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SMEs in Belarus generate roughly 43% of goods exports and almost 60% of services exports

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MINSK, 15 April (BelTA) – Small and medium-sized businesses in Belarus account for about 43% of goods exports and nearly 60% of services exports, Economy Minister Yuri Chebotar said at a meeting of the standing interdepartmental commission, BelTA learned from the press service of the Economy Ministry.

The participants of the meeting reviewed progress reports on the implementation of state programs for 2021-2025: “Small and Medium-Sized Entrepreneurship”, “High-Tech and Equipment”, “Scientific and Innovative Activities of the National Academy of Sciences of Belarus”, “Development of Military Towns”, and “Physical Culture and Sport”. The meeting was attended by representatives of the Economy Ministry, the Defense Ministry, the Ministry of Sports and Tourism, the National Academy of Sciences of Belarus, regional executive committees, and the Minsk City Executive Committee.

Speaking about the effectiveness of the state program “Small and Medium-Sized Entrepreneurship”, for which the Economy Ministry is the responsible contractor, Yuri Chebotar pointed to significant quantitative and qualitative changes in the SME sector. “Small and medium-sized businesses today generate over 30% of gross value added, a fifth of industrial output, roughly 43% of goods exports and nearly 60% of services exports, as well as more than a third of all jobs. The structure of the SME sector has also changed noticeably: whereas small business used to be mainly associated with trade, the focus has now shifted to creating added value in areas such as construction, transport, and the production of new types of products,” he said.

This transformation has been facilitated, among other things, by simplified access to state financial support. “Over the past five years, the total amount of such support has reached nearly Br65 billion. More than 6,000 business ideas received financing on favorable terms, with priority given to import-substituting and export-oriented projects. The results achieved confirm the effectiveness of the chosen course and show that small and medium-sized businesses are becoming one of the drivers of the country’s economic growth,” the minister noted. 

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