Economic Challenges and the Role of SMEs
In the face of the current economic situation in Mexico, Beatriz Hernández Rojas, president of the Confederation of Mexican Business Chambers (COPARMEX) in Querétaro, emphasizes the importance of bolstering micro, small, and medium-sized enterprises (SMEs).
Government’s Growth Projection and Existing Challenges
The Mexican government anticipates a GDP growth rate between 1.8% and 2.8% for the upcoming year, but Hernández Rojas points out that several national and international factors pose challenges to this projection.
- Uncertainty surrounding US trade policies, which are crucial for Mexico’s economy
- Global conflicts causing supply chain disruptions and market volatility
- Uncertainty generated by the ongoing judicial reform in Mexico, which may lead to politically motivated decisions and discourage investments
Impact of External Factors on Mexican Economy
Hernández Rojas explains that external factors, such as trade policy uncertainties from the United States and global conflicts, have negatively affected supply chains and market stability. Additionally, US President Donald Trump’s policies have discouraged investment due to concerns about future trade relations and increased costs.
Importance of SMEs in Mexico
The COPARMEX president highlights the significant role of SMEs in Mexico’s economy, accounting for 7 out of every 10 jobs and contributing to over 52% of the GDP. She proposes focusing on strengthening these businesses to foster growth and development.
Querétaro’s SME Landscape
In Querétaro, 99.6% of the 97,696 existing economic units are SMEs, according to the 2024 INEGI Economic Census. Of these, 92.7% are microbusinesses, 6.9% are small and medium enterprises, and only 0.4% are large companies.
These SMEs contribute significantly to the state’s census-based added value, which amounts to 419,428 million pesos. However, large enterprises account for 48.3% of this value, while SMEs contribute 36.1%, and microbusinesses account for 15.6%.
Key Questions and Answers
- What are the main challenges facing Mexico’s economic growth? Hernández Rojas identifies uncertainty surrounding US trade policies, global conflicts affecting supply chains, and domestic judicial reform as significant obstacles.
- Why are SMEs crucial for Mexico’s economy? SMEs generate 7 out of every 10 jobs and contribute to over 52% of the GDP, making them essential for economic development.
- What percentage of economic units in Querétaro are SMEs? 99.6% of the 97,696 economic units in Querétaro are SMEs.
- How do SMEs contribute to Querétaro’s census-based added value? Although large enterprises contribute 48.3% to the census-based added value, SMEs account for 36.1%, and microbusinesses contribute 15.6%.
