In a significant step to enhance livelihoods and business opportunities in Belize, the Caribbean Development Bank (CDB, the Bank) through the United Kingdom Caribbean Infrastructure Fund (UKCIF) financed a two-week entrepreneurial development training programme for owners of 42 Micro, Small, and Medium-sized Enterprises (MSMEs) in the Corozal District, Belize. Held from February 11-21, 2025, the initiative was executed by the Ministry of Development and Housing (MIDH), in partnership with the Belize Social Investment Fund (BSIF) and the Belize Trade and Investment Development Service (BELTRAIDE). 

Speaking at the completion of the training programme, Mr Jorge Gentle, Acting Manager BELTRAIDE indicated “We are pleased to partner with CDB, to strengthen the skills of our businesspersons. This intervention marks the beginning of a journey towards building resilient and thriving enterprises capable of contributing significantly to Belize’s national development.” 

The capacity building programme forms part of a broader gender-sensitive and socially inclusive strategy to support small businesses along the recently upgraded Philip Goldson Highway and Remate Bypass funded by the United Kingdom. The initiative contributes to a longer-term development strategy developed to support MSMEs along over 100 miles of new roadway. As part of a deliberate business formalisation drive, 78 entrepreneurs received free business registration in collaboration with BELTRAIDE and the Belize Companies and Corporate Affairs Registry (BCCAR). 

Ms. Lisa Harding, Acting Head for the Private Sector Division at CDB, highlighted the importance of deeper cooperation to improve outcomes for MSMEs in Belize. “This programme is a prime example of how we’re collaborating to create meaningful and lasting impacts for MSMEs. By offering necessary training, capacity-building, and formalisation tools, we’re helping small businesses overcome barriers to growth. With continued support and stronger partnerships, we can foster a more inclusive and equitable business environment, ensuring that MSMEs remain a vital driver of Belize’s economic development” she stated.

Speaking on the significance of this and similar interventions Dr Greg Nunez, Operations Officer at CDB shared, “This support reinforces our steadfast commitment to strengthen social resilience in Belize. We’re creating a more enabling environment which is crucial to the country's economic growth. Empowering local entrepreneurs to succeed and scale will ensure MSMEs continue to be vital contributors to Belize’s growth and sustainable development.”

The training exposed the participants to business model management, customer service, digital marketing, financial statement analysis, cashflow management and budgeting. The event, a critical component of a wider effort to support small business development, culminated with the Buy Belizean Expo in Corozal where businesses showcased their products and services.