Empowering Entrepreneurs: Belize Enterprise Project Grants Seed Capital to Promising Startups

Fifteen entrepreneurs in Belize are being supported in their business ventures through the Belize Enterprise Empowerment Project (BEEP), an initiative launched by the Office of the Prime Minister (OPM).  The program was launched in August 2024 to foster entrepreneurship and stimulate economic growth in partnership with the Belize Trade and Investment Development Service (Beltraide).  BEEP is specifically designed to provide seed capital to Micro, Small, and Medium Enterprises (MSMEs) across the country, empowering them to overcome financial barriers and achieve sustainable growth. Today marks a significant milestone as the second group of recipients receives seed capital, equipping them with the resources needed to expand their operations, create jobs, and contribute to the nation’s economic development. Our newsroom spoke with Executive Director of Beltraide, Ismael Quiroz, who expressed that the program is built to empower entrepreneurs with necessary skills to run a sustainable business. 

In partnership with the OPM, the CARICOM Development Fund (CDF) allocated $800,000 Belize dollars total for grant distribution, attracting over 230 applicants in a highly competitive selection process. Among the recipients of the $7,000 grant was Shanika Garbutt, owner of Nika’s Seamoss, a business she launched in 2021 during the height of the COVID-19 era. What distinguishes her venture is its commitment to sourcing raw materials from local seamoss farmers, fostering sustainability and community support. Garbutt shared with Love News how this grant will play a crucial role in expanding her small business and enhancing its impact.

The government’s support is expected to have a significant impact on the recipients, offering them the opportunity to expand their operations and contribute to Belize’s growing economy.