Representatives of the Caribbean Local Economic Development Project (CARILED), along with The San Pedro Town Council (SPTC) held a presentation on Thursday, October 13th in regards to the local economic profile for the town of San Pedro. CARILED has been working closely with municipalities around Belize guiding them to develop economic strategic plans. The presentation held at the Mayor’s office presented a document that explains drivers of the economy on the island, as well the barriers that affect the growth of businesses in San Pedro Town.
Leading the presentation was CARILED Local Resource Consultant Keisha Rodriguez, who highlighted a detailed overview of the economic developments on the island. According to the findings from the survey done, the results serve as a guide how to break down the barriers that keep the micro, small and medium-sized (MSMEs) enterprises on the low. One of the results from the project was the creation of a document which details key pointers in order to achieve desired results concerning the local economy. The document will be ready for stakeholders to take a look and take advantage of its valuable information.
According to Rodriguez the economic sector of San Pedro is made up mainly of MSMEs which are the main generators of jobs and revenues for the island. “San Pedro is one of the fastest growing municipalities in the country; thus, we tend to have a lot of businesses sprouting everywhere. These new businesses should be assisted with this guidance so that they don’t shut down as soon as they open,” said Rodriguez.
The finding of the profile also revealed that San Pedro keeps growing at a rapid pace, with its population rapidly increasing. This supports the fact that a large chunk of its population lives in rentals and only about 30% have their own means of transportation. Many of the businesses expressed to be satisfied with the Town Board’s trade licenses fees, their support toward the development of their businesses and over 60% declared that getting financial accessibility for business ventures on the island is fairly easy.
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