Encouraging Entrepreneurship Initiatives
Development of small and medium-sized businesses is one of the ways to boost employment and increase economic efficiency. In order to improve business climate and create conditions for a meaningful growth of the business sector, Belarus’ government is improving the legal framework of business relations.
After Presidential Ordinance No. 7 “On development of entrepreneurship” was passed on 23 November 2017, a lot has been done to encourage the entrepreneurial activity and boost the entrepreneurial spirit. A number of regulatory legal acts were amended and a large-scale process was initiated to improve business environment in the country.
People's interest in self-fulfillment through entrepreneurship significantly increased, which translated into a greater number of businesses, individual entrepreneurs and legal entities.
On 9 October 2017 Belarusian President Aleksandr Lukashenko signed Decree No. 364 on craft activity regulations for natural persons, which expands the list of types of craft activity in Belarus. The document was aimed at developing entrepreneurship and stimulating business activities in the republic.
One of the most significant changes was the expansion of field implementation of the craftsmen-made products.
On 14 October 2022 Aleksandr Lukashenko signed Law No. 213-З “On licensing”. The law regulates the entire licensing sphere in a systemic and comprehensive manner. The law provides for a transition to digital licensing by means of creating a unified digital registry of licenses.
The law helped reduce the administrative burden of commercial entities.
All these measures made it possible to create a new business landscape based on business relations and mutual trust between the state and business. It also made it easier to launch and run a new business. The overall business climate has become more favorable. Comprehensive measures have a positive impact on the business environment.