President Enrique Peña Nieto inaugurated National Entrepreneurs’ Week, during which he urged young entrepreneurs to persevere and not give up, and to strive to achieve their projects.

The government wishes to be a great facilitator, and channel and provide spaces for the achievement of the efforts of our young people, who have creativity, talent, and a desire to succeed”:

The president mentioned three central aspects for those wishing to undertake a project:

First: The idea; the vision of those who think of a solution.

“Conceive an idea, be clear about what you want to accomplish, what you want to do, and what you want to materialize”. EPN

Second: Effort; that is, the desire, the energy they are willing to invest in a project.

“Persevere and strive to achieve this project”. EPN

Third: Opportunity. This means that the entrepreneur has sufficient support to develop his idea, which is the government’s responsibility. That is why INADEM was created at the beginning of this Administration:

“To accompany you, not to abandon you, not to leave you alone, to guide you, to advise you and to let you know about the various supports available in the government, which people are sometimes unaware of, which can support projects you are working on”. EPN

Actions to support entrepreneurs

  • Today it is possible to create a company through the Internet, for free and in just 24 hours.
  • The National Institute of Entrepreneurship and the Entrepreneurs’ Support Network were created to offer advice and training.
  • So far during this administration, INADEM has allocated more than 27.5 billion pesos to supporting more than 1.6 million entrepreneurs, and promote730,000 MSMEs.
  • The network has served more than one million entrepreneurs and 413,000 MSMEs.
  • Youth Credit was launched to provide initial financing. From February 2015 to September 2016, 560 million pesos were allocated to support more than 1,700 young entrepreneurs.
  • Financing for people up to the age of 70, through the Entrepreneurs to Commercial Banking Program.
  • Tax benefits: when entrepreneurs join the formal sector, the first year they are exempt from income tax; the second year, they will only pay 10%; the third only 20%; and so on, year after year, until they pay 100% income tax.
  • During National Entrepreneurs’ Week, an electronic platform will be launched, which will make it possible to constitute Simplified Stock Companies.

This National Entrepreneurs’ Week is designed to ensure, “That many young people can go to INADEM and find out about the various platforms available to support the country’s entrepreneurs”.

The success of this event is reflected in the number of attendees, which has been growing. Last year, 120,000 young people attended, and this year, 180,000 are expected to participate in addition to thousands of others who will follow the event online.

“I would like to share this reflection with you: Do not give up, persevere with your attempts. If you ever make a mistake, it is just a lesson to spur you on and encourage what you propose to continue achieving in your personal lives and the professional and entrepreneurial projects you are undertaking”.

Failure and mistakes are sometimes part of life’s lessons; they are part of what is required to consolidate a project successfully. And I think this is what we should learn from this task and in this effort to support entrepreneurship in our country”. EPN