It might seem like Mexico’s popularity among small businesses is due to its convenient location. But doing business with Mexico can help your small business thrive. Tax deductions and NAFTA save you money, while low competition and an expanding middle class can greatly affect your bottom line when working in Latin America.
The Mexican government provides incentives to foreign investors, including several tax and administrative reliefs. Government programs offer fee-reduction and tax breaks for international businesses. On top of that, NAFTA relations between the US and Mexico have further eased trade, opening the door to businesses large and small.
While Mexico is currently the world’s thirteenth largest export economy, analysts predict a jump to 5th or 7th globally by 2050. If small businesses are looking for a place to start an international venture, Mexico is your safest and most cost-effective bet.