invest atlas

State support of business

State support of business

Small business represents a promising sector of the economy, gradually increasing its contribution to ensuring the overall economic growth.

Sustainable business development requires the creation of favorable external conditions for its functioning. The strategic policy of its development implies the implementation of measures to support it.

Within the framework of the State Program "Small and Medium-sized Entrepreneurship in the Republic of Belarus for 2016-2020" (hereinafter - the Program), in the realization of investment projects entities of small business are provided with state financial support in the following areas:

  • Creation, development and expansion of production of goods (works, services);
  • Organization, development of production, sale of export-oriented, import-substituting products;
  • Production of products aimed at energy and resource saving;
  • Introduction of new technologies.

In 2017, in the budget of Minsk 4,860,000.00 rubles is provided for the implementation of the Program's activities, including 4,000,000.0 rubles for the purpose of granting preferential bank loans to small business entities.

Within the framework of the Program there are several mechanisms of state financial support for small business entities:

  • Provision of soft loans;
  • Granting a subsidy to reimburse part of interest for using bank loans;
  • Granting a subsidy to reimburse part of the costs associated with participation in exhibitions and fairs.

The Minsk City Executive Committee takes the necessary measures to identify unused and inefficiently used areas of industrial enterprises, as well as to determine the reserves that make it possible to increase the investment attractiveness of Minsk.

In order to increase the efficiency of the use of buildings, structures and non-residential premises that are in the communal ownership of Minsk, an information resource (button) "Squares for business" (posted on the official website of the Minsk City Executive Committee) was created. This resource contains information on unused premises and areas of communal and republican organizations located in Minsk, according to their functional purpose.

The strategic directive that defined the further vector of relations between the state and business has been the Directive of the President of the Republic of Belarus of December 31, 2010 No. 4 "On the development of entrepreneurial initiative and stimulation of business activity in the Republic of Belarus".

For the purpose of objective consideration and public discussion of draft normative legal acts on issues that may have a significant impact on the implementation of entrepreneurial activities, the city has created a public consultative (expert) council for the development of entrepreneurship under the Minsk City Executive Committee.

To date, there is a unified system for supporting entrepreneurship which has the following structure:

  • The Department of Entrepreneurship of the Ministry of Economy of the Republic of Belarus as the state body responsible for implementing the state policy on supporting entrepreneurship;
  • The Entrepreneurship Department of the Economy Committee of the Minsk City Executive Committee, business departments of the administrations of Minsk districts which are responsible for implementing the state policy at the regional level;
  • The Belarusian Fund for Financial Support of Entrepreneurship;
  • Entities of the infrastructure supporting small and medium-sized businesses;
  • Public associations of entrepreneurs.

The entire system of development of small and medium-sized businesses is built on the basis of comprehensive and active cooperation between the executive authorities of Minsk and the business community.