Research on repeat victimisation consistently reveals that crimes to concentrate within a small subset of victims. Given a recent increase on the number of extortions against businesses in Mexico, this research aimed to answer whether extortion concentrates within a small subset of businesses and if so, what could explain this concentration. Drawing from a national commercial victimisation survey conducted in 2013, several hypothesis relating to potential sources of risk heterogeneity were tested using single and multilevel modelling based on the negative binomial regression. Results showed that extortion concentrates far beyond what can be explained by chance, and that extortion incidence is positively associated with corruption incidents, years in business, state homicide rates, and being a restaurant, hotel or bar. Alternatively, it was found that the smallest businesses suffer less extortion than larger businesses. State level effects were found to be comparatively small to differences between businessses. Implications for research and crime policy in Mexico are briefly discussed.