Empowering MSMEs and Teaching Financial Literacy from Childhood: Two Keys to Transforming Mexico’s Economic and Social Future
- Tenet Consultores
- 13 mayo, 2025
- Financial ecosystem
During the Mexican 88th Banking Convention, held in Nuevo Vallarta, Nayarit, a long-suspected truth within the financial ecosystem became increasingly evident, though it has yet to fully translate into structural action: if Mexico wants to grow in a sustainable and inclusive way, it cannot overlook two fundamental pillars of its development—micro, small, and medium-sized enterprises (MSMEs), and financial education from an early age.
These two fronts, while seemingly distinct, share the same goal: enabling more people to access better economic opportunities. These ideas have been repeated throughout the convention’s events, although reality shows we are still far from fully applying them.
MSMEs: The backbone of the economy, still lacking sufficient support
In Mexico, over 99% of businesses are MSMEs. They are responsible for a significant share of formal employment and economic dynamism in regions where large industries are absent. However, they are also the most fragile. The high failure rate of these businesses is concerning—an estimated 80% do not survive beyond their first two years of operation. Why?
There are many causes: lack of access to credit, limited business education, low digitalization, informality, complex bureaucracy, and a market that often fails to provide favorable conditions for growth. During the Banking Convention, Altagracia Gómez —coordinator of the Business Advisory Council for the Government of Mexico—was blunt in stating that coordinated efforts are needed among the government, the financial system, and large companies to reverse this situation.
One of the main obstacles MSMEs face is informality. Operating outside the legal framework prevents them from accessing financing, hiring staff with social security, or integrating into larger value chains. The solution, according to the Plan México proposed by the government, involves digitizing processes, simplifying procedures, and offering real incentives to formalize. And this isn’t just the government’s responsibility: banks must also develop products tailored to this reality and understand that formalization is not just about meeting tax obligations, but about providing access to rights and opportunities.
Financial education from childhood: sowing the seeds of social mobility
A second essential—and until recently, less discussed—pillar is financial inclusion from childhood. Why start so early? Because the evidence is clear: children raised in households where finances are discussed, even in simple terms, develop a stronger awareness of the value of money and make better economic decisions as adults.
At the forum “Financial Inclusion and Its Effect on Social Mobility,” Condusef president Óscar Rosado shared revealing data: children in financially inclusive households have a significantly higher chance of upward social mobility. This is not just about having a bank account, but about understanding basic concepts such as saving, credit, responsible consumption, and financial planning.
From the Espinosa Yglesias Research Center (CEEY), its president, Julio Serrano, proposed integrating financial education into classrooms as a mandatory subject in both public and private schools. An ambitious proposal, yes, but also a necessary one. Access to financial tools should not depend on family background or socioeconomic status. Democratizing that knowledge can make a real difference in a society where, according to CEEY data, only 49% of adults have real access to financial services, and almost all financially excluded adults come from households that were also excluded.
Beyond theory: turning ideas into public policy
Strengthening MSMEs and promoting financial inclusion from childhood require more than good intentions. They demand funding, political will, and sustained strategies over time. They also call for moving beyond a “one-size-fits-all” approach and implementing policies tailored to Mexico’s diverse realities and sector needs: a microbusiness in Mexico City is not the same as a craft workshop in a rural community; nor is it the same to teach finance to children in urban settings as in communities with different languages or customs.
Moreover, it’s crucial that the financial system—especially full-service banking institutions—take a more active role in developing tools to promote formalization and early access to financial services. Not out of altruism, but because, as Hugo Nájera (BBVA) rightly pointed out, a more educated and financially active society also represents a more solid and sustainable business opportunity for the financial sector itself.
We are facing a historic opportunity to redesign the foundations of social development—from how we support those who create jobs to how we prepare new generations to understand the value of money and make independent decisions.
The financial ecosystem must ensure that the proposals made at the Banking Convention don’t remain just timely speeches but truly yield results, helping to build bridges across sectors, regions, and generations. If we aim for a fairer, more competitive, and more resilient Mexico, we must begin by strengthening its entrepreneurs… and planting the seeds of financial knowledge in children.
Tenet Consultores advises financial entities that contribute to the country’s development through financial inclusion and technological innovation. If you need consulting services, contact Tenet Consultores at tenet.com.mx or by phone at +52 1 55 3483 6715.