Program Objectives
This program aims to support 8 Medium and 2 Large Enterprises in Belize by providing financial resources and to drive growth through increased adoption of digital solutions and improved economic efficiency.
Target Enterprises
The program aims to support 8 Medium and 2 Large Enterprises.
Grant Structure
Each medium and large eligible enterprise will receive grant a grant of BZ $40,000 (medium) and BZ $120,000 (large) respectively, provided in the form of services rather than direct cash.
Primary Goal
To foster growth and innovation within these enterprises through the effective integration of digital solutions into their operations.
Here's What's In It For You:
- Free Personalized Business Advising: Expert guidance to navigate your business growth.
- Grant Funding: Financial support in the form of services (BZ $40,000 - BZ $120,000).
Who are Medium and Large Enterprises?:
Medium Enterprises:
- 50 - 300 employees
- BZ $6 million - $30 million in annual sales & total assets
Large Enterprises:
- 300+ employees
- More than BZ $30 million in annual sales & total assets
What's the Application Process?
1
Call for Application: Application form will become available between October 20th, 2025 to November 10th, 2025.
2
Shortlisting of participants: Participants will be shortlisted after the call closes.
3
Digital Checkup: Complete the Digital Checkup via BCCI.
4
Digital Transformation Plan: Develop a Digital Transformation plan detailing how you will use the grant funding, including quotes from providers or vendors.
5
Evaluation Panel Review: The Evaluation Panel reviews and approves your Digital Transformation plan and access to grant funding.
Eligibility Criteria
- ✓ Enterprise, age 18 or older.
- ✓ Registered in Belize with 50% Belizean Ownership.
- ✓ Business should be operating for at least one year.
- ✓ Must have an annual turnover of at least $BZ 6,000,000.
- ✓ Completion of the digital check up with intermediate digital maturity.
- ✓ Businesses demonstrating growth in sales.
Eligible Business Sectors:
Agriculture
Professional Service
Food and Beverage
Creative Industry
Health and Wellness
Retail & E-commerce
Tourism and Hospitality
Logistics and Delivery services
Light Manufacturing
Ineligible Business Types:
- Retail & Resale (Non-Value Added): Grocery Stores, Supermarkets, Convenience Stores, Buy & Sell Businesses (e.g., Amazon/Shein Resellers).
- Purchasing shares or other financial investments.
- Entertainment & Hospitality: Bars, Nightclubs, Chill Spots, Karaoke Lounges, Casinos.
- Street Food Vendors.
- Other Ineligible Types: Vehicle Dealers, Multi-Level Marketing Businesses, Gambling, Lottery & Tobacco Shops.
Important Notes
- This program focuses on supporting individual medium and large businesses. Cooperatives and associations are not eligible to apply.
- Financial need is a key consideration in the selection process. Enterprises demonstrating financial need will receive a strong preference. However, acceptance is not guaranteed.
- All successful applicants will be required to register their business by the end of the project period, if applicable.
- Applicants must not have received grant funding from BELTRAIDE within the past three years to qualify.
- Digital Marketing (social media ads, branding and graphic design, etc.)
- Offline Marketing Materials: Printing of flyers, brochures, business cards, billboards, or traditional advertising, generation of QR codes.
- Development of Google Business Profiles, Ecommerce Platforms, and Business Websites.
- Digital Payment/e-POS system (PayPal).
- HR Payroll system/Customer Relationship Management (CRM).
- Accounting Tools (Quickbooks, Xero).
- Cyber Security Tools and Trainings (installation of basic antivirus, firewall).
- Technological Equipment Software – Computers, Monitors, receipt printers, routers, label printers, etc.
- Email Marketing Setup: Configuration of basic email marketing platforms (e.g., Mailchimp, Constant Contact).
- Local Search Optimization (e.g., Google My Business).
- Custom App Development (Basic).
- Productivity Software Purchases – Microsoft Suite, Click Up, Adobe Creative Cloud.
- Digital Strategy Consultation.
- Expenditures incurred before the date of approval of the grant.
- Purchasing shares or other financial investments.
- Acquisition of assets not directly related to business operations or digital transformation objectives.
- Salaries or wages for the business owner(s), team members, or existing staff.
- Costs associated with the design, development, or improvement of business, sales, or financial plans.
- Personal expenses of the business owner(s) or team members, including travel, meals, or accommodations not tied to the approved use of funds.
Your Journey After Approval
1
Virtual Seed Capital Ceremony: Enterprises attends the Seed Capital Ceremony.
2
Grant Agreement: Service providers will sign a grant agreement committing to deliver approved products/services directly to the beneficiary enterprises.
3
Payment Management: BELTRAIDE manages payments to approved service providers/vendors on behalf of enterprises.
4
Reporting: Enterprises submit progress and final reports with financial documentation (invoices/receipts).
5
Monitoring Outcomes: BELTRAIDE advisors follow up with enterprises to monitor outcomes (e.g., adoption of tools, improved sales, digital presence).
6
Business Formalization: Formalization of the business at the end of the project, if applicable.