The Inter-American Investment Corporation and BELTRAIDE today launched
the FINPYME program for small and medium enterprises. They aren’t handing
out free money – at least not initially - but BELTRAIDE says the program
will offer business owners something just as valuable – free advice on
how to grow their businesses and become more competitive. The Inter-American
Association’s Senior Trust Fund Officer Michael Apel explained how it
will work.
Michael Apel, Senior Trust Fund Officer – IIC
“It is not a financing program but it is a program to help companies
identify strengths and weaknesses and improve themselves for the long term.
We go, we look at a company from A to Z. We look at its financial situation,
its management, its competition, its strategy going forward, and we present
a report to the company where we show the company where they are doing well
and where they are doing poorly.”
Lejia Melanie Gideon, BELTRAIDE
“The opportunity is to have a comprehensive diagnostic of your enterprise,
having trained experts come in and look at your enterprise, your operations,
your procedures, and do an analytical review of what’s working, what’s
not working and most important – providing recommendations all in the
premise of improving your competitiveness.”
Sarah Hobbs, Dir. Retail Banking – Scotia Bank
“I feel the FINPYME program has a lot of advantages that small and
medium enterprises can take advantage of through the diagnostic process of understanding
what your businesses key strengths are, where there are opportunities for you
improve, and then understanding how to move your company to that next level.
That technical advice, which is usually difficult to get sometimes locally,
is something that the IIC comes in, especially at these challenging times, and
provides. And I think that technical advice coupled with any sort of financing
opportunity is a perfect compliment for success.”
Lejia Melanie Gideon,
“The criteria would be for a Belizean enterprise, it would be making
over $150,000 and being able to be comfortable to have an expert go into your
business and look and really bond with the entrepreneur and the business to
get proper feedback, a proper competitiveness report.”
The diagnostic review only takes 40 hours – 16 of which will
be onsite. Following the diagnostic review – businesses will be eligible
for technical assistance. Belizean companies interested in joining the program
must register with BELTRAIDE.
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