56% of SMEs in Mexico trust they can keep doing business for the next six months, according to the global Small Business Report on Facebook.
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4 min read
This article was translated using AI technologies from our Spanish edition. Errors can occur as a result of this process.
As part of its efforts to support SMEs, Facebook unveiled the latest part of its global report on the state of small businesses, a survey of 35,000 SMEs around the world conducted in February 2021 to learn how the restrictions on fighting the pandemic affect theirs Doing business will affect their income, their workforce, and even their medium-term plans.
Facebook is committed to helping SMEs recover their economy by providing relevant and actionable information to businesses, organizations, government agencies and the public to find solutions that will help this important industry. This is in addition to the free tools and training that Facebook offers SMEs to support their digital transformation.
The 2021 edition of this report examines the ongoing impact of the COVID-19 pandemic on SMEs. In this context, Facebook research aims to provide insights and information that enable meaningful support for this important sector.
Among the key findings of the Global Small Business Condition Report, it was found that 76% of SMEs globally were engaged in or participating in income generating activities as of February 2021, compared to 75% registered in Mexico. While in October 2020, according to the last rate of last year, the percentage reported in our country was 86%.
In February 2021, 27% of SMEs worldwide reduced their workforce, compared with 38% in Mexico. Percentage that was higher at 42% in 2020.
In addition, 55% of the companies surveyed worldwide reported a decrease in sales compared to the same month last year. In Mexico, the impact was less than 48%, but it was significant. In October 2020, 64% of Mexican SMEs reported this decrease compared to their sales in October 2019.
On the other hand, 51% of SMEs worldwide and 56% in Mexico said they had confidence in their ability to continue working for at least six months in persistent current circumstances.
Regarding future challenges, both globally and in Mexico, 19% of SMEs surveyed in February 2021 (33% in October 2020 in our country) expected challenges related to cash flow, while 24% expected challenges related to demand or Foresee lack of customers.
Entrepreneurship and Women
Regarding the statistics showing the disproportionate impact of women-run Mexican SMEs compared to men, it found that:
73% of SMEs owned by women are in operation, compared with 76% by men-led (84% versus 88% in October 2020). 52% of SMEs owned by women reported lower sales in February 2021 than in the same month of 2020 (before the COVID-). 19 pandemic), compared to 48% of male-run SMEs.
As the pandemic enters a new phase with the reduction in restrictive measures, it is important to understand what the main challenges are for SMEs on the path to economic recovery.
The full global report can be viewed here.