Mexico, a country with a constantly growing market, offers a series of opportunities for those looking for ways to start a business.

With an entrepreneurial culture that is constantly evolving, the keys are being established so that more people are encouraged to start a business.


How to start a business?

Before venturing into the world of entrepreneurship, it is important to know the following tips to start a successful business:


1. Identify the market niche

In a diverse and constantly growing market like the Mexican one, it is essential to find some of the original business ideas to undertake, as well as properly research the market.

You must consider the unmet needs in the area where the business will be developed to identify a market niche in which you can stand out.


2. Solid business plan

A business plan is essential to guiding a company to success. In this, the goals or objectives, strategies to be implemented, budgets and deadlines must be established for each type of activity or task that is specified in the plan.


3. Look for financing options for SMEs

Mexico has a variety of financing options for entrepreneurs, including government programs, investment funds, among others. The ideal is to find a financial scheme that best suits the business and its objectives.


4. Registration and legal compliance

When starting a business, it is essential to comply with all legal or tax regulations. To guarantee compliance with the different laws, it is necessary to register the company with the Ministry of Finance and Public Credit through the Tax Administration System (SAT).


5. Implement strategies

From knowing how to manage time at the beginning of the venture, to customer service and attention, it is essential that various strategies be established. For example, a sales strategy such as cross-selling and up-selling not only helps to sell more but more solutions are offered to the customer.

Likewise, marketing strategies are required to publicize the business and keep the brand present in the collective imagination. Some other important strategies are:

Business ideas with value and differentiation.
Constant innovation of products and services.
Proper financial management.
Evaluation towards continuous improvement.


6. Online presence

Online presence is vital in the current economy, where digitalization has permeated people’s purchasing preferences, since the “Online Sales 2022” Report from the Mexican Online Sales Association (AMVO) indicates that 39% of Mexicans They buy products and services online.

Therefore, it is important to have a professional website, using social networks and offering the opportunity to buy in a marketplace or creating an e-commerce platform to reach a wider audience.


Customized financing for SMEs

Pymes Capital understands how essential entrepreneurship is for the Mexican economy, therefore, it offers financing that adapts to the needs of companies, through financial advances that can enhance business growth.

Although some requirements must be met, such as demonstrating sales for at least 6 months, it is an ideal type of financing because it is easier and faster to obtain than traditional options such as a bank loan, and it is paid through a percentage of sales made at a point of sale (POS) terminal.

Find financing tailored to your venture and lead it to success with Pymes Capital.