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Jul 12, 2013

Youth Business Trust a bust?

The Youth Business Trust of Belize, a non-profit organization established to assist budding entrepreneurs, has suspended its operations indefinitely.  Y.B.T.B. closed its doors today after citing, among other reasons, difficulties with its credit portfolio.  Part of the organization’s multi-pronged approach to aiding young business owners develop small enterprise was through micro-financing.  Qualified candidates were often able to access startup funding; however, collection proved to be problematic if the ventures were not as successful as anticipated.  While a date has not been set for the resumption of the program, restructuring in other areas of the organization, particularly in the area of mentorship, remains ongoing.  In 2011, the trust launched a series of new initiatives, including K Pasta, an idea borne out of a business plan developed by Karon Crawford.  According to the chairman of Y.B.T.B.’s board of directors, several meetings have been held recently with participants of the program to notify them of the suspension.

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