BBVA and Microsoft joined for helping SMEs in Mexico

A digital program for Mexican SMEs was announced by BBVA and Microsoft.

Small and medium enterprises (also known as SMEs) are the main engine of the Mexican economy, but they have also been one of the sectors that have suffered the most from the economic impact of the pandemic. Concerned by that, Microsoft and Bank BBVA Mexico announced a collaboration agreement, as part of the Digital SMEs (PyMES Digitales) program.

The program, announced by a joint statement, is aimed at boosting the resilience and growth of small and medium businesses in Mexico, now offering a new muscle of financing for the acquisition of technology with the support of said banking institution.

In this way, organizations and entrepreneurs can leverage the development and optimization of their operational processes through digitization solutions, regardless of whether they are hardware, software, or cloud service platforms. This initiative aims to help the more than 5 million small and medium-sized companies in the country to take the decisive leap in their digital transformation process, a transition that was critically accentuated during the pandemic, to the extent that 83% of businesses of this type considers that the adoption of new technologies is important for the future of his company.

Digital SMEs in Mexico

Microsoft deployed the Digital SMEs program to achieve its goal, as part of the Innovar for México investment plan. This program is made up of five components to accompany organizations while navigating this digitization process, offering key tools that range from self-diagnosis and training to advise for digital ventures, where financing plays a fundamental role in this strategy.

Precisely, as part of the financing dynamics, BBVA Mexico joins as an ally of Microsoft to trigger the recovery of the small and medium business segment in Mexico, offering a capital injection that can be decisive in the face of the economic impact of COVID-19, since 79.2% of the companies suffered decreases in their income in the last months and 20.81% of the micro, small and medium businesses were forced to permanently close their operations.

Hugo Nájera Alva, general director of Customer Solutions at BBVA Mexico, indicated that currently of the 600 thousand SMEs that the banking institution serves, 70% are micro-businesses and that especially in this segment is a great opportunity.

In response to this need for monetary support for the recovery of Mexican companies, Microsoft and BBVA Mexico will provide access to different financial products that promote the reopening, reactivation, and growth of local companies, including business credit cards or simple lines of credit. through the banking institution.

How to Apply?

Organizations interested in being part of Microsoft’s Digital SMEs program will go through a series of phases that will allow them to structure a digital transformation plan tailored to their needs. The beginning is with a diagnostic process that will evaluate the technological maturity of the business and the steps to follow to make it more efficient through digital solutions, after this step, the

Companies have access to training and consulting tools, as well as a catalog of products, solutions, and technological tools that they can adopt within their operation to be more efficient and competitive, being precisely at this stage where the financing work makes sense, providing the capital necessary to make this technological migration a reality.

In this way, the financing options ( of BBVA México are aimed at leveraging three recovery fronts for companies in the country:

  • Operating capital: Strengthen the daily investment flow to cover payroll expenses, taxes, and negotiation with suppliers.
  • Emergency fund: Provide the necessary liquidity to face unforeseen events and keep the business afloat without throwing off the approved budget.
  • Strategic modernization: Financing for the renovation of fixed assets or acquisition of new equipment.

With this alliance, Microsoft and BBVA Mexico strengthen their actions to support national organizations, guiding and accompanying them in their digitization process, in this way both companies reiterate their commitment to Mexican organizations by providing critical support that will help these businesses recover and reinvent themselves for the future with the help of technology.

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