The first 10 young Ukrainians received grants under the “Own Business” program
14 November 16:56
10 Ukrainians under the age of 25 have become the first winners of the youth component of the Vlasna Sprava grant program and will receive one and a half million hryvnias to start their businesses. This was reported by the Ministry of Economy of Ukraine, Komersant ukrainskyi
reports.
With the support of the state, young Ukrainians will be able to start their own business and realize their potential in entrepreneurship.
“We have the first 10 winners of the “Own Business” grant program among young people. In particular, young entrepreneurs plan to produce clothing and accessories, confectionery, furniture and household goods, open a manicure room, and a fitness center,” said Yulia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine.
How many Ukrainians have already taken advantage of the “Own Business” program?
In total, over two years of the grant program, almost 21,000 Ukrainians have become winners, and the state has invested UAH 5 billion in their businesses. Following the 21 waves of the program, 443 winners have been selected to receive grants worth UAH 107 million. Among the recipients of the twenty-first wave of microgrants, 58% are women, 34% are men, and 8% are legal entities. 75% of them have higher education. The majority of grantees are from Lviv (47), Kharkiv (35), Kyiv (35), Vinnytsia (29), and Kyiv (39) regions. The vast majority of grantees plan to spend the microgrant funds on purchasing equipment necessary for running their business.
The most popular areas in which the winners of the twenty-first wave will work are:
– wholesale and retail trade, vehicle repair – 157 people
– temporary accommodation and catering – 65 people;
– processing industry – 61 people;
– other types of services – 46 people.
Who can benefit from the “Own Business” grant program
Both active entrepreneurs and people with no experience in such activities can receive a microgrant. To receive a grant of more than UAH 75 thousand, a prerequisite for receiving funds is the creation of 1-2 jobs, depending on the amount of the grant. Ukrainians can receive microgrants from UAH 50 to 250 thousand. Young people under the age of 25 can receive a grant of up to UAH 150 thousand with an obligation to register as a sole proprietor, but they are not required to create jobs. The grant funds can be spent on the purchase or leasing of equipment, purchase of raw materials and supplies, and rent of premises.
How to get a grant
Grant applications are submitted through the Diia portal along with a business plan. The program is administered by the State Employment Service. Information on obtaining a grant under the Start Your Own Business program can be found on the program’s website.
