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Government to support MSMEs with financing; duty exemptions for capital investments

Posted: Thursday, December 1, 2022. 10:44 am CST.

By Zoila Palma Gonzalez: At Tuesday’s session of the cabinet, the tabling of 2 loan motions was approved for Government to provide government guarantees for the Development Finance Corporation (DFC) to support tertiary-level education and micro, small and medium enterprises (MSMEs) in Belize.

In addition, cabinet approved amendments to the Fiscal Incentive Act to support MSMEs with important duty exemptions for their capital investments, to incentivize their formalization.

Government will also earmark procurement to MSMEs with a view to stimulate economic growth and improve Belize’s investment climate.

Last month, Beltraide and the Office of the Prime Minister concluded a successful MSME roadshow where entrepreneurs from around the country had the opportunity to participate in a 3-day event that included boot camp training on business models, marketing, customer service, goal setting, and money management.

 

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