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1 Dec 2014

FEMSA reaffirms social entrepreneurship as a vehicle to benefit communities

  • Every year 350,000 to 400,000 SMEs are created in Mexico, but only 10% survive after 5 years
  • The company reasserted its commitment towards the creation of financial and social value during its participation at GSBS in order to build an equitable, environmentally sound and resilient economy and society.
  • FEMSA creates over 10,000 new jobs every year and has a staff of more than 240,000 employees, 170,000 of whom reside in Mexico

Mexico City, November 27, 2014. - As part of the Global Social Business Summit 2014 – the most important international forum on Social Businesses – FEMSA is looking to promote the growth of the entrepreneurial ecosystem by reasserting its commitment to support 520 entrepreneurs in 3 years by encouraging young men and women, who in turn will start creating jobs and improving innovation sources. 

Currently, there are not any integration institutions in Mexico where entrepreneurs can solve their needs in a comprehensive manner. They go from institution to institution and contest to contest without gaining the required added value. According to the National Confederation of Industry Chambers, every year approximately 350,000 and 400,000 SMEs (small and medium enterprises) are created, but half of them fail by the end of their first year and only 10% survive after 5 years. 

Considering this landscape, FEMSA – during its participation at GSBS 2014 – emphasized the need for creating financial and social value in order to create a fair economy, ecologically rational, flexible and that provides benefits for society. On this topic, FEMSA has contributed to the growth of the social entrepreneurial ecosystem by applying three axes: the social impact on the communities where it operates; betting on social entrepreneurship so that it becomes a platform for the creation of new companies that solve the real needs of the communities; and the collaboration among diverse sectors such as government, civil society, and industry. 

“Social Entrepreneurship is an initiative that FEMSA has supported strongly, looking to promote projects not only in Mexico but in every country where we are present. Its inclusion in our business model and as an essential part of our sustainability axis, confirms the importance of this topic in our vision. We wish to highlight our participation at GSBS today, where we collaborate and interact with the government, civil society, and of course, the private sector; looking to unite efforts in order to produce opportunities that translate in a greater number of social businesses,” said Carlos Salazar, CEO of FEMSA.

“For FEMSA, the participation and collaboration attained in international forums such as GSBS, is very important. In these forums, we can build joint solutions through social entrepreneurship. We wish to generate new alliances to help us underpin the impact of our programs on an international level as well as strengthen the entrepreneurial ecosystem in Mexico together with diverse multi-sector organizations in order to develop projects that encourage the development of social businesses,” said Carolina Alvear, Director of Sustainability at FEMSA.

The goal of the GSBS was to promote knowledge, discussion, and collaboration in reference to new social businesses. This stage also helped entrepreneurs from FEMSA’s Entrepreneurs Support Platform to present their ideas; such was the case of Circula Vida, Sporah, Kiwi, Maka, Fopala, and Cricket Food. These ventures had the chance to show their ideas in the forum through networking and activities such as SenseCamp and Connected Creativity, where they exchanged their experiences with other business ventures. 

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About FEMSA

FEMSA is a leading company that participates in the beverage industry through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world; and in the beer industry, through its ownership of the second largest equity stake in Heineken, one of the world`s leading brewers with operations in over 70 countries. In the retail industry it participates with FEMSA Comercio, operating various small-format chain stores, including OXXO, the largest and fastest-growing chain of stores in Latin America. All of which is supported by a Strategic Business unit.

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