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02 May 2024, 17:36

Entrepreneurship reform to affect about 40,000 self-employed Belarusians

MINSK, 2 May (BelTA) – The matter of reformation of entrepreneurship activities will affect about 40,000 self-employed Belarusians, BelTA learned from Belarusian Deputy Economy Minister Vladimir Naumovich.

Vladimir Naumovich said: “Due to the adoption of the law on reforming entrepreneurship activities a number of novelties will be introduced once the main norms of the law come into effect. The regulations specified by the law affect income-generating activities, social and labor relations as well as finance. The law will determine new categories. Commercial entities will be classified as small and medium businesses that employ up to 250 people.”

In his words, a government resolution will be passed by 1 July to specify a list of entrepreneurship activities the commercial entities will be able to pursue. “All proposals of government agencies and municipal authorities concerning the kinds of income-generating activities self-employed Belarusians will be able to do will be discussed on 8 May. These lists will be published by the national legislation registry website on 15 May for the sake of public discussions and finalizing the lists,” the deputy economy minister said.

He added that the new regulations will affect about 40,000 self-employed Belarusians according to the Economy Ministry estimates.

“The law will provide for a seamless transition from a self-employed businessperson to a legal person while preserving all the existing rights and obligations. The law also reflects new forms of support for entrepreneurs in the form of transfers and other mechanisms,” Vladimir Naumovich pointed out.

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