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BELTRAIDE assists Small Medium Enterprises identify financing

The Belize Trade and Investment Development Service, BELTRAIDE, hosted a sensitization session with stakeholders from the Belize Entrepreneurship Ecosystem on financing options for small and medium businesses. Wendy Hernandez, project officer at BELTAIDE, says these options are available through the Angel Investment Methodology.  The initiative aims to place a mechanism of regional financing for the promotion of entrepreneurship in motion.

Wendy Hernandez Project Officer, BELTRAIDE: “What we want to do is we want to promote an idea of entrepreneurship ecosystem that promotes entrepreneurship in a comprehensive manner and we are trying to do this through five different pillars but one of the main pillars is financing so today we are giving educational material to different stakeholders of the National Entrepreneurship Ecosystem so they can understand that one of the different types of financing that are available for startup companies is Angel Investment. What does Angel Investment do? It provides risk capital to small business ventures and also we want people to understand how  Angel Investment can have a positive impact within the SME Industry and also help towards economic development in the country and also in the entire region of SICA.”

Ariel Castillo, a Consultant with Angel Investment says their policies and programs can positively impact Small Medium Enterprises financing in Belize.

Ariel Castillo Consultant , Angel Investment: What we do is that we have a form where we asking projects to apply, we review those projects: understanding their market, what they are looking for in themselves and what they are going for and also their fundings needs and what they will do with the funding.We review those and then depending on the project we can obviously try to negotiate to help them. Right now what we are doing is creating the awareness, there are lot of entrepreneurs in our region that are struggling to access funding, they have great ideas, however we need to call the community of people with net worth that can support these activities and also create networks and contacts in order for them to promote entrepreneurs so that can help the economy and the country. Now how they can access that is obviously developing a well product or a good entrepreneurship that can move forward and that there is that dynamic approach that can leverage the country.”

Belize is one of four countries within the SICA region to receive this training.