Mastercard launches Strive Mexico, a way to complement its ongoing efforts to support small businesses around the world as they recover from the pandemic and adapt to a dynamic digital economy.
Strive Mexico, an initiative of Mastercard’s Center for Inclusive Growth, aims to help 400,000 micro and small businesses in the country over the next three years. The initiative will provide access to tools designed to help small businesses navigate through digital transformation, strengthen the country’s entrepreneurship support ecosystem, and provide targeted assistance to women entrepreneurs.
In Mexico, companies with 10 or fewer employees play an important role in the economy, representing 97% of all companies in the country and employing 72% of the workforce. In addition, according to the report published by Strive Mexico, “Roads to the resilience of Mypes”, one in three companies in Mexico is owned or operated by a woman, and although they are over-represented among microenterprises, they are, at same time, the least digitized.
Mastercard is committed to fostering women’s economic participation by providing them with digital and financial tools with the goal of closing the gender gap around digitizing small businesses, expanding their business opportunities and promoting financial independence.
Objectives of Strive Mexico:
- Provide tools and resources to help small businesses digitize their operations and transition to tech-forward work practices through one-on-one assistance and digital, business, and financial skills building.
- Develop peer mentoring strategies and hybrid coaching and mentoring approaches to help women entrepreneurs overcome barriers to digitalisation.
- Work with different stakeholders from the public, private and social sectors to build and strengthen the ecosystem of support for small businesses, with the aim of scaling promising solutions.
“At Mastercard, we recognize the importance of micro and small businesses for an inclusive and long-term recovery, and that requires a boost to help them prosper,” said Mauricio Schwartzmann, Country Manager of Mastercard Mexico. Programs like this lay the foundation for economic growth for women-led businesses, while strengthening the digital capabilities of small businesses in general.”
In partnership with BFA Global and Fundación Capital, Mastercard supports and promotes collaboration across the small business ecosystem, responding to the needs of business owners who have the commitment but lack the data and digital tools to succeed. .
“While many micro and small business owners are digitally savvy and use digital devices and social media as part of their daily lives, this does not necessarily translate to the business level,” said Juan Navarrete, Vice President of Partnership Development at Fundación Capital.
“Digital transformation is not simply a question of access to technology, but a gradual process that encompasses a variety of elements, such as information, trust and capacity building. Through Strive Mexico, Fundación Capital will help micro and small businesses on their digital journey by providing them with tools, mentorship and peer support to enable them to thrive and become productive and resilient players in Mexico’s economy.”
“The pandemic has shown us that micro and small businesses are resilient in coping with its impact, with two out of three making operational adjustments ranging from accepting digital payments to providing services,” said Amolo Ng. Weno, CEO of BFA Global. “However, much work remains to be done to bring these businesses to full capacity, further strengthen their resilience, and overcome ongoing challenges. BFA Global is thrilled to collaborate with Strive Mexico and bring the best of our hearts and minds to a better and more resilient future for Mexican small businesses.”
Strive Mexico builds on current efforts launched during the pandemic to support the digitization and financial resilience of small businesses in Mexico, with partners including Common Cents Lab, Fundación Capital, and the FAIR Center at Tecnológico de Monterrey.
Supporting small businesses to build inclusive economies
Launched in 2021 and led by Mastercard’s Center for Inclusive Growth, Strive is an innovative suite of global programs tailored to support recovery, growth and pandemic resilience among small businesses. Strive’s ongoing initiatives include Strive UK and Strive Community, as well as the recently launched Strive Czechia and Strive USA.
Editorial Team The editorial team of EMPRENDEDOR.com, which for more than 27 years has worked to promote entrepreneurship.