Do you have any belly fat? If you do that makes you have lower Testosterone and higher Estrogen levels. Not good for growing beards. Cardio excercises will take care of that. At the same time do not underestimate the power of strengh training. This will really boost levels of testosterone and eliminate belly fat. Try and get as many calories from protein as possible instead of Fats or Carbs.
Also there is a direct correlation to beard growth and hair loss. Of course there are always exceptions. My grandfather had a full beard and a full head of hair. Beards continue to fill in for most of your life so you still have some hope. I used to have to shave when i was in high school regulary. Had a real nice beard back then but now I am light years beyond that level of growth.
One more thing, beards are really great to have in the winter but I prefer to go beardless during summer months. Fall and Spring I stick with Mutton Chops.