Mexico is expensive to open a business – La Prensa de Monclova

Mexico City. Mexico is among the countries with the highest costs of opening a business because of the type of actions to be implemented, a comparison of business financing made from data from Doing Business revealed.

According to the analysis, an investment of $1,463 is required to start a business in the country, which is a higher cost than that of its business partners, which is $166 in Canada and $725 in the United States.

Although there are countries on the American continent that are more expensive than Mexico, their trade activity is less in terms of quantity.

It is about Suriname, at $3,330; Ecuador 1,629 and Bolivia 1,293 dollars. In contrast, the cost is the cheapest in Chile, at $16.3, according to Business Financing, a website dedicated to companies, in Great Britain.

Mexico faces challenges to open and run businesses, due to the time it takes us to comply with all obligations.

“When you know the paperwork, there are factors like discretion in government offices, complex procedures, late response times, and procedures have to be submitted in person in government offices,” said Juan Jose Cabrera, vice president of the National Competitiveness and Regulation Authority. Coparmix Improvement Committee.

The analysis also compares the percentage of these costs to the average monthly income in each country.

Thus, the cost of opening a business in Mexico makes up 236 percent of the average monthly income. In Canada 5% and in the United States 16.

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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