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Bank of the Dnieper River
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Main / News / Republic
2 February 2022

Belarusian Economy Ministry, UNDP offer solutions for business in regions


MINSK, 2 February (BelTA) – The Belarusian Economy Ministry and the United Nations Development Program (UNDP) have worked out instructions for promptly starting and developing one's business in the regions, the ministry's press service told BelTA.

The source said: “How can one open a barbershop or an online shop? How can one start or expand a business specializing in education services or tourism? How can one organize the production of cheese, apparel and accessories, construction materials or other kinds of business in a region? Out-of-the-box solutions – simple and understandable guidelines – have been developed as part of the project of the Economy Ministry and the UNDP designed to foster economic development at the local level in the Republic of Belarus. The project is financed by the European Union.”

Out-of-the-box solutions can help not only future entrepreneurs but those, who think about expanding an existing business. They offer possible business development scenarios and allow working out plans to implement them in addition to predicting possible risks.

Every out-of-the-box solution consists of four topical units. Business Modeling allows finding out what steps need to be taken in order to open a business, what model should be used, in what directions the business can grow and expand. Jurisprudence contains legal requirements, the necessary documents and administrative procedures for every industry the out-of-the-box solutions cover. Financial Model can help effectively organize the management of the organization's financial flows. A financial calculator has been developed for every out-of-the-box solution. It allows calculating future revenues and expenses. Marketing contains information about the main tools for promoting one's business and for securing more effective sales.

A total of 20 out-of-the-box solutions have been worked out. All of them will become available on the website of the Belarusian Economy Ministry soon.

Belarus news (BELTA)