Small Business

The business sector in the Republic of Belarus is a promisingly developing sector of the economy, gradually increasing its contribution to overall economic growth. This largely contributes to the formation of a competitive environment, helps to increase the production of consumer goods, and also significantly expands the range of services provided to the population, which generally gives additional stability to the Belarusian economy. In the business environment, the most numerous are medium and small enterprises. Their distribution by region is characterized by a fairly high degree of concentration in the capital and large cities. The predominant specialization of these enterprises is the sphere of trade. However, in recent years the share of their industrial production volume has been steadily increasing in relation to the national indicator. 

The development of the business environment in our country is one of the national economic priorities. Actions taken by the state are aimed at improving the business environment and helping Belarus become one of the countries with the most favorable conditions for doing business. In order to increase its contribution to the country's socio-economic achievements, the main tasks and principles for improving government regulation and support for the small and medium-sized business sector are outlined. The State Program “Small and Medium Enterprises” for 2021–2025 is aimed at creating a favorable business environment for entrepreneurship, stimulating the initiative and entrepreneurship of citizens. During its development, the continuity of the tasks and directions of development and support for small and medium-sized businesses of the previous five years was ensured. The country has an infrastructure of state support and regulation of entrepreneurship, which includes business support centers and small business incubators. A number of norms aimed at simplifying the requirements and conditions for carrying out licensed types of activities and improving the procedure for terminating licenses are contained in Decree signed by the Head of State on September 2, 2019 No. 326 “On improving licensing.” 

A positive aspect for the growth of commercial activity is taxation and lending on preferential terms. For aspiring entrepreneurs who have truly meaningful and serious business ideas, the state provides affordable loans with low interest rates and long repayment terms. Thus, each of the Belarusian citizens or foreigners with a residence permit has a chance, subject to the optimal combination of desire and financial capabilities, to open and successfully manage their own business in Belarus. 

The comprehensive measures taken made it possible to create an atmosphere of a new business climate based on business relations and mutual trust between the state and business, simplifying not only the opening process, but also the conditions for doing business.

Links to the Internet-resources

Minsk City Union of Entrepreneurs and Employers

Pro Business

Republican Confederation of Entrepreneurship