Belize’s 1st Small Business Development Center was launch

Belize’s first Small Business Development Center was launched today at the Radisson.  The initiative is a partnership between a number of agencies, including BELTRAIDE, the Development Finance Corporation, ITVET, the Belize City Council, the Organization of American States, as well as the University of Texas at San Antonio.  BELTRAIDE recently conducted multiple training exercises with a number of stakeholders to bolster the readiness of Belizeans in establishing the center. 

Representative, Small Business Development Center

“The university actually plays a big role in offering entrepreneurial course so that’s one of the big benefits of being partners with universities, with colleges.  We also want to have, at the moment of hiring counselors, we want our councilors to have experience but also the values and the communicational skills to motivate entrepreneurs and so it’s a combination of both working with universities and also having the right people as councilors working with the small businesses.”

Representative, Small Business Development Center

“We give loans for five thousand dollars, or a small and micro loans, you just need a promissory note.  I promise to pay.  Up to ten thousand dollars you’ll need one guarantor, fifteen thousand dollars two guarantors plus bill of sale or anything like that you may have.  Up to twenty thousand dollars, over twenty thousand dollars we will need real estate.”

The government has also pledged its support for the development of Micro, Small and Medium Enterprises.