In Ukraine, the number of entrepreneurs is increasing

In Ukraine, the economy is recovering, and the number of individual entrepreneurs in Ukraine has exceeded pre-war figures. This was announced by Deputy Minister of Economy of Ukraine Nadiya Bihiun during a live broadcast on the National Telethon.

"We have positive news – Ukrainian businesses are recovering, and the number of registered individual entrepreneurs is increasing. As of mid-summer, we have approximately 2 million individual entrepreneurs, which is an even higher number than we had before the full-scale invasion. Currently, we have nearly 36,000 more individual entrepreneurs than we had before the war, in January 2022," explained Nadiya Bihiun.

According to her, Ukraine experienced a very difficult past year when the war began, blackouts occurred due to enemy shelling, and there was a drop in GDP. However, the economy has now started to recover, and there is already a growth in GDP of almost 2.2%.

"Economic growth is very important for us because it is through tax revenues from businesses that we finance our armed forces. I want to thank entrepreneurs who work diligently and pay taxes. In the first half of the year, revenues of approximately UAH 1.1 trillion were received into the general state budget, of which about UAH 787 billion is taxes from businesses. Comparing this year to the previous one, revenues of the general state budget have increased by about 20 percent. This is a very good signal that the economic recovery will continue, and its pace will increase," Nadiya Bihiun continued.

According to her, the government's grant programs "eRobota" that were launched last year are helping businesses recover. The government offers several support options, including microgrants for small businesses, grants for veterans and their families, and grants for processing up to UAH 8 million.

"Since the start of the grant programs implementation, just over a year has passed, and during this time, more than 7,000 grants were awarded, which created approximately 20,000 jobs. This already brings significant revenue to the budget. Entrepreneurs who have used grant programs have already paid about UAH 750 million in taxes. In general, all these programs are not so much grant programs as they are investment programs. The money invested by the state will return in the form of taxes within three years," concluded Nadiya Bihiun.

Source: Government Portal of Ukraine