A recent article in the Financial Times reports that Mexico is “witnessing an entrepreneurial fever at all levels of society, government, industry and academia. Is there an entrepreneurial boom in Mexico?
The newspaper goes on to say that “Mexico is particularly ripe for this change. The country is macroeconomically stable and enjoys a good relationship with most nations in the world. It is second highest among 140 countries in the Happy Planet Index, a measure of human wellbeing and environmental impact devised by the U.K. think-tank New Economics Foundation. This, coupled with its hospitality, world-renowned food and natural beauty, makes Mexico an attractive destination for tourists and immigrants from around the globe.”
According to the Financial Times, the Mexican government is injecting federal, state and local dollars into entrepreneurship and technology development grants, loans and even direct investment into start-up and venture capital funds, which are creating a new entrepreneurial culture.
This new wave of entrepreneurship is led primarily by the 18-to-34-year-old Millenial generation and entrepreneurs in their late 30s to early 50s. But it’s not just younger Mexicans who are driving the country’s new entrepreneurial boom.
Expats in Mexico have a long history of entrepreneurship, starting a wide variety of new businesses from real estate to retail to new businesses like house sitting. Take Kathleen and Todd Atkins, for example. They’re featured this month in our Expat Entrepreneurs in Mexico series.
The couple vacationed in Puerto Vallarta just last year and loved it so much they decided to buy two businesses. Armed with plenty of retail and franchise experience in the U.S., Kathleen and Todd, both 53, purchased the popular Xocodiva artisan chocolate shop and LIx, arguably the best ice cream shop in Puerto Vallarta.
You can read all about how they became entrepreneurs in Mexico in our new article “Expat Entrepreneurs in Mexico: The Tempting Tastes of Puerto Vallarta.” You can also see the edited video interview with Kathleen and Todd on our YouTube channel and access it from our home page within the next few days.
If you are entrepreneurially inclined, you may also want to read our article “How to Start Your Own Business in Mexico” and join the thousands of expats who are very happy being their own boss.