Mexico's family businesses face challenges in generational continuity

Family businesses in Mexico face significant challenges regarding generational continuity. While these enterprises account for approximately 85% of Mexican companies, generate 75% of the GDP, and provide over 70% of national employment, research from the IPADE Business Family Research Center indicates that only between 6% and 9% successfully reach a third generation.

To ensure survival, experts suggest that the third generation must focus on modernizing through digitalization, professionalizing administration, and diversifying products. Alberto Granja Gómez of Valladolid Caja Financiera emphasizes that continuity depends on making informed financial decisions and incorporating technology to grow family heritage rather than just preserving it.

In Michoacán, economic development strategies are being framed around the concept of shared prosperity. Fabiola Alanís stated that the current administration's vision, aligned with President Claudia Sheinbaum’s Plan México, aims to create an environment where producers, entrepreneurs, and workers benefit simultaneously. This includes the Plan Michoacán, which focuses on public investment, infrastructure, and security to support small and medium-sized enterprises by reducing bureaucracy and corruption.