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CITCO Continues Consultations on new Trade License Reform

The Belize City Council continues to hold consultations to discuss the new Trade License Reform. Consultations focus on the new approach to trade licensing fees, and the partnership it seeks to fortify between the private sector and the various municipal governing bodies. As Mayor Wagner shared, this new regime seeks to redefine the way the business sector views trade licensing by improving transparency, predictability and ease of doing business.

Bernard Wagner, Mayor of Belize City: “That trade license reform is well underway. We continue to do our consultations we plan to do four such consultations. Essentially having business owners, interested partners, stakeholders understand the new reform. Understand the structure, understand the model how it works and how it will work to benefit you as a business owner and so those consultations will continue well into March of next year and thereafter we do plan on instituting the regime for new business not the existing business. The existing business will come on stream in 2023.”

According to Mayor Wagner, trade license fees will be based on different commercial zones which will be mapped out as part of the reform process.

Bernard Wagner, Mayor of Belize City: “The city is divided into economic zones. You have the developed zones, you have the undeveloped zones, you have the emerging zones and so it depends on your appetite as a business owner. If you are doing business in a developed zone then obviously your trade license matrix will be a bit higher then if you are operating in an emerging zone or an undeveloped zone. So as a business owner you have to look at all those factors. You have to look at the economic sector you’ll be operating in. One of the things I always say about this reform is that supposed you’re opening a little barbershop the cost of your trade license in a developed zone will differ from the cost of your trade license in an emerging or undeveloped zone so it gives the business owner those components to work with so that you are able to have your business fit toward your economic situation.”