Almost Half Of Belarusian Individual Entrepreneurs Intend To Wind Back Their Business

• 6.06.2019, 13:21

Entrepreneurs continue to lose market and buyers.

Individual entrepreneurs continue to lose positions in the market in Belarus. In January-April this year, individual entrepreneurs and individuals accounted for 9.6% of the total retail turnover for this period, while a year ago – 11.3%. This follows from the data of Belstat, tut.by writes.

The share of individual entrepreneurs and individuals in retail turnover in January-April decreased in all regions compared to the same period of 2018.

Hrodna, Brest and Vitsebsk regions are leaders in the presence of individual entrepreneurs and individuals in retail turnover – 13.4% and 13.1%, respectively. For example, this indicator was 15.7% in Brest and Vitsebsk regions a year ago.

Minsk and Minsk region, where individual entrepreneurs account for 6.8% and 7.6% of the market respectively, are outsiders.

Meanwhile, the number of individual entrepreneurs engaged in retail trade continues to decline in Belarus. According to the Ministry of Taxes and Levies, there were 66,325 of them on April 1, 2012, and a year earlier – by 707 more.

We remind that almost half of individual entrepreneurs –- 46% – intend to close their business in the near future. At that 20% – within a year. Most of those willing to "leave" live in Minsk and Minsk region – 51%. These data were obtained during the study "The Best Region of Belarus for Doing Business by Individual Entrepreneurs," held by the public association Perspective in 2018.