Trends in the development of small and medium business in Belarus

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The dynamics of macroeconomic indicators of small and medium businesses in recent years shows the reduction of its role in the economy of Belarus. The survey of small and medium businesses demonstrates the deterioration of the economic state of enterprises. This is largely predetermined by falling incomes, which indicate the focus of small and medium businesses on the demand of households. Apart from the economic crisis the sector of small and medium enterprises is negatively impacted by the changes in the regulatory environment. Most companies focus on saving their business and optimising costs, including cuts on employees. These trends prove that small and medium businesses are not able to solve the problem of unemployment during the crisis which is caused by restructuring of state-owned enterprises. Therefore, the government should first create the environment conducive to the development of the private sector.

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Last updated 21.11.2016
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