Approximately 15% of the consolidated budget's revenue in the Vitebsk region is generated by small and medium-sized businesses

April 19, Vitebsk / Diana Kurilo - BELTA /. About 15% of the consolidated budget revenue of the Vitebsk region is formed by small and medium-sized businesses. This was announced today at the awarding ceremony for the winners and laureates of the "Best Entrepreneur of the Vitebsk Region 2011" competition by Oleg Matskevich, Deputy Chairman of the Vitebsk Regional Executive Committee, as reported by a BELTA correspondent. "Private business in Belarus is on the path of formation, and broad opportunities for its development are open to it," the Deputy Chairman of the Regional Executive Committee is confident. In confirmation of his words, he reported that small businesses account for 9.4% of the industrial production volumes in the Vitebsk region. The growth rate of production volumes in 2011 was 217% compared to the regional average of 214%. The profit of private businesses is estimated at Br850 billion. Private entrepreneurs exported products worth $1 billion and achieved a positive foreign trade balance. Small and medium-sized businesses employ 19% of the people employed in the national economy. As Oleg Matskevich emphasized, the authorities will continue to promote the development and support of private initiative and stimulate business activity. For example, solely from the reduction of the tax burden this year, enterprises will be able to receive an additional Br200 billion. In addition, state support for business will continue. Last year, Br2.5 billion in budget loans were allocated to small businesses in the region, and about Br1 billion was directed to preferential lending for private projects. This year, Br5 billion will be allocated to lending to small businesses. At the same time, Oleg Matskevich noted that private businesses need to show more initiative and propose breakthrough projects. The best entrepreneurs of the region have been identified in ten nominations. Among them are the joint limited liability company "Zavod "Nodvig" from Polotsk, which produces AC electric motors, and SOOO "LLK-Naftan", which produces oils. As of the beginning of the year, 25,000 individual entrepreneurs and 8,200 legal entities are operating in the Vitebsk region. -0-