National MSMEs Roadshow reaches Belize City

By William Ysaguirre (Freelance Writer)

BELIZE CITY, Wed. Aug. 12, 2026

   Belizean entrepreneurs learned how to grow their business and to register their Medium, Small, and Micro Enterprises (MSME’s) into the formal sector of the Belize economy, when the National MSMEs Roadshow, organized by the Belize Trade and Investment Development Service (BELTRAIDE), arrived at the Belize Civic Center in Belize City on Wednesday and Thursday, August 12-13.

   After an introduction by BELTRAIDE executive director Ishmael Quiroz, and welcome remarks from Belize City Mayor Bernard Wagner, Beltraide staff members made their contributions, as Brandon Lopez outlined the blueprint for MSMEs’ digital growth, and Martin Rivas explained the advantages, efficiencies, perils and pitfalls of e-commerce.

   Asia Gilharry explained the intricacies of getting a product ready for export; meeting quality standards and phyto-sanitary requirements for food and agricultural products in an export market; appropriate packaging and labeling in compliance with the laws, and in the language of the destination country, and the many other costs, freight, insurance, methods of payment, and documentation that must be undertaken before the product starts generating a profit in the export market.

   Marceli Richards explained the importance of gaining the buyer’s trust and conveying the value of a product to the buyer, so that customers focus on how the product will enhance their lives, rather than the price. She recommended that discounts should only be offered to large customers buying on a bulk scale, or as part of a promotional campaign, to retain customer loyalty, or to eliminate inventory of old stock. The seller should always know his break-even cost, and absolute minimum price.

   Marjani Ortiz impressed upon the entrepreneurs the importance of having accurate accounts of cash flow, as well as financial income statements and balance sheets, to track the value of the business, losses and profitability and also for tax assessments.

   The Belize Tax Service (BTS) encourages voluntary compliance by applying the tax laws fairly and equitably, explained BTS officer Carolina Mai, citing their role in helping informal enterprises transition into the formal economy by registration into the business tax regime. Taxes pay for many other services throughout our society, so Mai detailed the process for registration and the many online sources of support for digital filing and online payment of income tax returns and General Sales Tax.

   The Ministry of Rural Transformation is also in the process of introducing a Trade License for rural businesses which will come into effect in January 2027, and Rural Community officer Elmer Osorio explained how it will work; that any business, small mom and pop grocery stores occupying up to 600 square feet or less would only pay a $10.00 license fee per year. As the business footprint increases, the enterprise would be assessed for an annual trade license, which might vary up to a maximum of $2,000 per year.

   A new MSME’s MicroEnterprise Development and Support bill is currently in the draft stage, explained Franz Smith of the Investment Policy and Compliance Unit, which will offer concierge services to help micro-enterprises meet regulatory obligations and licensing. The rationale is that MSME’s account for 90 percent of businesses in the global economy, providing 50 percent of the jobs, according to World Bank numbers; and it will make it easier for micro-enterprises to grow, while stimulating national economic growth and more jobs. The law defines a microenterprise as one which employs fewer than 10 employees, with annual sales of less than $200,000, and less than $200,000 in total assets. Smith said the law would not benefit micro-enterprises which are already incorporated, and he encouraged new entrepreneurs to wait until the new law takes effect to incorporate.

   The government already offers fiscal incentives to help new investors and businesses get off the ground, such as a duty-free exemption on up to $1 million over a maximum of 8 years, on imported materials and equipment, as Robert Mossiah of the unit explained. He defined equipment that would be ineligible for duty exemption and also the type of companies that would qualify for duty exemption, and the sort of businesses that would be ineligible.

   Business persons participated in an all-day formalization clinic on Thursday, where they got detailed information from a host of government agencies on how to register their business, with all appropriate licenses and fees paid, to be compliant with Belize’s business tax regime. These bodies included the Belize Chamber of Commerce and Industry, the Social Security Board, the Labor Department, the Belize Intellectual and Property Rights Office (BELIPO), the Belize City Council, the Belize Companies Registry, the Customs Department, Central Bank, National Bank, the Development Finance Corporation, the Belize Postal Service, the commercial banks and BELTRAIDE’s various agencies: the Small Business Development Center (SBDC), Belize Training and Employment Centre (BTEC), Invest Belize, and Export Belize.

   The MSMEs roadshow culminates with the participation of various business owners in the Belize City Council Downtown Super Sale Expo on Albert Street on Saturday, August 15.