The government to provide 77 million UAH in microgrants for start-ups and business development under the Own Business programme – Ministry of Economy
It is expected that 323 Ukrainians will receive funds as part of the sixth wave of applications
The government will provide microgrants amounting to 77 million UAH to support the initiation and development of businesses for 323 Ukrainians under the Own Business programme in the sixth wave of applications. Since the beginning of 2023, microgrants have already been provided to 1,555 entrepreneurs.
This is reported on the website of the Cabinet of Ministers.
According to Tetiana Berezhna, Deputy Minister of Economy of Ukraine, "a total of 1,555 Ukrainians have received microgrants amounting to almost 370 million UAH since the beginning of 2023. In the process of implementing their business projects, they will create 3400 jobs, as one of the key conditions for providing a microgrant is the creation of 1-2 new jobs by the entrepreneur depending on the amount of the grant."
It is noted that the vast majority of entrepreneurs who received microgrants plan to use these funds to purchase the necessary equipment for their businesses. The most popular sectors are wholesale and retail trade and vehicle repair – 96 people, temporary accommodation and food service activities – 58 people, and manufacturing industry – 46 people.
As reported by the Ministry of Economy, this year the Own Business programme has a budget of 1.8 billion UAH, which will allow the provision of approximately 10,000 microgrants.
Recall that according to the Own Business programme, Ukrainians can receive a microgrant from 50 to 250 thousand UAH. The grant can be used to purchase equipment, raw materials, and rent premises. This programme is available for both experienced entrepreneurs and newcomers. The condition for providing a grant is the creation of 1-2 jobs. Ukrainians who received grants in 2022 created about 8000 new jobs.
Background. The USAID programme announced a new grant of $1.5 million for businesses aiming to promote their products in international markets.
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