Mexico legislator proposes priority financing for young entrepreneurs

Deputy Juan Carlos González Bareño of the PVEM has introduced an initiative to reform the Law for the Development of the Competitiveness of Micro, Small, and Medium Enterprises (MSMEs) and the Law of the Mexican Youth Institute. The proposal seeks to mandate that the Ministry of Economy treat young entrepreneurs as a priority group when granting access to MSME financing.

The initiative aims to establish public funds specifically for youth-led projects during the planning and execution of competitiveness policies. Additionally, it proposes that the Mexican Youth Institute present a comprehensive entrepreneurship support plan to the Federal Executive at the start of each six-year term. This plan would focus on improving access to technical assistance, infrastructure, capitalization options, and market access.

To facilitate this, the National Youth Program would manage collaboration agreements with public entities and non-governmental organizations, both nationally and internationally, to secure flexible credit and loan conditions. The proposal also suggests creating tax incentives to support young business owners. González Bareño noted that approximately 58.8 percent of employed youth in Mexico work in the informal sector, often driven by necessity.