The Cabinet of Ministers will double the funding for the micro-grant program for business development; next year it is planned to issue grants worth UAH 3.5 billion, the press service of the Ministry of Economy reports.
“We see that the program is in great demand among Ukrainians, so next year we plan to double its funding and allocate UAH 3.5 billion for this purpose, which will allow us issuing 14,000 grants,” said Deputy Minister of Economy Tetiana Berezhna.
She noted that as of early August, grant recipients had already paid over UAH 400 million in taxes to the budget. This means that entrepreneurs have already returned a quarter of the funds invested by the state in small business development in the form of taxes paid.
The Ministry of Economy reminds that both existing entrepreneurs and Ukrainians with no business experience can receive a grant to start or expand their own business. The application is submitted through the Diia portal.
An entrepreneur working in a city or village in any region of the country can receive a grant. The leading regions whose entrepreneurs have received the most grants are now Lviv, Rivne, Kyiv, Ivano-Frankivsk and the city of Kyiv. (Ukrinform/Business World Magazine)