Small business

Lithuanian economists and business groups have noticed a trend among shoppers: Lithuanians are beginning to turn their backs on large supermarkets in favour of smaller shops and markets.

Lithuania is making the transition from to a developed market-economy capitalism but it is creating negative side- effects, said Robertas Dargis, president of the Lithuanian Confederation of Industrialists.

A growing number of self-employed people in Lithuania indicates the spread of the spirit of entrepreneurship, say economists.

Almost half of all small and mid-sized companies in Lithuania will focus on introducing new products and services to the market this year, according to a survey carried out by SEB bank.

Small businesses in Lithuania are willing to invest into expansion, according to a survey.

Instead of strengthening their positions abroad or looking for new markets, small and medium sized Lithuanian companies are this year planning to increase investment in expansion in domestic markets, a survey commissioned by SEB Bank shows.

A new €38 million fund to provide Lithuanian small and medium-sized businesses with access to soft loans has been announced by the government.

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According to Swedbank, Lithuania's small businesses often refer to banks seeking to borrow working capital. In the third quarter of 2014 Swedbank issued loans to small businesses for LTL 100 million (EUR 29 million).

New law amendments, which aim to prevent creation of fictitious businesses in Lithuania, will only make it more problematic for foreigners to start a small business, lawyers claim.

Association of Lithuanian Chambers of Commerce, Industry and Crafts (LPPARA) says that small businesses should be allowed to give change in litas even after the date that Lithuania switched to the euro.