Belarus is committed to further building up the capacities of small and medium-sized enterprises, Belarusian First Deputy Economy Minister Ivan Vezhnovets said during the panel discussion “State-Business Cooperation as a Driver of Development" at the Forum of Businesswomen of the Union State of Belarus and Russia in Minsk on 21 May, BelTA has learned.
“We are ready to share our experience in supporting entrepreneurship and to implement successful practices in our own country. It is extremely important for us that the mechanisms we establish are accessible to any proactive individual, regardless of age, gender, place of residence, or type of activity,” Ivan Vezhnovets emphasized.
In Belarus, entrepreneurs are provided with subsidies to start their own business. Grants and partial cost compensation are also available. The Economy Ministry is working to reduce the administrative burden and to amend legislation.
According to Ivan Vezhnovets, small and medium-sized business is gaining momentum and making a significant contribution to the key indicators of social and economic development. The number of jobs in this sector has approached 1.5 million accounting for more than a third of total employment.
Small and medium-sized business accounts for a fifth of industrial production, nearly 30% of retail, and 46% of foreign trade in goods.
These achievements have been made possible largely through a number of programs. The key among them is the state program “Small and Medium-Sized Entrepreneurship” until 2025, under which more than 8,000 projects received financial support annually. The objectives for the new five-year period are outlined in the state program “Sustainable Entrepreneurship” for 2026-2030. This program is built upon the principle that “even a small company can become a large enterprise.” The tools include targeted state financial support, special credit products, and support through a dedicated digital platform.
Plans are in place to transform the support infrastructure network for small and medium-sized enterprises, to establish a central entrepreneurship development center based on the Belarusian Fund for Financial Support of Entrepreneurs.
Emphasis is placed on the speed and efficiency of resolving legal and financial issues for start-up businesses and creating stable, competitive, and predictable “rules of the game.”
