Escaping an abusive marriage in a small town in the Western Highlands of Guatemala, mother of three, Maritza Castro faced starting over again in San Marcos from scratch with her young family.
While she had long wanted to set up her own business and achieve financial security, the 33-year-old quickly hit a brick wall, as she lacked the necessary skills and know-how to get started.
“I had always wanted to be an entrepreneur … and improve our living conditions,” says Maritza. “But I faced difficulty managing the income I earned.”
Everything began to change the day she walked into a local branch of Banco Industrial in San Marcos and was offered financial skills counselling through the Thriving and Advancing in Intermediate Cities in Guatemala project.
Supported by Cities Alliance and funded by the Swiss Agency for Development and Cooperation (SDC), the programme offers practical training to help economically vulnerable people achieve financial stability in regions marked by poverty and emigration—often to Guatemala City or the United States.
Launched in 2018, the project’s first phase supported remittance-receiving households in San Marcos and Amatitlán, helping them formalise savings that could be converted into business credit—generating jobs and increasing the municipal tax base.
Within two years, over 30,000 people had been trained, saving a collective US$4.5 million. A portion of this was offered as credit to participants launching small businesses. Now in its second phase through 2026, the programme is expanding to migration corridors around San Marcos and is adding inclusive municipal services to its goals.
Banco Industrial is one of four financial partners in the project. The counselling Maritza received was practical. In her first session, she learned to create a household budget, save regularly, use credit responsibly, and consider insurance protection. A key moment came during an exercise on expense tracking. "I learned to record all my expenses, identify hidden or impulse buys I was constantly making, and distinguish between what was necessary and unnecessary," she says.
That moment was key: I set a goal of gradually saving to achieve my dream of starting a business.
With the support of remittances from a relative abroad, Maritza began saving capital and, in 2024, opened a pet and animal food store in San Marcos. “I started with the idea of selling only pet food, but soon the business grew. Now I also offer wet food, toys, accessories, hygiene products, flea treatments, litter boxes, scratching posts and more.”
Customer response has been enthusiastic. “Many tell me this kind of business was much needed in our area. Though I was nervous, I felt confident things would turn out well.”
Now in its second year, her shop is thriving. Maritza applies everything she’s learned—from personal budgeting to managing inventory. She maintains a business budget, tracks income and expenses, identifies fixed and variable costs, and manages every quetzal carefully.
“I’ve cut many unnecessary expenses: I used to buy snacks like junk food and sodas for my kids every day. Now we prepare snacks at home and avoid impulse spending,” she says.
She also sticks to strict financial discipline: saving at least 10 percent of her income and using her credit card only for business needs, always paying it off on time.
This business has become our main source of income and is essential for supporting my family. My children help with cleaning and organising products, especially when they’re not in school or working.
A gender-aware approach is central to the Thriving and Advancing in Intermediate Cities programme. It’s built on the belief that giving women tools to build assets helps reduce economic vulnerability and increase financial independence—aligned with Guatemala’s gender equality goals in education.
“Women often have both resilience and drive,” says Jaqueline Barrios, country coordinator for Inter-American Dialogue, a Cities Alliance partner focused on migration, remittances, and development.
We empower people through financial education—helping them transform habits, strengthen family finances, and move toward their goals with responsibility and vision.
– Jaqueline Barrios, Country Coordinator, Inter-American Dialogue
Looking ahead, Maritza has plans to develop the business. “I recently completed a dog grooming course, and soon I’ll offer that service in the shop,” she says.
With her sense of financial security growing, she’s also daring to dream bigger—not just for her business, but for her family.
My next dream is to travel with my children—something that once felt impossible. But now I know that with clear goals, discipline, and effort, anything is possible. "
– Maritza Castro
