Ria is the largest incubator of ethnic entrepreneurs

Andres sena

Ria’s former employee, Andrés Sena, becomes an entrepreneur by opening his own Ria store.

Andrés Sena is from the Dominican Republic and has just arrived at the counter of his new shop. After 10 years working as a cashier for Ria in Barcelona, Andrés has decided to become an entrepreneur and is now the owner of a Ria store in Hospitalet.

This is just one example where a Ria employee has become an entrepreneur, and there are many examples of immigrants who became entrepreneurs with our help, as entrepreneurship is in our DNA.

For instance, Ria operates in Europe through a network of  over 13,000 agents in 17 different countries; over 11,000 of those agents are immigrants who have established their businesses in their host country, operating as money transfer agents for Ria.

In Spain, where Andrés  lives and works, more than half of Ria’s agents are ethnic entrepreneurs. Ria trains those agents in areas such as IT and marketing and more importantly, Ria finances them with an average revolving credit facility of 5,000€.  This means that once the credit is repaid, it can be reactivated automatically. Such financing is critical to helping those entrepreneurs grow under current economic circumstances.

A large number of Ria’s ethnic entrepreneurs succeed in scaling up their operations to become owners of more than one location. Our most successful agent owns five stores in Madrid, Spain. Without Ria, very few of those 11,000+ immigrants would have realised their dreams of becoming entrepreneurs. This would inevitably have had a very direct impact on development in the host countries, particularly in respect to job creation and tax payments. Ria is proud of this achievement, which ranks very highly in its social accounting.

Good luck Andrés. You can count on Ria to assist you with your new endeavour!