For months - we've been telling you all about Micro, Small and Medium Enterprises - or MSME's as they are called.
Throughout the developing world - efforts are being made to grow these enterprises because they are seen as the building blocks of economic growth.
Today, a great leap forward was made the opening of the Small Business Development Center.
The center is located at the University of Belize Faculty of Business in West Landivar.
It's open - but the formal opening could not be held there - because like the businesses it hopes to serve - the center is….shall we say, micro.
But it's got a mighty big job to do and the Deputy Executive Director of Beltraide who is spearheading the effort told us if you think your business qualifies, you should come in:
Lejia Melonie Gideon - Deputy Executive Director, BELTRAIDE
"How do you get this assistance? You walk into the center, simple as that. You walk in and you bring your need, and we'll work with you from there. If you have an idea, visit us at the West Landivar campus."
Jules Vasquez
"Any sort of idea?"
Lejia Melonie Gideon
"You bring your idea, and we'll sit you down and tell you, 1, it's not a good idea, we'll tell you right now, 2, if you think of it this way, probably, it will work out better this way. So, we're going to give you honest advice, and not just string you along because our resources are tight as well."
Jules Vasquez
"Is it okay if the idea is a microcosmic as selling wangla or fudge?"
Lejia Melonie Gideon
"Yes, at the end of the day, I want you to understand, it is for economic impact. Economic impact means that if you are self-employed, and you are not relying on any other resource, that you didn't produce yourself, that is something good for the economy, at the end of the day. So, it's micro, small and medium enterprises we're dealing with. What is micro? 1 to 4 employees, if I want to break it down. What is small? 5 -10-"
Jules Vasquez
"This numbers represent what?"
Lejia Melonie Gideon
"They represent employees. The majority of enterprises in any country tend to run a percentage of 80-95%. So, if you have 80-95% of your enterprises being small micro, small and medium, they will, by definition, be your major employer, and the backbone of your economy. So, in lay-man's terms, is the skeleton, the infrastructure that makes the economy go around."
Nathalie Goff - General Manager, Development Finance Corporation
"If this center is successful, you have less business failures. It's all well and good to form a business, but it's to be able to sustain that business, and make it thriving."
Hon. Patrick Faber - Minister of Education, Youth and Sports
"It addresses a concern that I have long had about our Belizean society. And I believe that if we improved on this particular concern, that Belize can be a much better place. Speaking about 2 things, planning and preparation are some things that we don't do very well at in this country."
Nathalie Goff
"Let it not be another white elephant that is lauded today, and dormant tomorrow. If, in another year or 2, we have less business failures because of the employment of best practices, or that there is easier access to capital for small business development and expansion, then SBDC Belize would have served its purpose."
You can call the center at 223-3195.
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