Posted: Thursday, August 4, 2022. 1:14 pm CST.
By Aaron Humes: On Friday in Belize City, a first-ever Micro, Small, and Medium-sized Enterprise (MSME) National Roadshow will be launched, kicking off a tour that will bring services to these businesses closer to home.
The Cabinet has announced that the road show will last four months, covering district towns and tourist destinations and providing access to “important services very close to home, ensuring that micro, small and medium-sized businesses have the opportunity to get business-ready or grow their businesses to the next level.” These include, as enumerated by Cabinet, “capacity building, access to finance, policy, and legislation, MSME formalization, and market access.”
Under-girding the tour is the discussion of an official policy and strategy for MSMEs for 2022-2025, presented by the Ministry of Investment and approved by Cabinet along with several key recommendations, carving a roadmap with significant contributions to the efforts that have been undertaken to strengthen the MSME ecosystem in Belize. “In Belize, MSMEs are responsible for approximately 70 percent of national employment and close to 50 percent of the country’s GDP,” according to Cabinet figures.
The Executive states, “This national effort towards MSME resilience and sustainability compliments the recent strategy to increase the call to support local businesses by buying locally produced goods and services. This support is crucial, given MSME’s contributions to economic development, through job creation, strengthening communities, and increased contributions to gross domestic product (GDP). Cabinet’s commitment to focusing on leading the sustained growth and prosperity of all Belizeans, through inclusion and partnership, is highlighted in these initiatives.”
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