When Bety and Felix fled Venezuela to rebuild their lives in Mexico, they brought with them very little except for hope, resilience, and a dream of opening a family restaurant. But with no formal business experience and no access to financial services, realizing that dream felt impossible.
That’s where IDEAS stepped in. Over 12 months, we worked alongside Bety and Felix, equipping them with the tools, knowledge, and confidence to not only start their restaurant but to thrive. Today, their restaurant is a bustling hub of delicious food, community, and opportunity, and hope for what’s possible with the right support for many migrants and returnees struggling to start and run a successful Microenterprise.
The Challenge
Like many migrants, Bety and Felix faced steep barriers to starting a business:
- No Access to Financial Services: Without a credit history or local references, traditional banks turned them away.
- Lack of Business Knowledge: They didn’t have the experience of owning and running a business.
- High Operating Costs: Renting stoves, refrigerators, and even dishes from their landlady took away from their earnings.
The Transformation
Feeling confident and empowered with new knowledge and a much-needed financial resources, Bety and Felix transformed their restaurant into a thriving business:
- Increased Efficiency: Owning their equipment cut costs and streamlined operations.
- Customer Growth: Weekend crowds now spill onto the sidewalks, waiting for a taste of their specialties.
- Job Creation: The couple hired local help, creating opportunities for others.
- Family Success: Their daughters pitch in after school and university picking up important skills.
What’s Next for Bety and Felix?
At IDEAS, we believe that no one should have to face these challenges alone. We partnered with Bety and Felix and worked with them providing:
- Financial Literacy Training: Felix completed our 4-week course, covering budgeting, loan applications, and business management. His excitement led Bety to enroll in our 10-hour course, where she learned how to adapt their recipes to local tastes and optimize operations.
- Tailored Business Support: Through follow-up assistance, we helped the couple improve efficiency, attract more customers, including changing recipes to meet local tastes.
- Access to Microfinance: IDEAS identified a Microfinance institution and persuaded them to start lending to immigrants. After showcasing Bety and Felix’s thriving business to loan officers, the couple were able to secure their first loan to purchase essential equipment.
What’s Next for Bety and Felix?
With their loan nearly paid off, Bety and Felix are dreaming even bigger. They’re planning to expand their business and launch a new venture—confident in their ability to succeed. And their story is inspiring other immigrant entrepreneurs to seek IDEAS’ support.
Key Takeaways
Bety and Felix’s journey highlights the core of what IDEAS offers:
- Empowerment through Knowledge: Education builds confidence and capability.
- Advocacy for Access: Removing barriers to financial services opens doors to opportunity.
- Ongoing Support: Success isn’t just about starting—it’s about growing and sustaining families and communities.
Be Part of the Change
At IDEAS, we’re committed to empowering more families like Bety and Felix to overcome barriers and achieve their dreams. Together, we can create thriving communities and a brighter future for all.
Your support makes stories like Bety and Felix’s possible. Join us in transforming lives—one business at a time.