Hector Barreto, administrator of the US Small Business Administration (SBA), praised Mexico's commitment to helping small enterprises on Tuesday. He was in Mexico to share American expertise on nurturing small firms and to meet the Economy Secretary Fernando Canales.
President Vicente Fox has emphasised the role of Mexico's small businesses, including legions of unregistered street concession stands, in providing employment and expanding the economy.
Recent statistics on employment suggest that job growth in Mexico's formal economy isn't keeping pace with the number of people entering the jobs market.
Commenting on Mexico's micro-lending programmes, Barreto said "You're starting with very small capital infusions.But later on, instead of having a concession on the street corner, that could turn into a retail establishment."
Barreto’s schedule included a meeting with members of Mexico's development bank, Nafinsa, to discuss lending to small businesses...
