First Deputy Prime Minister and Minister of Economy of Ukraine, Yulia Svyrydenko, Announces New Opportunities Within the “Own Business” Program. Yulia Svyrydenko announced new opportunities within the “Own Business” program during an event celebrating the second anniversary of this grant initiative. The updated program now offers new conditions for the development of personal businesses for young entrepreneurs and other eligible categories.
Grants for Young Entrepreneurs
Under the new program conditions, young entrepreneurs aged up to 25 can receive grants of up to 150,000 UAH to start their own businesses. One of the key innovations is that creating job positions will not be mandatory for receiving the grant. Furthermore, after three years, these entrepreneurs will be eligible to apply for another grant of up to 250,000 UAH under general conditions, with the obligation to create at least two new job positions.
Expansion of Grant Categories
The government has also expanded the categories of individuals eligible for grants under the “Own Business” program. Now, grants of up to 500,000 UAH are available for the spouses of deceased soldiers.
Additionally, new categories have been included in the program, such as wine producers and entrepreneurs operating in areas of active conflict. The government has also allowed the use of grant funds for leasing water bodies and purchasing aquaculture for cultivation.
Future Innovations
Yulia Svyrydenko announced plans for further changes to the program, including innovations that will increase grant support to 500,000 UAH for creating four job positions and allow a second grant of 250,000 UAH after three years for all categories of entrepreneurs.
Program Results
Over two years, the “Own Business” program has provided 20,000 grants totaling 4.6 billion UAH, resulting in the creation of over 38,000 new jobs. Entrepreneurs from Kyiv, Lviv Oblast, and Rivne Oblast have actively utilized this opportunity, and there is also a high level of female participation in the program.
Veterans Grant Program and New “Create” Program
In April 2023, a separate grant program for veterans and their spouses was launched. Over a thousand winners have received grants totaling 480 million UAH, creating nearly 2,000 new jobs.
This year also saw the launch of the new “Create” program, targeting women who are owners and managers of production and processing enterprises. Winners of this program will receive up to 15,000 USD to support innovations and relevant business activities.
Business Support Policy
Grant support is part of the government’s “Made in Ukraine” policy, which includes about twenty programs aimed at stimulating production, attracting investments, and developing exports. Approximately 45 billion UAH will be allocated to these programs in 2024.
Entrepreneurs seeking more information about support programs or consultations can contact one of the 24 “Made in Ukraine” offices in various regions or use online consultations.
The “Own Business” program continues to provide essential support to entrepreneurs, fostering the growth of small businesses and contributing to the creation of new jobs in Ukraine.
