Family owned, small companies are local growth leaders with long life expectancy and need specific financial services and support.
Please read my blog on Portal FinDev: link
Abstract. – In Mexico, there exits a segment of micro entrepreneurs growing their businesses to be small companies. They are becoming growth leaders and generate relevant employment on the local level. Currently, they have only limited access to adequate financial services and need specific financial products to support their further development. Our research “Necessities and use of financial services in family owned, small firms in Mexico” shows, that there are small companies which based on their own efforts and income have grown out of the micro business segment and are bound to grow further in the future. These small companies have unique characteristics and their owners operate and take decisions in a specific way, different from those to be observed in micro businesses.
With our team at Solliv (www.solliv.com) we accompanied 20 of these small firms during a year, to observe their development, their financial life and financial decisions. The research was funded by MetLife Foundation Mexico. The results of the study were presented in Mexico in June 2019. The blog describes the characteristics of this segment of small companies, which are relevant to local economies and their specific needs and demand for financial services.
