If one of your goals for 2024 is to get that business you’ve been thinking about up and running, or if you want to grow your company, Mexico City will give you a little help to achieve this goal, since it will eliminate 80 thousand pesos and up to 800 thousand pesos those who meet the requirements for participation in the Social Economics program.
“The overall goal of the Mexico City Social Economy Program until 2024 is to promote the development, integration and consolidation of cooperative societies based on the principles of democracy, solidarity, participation and reciprocity; by providing remittances and services to facilitate the formal formation of cooperatives,” the capital’s labor ministry said.
The program provides targeted direct support cover the costs of specialized technical assistance to improve the project and business plan, as well as indirect financial support for the legal establishment of a public organization as a cooperative before the competent authorities.
This will also provide direct financial support for purchase tool, equipment or raw materialrelated to the production activities of a public organization, after the process of its creation or for an already created cooperative society.
Which subprogram do you belong to if you want to study?
Creation of social enterprises: Each newly created cooperative must consist of 5 people and will receive financial support in the amount of up to 80 thousand pesos as start-up capital to promote a productive project.
You might be interested > CDMX will install free water collection systems; Requirements and how to register
Strengthening social enterprises: The beneficiary cooperatives of this subprogram, which must have 8 participantsthey will be provided with financial support in the amount of up to 120 thousand pesosto enhance your project with equipment, tools and supplies.
Illustration: UNAM
Popular impulse: Each cooperative of this subprogramme, the only one of its kind in Latin America, will consist of at least 50 people. In this case, financial support will be up to 800 thousand pesos.
What requirements must I meet if I want to start a business?
Persons applying for participation in the Social Economy program under one of its three subprograms must deliver the necessary documentation to the institutions of the Ministry of Labor and Employment Promotion.
- Not simultaneously be an active beneficiary of another program or social action of the Ministry of Labor and Employment Promotion.
- All members of the Social Cooperative Organization are residents of Mexico City.
- Please provide a telephone number for information or inquiries.
- Please provide an email address for legal notices.
- That the economic activities of the beneficiary social organization or cooperative are carried out in the CDMX.
Required documents:
- Current official identification of each of its members
- Demonstrate under oath that you are telling the truth and that you have no support outstanding or pending departmental audits.
- CDMX Public Administration.
- Apply for Applicant Registration
- fat tail
Photo: Cuartoscuro Archive
How to register for the Social Economics program?
People seeking to become beneficiaries of the Social Economy Program under one of its three subprograms, must provide the necessary documentation to facilities of the Ministry of Labor and Employment Promotion.
It is now possible to deliver documentation from January 17 last year. For more information check the Official Gazette.
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
