Mexico: 33.5% of companies consider sales as their most pressing problem

One in three Mexican companies, 33.5%, considers sales as their “most pressing problem”revealed this Thursday the report of ‘Quarterly evolution of business financing’ from July to September Bank of Mexico (Banxico).

Meanwhile, 14.3% of the companies consulted by the central bank pointed to competition as their biggest problem, followed by 7.6% that stated the availability of labor and 7.6% to insecurity.

Finally, 7% indicated the regulatory and tax framework, and 4.6% the production costs.

“The companies surveyed highlighted that the most pressing issues affecting their economic environment during the third quarter of 2023 were related to the sales, competition and availability of labor Banxico summarized in its report.

Furthermore, more than half of the companies, 51.8%, recognized the interest rates of the credit market as a limitation to accessing new bank loans.

Added to this are the general economic situation (48.9%), the conditions of access to bank credit (45%), the amounts required as collateral (44.8%), access to public support (42.5%), the sales and profitability of the company (42.3%, and the capitalization of the company (39%).

They also stated the willingness of banks to grant credit (38.1%), the difficulties in paying the current bank debt service (30.5%) and the credit history of their company (29.2%).

“With regard to the indebtedness of companies with banks, 36.3% of companies indicated that they had bank loans at the beginning of the third quarter of 2023. 15.2% of companies used new bank loans in the reference quarter,” indicated the Banxico.

The difficulties in sales are reported despite the economic behavior of Mexico, whose gross domestic product (GDP) It grew by 0.9% quarterly and 3.3% year-on-year in the third quarter of 2023, accumulating an increase of 3.5% so far this year, according to the timely estimate of the National Institute of Statistics.