Government prepares long-term program to support small and medium business

The government has a strategic vision to support small and medium-sized enterprises (SMEs). It is reflected in the legislation, particularly in the draft Law of Ukraine "On state support of small and medium business development." This was stated by Igor Sheverdin, Director of Department of Regulatory Policy and Entrepreneurship Development of the Ministry of Economic Development and Trade during a public discussion "Business realities in Ukraine: How conditions of taxation and foreign trade change," the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

A senior official of the Ministry of Economic Development said that the Ministry had prepared and submitted to the Cabinet of Ministers the draft "National Program of small and medium enterprises support 2014-2024," which will gradually introduce new types of state financial support for SMEs in Ukraine.

The government is actively considering the issue of establishing a state support for business, including financial and credit one, the representative of the Ministry of Economic Development said. In particular, the National Program envisions partial compensation of interest rates on loans provided for the business projects, compensation of lease payments, it is also planned to expand micro-credit programs and develop appropriate infrastructure.

At the same time, creation of the Business environment monitoring institute is under way, whose main function will be identification of systemic causes of enterprises rights violations and consideration of business complaints.

The fact that Ukraine has moved up 28 positions in the Doing Business ranking, according to analysts, is associated with improved business conditions. This positive trend is a reflection of the government steps aimed at creating clear and transparent rules to ensure equal competitive conditions in the market, de-shadowing of economy and the fight against corruption.