ENTREPRENEURIAL ACTIVITY

ENTREPRENEURIAL ACTIVITY, an individual independent economic activity of a person or group of people aimed at obtaining profit or personal income. Helps to meet the needs of population in goods and services, and to create new jobs. It also improves territorial and sectoral structure of the economy and includes any types of economic activity, which are not prohibited by the law. Depending on the form of ownership, E.a. can be classified as private and collective. The most attractive areas for business are: trade, real estate transactions, rent and provision of services, construction, paid services, manufacturing and agriculture. Priority fields for small and medium-sized enterprises development in RB are the following: tourism and social entrepreneurship. The main directions of implementation of the state program Development and Support of Small and Medium-Sized Enterprises in RB (2015) are the provision of financial support for the establishment of private business, the implementation of small business investments initiatives, activities to increase the prestige and popularize entrepreneurial activities, etc. In 2015, in RB there were: 46.4 thous. small and 0.5 thous. medium-sized enterprises,

76.3 thous. individual entrepreneurs, and approx. 137 thous. people were engaged in the entrepreneurial sphere, including 66.4 thous. hired workers. Small enterprises produces matches, steel mesh, porous aggregates, more than 90% of RB production of metal-plastic windows and doors, about 40% of garments, paints and varnishes, and furniture. By the number of small and medium-sized businesses and turnover produced by these companies, RB ranks 11th and 3rd respectively in the RF. There is a state program Development and Support of Small and Medium­Sized Enterprises in RB. Every year The Entrepreneur of the Year Republican competition is held. The Fund for Development and Support of Small Business, State Committee of RB for Entrepreneurship and Tourism operate in the RB.