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. This has already produced positive results.
One of the most important legal acts recently signed by the Head of State is Decree No. 326 “On improving licensing” of 2 September 2019. It is aimed at simplifying the requirements to licensed activities and improving the license termination procedure.
The Government of the Republic of Belarus has approved the strategy for the development of small and medium-sized enterprises for the period up to 2030. The strategy is called “Belarus is a country of successful entrepreneurship”. This strategy builds on the efforts to create favorable conditions for the development of a vibrant SME sector.
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.