The two major business enterprises in Belize are tourism and agriculture. As a result, most people who carry out businesses in Belize are based around these two. The citizens of the country mainly work in the fishing and sugarcane sectors. In tourism, large companies are controlled by people who are non residents. Other sectors are not well developed and so this is a great opportunity for investors.
As a tourist destination, it attracts lots of tourists thus there are numerous investments in this particular sector.The tourism sector has been significantly boosted in recent days by the many tourist flocking the country.Most enterprises have invested in this line in a bid to cater for the growing demand.Resorts, villas and hostels have also been established to offer accommodation services. In San Pedro, along the beach, professional services are offered by lots of hotels and resorts.
The agricultural sector has provided numerous business opportunities. With so much land, the country produces crops such as citrus, rice and bananas. Papaya and chocolate have in recent days been exported to countries like the US. The greatest portion of this produce is however sold in the local market. Grocery stores such as the Rojo market and the Mata Grande Grocery are major retail centers for these products especially for tourist visiting the country. The agricultural sector though still holds so much more potential with vast pieces of land still remaining underutilized.
The entertainment industry and the call center sector are industries that are rapidly emerging. Because of the potential that they hold, they offer great opportunities for investors to invest in.
There are also businesses in the transport and logistics sector. One of the largest of these is owned by the novel brothers. Their business offers transport and commuter services in various districts. The other players in the transport industry are small enterprises that are also privately owned. They operate other routes around the country.
In the telecommunication sector, there are two dominant players: Belize Telemedia and Speednet communications limited. Telemedia, which is bigger, is an employer of hundreds of Belizeans. The government owns a part of it. Speednet has been operational since 2003, when it was formed.
Television and radio stations have attracted private investors, who have been instrumental in the development of the media. They show local programs, which help in developing the local film industry. Apart from that, they also air American and Caribbean produced shows. Other media businesses like newspapers are controlled by individual persons.
The financial sector is also quite stable with eight institutions. Four of these are local and the other four are international. The two main ones are the British Caribbean bank and the central bank of Belize. These institutions provide services such as loans, lines of credit and bank overdrafts. Such services are of importance to the businesses.
Most business enterprises are small and micro businesses and account for up to ninety percent of all the businesses in the country. In fact many businesses are owned by families or close relatives. It is a common phenomenon to see businesses, especially in tourist destinations, owned and under the management of non national couples. This has provided a great opportunity for small private investors such as retirees to venture into.
As a tourist destination, it attracts lots of tourists thus there are numerous investments in this particular sector.The tourism sector has been significantly boosted in recent days by the many tourist flocking the country.Most enterprises have invested in this line in a bid to cater for the growing demand.Resorts, villas and hostels have also been established to offer accommodation services. In San Pedro, along the beach, professional services are offered by lots of hotels and resorts.
The agricultural sector has provided numerous business opportunities. With so much land, the country produces crops such as citrus, rice and bananas. Papaya and chocolate have in recent days been exported to countries like the US. The greatest portion of this produce is however sold in the local market. Grocery stores such as the Rojo market and the Mata Grande Grocery are major retail centers for these products especially for tourist visiting the country. The agricultural sector though still holds so much more potential with vast pieces of land still remaining underutilized.
The entertainment industry and the call center sector are industries that are rapidly emerging. Because of the potential that they hold, they offer great opportunities for investors to invest in.
There are also businesses in the transport and logistics sector. One of the largest of these is owned by the novel brothers. Their business offers transport and commuter services in various districts. The other players in the transport industry are small enterprises that are also privately owned. They operate other routes around the country.
In the telecommunication sector, there are two dominant players: Belize Telemedia and Speednet communications limited. Telemedia, which is bigger, is an employer of hundreds of Belizeans. The government owns a part of it. Speednet has been operational since 2003, when it was formed.
Television and radio stations have attracted private investors, who have been instrumental in the development of the media. They show local programs, which help in developing the local film industry. Apart from that, they also air American and Caribbean produced shows. Other media businesses like newspapers are controlled by individual persons.
The financial sector is also quite stable with eight institutions. Four of these are local and the other four are international. The two main ones are the British Caribbean bank and the central bank of Belize. These institutions provide services such as loans, lines of credit and bank overdrafts. Such services are of importance to the businesses.
Most business enterprises are small and micro businesses and account for up to ninety percent of all the businesses in the country. In fact many businesses are owned by families or close relatives. It is a common phenomenon to see businesses, especially in tourist destinations, owned and under the management of non national couples. This has provided a great opportunity for small private investors such as retirees to venture into.
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