ukrainianbusiness

Monday, September 9

Transcarpathia is turning into an economic hub; what makes the region attractive for businesses?

Transcarpathia is turning into an economic hub; what makes the region attractive for businesses? As of July, more than 80,000 entrepreneurs worked in Zakarpattia Oblast. During the war, the number of entrepreneurs has increased by more than 6,000, which indicates favorable conditions for economic...

Friday, September 6

One of Ukraine’s largest woodworking enterprises exports products for French winemakers and has continued to develop during the war.

One of Ukraine’s largest woodworking enterprises exports products for French winemakers and has continued to develop during the war. Wood International from Khust (Transcarpathia region) manufactures oak rivets (a barrel fastening component) and alternative products for aging wine, spirits, and beer. The primary sales market for th...

The business community offers an alternative to increasing taxes in Ukraine.

The business community offers an alternative to increasing taxes in Ukraine. Members of the European Business Association hope that instead of drafting laws to raise taxes for businesses, the government can find other solutions to fund the budget, as the entire burden of the p...

Thursday, August 15

Ukrainian businesses have begun to develop distributed generation; this provide for their needs and additional capacities for the power system.

Ukrainian businesses have begun to develop distributed generation; this provide for their needs and additional capacities for the power system. Ukrainian company Energo-Plus plans to purchase a closed thermal power plant with a capacity of 60 MW in a neighboring country and transport it to Ukraine. The project will cost approximately €50M. Th...

Monday, August 12

Ukrainian small and medium-sized businesses will receive €7B in international aid.

Ukrainian small and medium-sized businesses will receive €7B in international aid. Last week, the first meeting of the Small and Medium Business (SME) Sustainability Alliance, created in June during URC-2024 with the participation of Ukraine, 12 other countries and 17 development in...

Entrepreneurs note a satisfactory business climate only in the west of Ukraine.

Entrepreneurs note a satisfactory business climate only in the west of Ukraine. Business conditions in other regions of Ukraine are assessed by companies as difficult, and only in the Western region do most entrepreneurs consider them satisfactory, according to a survey by the Eu...

Friday, August 2

Despite declines in attendance and the electricity shortage, restaurant industry revenue increases by 16%.

Despite declines in attendance and the electricity shortage, restaurant industry revenue increases by 16%. According to the Poster POS company, restaurant turnover in January-June compared to the corresponding period in 2023 increased by 16%, and the average check, due to price increases, increased by 13% ...

The business community has softened its negative expectations; the construction sector feels the most confident.

The business community has softened its negative expectations; the construction sector feels the most confident. The Business Activity Expectation Index (BAEI) increased to 44.4 in July from 43.6 in June but is still below this year’s high of 52.3, recorded in April. Adaptability to energy supply problems,...

Wednesday, July 31

The NBU: Profitable Ukrainian companies do not use bank loans.

The NBU: Profitable Ukrainian companies do not use bank loans. Bank loans are not utilized by operationally profitable companies, which account for about 66% of their total operating profits, NBU data shows. In 2023, 8.6% of companies that borrowed money from Ukr...

Tuesday, July 30

After currency liberalization in May, companies’ demand for currency increased to $322M.

After currency liberalization in May, companies’ demand for currency increased to $322M. Forbes has calculated that the additional demand for currency following the introduction of a large currency liberalization program in May amounted to $322.6M. During the liberalization’s introd...

Ukraine will launch a feedback platform for government services.

Ukraine will launch a feedback platform for government services. The Ministry of Economy announced the launch of beta testing for Pulse, an online platform designed to collect feedback from businesses and interact with the state. It is noted that the platform’...

Thursday, July 25

How does a business assess its state and prospects?

How does a business assess its state and prospects? The number of EBA member companies operating at full capacity has decreased from 78% to 64% compared to the beginning of the year. In particular, 45% of the surveyed top managers assess their business...

Tuesday, July 23

International partners offer development grants to Ukrainian businesses.

International partners offer development grants to Ukrainian businesses. The Norwegian Nansen Grant Program opened a competition for projects from Ukrainian agricultural producers and processing enterprises. The competition aims to promote investment-ready projects, partic...

Monday, July 22

Ukrainian and Polish businesses sign a cooperation agreement in Warsaw.

Ukrainian and Polish businesses sign a cooperation agreement in Warsaw. More than 200 representatives of Ukrainian and Polish businesses met in Warsaw as part of the Business in the City event. The parties signed an agreement on cooperation between Diia.Business in Warsaw...

Wednesday, July 3

The NBU’s currency restrictions threaten defaults in the corporate sector and an increase in the cost of loans to the state.

The NBU’s currency restrictions threaten defaults in the corporate sector and an increase in the cost of loans to the state. Oleksandr Vodoviz, the top manager of the Metinvest group, noted: “The largest easing package was introduced in May 2024: businesses were allowed to take foreign currency abroad to pay loans and...

Tuesday, June 25

Ukrainian small and medium-sized businesses strive to develop abroad to maintain efficiency.

Ukrainian small and medium-sized businesses strive to develop abroad to maintain efficiency. Faced with an increasing number of macroeconomic challenges, small and medium-sized businesses (SMEs) in Ukraine are resorting to using artificial intelligence technologies, supplier diversification, ...

Monday, June 24

Government experts advise Ukraine to build economic clusters and underground factories protected by air defense to accelerate its economic development.

Government experts advise Ukraine to build economic clusters and underground factories protected by air defense to accelerate its economic development. Experts from the Advisory Council on Economic Policy believe that Ukraine should build economic clusters protected by air defense systems and, closer to Russia, hide factories underground. They see th...

Since the beginning of the year, Ukraine’s GDP has grown by 4.3%.

Since the beginning of the year, Ukraine’s GDP has grown by 4.3%. According to the Ministry of Economy, in May 2024 Ukraine’s GDP increased by 3.7%, and in January-May 2024, by 4.3%. GDP growth continued thanks to high export rates supported by the stable oper...

Tuesday, June 18

Metallurgy and energy: key investments of Ukrainian business in the EU.

Metallurgy and energy: key investments of Ukrainian business in the EU. The total amount of Ukrainian investment in Poland has already reached more than €1B, while last year, more than 300 Ukrainian companies started operating in Romania. In general, businesses from Ukrai...

Thursday, June 13

Ukraine and more than 30 international partners have created the Small and Medium Business Sustainability Alliance and will contribute more than €7B.

Ukraine and more than 30 international partners have created the Small and Medium Business Sustainability Alliance and will contribute more than €7B. In particular, Austria, Canada, Estonia, Germany, Japan, Luxembourg, the Netherlands, Norway, Spain, Switzerland, Britain, the EU, the World Bank, USAID, The Council of Europe Development Bank, the EB...

Tuesday, June 11

How is the retail market in Ukraine doing in the third year of the war?

How is the retail market in Ukraine doing in the third year of the war? Comfy, one of Ukraine’s largest retailers of household appliances and electronics, continues to scale its business. The retailer opened its first store in Berdychiv (Zhytomyr Region) with a tota...

Tuesday, June 4

Businesses in Ukraine are increasingly threatened by a lack of workers, not war.

Businesses in Ukraine are increasingly threatened by a lack of workers, not war. Mobilization in Ukraine has led to the significant draining of personnel from the Ukrainian economy. In addition, more than six million people have fled the war, and many men work in the shadow econom...

In the first quarter, the profits from large and medium Ukrainian businesses reached ₴319.6B, and the share of unprofitable enterprises decreased to 26.7%.

In the first quarter, the profits from large and medium Ukrainian businesses reached ₴319.6B, and the share of unprofitable enterprises decreased to 26.7%. According to the State Statistics Service, large and medium-sized enterprises generated a positive financial result before taxation for the first quarter of 2024. It amounted to ₴253.6B, compared to ₴...

Tuesday, May 28

The largest pharmaceutical company in Ukraine received €12M from Ukrainian and Latvian banks to construct a plant in Spain.

The largest pharmaceutical company in Ukraine received €12M from Ukrainian and Latvian banks to construct a plant in Spain. Thanks to the West Bridge program, Ukrainian businesses continue to develop in EU countries. Another of the program’s significant projects is financing a new pharmaceutical plant for the largest Ukrai...

Friday, May 24

Ukrainian businesses cite the risks of discontinuing currency liberalization measures.

Ukrainian businesses cite the risks of discontinuing currency liberalization measures. As stated by analysts, the continuation of currency liberalization is absolutely necessary. Expanding the established limits and conditions for paying dividends and interest on existing debts remains ...

Friday, May 17

The EBRD will provide ProCredit Bank with a €70M guarantee for lending to Ukrainian businesses.

The EBRD will provide ProCredit Bank with a €70M guarantee for lending to Ukrainian businesses. The European Bank for Reconstruction and Development will provide guarantees for Ukrainian ProCredit Bank sufficient to support €70M in new lending for small and medium-sized enterprises. The EBRD gua...

Thursday, May 16

How will the EU’s Ukraine Investment Framework program work?

How will the EU’s Ukraine Investment Framework program work? The Ukraine Investment Framework (UIF) is an investment tool of the Ukraine Facility program, which is designed to mobilize investment for Ukraine’s recovery and development. Funding under this instru...

Thursday, May 9

What grants are international partners offering to Ukrainian businesses?

What grants are international partners offering to Ukrainian businesses? In Ukraine, the DRG4Food competition continues to provide grants for the implementation of innovations in the food industry. Its main goal is to promote the development and testing of responsible data...

Wednesday, May 8

Horizon Capital has raised $350M in investments for Ukrainian companies: Where and how much do they plan to invest?

Horizon Capital has raised $350M in investments for Ukrainian companies: Where and how much do they plan to invest? The Horizon Capital Fund has raised $350M and is ready to invest in new companies, said Lenna Koszarny, CEO of Horizon Capital. She expects the fund’s portfolio to grow to at least 8-10 companie...

Tuesday, November 28

Which businesses in Ukraine have been most affected by the blockade of the Polish border?

Which businesses in Ukraine have been most affected by the blockade of the Polish border? The European Business Association noted: “Among the EBA members, different businesses had a negative impact from the strike on their operations. These are retailers and heavy industry enterprise...

Friday, September 29

The EBRD plans to increase support for Ukrainian businesses next year.

The EBRD plans to increase support for Ukrainian businesses next year. As the Minister of Economy of Ukraine, Yulia Svyridenko, reported after the meeting with the President of the EBRD, Odile Renaud-Basso, the bank is ready to participate in financing the demining of ag...

Friday, September 15

Ukrainian entrepreneurs need diplomatic support to export to 16 countries.

Ukrainian entrepreneurs need diplomatic support to export to 16 countries. These companies are in the food, dairy, beverage, textile, furniture, cosmetic, and IT industries, informs the Ministry of Foreign Affairs’ Nazovni service. The largest numbers of requests for d...

Friday, July 21

USAID plans to invest $230M in Ukrainian business.

USAID plans to invest $230M in Ukrainian business. The US Agency for International Development will work with Congress to accomplish this goal. USAID head Samantha Power said that the money should help companies comply with EU rules and export more go...

Friday, June 2

Luxembourg is interested in microfinancing Ukrainian businesses.

Luxembourg is interested in microfinancing Ukrainian businesses. During a video meeting the Minister of Economy of Ukraine, Yulia Svyridenko, and her colleague from the Grand Duchy of Luxembourg, Franz Fayo, discussed the restoration of Ukraine, humanitarian demini...

Wednesday, May 17

Ukrainian business receive constant support to keep the economy alive.

Ukrainian business receive constant support to keep the economy alive. According to the Ministry of Economy, another 323 Ukrainians will receive UAH 77M worth of microgrants from the state for starting and developing businesses under the Own Business program. Since the b...

Thursday, May 11

Last year, the 1,000 largest Ukrainian companies earned UAH 6 trillion.

Last year, the 1,000 largest Ukrainian companies earned UAH 6 trillion. According to YouControl, most top enterprises are companies that were registered 15-30 years ago. The mentioned 1,000 companies provide more than 50% of the total revenue of all enterprises in the cou...

A Ukrainian product manufacturer enters the EU market, and Poland is the first step.

A Ukrainian product manufacturer enters the EU market, and Poland is the first step. A producer of ice cream and frozen semi-finished products, Three Bears, has begun its expansion into Europe. For this purpose, the company took an unsecured loan for UAH 210M from Raiffeisen Bank unde...

Friday, May 5

A third of companies in Ukraine lost more than $1M due to the war.

A third of companies in Ukraine lost more than $1M due to the war. Businesses in Ukraine continue to lose money due to the war. As of now, 33% report losses of up to $1M, 37% report losses in the range of $1-$10M, 10% report losses of more than $10M, according to a s...

Friday, April 28

Ukrainian business giants will help their smaller counterparts to resume trade.

Ukrainian business giants will help their smaller counterparts to resume trade. Large Ukrainian companies have united to help restore domestic producers and sellers of goods affected by the war. These companies are OLX, lifecell, Webpromo, Visa, monobank, Ringostat, Nazovni, and ...

Monday, December 19

Blackouts have forced only 1% of Ukrainian businesses to stop working.

Blackouts have forced only 1% of Ukrainian businesses to stop working. According to an European Business Association (EBA) study, during constant power outages over the past two months the instability of electricity supply forced 66% of companies to change their work sc...

The IFC will provide $2B in finances for Ukrainian businesses.

The IFC will provide $2B in finances for Ukrainian businesses. The Board of Directors of the International Finance Corporation (IFC), which is part of the World Bank, has supported a $2B financing program for Ukrainian businesses, Ukraine’s Economy Minister...

Thursday, December 1

Due to blackouts, some Ukrainian companies are ready to stop production.

Due to blackouts, some Ukrainian companies are ready to stop production. Mass blackouts have become a significant test for all business sectors. So far, companies have not been forced to close, but some are already considering the possibility of suspending production, said...

Monday, November 7

The National Bank is assisting Ukrainian exporters in entering new markets.

The National Bank is assisting Ukrainian exporters in entering new markets. The National Bank created the conditions for Ukrainian exporters to participate in tenders for the supply of goods to non-residents. Since November 5, banks have been allowed to provide tender guarant...

Wednesday, September 28

Ukrainian business will be able to borrow billions from the US federal government.

Ukrainian business will be able to borrow billions from the US federal government. The United States Development Finance Corporation (DFC), an agency of the US federal government, is ready to lend money to Ukrainian businesses within the framework of individual projects in amounts r...

Ukrainian businesses have started operating in foreign markets in order to survive.

Ukrainian businesses have started operating in foreign markets in order to survive. According to a Mastercard SME Index study, almost a third of Ukrainian enterprises already operate not only in the domestic market but also for foreign markets. It is noted that currently, among the p...

Tuesday, September 13

Lithuania exempts Ukrainian entrepreneurs from taxes.

Lithuania exempts Ukrainian entrepreneurs from taxes. Ukrainian entrepreneurs (FOP), who moved due to the attack of the Russian Federation on Ukraine, are not obliged to pay taxes or submit a tax return, Lithuanian authorities have officially announced. ...

Tuesday, August 30

Almost 65,000 Ukrainian enterprises remain in the occupied territories.

Almost 65,000 Ukrainian enterprises remain in the occupied territories. About 65,000 businesses (5% of the total legal entities in Ukraine) work in the temporarily occupied territories, reported Opendatabot. With the start of a full-scale war on Ukrainian territory, busin...

Ukrainian business abroad has been exempted from the risk of double taxation.

Ukrainian business abroad has been exempted from the risk of double taxation. Ukrainian authorities have solved one of the key problems of entrepreneurs abroad – the risk of double taxation. In particular, it is now possible to get a certificate confirming Ukrainian tax r...

Tuesday, August 9

Ukraine has developed a methodology for determining business losses due to war.

Ukraine has developed a methodology for determining business losses due to war. The Ministry of Economy, together with the State Property Fund, completed the development of a methodology for determining the losses suffered by enterprises as a result of the Russian Federation’s mi...

Tuesday, August 2

Most Ukrainian entrepreneurs reported a significant income decrease due to the war.

Most Ukrainian entrepreneurs reported a significant income decrease due to the war. According to a Mastercard survey, 79% of respondents stated a decline in business volume. This reduction ranges from 50% to 99% for half of the entrepreneurs. However, every fifth entrepreneur managed...

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