexican SMEs in 2025?
The primary challenges included limited access to traditional financing, political and regulatory uncertainty, liquidity and working capital pressures, increased tax burden and operating costs, and digitalization and cybersecurity challenges.
- What predictions does Aklara have for 2026?
Aklara anticipates that factoring will become more popular as it provides agile, digital, and secure resource access amid persistent traditional banking financing limitations. This will help SMEs overcome 2025’s liquidity challenges and capitalize on 2026’s opportunities, despite the uncertain economic outlook.
