Belizean Businesses Losing Money
Report 20% Decline in Revenues On Monday night on Love FM during the Chamber of Commerce’s weekly show called The Business Perspective, guests revealed that the productive and commercial sectors were losing about 20 percent of revenues across the board. This show, which was titled the “Business Round Table (weh we di feel),” featured the host and her 3 guests, who were all prominent Belizean Businessmen from the productive and commerce sectors in Belize. During the discussion the panel stated that the recession, which is now in full swing, is really having a serious effect on the ability of the business owners to keep operating at a profit. With inflation on the rise and consumer spending on the decline, businesses are finding it more difficult to access affordable credit or to properly manage their cash flow. In some cases, businesses have drastically slashed orders because of the fear that people will not be in a position to start spending anytime soon. In addition, some businesses are struggling to remain open. In fact in the Corozal Free Zone, where the losses have been significant, a number of businesses have already closed down, and some people are speculating that a number of companies will only remain open until the end of the Christmas Season and then will be forced to close doors. In Belize City, prominent and well established businesses have suffered under the impact of this recession. Last week the Belize Photolab closed down and already it has been announced that the Belize Glass Shop will be pulling down its shutters permanently in a few week’s times. In the meantime, many of the businesses plan to weather the storm as long as possible by layoffs and cutback in staffing hours. On the Chamber of Commerce Show one of the panellists commented that he was doing everything possible to try not to lay off workers, ...






