Corozal Entrepreneurs Trained in Pricing Strategies at BELTRAIDE Workshop

A specialized training session focusing on costing and pricing strategies was held today at the Corozal Town Council. The event focused on strengthening the capacity of local small businesses and entrepreneurs from the Corozal District. The initiative was a collaborative effort between BELTRAIDE, the Ministry of Economic Development, and the Corozal Town Council. The session marked the beginning of a long-term commitment to providing practical, business-focused education to the participants. Mayor of Corozal Town Rigoberto Vellos spoke to our newsroom about the initiative and how it came to life. 

Rigoberto Vellos, Mayor of Corozal Town: “But today is a very important topic that they’re discussing, pricing and costing. I know that we have had so many different complaints from consumers when they go into the shop and one shop has a product for a certain price, they go to another shop and for some reason the other shop takes up the price so high. Well that is the reason why it’s important today. Those businesses in there are getting training, they’re teaching them, giving them the knowledge, the proper education to know how they can come around and doing the correct way to do the pricing and the costing. That’s the reason why I believe it’s very important because once we have a proper formula and everybody can use that everybody has the knowledge of how to go about and doing costing and pricing that eventually everybody more or less will have the same range of pricing and consumers will gain out of it and of course the business owners they get the knowledge which is very important. And I want to encourage other businesses to get involved. This is a collaboration between BELTRAIDE, Ministry of Economic Development and the Corozal Town Council and I’m sure we will have far more opportunities coming along with BELTRAIDE and Economic Development.”

Marty Lopez, business advisor at BELTRAIDE, says the training forms part of a broader strategy to equip MSMEs with the skills, knowledge, and tools necessary to improve their financial sustainability and competitiveness in the market.

Marty Lopez, Business Advisor, BELTRAIDE: “It’s very important to do a proper costing analysis of how to properly price your products. So that is why this training is very important and we’re hoping that at the end of this presentation today the entrepreneurs that are attending the training can come out with a better understanding and idea on how to go about and do the proper costing and pricing analysis for their products or services. We are hoping that these business can then venture into also growing their business and expanding their businesses not only coming out today and not getting much out of this training because we’re hoping that they get the most out of it.”

Lopez added that similar initiatives will be held in municipalities across the country.