Over 300,000 new individual entrepreneurs started their businesses in 2023
Which industries saw the most new businesses opening up?
8 January 2024
In 2023, more than 300,000 new individual entrepreneurs and 37,000 new companies were registered in Ukraine. The most popular sectors were retail and wholesale trade, IT, and the provision of individual services.
As of December 29, 2023, there were 304,048 new registrations of individual entrepreneurs in Ukraine. The number of new businesses exceeded the figures from 2021 by 7%.
The most popular areas among new individual entrepreneurs in 2023 were:
- Retail trade
- IT (Information Technology)
- Providing other individual services
- Wholesale trade
- Activities related to providing food and drinks
Among new individual entrepreneurs providing individual services, hairdressers and beauty salons were the most popular, with 18,059 new businesses.
Kyiv emerged as the leader in the number of new individual entrepreneurs, accounting for 14.18% of new businesses. Dnipropetrovsk (8.97%) and Lviv region (7.73%) take the second and third places in the number of new entrepreneurs.
Note that the business registration location may differ from the actual business operations.
How many new companies opened in the incomplete year 2023?
Unlike individual entrepreneurs, new companies are not opened as frequently and have not reached pre-full-scale war levels.
37,297 new companies were opened in 2023. This is one-third less than in 2021 when 56,267 new businesses were registered.
The most popular areas for new companies are wholesale trade, activities of public organizations, and providing social assistance.
Just like with the opening of individual entrepreneurs, most new companies were registered in the capital, in Dnipropetrovsk, and in the Lviv region. These three regions account for almost half of the registrations of new businesses.
It’s important to note that the place where a business is registered may be different from where it actually operates.
Source: Opendatabot
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