National Entrepreneurship Development project launched by Beltraide

Beltraide has officially launched National Entrepreneurship Development Program, which is aimed to promote the development of micro, small and medium enterprises in Belize, over a two-year period, during which the project is expected to create or strengthen 31 enterprises, and 62 direct employees. It is also expected to generate US$124,000 in sales by new businesses.

The program is comprised of four major components: building awareness and support to national policies for entrepreneurship and design of a regional strategy, providing grant funding for qualified MSMEs, establishing a network to link MSMEs in Central America and the Dominican Republic, increase value added product/services, and engaging in knowledge management and capacity building of MSMEs. Its value is US$874,000; most part of this sum will be used for seed capital to provide financial aid to qualified enterprises.

The National Entrepreneurship Development Program is part of regional project known as the Integral Development of Entrepreneurship on Central America and Dominican Republic. Its is the result of collaboration between the Regional Center for Promotion of Micro and Small Enterprises (CENPROMYPE) and the government of Colombia and the Republic of China (Taiwan). The regional project is valued at US$1.5 million. At the launch of it, Belize officially signed on to the regional program.

CENPROMYPE is an arm of the Central American Integration System (SICA), which is responsible for contributing to the competitive development of MSMEs in Central America through the strengthening of the private and public companies that support and lend services to the sector.

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