Micro, small and medium sized enterprises (MSMEs) have been generally stated as vital in the creation of employment, income generation, and other outcomes. In Belize, the high number of MSMEs is indisputable; yet, little empirical exploration has been formulated to “quantify the number, sizes, employment figures, ownership, gender distribution, geographical locations etc.” of MSMEs. It is crucial; therefore, to obtain such information to develop any policy or strategy for this sector.
The CARICOM Development Fund (CDF) is providing technical assistance to BELTRAIDE by funding a Micro, Small and Medium Enterprises (MSMEs) Policy and Strategy for Belize. The ultimate objectives of this project are to:
- Agree on a definition of MSME
- Identify issues & constraints of MSME development
- Define specific activities and programs that will address prioritized issues/constraints
- Plot the way forward for sustainable MSME sector
A survey of seven firms who attended a recent CARICOM consultation on December 8th identified significant issues. Accounting for 71% of this priority issues is access to credit, energy cost, and business support services. BELTRAIDE is coordinating a series of national MSME Consultations from January 23th to February 3rd to refine policy initiatives to match the issues facing the MSME sector. These consultations will be participative and activity oriented in order to solicit the views and opinions of the participating MSMEs.
February 6, 2012 at 12:00 am
I am a small foreign investor and business development consultant ( angel investor or business partner). I have wanted to invest in Belize for years but don’t want to be a real estate player and not sure enough of the place to go it alone. Would love to buy into some S.M.E.s and lend some management support as the companies grew. Let me know if there is room for my type in this group.
January 19, 2012 at 7:54 pm
I would like to be invited to this consultation in order to give my views/opinions on the policy framework that is expected to be participative as you described. My information are below as requested
January 19, 2012 at 8:00 pm
Hi William!! Thank you for your interest..I will send you an email shortly with the details of the consultations as it pertains to dates, and locations. You can then let me know what location is of interest to you and I can proceed to secure your participation on that set of consultations. Thank you once again and we do appreciate your enthusiasm and openness to contribute to this initiative…
January 16, 2012 at 8:29 pm
Great article Nilda. It is about time that Belize got serious about developing MSME as a cornerstone for economic development
January 16, 2012 at 8:43 pm
Totally Agree Mike Singh! In order for Belize to develop MSME’s, they need to provide feedback and collaborate on this initiative…..The National Consultations are aiming not only to generate feedback but to tap fully into the full potential of the SME sector. Factors need to be addressed, such as the existence of a number of constraints hampering the development of the sector.Including: undeveloped infrastructure, poor business development services, limited access of SMEs to finance, etc the feedback in return–will formulate a STRATEGY AND POLICICY for MSMEs in Belize.