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Opinions & Interviews

17 Nov 2017

Kalinin: SMEs in Belarus have big potential for further growth

Kalinin: SMEs in Belarus have big potential for further growth

MINSK, 17 November (BelTA) – Small and medium-sized enterprises in Belarus have a considerable potential for further growth, Belarus’ Deputy Prime Minister Anatoly Kalinin said at the ceremony to award the winners of the national contest Entrepreneur of the Year on 17 November, BelTA has learned.

"Today, small and medium-sized businesses form a quarter of the gross domestic product. SMEs account for one-third of the total number employed in the national economy and almost a quarter of exports. This is certainly a lot, but I believe that there is a considerable potential for growth. Small and medium-sized companies, due to their mobility and flexibility, can improve the processes in the employment sector, create new points of economic growth. The government is interested in further development of the sector and the creation of favorable conditions for business environment,” said Anatoly Kalinin.

According to the vice premier, the country is busy with gradual reduction of administrative barriers, facilitating access to financing, and introducing special tax regimes. “This year we are making another step towards wide liberalization of business activities, simplifying administrative procedures, reducing costs for starting a business, and the volume of mandatory requirements, sanitary, environmental and technical standards. The government will continue promoting entrepreneurship in every possible way, implementing new forms and mechanisms of interaction between the state and business, supporting new proposals and ideas,” Anatoly Kalinin said.

The national contest Entrepreneur of the Year was first announced in 2016. In fact, it is a brand new format of the Best Entrepreneur competition held annually from 1997 to 2013.

The Entrepreneur of the Year 2017 contest included four categories: Successful Start, Stable Success, Effective Business in Production, Effective Business in Services.


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