Introduction
Female entrepreneurship in southern Mexico is gaining momentum, driven by two crucial factors: access to funding and financial literacy training. Despite historical challenges faced by women in the region to start or grow their businesses, various initiatives aim to close this gap and bolster women’s role in local economic development.
The Landscape of Women-Owned Businesses
According to the National Institute of Statistics and Geography (Inegi), there are 1.6 million micro, small, and medium-sized enterprises (mipymes) in Mexico owned by women, with the majority concentrated in southern states like Oaxaca, Guerrero, Yucatán, Chiapas, and Campeche.
Financing Disparity
Oscar Cruz, president of Sofome Avanza Solido, acknowledges the existence of a funding gap between women-owned businesses in northern and southern Mexico. “Unfortunately, yes. In states like Chiapas, which is quite large, there are rural communities without access to traditional banking services.”
Nationally, only 36% of women have access to formal credit, according to the National Financial Inclusion Survey (ENIF) 2024. The report also highlights that while the northwest has the highest percentage of individuals with formal credit (46.2%), southern Mexico has the lowest (29.9%).
Training and Support
Oscar Cruz explains that for women in southern Mexico to consolidate and grow their businesses, they require greater access to funding, but also need appropriate tools such as financial education, budgeting skills, and payment tracking for suppliers.
Inegi data shows that women who speak indigenous languages have less access to financial products, with only 50% having access compared to 66% for men.
Avanza Solido has provided over 1,300 million pesos in credit nationwide, primarily in Chiapas, offering credits with an average amount of 23,000 pesos that women entrepreneurs use to purchase supplies.
Empowering Women Entrepreneurs
To support micro-entrepreneurs like artisans and shop owners in growing their businesses, Sofome conducts a quality of life and poverty diagnosis that includes a traffic light system starting at red due to limited access to healthcare, housing, and education. Gradually, with funding and support, it advances to yellow and green.
They also help combat discrimination and empower women. “There are many rural areas where the issue of discrimination against women exists, where previously she would obtain a loan, but her husband would take it away. We’ve had to educate and raise awareness about these matters, emphasizing that her name is linked to her children’s and mother’s well-being.”
Key Questions and Answers
- What is the current state of women-owned businesses in southern Mexico? There are 1.6 million mipymes owned by women, primarily in Oaxaca, Guerrero, Yucatán, Chiapas, and Campeche.
- What challenges do women entrepreneurs face in accessing funding? Women in southern Mexico, especially those speaking indigenous languages, face limited access to formal credit. Nationally, only 36% of women have access to formal credit.
- What initiatives are addressing these challenges? Organizations like Sofome Avanza Solido provide financial support and training to empower women entrepreneurs, helping them overcome discrimination and improve their businesses.
- How does Sofome support women-owned businesses? Sofome conducts quality of life and poverty diagnoses, offers financial training, and provides credit to help women entrepreneurs grow their businesses.
