Entrepreneurship in Belize

1. Entrepreneurship in
Belize
by EMILIO ARMENTA
Image source: www.pixdaus.com

2. • Belize borders Guatemala
and Mexico
• Located along the
Caribbean Sea
• Belize is slightly smaller
than Massachusetts
• Total population 347,369
Country Background
Image Source: www.wikipedia.org

3. Country Background
• Originally part of the British Empire,
gained its independence in 1981.
• Now part of the Commonwealth
• Currency is US Dollar
• English is lingua franca

4. Entrepreneurial
Obstacles
• Ranks #118 in Doing Business for 2015
• DTF for starting business is 72.38
• Government is young, corruption and
mismanagement rampant
• Astronomical tariffs - tax reform necessary
to support doing business
Source Data: Doing Business http://www.doingbusiness.org/data/exploreeconomies/belize/
#paying-taxes

5. Entrepreneurial
Obstacles
• Labor costs among highest in Central
America
• Public utilities erratic, cost of gas/diesel v.
high
• Highest Internet costs in region
• Consumer goods expensive, limited option
compared to rest of Central America

6. Data Source: Global Competitiveness Report 2011-2012

7. Investment reforms are underway.
From an entrepreneurial perspective,
Belize is low hanging fruit.

8. Entrepreneurial
Opportunities
• Emerging market for oil,
tourism, agriculture sectors
and more
• Open to foreign investment
including private property
ownership
• Young country hungry for
investment and growth
Image Source: portalexport.wordpress.com

9. Imports > Exports
Belize has limited domestic
production of products and services
Basic goods are expensive. Market
is hungry for competition & local
production to drive down prices
across most sectors
Entrepreneurial Opportunities
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