Posted: Wednesday, May 29, 2019. 2:59 pm CST.
By BBN Staff: Today, the Belize Trade and Investment Development Service (BELTRIADE) launched a new programme geared towards developing Micro, Small and Medium Sized Enterprises (MSME)’s at the Best Western Biltmore Plaza.
The programme aims to reduce the cost of doing business for MSME’s by granting them waivers for importing material they need for their businesses. Dr. Leroy Almendarez, Executive Director at BELTRAIDE, explained that 70 percent of Belize’s economy comes from MSME’s however many of them are operating informally or unregistered.
Almendarez said that BELTRAIDE hopes to encourage more businesses to become registered with the various bodies such as the Department of General Sales Tax (GST) so that they can take their business to the next level.
“We will sell them the benefits and we hope that as we go around the country starting very soon, that more of these entities will want to become formalized because that’s the only way you can benefit, you have to be registered,” Almendarez said.
Entities such as the Economic Development Council, Belize Bureau of Standards, and Companies Registry were at the event along with financial institutions and some business owners.
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