exemption is applied if the share of proceeds from the sale of an innovative organization of high-tech goods (works, services) is at least 50% of total revenue.
9.5 Government Support To support the development of private small and middle-sized business in Belarus, the state established public funds to support entrepreneurship, business incubators, centers for the promotion of youth employment and development of youth entrepreneurship. The principal government agency responsible for supporting and developing small and middle-sized business in Belarus is the Department of the Ministry of Economy. This is a structural subdivision of the Belarusian Economy Ministry that is coordinating the activities of state bodies, local executive and administrative bodies in the field of small business. The Department`s structure includes several public funds for the support of the development of small and medium-sized businesses - the Fund for Support of Small and Medium-sized Businesses, the Belarusian Fund for Financial Support of Entrepreneurs, regional funds for financial support. The Belarusian Fund for Financial Support of Entrepreneurs was established in 1998 for financial support of public policies, to support and develop small business in Belarus. The Fund is a legal entity, operates in cooperation with the Ministry of Economy and other republican bodies of state administration, banks and non-bank financial institutions, public associations of entrepreneurs and other legal entities and individuals. Belarusian Fund of Financial Support of Entrepreneurs provides guarantees for soft loans. I accordance with the terms and conditions, the amount of the guarantee shall not exceed 70% of the loan amount. Preferential loans – are the loans provided by banks in Belarus to small business in accordance with the regulation on provision state financial support to small business entities and infrastructure to support small businesses at the expenses provided in the programs of state support of small business. Annually in Belarus is carried out a competitive selection of investment projects. Belarusian Fund of Financial Support of Entrepreneurs has developed rules for competition of investment projects of small businesses to receive state financial support. Support is funded under the Program of State Support of small Business in Belarus. Program`s funds include the national budget, allocated by the Belarusian Fund of Financial Support of Entrepreneurs, as well as funds remaining at the disposal of the fund from its activities. The state support is carried out on return basis or gratis, as well as by providing equipment on a lease (financial lease). The participants are: individual entrepreneurs, small organizations with an average number of employees up to 15 persons, including, small organizations numbering from 16 to 100 people. Priority is WWW.INVESTARBY.COM
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