29 Micro and Small Entrepreneurs Receive Seed Funding from B.E.E.P  

In August 2024, the Office of the Prime Minister kicked off the Belize Enterprise Empowerment Project (BEEP), a branch of the Belize Trade and Investment Development Service (Beltraide). The first group of recipients, celebrated under the theme “Celebrating Belizean Entrepreneurship,” is now receiving seed capital. BEEP aims to support Micro, Small, and Medium Enterprises (MSMEs). Almost two hundred and fifty applications were submitted, but only a select few qualified for funding. News Five’s Marion Ali was on the scene and filed this report.

 

Marion Ali, Reporting

Today, the top applicants who pitched their business ideas for funding received the money they need to start or expand their ventures. These applications were part of the Belize Enterprise for Empowerment Project (BEEP), an initiative under the Belize Trade and Investment Development Service. The funding, provided by the Caribbean Development Fund, through the Office of the Prime Minister, aims to support local entrepreneurs. Executive Director of BELTRAIDE, Ishmael Quiroz, explained that the program not only provides funding but also offers technical know-how to the beneficiaries. The recipients had to deliver compelling sales pitches, and the best among them were selected for this opportunity.

 

Ishmael Quiroz, Executive Director, BELTRAIDE

“The range of ideas and the range and creativity the new ways of doing things has been inspirational. And we’re very excited to speak with you today about just a few of the great ideas that we’ve seen so far. We’ve had 279 startup applications and 45 exports. Sector applications. Over the past months, we’ve witnessed the dedication of our participants firsthand who have engaged in our training sessions to hone their skills in financial management, digital marketing, sales, and crafting compelling investment plans. The selection process was, as I mentioned, rigorous with only those who demonstrated commitment to learning and growth. By attending at least 80 percent of the training sessions moving on to the pitching phase. So it was still not yet done. You had to pitch, you had to prepare, you had to convince. And that is what you did as awardees.”

 

Danelie Pott shared how BEEP turned her business idea into a reality. Today, she is the proud owner of Hello Roses.

 

Danelie Pott, Small Entrepreneur

“Participating in the BEEP has been a transformative experience for us at Hello Roses.  This program provided us with not only crucial financial assistance, but also invaluable knowledge and guidance. The workshop and mentorship have equipped us with the skills and confidence to navigate the complexities of entrepreneurship, particularly in the areas of bookkeeping, planning, cash management, and understanding our business. We learned the importance of meticulously tracking every sale and expense, something that was previously a daunting task. Now, we have a clear understanding of our financial health and can make informed decisions about investments in new inventory, marketing campaigns, and expanding our services and products.”

 

Gabriel Casey is now able to expand his Pixel Pro Media business through the assistance provided.

 

Gabriel Casey, Small Entrepreneur

“Pixel Pro Media began as a vision to provide digital solutions to businesses in Belize and beyond. Over the years, we’ve worked on projects that include SaaS platforms, and SaaS platforms are simply software as a service. We have over 25, 000 active members on our platforms. and web and mobile app development, branding and training programs. However, when I learned about BEAP, I realized it could be the key to propelling our growth to new heights. Through BEEP, I gained much more than just financial support. The program offered critical training sessions that were very important, that helped me refine my business model, solidify my goals, and tackle my challenges with confidence. For example, the development of our LMS, our learning management system, integrated with gamification and AR and VR modules and certification became our most ambitious projects.”

 

Nancy Marin received assistance for her ostrich farm in the Cayo District.

 

Nancy Marin, Small Entrepreneur

“We had to send in a full business proposal, attend, I think it was three or four different training sessions, and then, do a pitch in front of a panel from BELTRAIDE, I think, Ministry of Finance, DFC.”

 

Marion Ali

“ Could you share with us what the money will be used for?”

 

Nancy Marin

 ”The money will be used for an incubation center for us to be able to produce more ostriches, for us to be able to produce more ostriches, that way we can get more oil from the ostriches and produce more cosmetics. We have interest to export in Ireland and in Seattle, so there’s a big push now that it’s a laying season for ostriches. There’s a big push to be able to produce more oils.”

 

Narda Garcia, CEO in the PM’s Office, commended the awardees for their resilience and determination to succeed. She emphasized that investing in their businesses is truly an investment in the future.

 

Narda Garcia, C.E.O., Office of the Prime Minister

“Each of our awardees has demonstrated exceptional dedication, creativity and perseverance in their respective fields. They have faced challenges head-on and through their hard work and determination, they have not only uplifted themselves but also inspired those around them. The Belize Enterprise Empowerment Project is more than just a funding initiative. It is a catalyst for transformation. It embodies our collective belief that when we invest in individuals, we invest in the future of our communities. By providing resources along with training and support we are enabling our entrepreneurs to turn their visions into reality, create jobs and contribute to the economic vitality of Belize.”

 

Many of the awarded businesses are led by women, a fact that both Quiroz and Garcia celebrated as remarkable. The funding amounts range from five thousand to twenty thousand dollars, and the progress of these recipients and their businesses will be closely monitored for success. Marion Ali for News Five.