Mexican businessmen are identifying growth opportunities and 89% expect this to be reflected in sales growth this yearindicated a survey from the IPADE Business School of the Pan-American University on Friday.
The survey, entitled “Business Expectations 2023”, was carried out among 3,200 university graduates, including 1,335 CEOs, 586 shareholders, 681 functional directors and 301 presidents of boards of directors.
The study also reflected the expectations of businessmen from Jalisco and Nuevo León, two of the economic poles of the country: in the western state 89% expect to grow during the year, almost the same as 90 of the entrepreneurs in Nuevo León.
Antonio Casanueva, Professor of Marketing and Director of IPADE in Guadalajara, highlighted that “the business sector is a generator of wealth” and that, therefore, it is positive that businessmen expect “a better year than the one they had in 2022”.
According to the poll, Mexican companies in general expect to grow in 2023 despite economic and political uncertainty, high inflation and international factors that could affect the performance of some productive sectors.
49% of companies anticipate growth of up to 10%, and 36% expect to do so between 10% and 50%. Regarding the increase in their profits or benefits, 52% expect them to increase up to 10%.
“In addition, the level of optimism (of those surveyed) is higher in their own companies than in the countrywith a score of 8.03 points and 6.15 points, respectively, on a scale of 10,” the university said in a statement.
The main opportunity perceived by the entrepreneurs surveyed is the relocation of value chains (“nearshoring”), with 45%, followed by digitization, with 26%.
Besides, Among the concerns, high inflation (33%), insecurity (29%) and uncertainty (25%) stood out..
“As is naturally expected with the ‘nearshoring’ phenomenon, 92% of companies in the logistics services sector expect to grow in 2023,” said IPADE Decision Analysis professor Alberto Ibarra.
Rodrigo de León, professor of Political and Social Environment at the same center, considered that the investment that the federal government is making in the southeast of the country has caused businessmen to see new business opportunities.
“The important thing about the study is to see that the business community is beginning to notice those factors that are related to the international environment and is seeing opportunities in the national environment; the optimism that the business community is beginning to see will probably be corroborated during 2023,” he added.
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