Belize Enterprise

​Empowerment project

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BEEP Webinar to launch on April 11th, 2025

deadline for submissions:
​​
May 2nd, 2025

OBJECTIVES
The Belize Enterprise Empowerment Project (BEEP) seeks to provide access to financial resources and business leadership skills to 95 MSMEs in Belize throughout a 2-year period to establish and grow into thriving, consolidated businesses, ultimately generating new employment opportunities and driving economic growth throughout Belize
 
 
Sub-objectives:
  • To assist 35 Maturing MSMEs to develop their businesses into innovative and growing enterprises that can compete in domestic, regional, and international markets.
  • To support 35 Maturing MSMEs that are facing economic challenges due to high inflation caused by the COVID-19 pandemic and rising fuel prices, and other economic disruptions.
  • To support 35 Maturing MSMEs within the blue, green, and orange economy

BENEFITS
Main benefits will include the following:
  • Free Customized Business Training
  • Free Personalized business advising
  • $7,000 grants for 35 Maturing Businesses.

Target Groups
Maturing Enterprises: Operating for (3) years or more with slow but steady growth and have an innovative business model and ready to scale nationally.

ELIGIBILITY CRITERIA

Maturing Enterprise

  • The business is 100% Belizean Owned.
  • Age 18 or older.
  • Operating for 3 or more years.
  • The business has a well-defined customer base and has optimized processes and consistent income generation.
  • Value added potential, Innovation: Usage of new technology or existing technology, or simply innovates.
  • Environmental and social sustainability – Activities do not pose any negative externalities to the environment.
  • Businesses MUST fall within one of the following sectors: Aquaculture, Tourism, Renewable Energy, BPOs, Light Manufacturing, Agriculture and Agro-Processing, Information Technology and Communication Services, and the Creative Industry, particularly in:
    • Music
    • Performing Arts
    • Visual Arts
    • Crafts
    • Film and Media Production
    • Design and Fashion
    • Literature and Publishing
    • Cultural and Heritage Tourism
 
Important Notes:
  • This program focuses on supporting individual small businesses. Cooperatives and associations are not eligible to apply.
  • Financial need is a key consideration in the selection process. MSMEs demonstrating financial need will receive a strong preference. However, acceptance is not guaranteed.
  • All successful applicants will be required to register their business by the end of the project period.
  • Applicants must not have received grant funding from BELTRAIDE within the past three years to qualify.
Please note the following businesses are not eligible to receive funding under BEEP:
Category Ineligible Business Types
1. Personal & Service-Based Nail Technicians, Salons, Barber Shops
Massage Parlors, Tattoo Shops
Home Cleaning/Janitorial Services
Pet Grooming Services
2. Retail & Resale (Non-Value Added) Grocery Stores, Supermarkets, Convenience Stores
Buy & Sell Businesses (e.g., Amazon/Shein Resellers, Pawn Shops)
3. Entertainment & Hospitality Bars, Nightclubs, Chill Spots, Karaoke Lounges
Casinos
4. Financial & Real Estate Money Lending Services
Real Estate Agencies
Pawn Shops
5. Food Vendors & Bakers Street Food Vendors
Standard Bakers
6. Other Ineligible Types Vehicle Dealers
Printing & Copy Shops
Gyms
Construction
Multi-Level Marketing Businesses, Gambling, Lottery & Tobacco Shops

FUNDING Amounts

Category
Amount (BZD)
Maturing Enterprises
$7,000

What CAN BE fundED?

Target group must use funding for the following expenses:
 
  1. Advance prototypes and market validation efforts.
  2. Financing of Working Capital: Purchasing of raw material, product expansion, diversification of existing products and services based on changing market conditions
  3. Enhancement of product/service to penetrate new markets.
  4. Development of business infrastructure.
  5. Expenditures for the following validation activities:
    1. Promotion of the product/service within potential customers.
    2. Customer loyalty and retention; and
    3. Referral Strategies for growth of customer base.
  6. Investment in essential assets: machines, equipment (including IT technology) and tools for commercial validation.
  7. Development of a robust Minimum Viable Product (MVP) to gather customer feedback and refine the product/service.
  8. Outsourcing services for marketing, branding, graphic design, prototyping, packaging and labelling, testing, and so forth.
  9. Prototypes: materials and supplies, spaces, samples, certifications and permits required

What cannot be funded?

This list is for guidance only and is not exhaustive.
  • Expenditures incurred before the date of approval of the funding.
  • Payment of debts and taxes, except import taxes or environmental taxes.
  • Buying shares or other financial investments.
  • Any assets not directly related to the business.
  • Salaries for the entrepreneurial/ business team members and the staff.
  • Design, development, enhancement, or validation of business plans, sales plan, or financial plan.
  • Personal expenses for the team;  
​

Application Process

  1. Q&A Webinar on April 11th, 2025
  2. Complete application
  3. Selection of shortlisted applicants.
  4. BELTRAIDE will assign an advisor to shortlisted applicants.
  5. Shortlisted applicants participate in 4-day in-person business training to develop and submit business models, investment plans, and cash flow statements.
  6. Shortlisted applicants present business pitches to an Evaluation Panel to compete for the grant funding.
  7. The Evaluation Panel provides feedback to each entrepreneur, selects grant beneficiaries, and approves grant  disbursement.
  8. Seed Capital Ceremony
  9. Implementation of Funds 

MonitorinG & Evaluation

  • Develop a business model, investment plan, and cash flow statement.
  • Attend at least 85% of required training sessions.
  • Present a 2 minute Business Pitch to an evaluation panel.
  • Sign a grant agreement to commit funds directly to the business.
  • Attend Seed Capital Award Ceremony.
  • Submit progress and final reports with financial documentation (invoices/receipts).
  • Collaborate with advisors to assess business growth and project impact, including job creation, new products, market expansion, and revenue generation.
  • Formalization of the business at the end of the project if applicable