Mexican Female Entrepreneurs are Looking for New Opportunities

In Mexico, companies are focusing on addressing gender gaps in entrepreneurship and financial inclusion, with many companies deploying initiatives to close those gaps. Meanwhile, companies explain how salary-on-demand is changing consumption patterns and how to foment investment and financial inclusion. 

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Changing Entrepreneurship Gender Gaps in Mexico

The Organization for Economic Co-operation and Development (OECD) states that 44 percent of entrepreneurs in Mexico are women, with 99 percent of their projects being micro enterprises, 0.95 percent small businesses and 0.05 percent being medium-sized businesses. 

Maria Ariza, CEO, BIVA MX, explained that eliminating the gender wage gap is vital to encourage entrepreneurship in Mexico. Ariza also highlighted that in the formal corporate world, few women are in higher ranks and fixing this problem is "the responsibility of decision-makers within companies." 

Income Liquidity Resolves Consumption for Customers

Oliver Babini, Founder and CEO, Dey, explained that the availability of salary-on-demand modified consumer behavior among its target market. Dey’s customers have used the app more regularly than the company originally expected. 

“Prior to the market launch of Dey we anticipated that the average user would defer to our financial services an average of seven times per month. To our surprise the average user is using our platform about twenty times a month, indicating that their consumption behavior has become more distributed. This is having a ripple effect on local economies that could help expedite Mexico’s economic recovery,” Babini told Mexico Business News. 

RUUT Seeks to Facilitate Investments in Mexico

Rodrigo Verduzco, Co-Founder, RUUT, explained that the investment platform will provide an accessible user-friendly solution for people that seek to invest. Verduzco also explained that it is “unrealistic” to think that newcomers will be successful when choosing investment strategies without any financial education.

“We are building an investment platform for non-investors because we know that less than 2 percent of people in Mexico have an investment account. The country has strong digital penetration in services like banking or debit where about 55-60 percent of its population already use digital banking, but this is not translating into investments. We have created an accessible platform in which most people can feel comfortable investing,” said Verduzco. 

TikTok to Overtake Google as Search Engine

Karen Herrera, PR and Editorial Manager, Kueski, explained that users prefer to watch 30 second content videos instead of reading lengthy blogs. Herrera said that TikTok’s parent company, Bytedance, bragged of 1 billion active users on its platform. 

It is no secret that TikTok revolutionized the way users interact, consume and create content, which led it to take a primary and necessary place in the marketing strategies of companies. But what few saw coming is that this app generates an authentic audiovisual immersion and would become a pedagogical or search tool, managing to compete with the giant Google.