| | |  Business News | March 2009 
Federal Government, together with Economy Secretariat, to Launch Mexico Business Program
 Presidencia de la República
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| | President announces Mexico Business Program to train and advise the country's small businessmen. | |
In order to facilitate the development of the country’s micro, small and medium firms (PYMES) during this international economic juncture, President Felipe Calderón implemented the Mexico Business Program to provide business training and advice.
"We are throwing our support behind PyMES because they are the heart of our economy," declared the President, adding that they produce over half the Gross Domestic Product and are responsible for creating nearly three quarters of jobs in Mexico.
In the Adolfo López Mateos Hall at the Official Residence, the President declared that through this program, Federal Government will be meeting one of the commitments assumed in the Agreement to Protect Families' Economies and Jobs.
"We have set the goal of providing a record amount of $250 billion pesos in credit over the next four years for the country’s micro, small and medium businesses," explained the President.
He announced that so far this year, PyMES credits of over $5.4 billion pesos have been granted, an increase of over 15% over the same period last year.
Accompanied by Secretaries of the Economy, Gerardo Ruiz Mateos and Public Education, Josefina Vázquez Moto and addressing representatives of business chambers and banks, President Calderón said that unlike in other crises, Mexico has strengths that have enabled it to offset the effects of the current economic situation.
"This has meant, at the same time, that although there has a sharp contraction in the rest of the world, including the United States, not only of economic activity, but mainly of credit, in Mexico, credit for the productive sector and Mexican firms has continued to increase, which is crucial, he declared.
The President explained that Federal Government, through Mexico Business, shares the risk and contributes part of the guarantee to enable PyMES to access credit: "So Federal Government’s position is quite clear: we are going to bet on PyMES, we are going to bet on Mexico’s micro, small and medium businesses. And betting on PyMES means sharing the credit risks of our business people so that they will not have to virtually mortgage their property to see if they can get credit that way."
President Calderón explained that in addition to Mexico Business, there will also be a Mexico Business Platform, which can be contacted in the traditional way at the Economy Secretariat’s Offices or on the Internet at www.mexicoemprende.org.mx or through a toll-free number or the Secretariats of Economic Development in the states.
During the initial stage, financial consultants will be available to Pymes to help them sort out their accounting and develop their financial strategies. |
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