Mexico's micro, small and medium enterprises receive five financial steps for growth

On International Micro, Small and Medium Enterprises (MiPymes) Day, authorities highlighted that 99.8% of Mexican businesses are MiPymes, generating about 68% of the country's employment. In Michoacán, 97.3% of firms are micro‑businesses, accounting for 63.6% of local jobs. Challenges identified include limited financing, low digitalisation, low productivity, informality and regulatory burdens.

Financial adviser Alberto Granja of Valladolid Caja Financiera urged entrepreneurs to separate personal and business finances, adopt a disciplined monthly budget, digitalise payments and sales, use credit responsibly, and save consistently for reinvestment. He emphasised that digital sales in Michoacán rose from 1.8% to 3.8% between 2018 and 2023, making digital tools essential for banking, cash‑flow control and building credit history. Local cooperative banks like Valladolid Caja Financiera can provide personalised support and credit to help formalise and grow these enterprises.