Project Overview

The Belize Enterprise Empowerment Project (BEEP) was a 2-year initiative designed to provide access to financial resources and business leadership skills to 95 MSMEs in Belize. The goal was to help these businesses establish and grow into thriving, consolidated entities, ultimately generating new employment opportunities and driving economic growth.

Key Sub-Objectives:

  • To assist 35 Maturing MSMEs to develop innovative and growing enterprises that can compete in domestic, regional, and international markets.
  • To support 35 Maturing MSMEs facing economic challenges due to high inflation caused by the COVID-19 pandemic and rising fuel prices.
  • To support 35 Maturing MSMEs within the blue, green, and orange economy sectors.

Main Benefits & Funding

Customized Training

Free, tailored business training sessions to enhance leadership and operational skills.

Personalized Advising

One-on-one business advising to help refine strategies and scale nationally.

Grant Funding

A non-reimbursable $7,000 BZD grant for 35 selected Maturing Businesses.

Eligibility & Target Group

Target Group: Maturing Enterprises

Operating for 3 years or more with slow but steady growth, an innovative business model, and ready to scale nationally.

Core Criteria

  • Business is 100% Belizean Owned.
  • Applicant is 18 or older.
  • Operating for 3 or more years.
  • Has a well-defined customer base and consistent income.
  • Demonstrates Value Added potential, Innovation, or usage of new/existing technology.
  • Environmental and social sustainability.
  • Financial need is a key consideration.

Eligible Sectors

  • Aquaculture & Agriculture/Agro-Processing
  • Tourism & Cultural/Heritage Tourism
  • Renewable Energy
  • BPOs & Information Technology and Communication Services
  • Light Manufacturing
  • The Creative Industry (Music, Performing Arts, Visual Arts, Crafts, Film/Media, Design/Fashion, Literature/Publishing)

Funding Usage

What CAN BE Funded ($7,000 Grant)

  • Financing of Working Capital (raw material, product expansion, diversification).
  • Advance prototypes and market validation efforts.
  • Investment in essential assets (machines, equipment, IT technology, tools).
  • Development of business infrastructure.
  • Outsourcing services for marketing, branding, graphic design, packaging.
  • Promotion, customer loyalty, and retention strategies.
  • Development of a robust Minimum Viable Product (MVP).

What CANNOT Be Funded (Key Exclusions)

  • Payment of existing **debt**, taxes, or fees.
  • Purchase of **land, buildings, or vehicles**.
  • Financing of expenses not directly related to the business's **growth or innovation**.
  • Activities deemed **environmentally or socially harmful**.
  • Personal expenses or drawings.
  • Reimbursement for expenses incurred **prior to grant approval**.
  • Political contributions or lobbying.