Getting To Understand Businesses In Belize

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.

The country remains a major tourist destination in Central America thus are huge investments in the catering industry. There are many hotels and resorts, homes and villas and hostels, all offering various forms of accommodation. In San Pedro, there are many hotels and resorts located along the beach offering great professional services and an opportunity to view the best scenery the country has to offer.

The agricultural sector also has great potential with regard to creating business opportunities. The large tracts of land available have been used for the production of rice, bananas and even citrus fruits. Papaya and chocolate have been exported to foreign markets such as the US. Nevertheless, most of these products are largely consumed locally. The Mata Grande is a major retail center where tourists who visit country can find these products. Still, the agricultural sector possesses huge potential for growth since there is so much land that is idle.

There are also other emerging and rapidly growing industries such as the entertainment and call centre industries which offer a great opportunity for investment.

Business enterprises have also been established in the transport sector. The novel brothers own of the largest transport companies in Belize City offering transport services in major districts of the country. The company remains the major monopoly in Belizean transportation. Other small companies that are owned by small investors operate in other routes of the country.

The area of telecommunication is controlled by two companies. Belize Telemedia dominates the communication sector with the government being the largest share holder. The company employs more than five hundred Belizeans. Speednet communications limited has also been a major player in telecommunication industry since its inception in 2003.

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.

Belize has four local and four international banks. The two major banks are the central bank of Belize and the Belize bank(which recently changed its name to British Caribbean bank due to expanding business in the Caribbean). These institutions have been greatly involved in the provision of credit facilities such as bank overdrafts, lines of credit and loans especially to business.

At about ninety percent, small and micro businesses account for most business enterprises found here. Most of these business enterprises belong to members of the same family. Other business enterprises, especially those in the tourism industry are run and managed by non citizens.

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