Poverty In Poverty

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Starting a business and obtaining a job are often seen as solutions to addressing one of the most predominant socioeconomic challenges, poverty (International Labor Organization, 2014). Poverty affects approximately 1 billion individuals with rates exceeding 40% in small developing countries like that of Belize (World Bank, 2011). Living in an increasing globalized world allows Multinational Corporations (MNCs) to establish chains across the globe, creating employment for hundreds of thousands of individuals; however, there is a(n) [perception of] imbalance of benefits, resulting in inequality. This reiterates the importance of developing solutions that are inclusive and sustainable to address these socioeconomic challenges.
Belize, a small developing country, located in both Central America and the Caribbean is heavily reliant on the tourism sector resulting in seasonal employment. This highlights the importance of stimulating economic growth through private sector development and inclusive growth on the local level. The country is ranked as 118 out of 189 countries in the Ease of Doing Business (World Bank, 2015). Specifically, access to credit is a major problem to small businesses. Dominated by large commercial banks that demand collateral accompanied by relatively high-interest rates often deters private sector establishment and expansion, especially for Micro, Small, and Medium-Sized Enterprises (MSMEs).
The availability of resources has been a major

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