The world is full of ideal places to start or expand your own business but deciding which one is the best fit for you and the industry you’re in is one of the key factors that determine its chances of success. Depending on what industry you’re in, the geographical location of the country you choose is of utmost importance. Access to resources and opportunities for trade is dependent on location, and regarding those factors alone, Mexico is especially ideal for those wanting to start a production-based business.
Mexico is among the 15th largest economies in the world mostly due to its oil, agriculture, and machinery production industries. The country’s large market size and various free trade agreements allow businesses to broaden their customer base both in and outside of Mexico itself. For those in The United States looking to begin or expand their businesses into Mexico, their open corporate tax system, close geographical location, and mutual democratic principles can be very appealing.
The United States’ highly developed market economy makes it a great place to do business with. Over 80% of Mexico’s exports go straight to The United States, meaning that those businesses will be able to see a great profit in a relatively short time once their organization is up and running.
Their well-structured and professional business culture combined with their hard-working working class are major incentives to begin a business in the country as well. Over 50% of the population is fit for work, and with the average Mexican citizen clocking in nearly 2,150 hours each year, it’s easy to see how production and company success rates are so high.
Over the last few years, more and more companies have decided to relocate to start a business in Mexico. As more opportunities arise, it’s becoming an even more desirable location for most industries. If you’re interested in learning more about Mexico’s great opportunities for business startups, expansions, and overall success please consider reading our Destination Guide: Mexico below.