The Belarusian economy is founded on large state-owned enterprises. SMEs account for around a fifth of GDP, below the EU average, and it has been a challenge for small privatised companies to flourish. Initiatives have though been put in place to encourage innovation and support SMEs. EU funding, channelled through EU4Business, focuses on improving access to finance and foreign markets, building business skills and encouraging entrepreneurship.


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Success stories

Operating a successful media business in a small market is a major challenge, according to Lyudmila Chekina, CEO at TUT.BY , the leading online news portal in Belarus, which employs more than 50 editorial staff and is read by 42.9% of all Belarusian internet users. And in the case of media, success is not just measured on the balance sheet: independent media needs a sustainable business model to...
Ludmila Antonauskaya
Ludmila Antonauskaya is a perfect example of someone defying the stereotype that women and business cannot go together. She runs several companies, is one of the TOP 100 successful businesspeople in Belarus (No. 65, but the top woman on the list), and has raised two children. Her main business – a holding company called Polimaster – is among the world leaders in the field of equipment for...
Orange pipes for fibre optic connection ADSL users.
With funding from the European Union, the European Bank for Reconstruction and Development (EBRD) helped Mechatronics, a telematics producer from Belarus, to enhance the effectiveness of their business processes, optimise the organisational structure and increase labour productivity by 34% per year. The EBRD helped Mechatronics, a producer of equipment for fuel level and consumption control from...