Business ideas for small businesses in Belarus – what to choose?

To start your own business, you need to make a plan and divide the process into stages. There are three fundamental steps for any business.

Stage 1. The basis of any business is an idea. It will define the field of activity for the enterprise and will be the main goal for all employees, which will unite them into one team. The main criterion for an idea is that it must be real and feasible in real-life conditions. To implement it, it is necessary to create a project in which all stages from the creation of an enterprise to its launch on the market will be described in detail.

Stage 2. The next step after developing a business plan will be the creation of a business logistics strategy. Here the entrepreneur needs to answer three questions: How? Where? When? The target markets to which the business will be directed will partly determine its placement. Here an important issue will be the distance from the resources to the enterprise and from it to the sales markets.

Stage 3. After a detailed development of a business plan and solving logistics issues, you need to find start-up capital for your business. Here it is worth looking for investors who will agree to invest their money in a new project. It is best to look for investors in a similar or related field of activity of the enterprise being created. Also, an actual resource for obtaining start-up capital is participation in startup competitions. A good project has every chance of winning a grant in such a competition.

Top 10 Ideas for Starting and Growing a Small Business

The areas of services and goods for which there is a great demand today are the following:

• Provision of consulting services.
• Organization of cargo transportation.
• Repair service (cars, equipment, etc.).
• Development of IT products .
• Provision of design, services, sale of any products for construction, etc.
• Service stations and car washes.
• Sports services (opening a gym, providing personal trainer services, etc.).

Business culture of Belarus

Belarus is a country in which the state contributes in every possible way to the development of its own small business. The main task for a young entrepreneur in this country is to establish relations with government agencies and conduct active negotiations with them. Also, the government of this region is now actively trying to promote the development of business trade relations with foreign countries.

In order for negotiations with the founders of the state to be successful, they need to offer a quality product. You need to be patient, as negotiations may take longer than expected. But this will indicate interest in your project.

It is beneficial to develop your own business in the field of agriculture or trade in goods produced in the country itself. Locally produced products are in great demand not only among local residents but also abroad.

What are the advantages and disadvantages of starting your own business in Belarus

The country is considered attractive for starting a business. The main advantages of this region are:

• high investment attractiveness;
• favorable geographical location;
• high level of industrial development in the country;
• the availability of skilled labor;
• The economic situation in the country is relatively stable.

The disadvantages of starting your own business are as follows:

• unfavorable interest rates on loans;
• problems in the development of the financial market;
• presence of corruption;
• high tax rates;
• relative equality of enterprises.

Immigration to Belarus

There are several ways to immigrate to Belarus. The first and simplest of them is obtaining Belarusian citizenship legally. To do this, you must present a document that confirms the date of birth in the Republic of Belarus before 1991, as well as the presence of a passport of a citizen of the Socialist Republic before the collapse of the USSR. Also, the presence of family ties allows you to apply for Belarusian citizenship.

Students who are representatives of scarce specialties have the right to obtain citizenship over time.

If a foreign entrepreneur invests more than 150 thousand euros in business in the country, then he has the right to obtain a residence permit and, in the future, citizenship. This state welcomes foreign investment. Agriculture in this region is one of the most promising areas for investment.

How to register a business?

The country has two types of substantive forms for starting your own business:

• IP;
• entity.

It is not difficult to open individual entrepreneurship, for this, you do not have to provide yourself with your own premises. The owner of such a business is solely responsible for the material and financial part of the enterprise. The decision to liquidate this form of commercial activity is also taken by the entrepreneur.

Registration of a legal entity allows you to open a business for several individuals or legal entities (partners) at once. It will be more difficult and expensive to register such a form. To do this, it is necessary to provide the relevant registration authorities with information about:

• availability of premises to indicate the legal address in the registration documents;
• availability of staff;
• having an accountant.

Such an organization can liquidate its activities as a result of its bankruptcy.

To register your business, you must submit certain documents to the registration department or in electronic form. To submit documents online, you must have an individual electronic signature. The package of documents for submission is as follows:

• completed application;
• a receipt indicating the payment of the fee;
• documents confirming the identity of the applicant and his photograph.

The act of registration of the enterprise can be obtained the next day, after the submission of documents. But in Minsk, this happens immediately after they are submitted.

Further, it is necessary to acquire a seal and, if the business is aimed at trading activities, it must be registered in the commercial register.

Forms of business in Belarus

A limited liability company creates an authorized fund, which is divided into shares, which are indicated in the constituent documents. The enterprise does not issue shares under this form of organization. The legislation of the Republic of Belarus establishes the required minimum size of the authorized capital for such an enterprise.

An additional liability company has in its charter a specified amount of additional capital (property), which ensures the shortage of property to fulfill the obligations of the enterprise.

A closed joint-stock company has an authorized capital, which is divided into a certain number of shares. Shareholders are liable only to the extent of their property. Shareholders may not sell or transfer ownership of their shares. This can be done within the framework of a closed circle of persons, which is determined by the charter. An open joint-stock company provides for the possibility of selling its shares to an unlimited number of individuals.

A private unitary enterprise is a form of organization in which the enterprise does not have ownership of property. It cannot be distributed among the employees of the company. Such an enterprise can be registered in a residential area.

A production cooperative is an organization whose activity is based on united share plots, and the founders of this organization are liable in equal shares.

Small business taxes in Belarus: how to start a business from scratch and not go bust

In this region, entrepreneurs pay 20% VAT and 18% net income tax. Taxes are also paid on certain types of activities and real estate.

In the Republic of Belarus, some types of activities provide for the payment of a single tax. For example, this category includes organizations that provide hairdressing services, clean rooms, transport goods, and much more. In Art. 296 of the Tax Code of the Republic of Belarus, you can learn more about all types of activities that are subject to a single tax. For activities that are not mentioned in this article, the business owner can independently choose the system of taxation. In order to pay taxes under the simplified system, you must submit an application to the IMTS in accordance with the place of registration. Such an operation can be carried out within 20 days after the registration of the enterprise.

Business in Belarus for foreigners

Belarus is a country that has a high investment attractiveness. The amount of foreign investment in business in this region is growing every year. The country is located on important economic routes.

A foreign citizen who does not have a residence permit has the right to engage in commercial activities exclusively as a natural person. In order for a foreigner, for example, a Russian, to open a business in Russia, he needs to:

• submit an appropriate application;
• pay the state fee;
• submit a copy of the passport, 2 copies of the signed company charter, as well as its electronic version in doc format;
• start your own seal;
• open a bank account;
• license for certain types of activities.

Niche choice: what kind of business to open in Belarus

Some of the most popular types of commercial activities in this region are:

• baking business;
• food industry:
• textiles and clothing production;
• sales.

What do you need a license for

In Belarus, there are certain areas of activity for which you need to obtain a license. These organizations include:

• pawnshop ;
• an organization that provides legal services;
• a company that provides taxi services.

After reviewing the Decree of the President of the Republic of Belarus No. 450 of 09/01/2010, you can find out the full list of activities for which you need to obtain a license.

How to sell and buy a business in Belarus

In this country, there are a number of brokerage firms that organize the process of selling and buying a business. An example of such an organization is the Internet company Bizshop.by.

In order to sell your business in Belarus, you can:

• place an application on the official website of the company that implements and supports such a process;
• conclude a sales contract with this organization;
• provide accounting and legal support in resolving all issues.

A similar procedure is carried out when buying a business. On the same portals, you can choose a suitable project that you can buy and make a deal with brokers and sellers.

State support for entrepreneurship

In this country, a state program has been developed to support small and medium-sized businesses for the period 2016-2020. The Fund for Financial Support of Entrepreneurs operates as follows;

• provide entrepreneurs with returnable and gratuitous financial assistance;
• provides guarantees for preferential loans;
• provides property on a lease basis.

But, before signing the contract, be sure to consult with lawyers and an accountant. It is necessary to carefully calculate, draw up a financial plan, and only then start processing a loan or leasing.