Entrepreneurship in Belarus
A country’s wealth is measured in terms of their Gross Domestic Product (GDP). Belarus’ GDP is only $116.7 billion, their Real Growth rate is 8%, and their GDP Per Capita is $12,000. Based on these figures, Belarus would be considered a “second world country” because it is a developing/emerging country.
In an effort to become an active participant in the marketplace, Belarus, which is located in Europe, is making great strides. The people of Belarus have realized that entrepreneurship is central to the functioning of market economies. The legal and economic principles of entrepreneurship are defined by the Law. Belarus had a period of slow growth in the area of entrepreneurship in the late fifties, but progress has been steady. As recently as the end of 2002, Belarus had a total of 26,800 entrepreneurial businesses. This was an increase of 1,445 businesses from the end of 2001. Belarus is creating programs that are supposed to help increase entrepreneurship in their country. Gosstandart is carrying on planned and purposeful work with individual entrepreneurs to become more efficient in product certification. They have realized that they must meet the standards placed on product certification if they are to be successful in their efforts to increase entrepreneurship. Also, education and training became part of Belarus’ plan to grow entrepreneurship. They observed a program that was being used by several schools, including some in Russia, on how to manage and determine the fundamentals of entrepreneurship. This allowed prospective entrepreneurs the opportunity to see the process and get involved by working on projects designed specifically for the schools.
Belarus also promotes entrepreneurship among women. Most women decide to become entrepreneurs because they are put in high ranking positions within companies, they work with their husbands who are entrepreneurs, or they are unhappy with their working conditions. After becoming entrepreneurs, they gain a level of independence that makes them want to succeed.
LAW OF THE REPUBLIC OF BELARUS "ON ENTREPRENEURSHIP IN THE REPUBLIC OF BELARUS"
Law on Entrepreneurship
Youth Entrepreneurship Support and Development Center
Development of Entrepreneurship in Belarus
UB School of Management to Develop MBA Program in Belarus
UNECE-WYB Joint Mission to Belarus to Assist in Development of Youth Entrepreneurship
Entrepreneurship in Former Soviet Republics
Creation of the Belarusian Financial Company