Many business owners are interested in moving their business production plants to Mexico. It is considered as one of the top 10 countries to manufacture. You will be able to find a lot of manufacturers in this country, ranging from the electronic producer, automotive and aerospace manufacturer among many other industries. Most companies come to this country because they are interested in all resources and competitive environments offered by Mexico. Here are some advantages that Mexico can offer to all business owners from all around the world.
a. Affordable labors
When you move your business to Mexico, you are going to get this advantage. This country offers highly skilled and dependable labors for all business owners. The cost of labor in this country is 70 – 80 percent cheaper than the labor cost in the United States. The hourly wages for employees in Mexico are ranging from $2.4 (unskilled direct labor) to $15 (quality control engineer). As a business owner, you can save a lot of your money by moving your business to Mexico. You can reduce your labor cost by up to 50%.
b. Strong workforce demographic
This is another reason why Mexico can be a perfect solution for all business owners now. The demographic of Mexico’s workforce and also the community can make any manufacturing operations competitive in the future. The median age of Mexico’s population is about 26 years old, compared to the 37 years old for the United States. The total labor force in this country reaches up to 47 million people. Currently, more than 100,000 engineers graduate from their colleges and universities. Many companies can recruit the best employees in Mexico easily by considering this strong workforce demographic.
c. Easy entry access
Mexico opens its location for all investors and business owners from all around the world to enter this country. The procedure for expanding to this country is not as difficult as the procedure for entering the other countries. Mexico also has a strategic location which is located between the United States and Latin America. This location can create a favorable business climate for all business owners from all around the world. Launching a new business operation in this country is unbelievably simple and easy to do. Mexico also has a similar language and culture with the other surrounding countries, such as the United States, Latin America, etc.
d. Mexico’s Free Trade Agreements
Mexico also has some Free Trade Agreements (FTAs) with other countries in the world. This country is partnered with more than 50 countries in global agreements. These agreements are very useful to reduce trade barriers. Mexico has access to more than 60% of the gross domestic product in the world. You can export any products to any countries in South America, Europe, Africa, etc. It can open a lot of opportunities for you who want to become successful in promoting your products manufactured in Mexico. Mexico can be a perfect place for transmitting any goods or services worldwide.
e. Get benefits from the existing industry clusters in Mexico
Before you move your company to Mexico, you need to know about this benefit. Mexico is located in the high-demand market area. You will be able to get access to some existing industry clusters that are available in this country. There are some popular industry clusters in this country, for example, the automotive industry, aerospace industry, computer production area, and many other clusters. All of these clusters can help you get access to the robust supply chain networks and also established infrastructure in Mexico. You will be able to find a lot of supplies, products, or accessories for your manufacturing process easily. It means that you will be able to produce and manufacture any products quickly.
There are many other benefits that you will get from Mexico. It can be a perfect country for you who want to expand your business very quickly. The government of Mexico also supports any investors from both locally or globally. Once you are ready to invest your money for expanding your business operation in Mexico, you can talk to some professional experts in this country. They can give you some ideas on how you can start moving your business to this country.