Background on Altagracia Gómez and Her Role
Altagracia Gómez, the coordinator of the Federal Government’s Business Advisory Council, has expressed concerns about the insufficient efforts by banks, government, and businesses to increase credit access for small and medium-sized enterprises (SMEs) in Mexico.
Current State of SMEs and Credit Access
According to data from Mexico’s National Institute of Statistics and Geography (Inegi), there are approximately 5.5 million SMEs in Mexico, which account for 99% of all businesses operating in the country.
Despite their significant contribution to the Mexican economy, SMEs continue to face challenges in accessing credit, a critical factor for their growth and sustainability.
The Plan México Initiative
In January, the Plan México was introduced, aiming to foster support for SMEs and improve their access to credit. Gómez emphasized the importance of addressing historical and systemic challenges in credit access during her speech at the 88th Banking Convention.
“We must consider the historical and systemic challenges in accessing credit… not enough is being done by all actors – banks, the government, and businesses interacting with SMEs,” Gómez stated.
Upcoming Agreement for SME Financing
During the 88th Banking Convention’s inauguration, it is expected that a deal will be signed between the federal government and the Mexican Banking Association (ABM) to promote financing for SMEs. The agreement aims to simplify requirements and reduce informality.
Long-term Vision and Insecurity Concerns
Gómez highlighted that the Plan México serves as a clear roadmap for long-term vision, with progress measured over time through the actions of various actors.
“The nature of Plan México is long-term, and it progressively allows you to measure the advancements of actions taken by different actors… The protagonist of Plan México is the Mexican entrepreneur, but it also benefits students or young individuals seeking their first job,” Gómez explained to the media.
Insecurity Concerns
Regarding insecurity in Mexico, Gómez acknowledged that it is a concern for all Mexicans across different age groups and federative entities.
“Security is a major priority, not just for entrepreneurs but for all Mexicans regardless of age and location,” she stated.
Gómez mentioned that the government and businesses have been working closely to address issues like highway robberies, extortion, and illegal fees. However, she admitted that it will take time for the country to overcome its security challenges.
“We understand that it took a long time to reach the current state of insecurity, and it will take some time to recover,” Gómez concluded.
Key Questions and Answers
- Who is Altagracia Gómez? Altagracia Gómez is the coordinator of the Federal Government’s Business Advisory Council in Mexico.
- What challenges do SMEs face? SMEs in Mexico struggle with limited access to credit, which is essential for their growth and sustainability.
- What is the Plan México? The Plan México is a long-term initiative introduced in January to support SMEs and improve their access to credit.
- What is the expected outcome of the agreement between the government and ABM? The agreement aims to simplify financing requirements for SMEs and reduce informality.
- What are the concerns regarding insecurity in Mexico? Insecurity is a significant concern for all Mexicans, affecting various age groups and federative entities. The government and businesses are working together to address issues like highway robberies, extortion, and illegal fees.
