Business ideas of Belarus for aspiring entrepreneurs

One of the most important questions not only for the average Belarusian, but also for an ordinary entrepreneur with a burning idea. If the dreaming about his business has not received an inheritance or won the lottery, then you have to find funds yourself. Where can young people and beginners be helped with finances? We sorted it out together with Belarusbank and the managing partner of the Innovation Consulting company Alexander Shust.

Alexander identifies several sources of funding for opening a new or developing an existing business that exist today. This:

  • personal savings;
  • loan from relatives or friends;
  • crowdfunding;
  • government support;
  • bank loans;
  • investments.

Further we will tell you more about everything.

Savings

- The easiest way is to stubbornly save 5-20% of your salary every month, whatever it may be. And sooner or later you will have the necessary capital, - Alexander explains. - The rate of accumulation, of course, depends on how much you earn and how much you spend. According to Parkinson's Law, the more a person earns, the more he spends. Moreover, the growth in costs is faster than the growth in earnings. Therefore, the main point to remember when choosing this method is discipline.

Of the advantages, the expert calls simplicity and the fact that these funds will not need to be returned later.

- In this case, even if you have losses, you will not owe anyone later, - he says. - The disadvantages are that savings can take quite a long time (it all depends on earnings and the amount required).

Loan from relatives or friends

The second simple way is to borrow from the environment - relatives or friends.

- The advantages of this method of receiving money are that you can borrow money quite quickly and in most cases you will not have to pay interest on it (cases when borrowing money is taken at minimal interest are quite rare), - says Alexander ... - What are the disadvantages here? First, it is hardly possible to borrow a large amount from relatives or friends. Secondly, the money will have to be given away. Thirdly, in case of failure and delay in the return period, there is a risk of ruining relations with relatives or losing friends.

Encyclopedia of business: where to get money to start your business

While doctors are fighting for people's lives, governments of all countries are trying to mitigate the effects of the pandemic on the economy. So far, the new virus has not crippled Belarus, but the blow was superimposed on the problems with oil and finances. The Belarusian government is already considering what measures to take to mitigate the consequences. Together with Belagroprombank, we figured out why the support will be provided to companies, and what people will receive in the end.

Why did the authorities decide to help business?

The world economy is forecasting an imminent recession and crisis that will affect almost all countries. Even if the virus itself does not knock Belarus down as its neighbors, economic consequences cannot be avoided. According to the most optimistic forecasts of experts, Belarus is expecting a 2% decline in GDP. This is in case of taking mitigation measures. Without them, the situation will be much more dire.

In order to recover as soon as possible, the government will have to take steps that will keep the economy afloat. It is already known that 2.4 million rubles will be allocated from the budget for measures to prevent the importation and spread of coronavirus.

By April 1, the government will develop measures to support the economy. First of all, they will concern business. It is assumed that they will introduce temporary tax and credit holidays for companies and provide support to individual entrepreneurs.

Business, private and public, provides people with jobs. And contrary to popular stereotype, most companies do not "fatten". This also applies to Belarus and other countries. And in the event of a partial or complete stop of its work for several months, the business runs the risk of going bankrupt: there is nothing to pay suppliers, lessor, employees, tax authorities with. What will he do in such a situation? Either it will reduce the number of employees as much as possible, or it will close. As a result, people will be left without work, partners and the company itself without income, and the budget without taxes, duties and insurance premiums.

Therefore, by supporting business now, the state, on the one hand, reduces the negative consequences for the economy, on the other hand, helps people preserve a source of income.

The President said: "Let them rummage in their pockets." Why should they be saved at the expense of our taxes?

Said. He also added that it is necessary to support people and save jobs. But it is clear that if companies operate at a minimum, and even more so close, then there will be nothing to pay workers. This is fraught with strong increases in unemployment and poverty. After all, unemployment benefits in Belarus are such that they do not allow providing a family with even the minimum necessary food.

Even in the economic conditions in which Belarus was before the problems with oil and the pandemic, the government could not afford to help business out of the budget. Now even more so. The support will most likely include deferring tax and other payments, facilitating debt restructuring, and lowering property taxes.

As frustrating as it may be, it is important to understand that, to a greater or lesser extent, during this crisis, almost every company and employee will suffer. Only the grocery store, pharmacies, health workers will not get less work. In other industries, even if people are not fired en masse, temporary transfer of employees to part-time employment is possible, employers will ask to go on vacation or work from home with reduced pay. The question now is how to soften the inevitable blow to the economy, companies and workers.

One of the most important questions not only for the average Belarusian, but also for an ordinary entrepreneur with a burning idea. If the dreaming about his business has not received an inheritance or won the lottery, then you have to find funds yourself. Where can they help young and start with finances?

[cmtoc_table_of_contents] A business idea is that little spark that can eventually grow into a successful business that can generate many benefits for people.

There are actually a lot of similar ideas. Many of them have already been realized and others are yet to be born.

Today we will talk about those promising opportunities that are advisable to implement in our country and which will be beneficial not only for the entrepreneur, but also for the end consumer.

Inbound tourism in the Republic of Belarus

Western youth, as a rule, have no idea about a country like Belarus and there are reasons for this. However, our country is doing its best to change this situation. For example, recently a visa-free entry to Belarus through the “Minsk National Airport” for a period of 5 days for citizens of 80 countries has been opened.

We have a huge number of places that will be of interest to a foreign tourist at any time of the year. For a minimal acquaintance with the country, three Belarusian sights are suitable:

  • Minsk is the capital of Belarus, with its cultural peculiarities and amazing cleanliness of city streets;
  • The Dudutki Museum Complex is a place where the life and culture of the Belarusian people is reflected ;
  • Nesvizh Castle is a museum-reserve, which gives an opportunity to plunge into the era of the Grand Duchy of Lithuania and see with your own eyes how the most ancient family of Radziwills lived.

These three objects can be made a brand called "The National Ring of Belarus".

It is worth noting that the flow of tourists from different countries of the world is increasing in Russia every year, many of whom would be interested to get acquainted with neighboring Belarus. In addition, the cost of a flight to Minsk from Moscow is very low.

Pets

To register an individual entrepreneur in Belarus, you need a simple package of documents and some free time. It will go to pay the fee and visit the photo studio. If the photos are already ready, then you will need no more than a few hours. In this article, we will describe in detail all the steps that you need to go through and try to answer the most common questions.

An individual entrepreneur (or individual entrepreneur) is an individual who is engaged in any income-generating activity and is registered as an individual entrepreneur.

Documents to be prepared

Let's start from the very beginning - collecting documents. You will need to bring to the registering authority (in Minsk it is the Registration and Licensing Department of the Minsk City Executive Committee at 8 Svobody Square, in other cities - the district executive committee at the place of residence) an application for state registration. A sample can be found on the website of the registering authority. Together with him, you need to take photographs in the size of 3x4 or 4x5 cm, as well as the original or a copy of the document confirming the payment of the state duty, which is 0. of the base value. And the last important document is a passport, it is very important not to forget it at home.

Where to pay the state fee

From January 1, 2021, the size of one base unit is 27 BYN. This means that the cost of registering an individual entrepreneur in 2021 is 13 rubles 50 kopecks. Specify the details for paying the state duty at the local executive committee. For Minsk, all data is available on the website of the Minsk City Executive Committee.

Where to find the OKED code

When it comes to filling out an application for registration of an individual entrepreneur, you will have to face the OKED code. It indicates a specific type of economic activity that you will carry out. The code can be found on the website of the National Statistical Committee of the Republic of Belarus.

Where the individual entrepreneur is registered

In Minsk, registration is carried out at the Minsk City Executive Committee, in other settlements individual entrepreneurs are registered at the local executive committee at the place of registration. It should be noted that an entrepreneur is considered registered from the date of submission of documents. A registration certificate is issued either upon application or on the next business day.

Online submission

If you want to register an IP online (this is possible), you need to obtain a special electronic digital signature (EDS) key. You can buy it at the RUE "Information and Publishing Center for Taxes and Duties" or RUE "National Center for Electronic Services". The cost of the key will fluctuate depending on the period for which you release it and several other factors. The price list can be found on the website of the Information and Publishing Center for Taxes and Duties.

In their stories, successful entrepreneurs often bypass their own failures, and from the outside it seems that everything worked out for them once or twice. But if you dig deeper, it turns out that everything is not quite so and that every businessman has a history of a failed business. Onliner. y together with Alfa-Bank launches a series of publications about small business without rose-colored glasses. In the first episode, three entrepreneurs talked about their failures.

“My main mistake is that I didn’t calculate when I reach the payback”

Igor is 31 years old. During this time, he tried many activities - from a mechanic of mechanical assembly works to the head of a large company. In 2021, Igor decided to start his own business. I saved up the necessary amount to start and decided to realize my old dream - to open a business for the selection of car enamels (like his father once had).

- For three months I thought about the name. I wanted something laconic and associated with paints. As a result, they called themselves "Farbos", - Igor recalls. - At the same time, they were looking for a room, two months later they found it: it was small, 40 "squares", without any repairs - nothing at all, killed. I made a cool renovation there to receive clients, made a website (quite expensive: $ 1000 per page), paid for the logo, company fonts, then bought high-quality German paint, hired an administrator. Basically, I did a nice package for the project. None of the competitors in those days had this.

People were huddled in some dark, finished rooms, and I had a room in which an office of a large company could be opened. When the suppliers came to us for the first time, they said "wow".

Igor is one of the few in the country who even bought a special device that helps to select auto enamel. It cost several thousand euros. Farbos opened in March 2021.

- From the day of opening until the moment of sale, we had not a single day without revenue, explains Igor. “We worked six days a week, and every day we had clients and there was revenue. In five months, we achieved a level of sales that many competitors achieved in a year or two. Our prices were higher than those of our competitors, while people came to me for service. The beliefs of my acquaintances that people only go for a low price, so they need to dump right away, turned out to be a myth.

At the same time, Igor worked for hire, but after a couple of months he realized that the business was taking up much more energy than he expected, and invited a friend to help.

- Now I understand that I made a lot of mistakes. I didn't understand the whole picture, I just started to act at random, - he says. - I did not communicate with people who are cooking in this, I did not calculate when I will reach payback and how many orders per day I need to do for this, what the cost of paint will be and how much I can earn on it. That is, he made the standard mistakes of a young entrepreneur.

Besides, I haven’t calculated how many clients I can serve per day. I planned 40-50 people, but one day 10 clients came to us, and we were choked. Only some time after the opening, I realized that the paint was selected for about an hour. Accordingly, we could fulfill 8-10 orders per day.

In addition, I did not consider that scaling up such a project would be long and very costly. I also tried to combine my main job with a business, and it was very difficult. From the advantages of that situation - I learned to delegate authority. I realized that the main thing is to trust employees.

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