Last year August Beltraide launched its Belize Enterprise Empowerment Project, providing grant funding to micro small and medium enterprises. Today BELTRAIDE distributed a 3rd round of grants, and final one for the year. Jomarie Lanza was there and here's what she found out about these new BEEP recipients.
Through Beltraide's, Belize Enterprise Empowerment Project, 74 small business owners have received funding to take their enterprise to the next level. They received up to $7,000 in grant funding at the third seed capital ceremony that took place today. Executive director for Beltraide, Ishmael Quiroz told us that they received hundreds of applications but were looking to award grants in 3 specific categories, start up companies, maturing enterprises and exporting businesses.
Ishmael Quiroz, Executive Director, Beltraide
"So just to mention that the partners in our selection process have been the development finance corporation, the Belize chamber of commerce and industry and the National institute of culture and history together with representatives from Beltraide, and so the criteria that has been developed to assess the application that we received really looks for what stands out you know in the business ideas that have presented, looking at sustainability of course we are guided by green, blue and orange you know principles so anything that kind of really speaks to that and very importantly also speaks to that sustainability aspect which of course does not only mean environmental it means viability we are looking at what will have impact and so what we have really been looking for across the different categories are business that really have strong potential, strong promise to either continue from the start up phase, continue to mature in terms of scaling and of course tapping into export markets in terms of the exporting category."
Applicants had to find a creative way to pitch their business for grant funding, and once they made it through the evaluation phase and were selected, then came the training part of the program, a 5 week course to provide them with all the essential skills and understanding of what is required to grow a business.
Ishmael Quiroz, Executive Director, Beltraide
"and then they go through a training phase and so there are a number of training sessions that they have to participate in all involving small business management and so once they have successfully completed or attended 80% of the training activity then they are eligible to receive their grants right that process will have developed a business plan an investment plan and that is what the funds are meant to basically realize to go into, so either equipment, certification, training, infrastructure or different aspects that the business needs so the plan is because they then become clients of the small business development center to continue with the support the check ins the monitoring and of course to ultimately have reporting on the impact."
So what will that impact look like for these small business owners? We asked them and they told us how that funding will be put to use.
Torie Tate, Kriyatula
"So I do handmade jewelry and other Artisan products. I started in 2022 so it has been a little over 3 years that my business has been in operations."
"So with my grant I actually plan to start to get more high quality materials for my jewelry and I will also be getting all the necessary equipment for the expos here in Belize I will be getting a new tent, new table, new chairs and other equipment that I will use to help make the days easier for me."
Kenima Williams, Kenima's Garifuna Cooking Class
"So Kenima's Garifuna cooking class offers an authentic cultural and culinary experience."
"So this initiative will help me build a modern kitchen and increase revenue for my business and help create more jobs in the village."
