The policy paper examines the opportunities and challenges for small and medium-sized enterprises (SMEs) with Belarusian shareholders in the EU to access public equity markets, such as NewConnect in Poland and Nasdaq First North Baltic. It notes that while traditional bank financing is limited for these businesses due to lack of collateral, sanctions, and short credit histories, alternative funding methods like crowdfunding, venture capital, and public offerings are available. The paper highlights the benefits of going public, including improved access to funding, enhanced governance, and increased credibility, while also addressing the challenges and costs associated with initial public offerings (IPOs). Proposed solutions aim to integrate Belarusian entrepreneurs into the EU economy, bolster their impact, and support economic reforms in Belarus.
