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Almost 900 local companies benefit from small-business support program
September 30, 2020
Belize and Taiwan sign economic co-operation agreement
September 30, 2020Almost 4,000 applications received for small business support program
Posted: Wednesday, September 30, 2020. 1:24 pm CST.
By BBN Staff: The Government of Belize informed that a total of 3,994 applications were received from the Micro, Small and Medium enterprise support program.
Of these applications, 1,489 were abandoned, 623 are still ongoing and 1,882 have been submitted.
Abandoned applications refer to those who did not complete the application applied to the MSP in error, or were no longer interested in applying for assistance.
Ongoing applications require additional information such as banking information or industry, and applicants have been contacted to complete their applications.
The preliminary breakdown of the submitted applications by industry are as follows:
| Industry | No. of Applicants | Percentage |
| Agriculture | 154 | 8% |
| Agro-processing | 138 | 7% |
| Commercial Free Zones | 1 | 0% |
| Creative and Cultural Industries | 513 | 27% |
| Fisheries | 31 | 2% |
| Light Manufacturing | 132 | 7% |
| Tourism and Leisure | 776 | 41% |
| Transportation and Logistics | 137 | 7% |
| Total | 1,882 |
Breakdown of assistance by type requested:
| Ongoing | ||
| Both | 149 | 24% |
| Grant | 137 | 22% |
| Loan | 85 | 14% |
| Unemployment | 12 | 2% |
| Wage Subsidy | 240 | 39% |
| Total | 623 | |
| Submitted | ||
| *Both | 454 | 24% |
| Grant | 1,247 | 66% |
| Loan | 125 | 7% |
| Wage Subsidy | 56 | 3% |
| Total | 1,882 | |
* Both refers to applicants who applied for a loan or grant plus wage subsidy.
Since September 15, a total of 693 grants have been paid amounting to $1,732,500 and loans have been approved for 196 businesses totaling $2,983,351.
Payments are being disbursed through the National Bank of Belize Limited.
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