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27 Nov 2014

FEMSA reaffirms social entrepreneurship as a vehicle to benefit communities

  • Every year, between 350,000 and 400,000 SMEs are created in Mexico but only 10% survive after 5 years
  • During its participation at GSBS, FEMSA reaffirmed its commitment to contributing to the generation of an equitative, sustainable, and resilient economy benefitting the communities.
  • FEMSA generates over 10,000 new jobs every year; it has more than 240,000 employees, 170,000 of these reside in Mexico

Mexico City. November 27, 2014.- During the Global Social Business Summit 2014 - the most important international forum in regards to Social Businesses, - FEMSA looks to promote the growth and boom of the entrepreneurial ecosystem, reaffirming its commitment to supporting 520 entrepreneurs in just 3 years with the support to new entrepreneurs who will start creating employment and better innovation sources.

Currently, there aren't any integration institutions in Mexico where entrepreneurs can solve their needs in a comprehensive manner; they tend to wander between institutions and contests without obtaining the added value they require. According to the national Confederation of Industry Chambers, each year between 350,000 and 400,000 SMEs (small and medium enterprises) are created but half of them will fail by the end of their first year and only 10% will survive after 5 years.

Considering this scenario, FEMSA stressed - during its presentation at the GSBS 2014 - the need to create financial and social value in order to build an equitative economy that is ecologically rational, flexible, and that benefits society. On this issue, FEMSA has contributed to the growth of the social entrepreneurship ecosystem with the application of three axes: social impact on the communities where it operates; betting on social entrepreneurship so that it becomes a platform for the creation of new enterprises that solve real needs of the communities; and by fostering the collaboration between the different sectors, such as government, entrepreneurs, and civil society.

“Social entrepreneurship is an initiative that FEMSA has strongly promoted, looking to drive 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 issue in our vision. We wish to highlight our participation and commitment at GSBS today, where we collaborate and interact with other sectors such as the government, the civil society, and of course, the private sector looking to join efforts to generate opportunities that translate into a greater number of social businesses,” said Carlos Salazar, FEMSA's CEO.

“For FEMSA, the participation and collaboration attained in international forums such as GSBS is important; here, we can build joint solutions through social entrepreneurship. FEMSA wants to create new alliances that help us underpin the impact of our programs on an international level while strengthening the entrepreneurial ecosystem in Mexico working with diverse multi-sectoral organizations to develop projects that foster 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 regards to new social businesses. The 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, which had the chance to show their ideas in the forum in an atmosphere of networking and multiple activities such as a SenseCamp and a space for Connected Creativity, where they shared their experience with other entrepreneurs.

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About FEMSA

FEMSA is a leading company that participates in the beverage industry with Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world, and in the beer industry with 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, which operates various small-format chains, including OXXO, the largest and fastest growing store chain in Latin America. Our Strategic Businesses Unit supports all these operations.

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