Can Belize Make It Easier for Small Businesses to Grow?

Belize is adjusting its investment incentives to better accommodate local businesses while working to address administrative delays and other challenges affecting the country’s investment climate.

Lincoln Blake, Director of the Investment Policy and Compliance Unit under the Ministry of Investment, told News 5 that recent amendments to the Fiscal Incentives Act are intended to make investment incentives more accessible to micro, small and medium-sized enterprises (MSMEs).

“One is to grant them specific incentives and also to streamline their requirements and to not treat them as regular applicants for larger investments,” Blake explained.

He said the Government’s investment strategy considers local businesses alongside foreign direct investment, noting that MSMEs play an important role in employment and economic development.

“They generate innovation, they generate over half of the employment, and they are the ones that actually grow. That’s where you find the emerging sectors,” Blake said.

The Ministry is also working to simplify procedures for micro-enterprises, which Blake said require a different approach from larger businesses applying for investment incentives.

A recent United States Department of State assessment identified concerns including bureaucratic delays, difficulties obtaining land titles and transparency in government processes.

Blake acknowledged that Belize continues to face structural challenges but said the Government is implementing reforms to improve the business environment.

“We have been doing a very aggressive digitisation programme which will help with transparency, not only with policy, but also with procedures and whatever type of applications you may have, and also turnaround time,” he said.

Despite the challenges, Blake said Belize continues to attract foreign investment. Central Bank figures he cited show that foreign direct investment totalled $364 million in 2025, while inflows reached $201 million between January and June 2026, compared with $175 million during the same period in 2025.

Blake described the US report as a “mixed review”, acknowledging Belize’s economic growth alongside the obstacles investors continue to face.

US Report: What Washington Thinks of Belize’s Investment Climate