The participants of the Own Business programme have already created 38,000 new jobs. And this figure is constantly growing. This was emphasised by the Prime Minister Denys Shmyhal during an event dedicated to the second anniversary of the Own Business grant programme.
The Head of the Government noted that two years ago, Ukrainian businesses were experiencing one of the most critical moments of a full-scale war with russia.
“In the summer of 2022, we saw the first signs that the economy was adapting to military shocks. Business surveys showed positive expectations for the future. Therefore, we decided to develop a new effective tool to support entrepreneurs – a programme of non-refundable grants. This became the basis of the comprehensive eRobota programme and the Own Business programme,” said Denys Shmyhal.
According to the Prime Minister, job creation is a key condition for grant provision. In addition, the Government has set two other goals.
The first is to provide people with resources to implement their business projects and business ideas. To open their own cafe, hairdresser, workshop or shop. Or expand existing facilities, upgrade or offer new products or services to customers.
“The state has extended a helping hand to enterprising people. As of today, 19,500 people have become participants in the Own Business programme. They have received over UAH 4.6 billion from the state and paid taxes worth UAH 2.6 billion,” the Head of Government noted.
And the last goal is to change the structure of the Ukrainian economy and to increase the importance of small and medium-sized businesses.
“It will be one of the drivers of Ukraine’s recovery and further economic growth. We want to bring the share of small and medium-sized businesses in the value added to 75%. For comparison, before the full-scale war, it was 64%,” said Denys Shmyhal.
The Prime Minister highlighted positive results: small and medium-sized businesses were recovering more actively than other segments. In the first year of the full-scale war, 57% of small and medium-sized enterprises were fully operational, while in the second year, 85% were already in operation.
“The veterans’ component of the Doing Business programme was launched in April 2023. We consider it not only in the context of the economy, but also in the context of respect and support for our defenders, creating the most favourable environment for them,” the Prime Minister said.
According to him, more than a thousand veterans and their families have so far received state grants worth UAH 480 million. “Created by defenders” is already a brand, and it will become increasingly popular.
In addition, the Own Business grant programme is constantly adapting to the needs of Ukrainians. Ukraine has opened up the possibility of receiving non-refundable funds for young people under 25, for wives and husbands of fallen soldiers, for winemakers and for entrepreneurs working in the area of active hostilities. The Own Business programme has also become part of the comprehensive policy “Made in Ukraine” initiated by President Volodymyr Zelenskyy.
“This is a long-term priority. It has been relevant during the war, will be relevant during the post-war reconstruction period and in times of economic growth,” the Prime Minister stressed.
Denys Shmyhal thanked Ukrainian business for everything it did to win and foreign partners who helped fund the Own Business programme. (Government portal)