Ukrainians continue to maintain their economy despite Russian aggression
8 May 2023
Despite the ongoing military conflict and power outages, Ukrainian entrepreneurs continue to create new businesses. According to the State Registry of Legal Entities and Individual Entrepreneurs, as of April 2023, there are almost 2 million registered individual entrepreneurs and over 1.2 million companies in Ukraine. Even more impressive, the number of newly registered businesses exceeded the number of closed ones by 5.6 times.
While the crisis caused by military actions and widespread blackouts continues, the number of closed businesses did not reach a record high during the first year of full-scale war.
As of April 2023, 203,921 individual entrepreneurs closed their businesses in the past year. In previous years, on average, 260,000 individual entrepreneurs closed their businesses per year in Ukraine.
The number of newly created businesses exceeds the number of businesses that ceased operations, with 208,936 new individual entrepreneurs registered during the same period.
Despite the challenging environment, entrepreneurship in Ukraine continues to thrive, with over 32,000 new companies registered during the Great War, while only 5,728 businesses ceased operations and became inactive.
As of April 2023, there are 1.9 million registered individual entrepreneurs and 1.2 million companies in Ukraine, a testament to the resilience and determination of Ukrainian entrepreneurs.
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