If you want to start a small business in Mexico, here are 10 top profitable small business ideas you can launch with small investments:
Mexico is so far the only known nation that has immensely improved across political, economic and manufacturing areas after being hardly hit by 2009 recession. It is also one of those topmost countries that succeeded in keeping the inflation to the lowest rate possible and has further brought it down from 4.55% in April 2018 to 4.51% in May 2018.
What makes Mexico a better country for business owes to its policies of keeping low tax rates, availability of highly skilled manpower, low living costs and of course the strong national market demand. Check out these top 10 small business opportunities to help you start a business in Mexico:
1. Farming business
The Mexican based tomato, bell pepper, coffee and avocado produce have always been highly demanded both in national and international markets. When there is already a strong demand nationally and internationally plus the perfect agro-climate cultivation conditions being offered and the requirement of very low input costs, then it is beyond our understanding what better you will look for other than cashing in these agriculture-related niches in Mexico.
2. Automotive business
The automotive industry has become one of the main revenue contributors to the economy of Mexico, providing employment to a large number of skilled and unskilled Mexicans. Many American based automotive companies operate assembly lines in Mexico since the production of vehicles in the country proves cost efficient. Greater the number of automobile manufacturing companies means there is a great room for ample automotive related business opportunities for Mexican entrepreneurs.
3. Egg supply business
The individual consumption rate of meat is very low in Mexico. However, eggs, in contrast, are consumed highly but supplied lowly, hence, making an egg supply another great small business opportunity in Mexico.
4. Renewable energy business
Mexico over years has faced a decline in its oil production and continues to face so, resulting in the shortage of electricity production in the country. Entrepreneurs, in order to help the country get out of the power trouble, can harness renewable energy sources such as solar energy, hydro power, and geothermal energy.
5. Fertilizer production business
More a population of a particular geographical area is engaged in farming, more the demand for fertilizers and it is an open truth that Mexican economy heavily relies upon the agriculture sector and fertilizer imports. It is time for Mexican entrepreneurs to make the production of fertilizers indigenous to help the country gradually disengage from the activity of importing and become an exporter.
6. Pesticide production
Similarly, pesticides are also imported in huge quantities by Mexico, hence the need for going into the local pesticide production as well. The initiative won’t only generate employment opportunities for the local workforce but also will help in fulfilling the national market demand that stands worth millions of dollars.
7. Healthcare business
Healthcare related businesses right from the fitness centers to street clinics to drug stores have also a great prospect in a country like Mexico where diabetes, obesity, and other health issues are the major challenges.
8. Infrastructure development
The poor condition of infrastructure is yet another biggest challenge that needs to address in Mexico. Entrepreneurs have great potential to make fortune while helping in the up gradation of country’s infrastructure.
9. Telecom opportunities
Telecommunication industry isn’t even developed to an extent that allows Mexican people, especially those who live in isolated towns, enjoy frustration-free services. Telecom services need to be extended to hilly regions, hence an opportunity for Mexican entrepreneurs.
10. Retail business
The retail sector has experienced immense growth in Mexico over past several years as a result of increased buying power of families belonging to the middle class. Not only do these families have enough purchasing power in basic necessities but also have displayed strong spending on electronic products, clothes, home appliance etc. Therefore, a retail business in these consumer products may also prove rewarding for entrepreneurs in Mexico.