As a business owner, you should know that there will always be things to improve in order to keep growing and increasing profits. Manufacturing companies are the same; maintaining them is not easy, considering the competitive global scenario, but with constant work you should be fine. Nevertheless, if you have decided your company needs a change for good, and you’re thinking of starting business in Mexico, there are a few things you need to know beforehand.
Setting Up a Company in Mexico
There is no need to worry: Mexico is a smart option to start a business. What we want to suggest you, nonetheless, is to have all the necessary information regarding your company and the place you are choosing as your destiny.
To help you make a wise decision, here are 5 things you need to know before you set up a business in Mexico:
Your company should enjoy the advantages of a perfect location, a place that promotes on-time deliveries, shorter distances and connection to the world as contract manufacturing solutions. Nearshoring is becoming an essential condition for companies: all the benefits that arise from being closer lead to savings and an efficient supply chain.
Mexico is among the first 25 export economies, with Tijuana as the city with the lowest total cost. This is due to the competitive costs of the Mexican workforce. Manufacturing in China (and other Asian countries) represents the same expenses, but the difference is the quality of the processes and the products, which translates into better finished goods and, hence, a better relationship with your clients.
If the city or country you decide to choose promises savings in labor costs, it will be of no use if the infrastructure of the place leaves a lot to be desired. Industrial parks, highways and basic services are imperative; otherwise, your expenses will increase and the flow of your company will be forced to slow down.
Perhaps you’ve heard it before: Mexico is known for its globally admired workforce. The talent and skills that people provide are the key to high-quality products and efficient manufacturing. Also, the local universities prepare the youth to study careers in Engineering, International Business, Technology, Administration and more.
- Government relationship
Companies should have a close relationship with the government, or at least a link that helps them be in contact with each other and know the incentives that industries can achieve. As experts in the manufacturing field, we’ve found that the city of Tijuana, Mexico, has all the requisites industries look for when searching for a place to grow.
If your interest in Mexico has grown, let Tijuana EDC guide you. We provide free-of-charge services such as business advisory, site selection, strategic alliances and everything you need to set up your company in the city of Tijuana, Mexico. Contact us to provide the information you need and help you make a wise decision.