Draft State Program “Small and Medium Entrepreneurship” for 2021-2025 is under discussion

The Ministry of Economy of the Republic of Belarus has prepared a draft resolution of the Council of Ministers of the Republic of Belarus “On the State Program “Small and Medium Entrepreneurship” for 2021-2025”. You get acquainted with the draft State Program here.

The State Program “Small and Medium Entrepreneurship” for 2021-2025 is a key document in the sphere of support for small and medium entrepreneurship and is aimed at creating favorable regulatory conditions for the dynamic development of this economy sector, providing services to its participants, improving the infrastructure efficiency for supporting entrepreneurship and popularizing entrepreneurship.

The main objectives of the State Program are: to create a competitive and adaptive business sector; to qualitatively develop small and medium business, to stimulate small and medium businesses entering foreign markets. To achieve these goals, it is necessary to stimulate business initiative, improve the business environment and strengthen the potential of small businesses. It is also planned to actively develop microfinancing and crowdfunding, and to stimulate women’s entrepreneurship.

The development of small and medium enterprises is an important contribution to achieving Sustainable Development Goals 5 “Gender Equality”, 8 “Decent Work and Economic Growth”, 9 “Industrialization, Innovation and Infrastructure” and 10 “Reducing Inequality”. In particular, one of the objectives of Goal 8 is to promote development-oriented policies that increase productivity, create decent jobs, entrepreneurship, creativity and innovation, and develop micro, small and medium-sized enterprises, including through access to financial services.

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