If your company has recently decided to nearshore or reshore, you are not alone. Recent research conducted by Deloitte shows that 89% of companies are looking to apply these strategies in the coming years. Given the supply chain disruptions over the past few years and ongoing trade disputes with China, the appeal of shifting some manufacturing to a nearby country with a similar time zone and affordable labor makes perfect business sense. However, moving a factory (or factories) is not a simple task. If you’re bringing work back to the United States, that is one thing. However, if you’re relocating to Mexico, it is crucial to evaluate the business environment and requirements to optimize this strategy.
Entering Mexico, there are some obvious challenges: you’re dealing with a different language and a different tax system. There are several processes you must navigate, and the requirements can be cumbersome. Mistakes early on can cause you to start over at the beginning.
When establishing a business anywhere, having connections to a reliable supply chain and partners can ease the way. To alleviate some of the risks, you need to find reliable, trustworthy partners including legal advisors, staffing agencies, logistics consultants, and suppliers. But, if you’ve never established a business in Mexico, then how do you find these partners?
This is where Steel Warehouse can help. We’ve been navigating business in Mexico for the last 20 years and we’re keen to share our experience and advice to help others. Even though we process and deliver steel for a living, we understand the opportunities and logistics of doing business in Mexico.
So, exactly how can Steel Warehouse support you?
- Introductions to experienced lawyers
- Understanding the Mexican supply chain, fabricators, and managing third-party suppliers
- Understanding the import and export permit processes for steel
- Guidance in filing for and operating with the IMMEX permit which creates significant cost savings, and opens the market to new business opportunities.
- Connecting you to subject matter experts to help you Identify a site location