Entrepreneurs Are Going Through Tough Times

The market is giving way to retail chains and there are fewer of them.

The number of solo entrepreneurs in Belarus is still declining. Meanwhile, solo entrepreneurs lost the market to retail chains even more. This follows from the official data of Belstat, according to Zerkalo. In addition, officials have prepared changes for entrepreneurs, because of which some of them will have to close.

Solo entrepreneurs are losing market

In January-April, solo entrepreneurs and individuals accounted for 5.1% of retail turnover, and a year earlier — 5.9%. The rest of the market share remains with trading organizations.

The retail turnover of solo entrepreneurs and individuals for the four months of this year amounted to 1 billion 359.4 million rubles. This is 3.6% less in comparable prices than in the same period of 2023.

Number of solo entrepreneur is reducing

As for the number of solo entrepreneurs, at the beginning of May, there were 248.500. This is 3.6% less than a year earlier. They have decreased in all regions and Minsk. The most noticeable drop during this period was in Minsk (-9.4%). For comparison: in the Mahiliou region, their number decreased by 3.4%, and in the Vitebsk region it decreased by 1.8%.

If you look at the areas of activity, then most noticeably since the beginning of the year, the number of solo entrepreneurs has decreased among those who are engaged in the administrative and auxiliary

services — by 11.2%. For comparison: information and communication lost 8.8% of solo entrepreneurs.

At the same time, the increase in the number of entrepreneurs in January-April compared to the same period in 2023 was recorded in such areas as "real estate operations" — by 4.4%, as well as in "transport activities,

warehousing, postal and courier activities" — by 0.8%.

The innovations for solo entrepreneurs

On 22 April this year, Lukashenka signed a law on entrepreneurship. Thus, officials will cut the list of activities for solo entrepreneurs. Those who do not fall into this list will have to either close completely or change for legal entities.

The types of activities that solo entrepreneurs will be able to carry out should be established by the government before July 1. According to the types of activities that will not be included in this list, registration of new solo entrepreneurs will be terminated from October 1.