By the GEM Belarus National Team
After several years of tracking shifting economic tides, the latest findings from the Global Entrepreneurship Monitor (GEM) reveal a fascinating paradox currently unfolding within the Belarusian economy. In a landscape characterised by external headwinds and institutional shifts, one might expect the entrepreneurial spirit to retreat. Instead, the data uncovers a story of remarkable resilience: the pulse of Belarusian entrepreneurship is not just beating - it is accelerating. The comprehensive findings of this evolution can be explored in the full GEM Belarus 2024/2025 National Report.
A Surge in Early-stage Entrepreneurial Activity
The most striking revelation of the latest study is the significant rise in Total Early-stage Entrepreneurial Activity (TEA), the percentage of the adult population who are actively involved in starting a business or managing a new business that is less than 42 months old). In 2021, the TEA rate stood at 13.5%; by 2024, that figure climbed to 16.6%. Perhaps even more notable is the surge in women’s entrepreneurship, which now stands at 17.1%, surpassing the male rate for the first time in the report's tracking history.
Belarusians are no longer just dreaming of business; they are actively identifying opportunities. Over 46.9% of the adult population now perceive good opportunities for starting a business within the next six months, a staggering jump from 25% in 2021. Despite an environment that many would label as uncertain, the perceived ease of starting a business has also risen by nearly 14%.
From Survival to Significance
Beyond the raw numbers, the report identifies a profound shift in why Belarusians are choosing to start businesses. In previous years, many were driven by necessity, or the immediate need to earn a living due to a lack of other job prospects. While this remains a factor, the percentage of entrepreneurs motivated purely by necessity has dropped sharply.
In its place, a new, mission-driven motivation is flourishing. The proportion of early-stage entrepreneurs motivated by the desire to make a difference in the world has jumped to 36.1%. This suggests a generation of founders who are no longer driven only by the need to secure a source of income. Entrepreneurship is increasingly viewed as a tool for personal autonomy and social influence, and Belarusians are seeking purpose, self-fulfillment, and social impact.
The Paradox of Fear and Action
Interestingly, the fear of failure remains a significant factor, cited by 52.1% of the adult population - a figure that has remained high since its sharp increase in 2021. However, unlike in many other global economies, this fear does not appear to be a deterrent. Belarusian entrepreneurs are demonstrating a unique brand of pragmatic resilience. They acknowledge the risks and the increasing state regulations, yet they continue to move forward, adapting their business models to a highly flexible reality in order to survive.
A Choice Between Growth and Stagnation
Ultimately, the unique potential of Belarusian entrepreneurship - backed by a clear public demand for freedom and self-realization - could remain untapped.
The report concludes that failing to create a predictable and favourable institutional environment will turn this potential into a missed opportunity. While the culture of entrepreneurship is strengthening, the report highlights persistent pressure from institutional instability. However, there is a path forward. By actively investing in human capital, Belarus can preserve its entrepreneurial culture. Doing so, it will lay a solid socio-economic foundation for the country’s sovereign and democratic future.
The story from the latest GEM Belarus Report is about people who refuse to let uncertainty stifle their ambition. They are resilient, mission-oriented, and ready to drive sustainable development. The energy of the people is evident; the challenge now is to ensure it has the institutional space to truly take flight.
The GEM Belarus National Report was carried out by a team of experts at the BEROC Economic Research Center. Mapping the country’s entrepreneurial evolution was made possible through the United States Agency for International Development (USAID), in collaboration with Pyxera Global under the INNOVATE project. This collective effort, also supported by the Swedish International Development Cooperation Agency (SIDA), ensures that the unique dynamics of the Belarusian private sector remain visible on the global research map.