Small Business Growth Persists in Ukraine Amid War with Russia

Despite the ongoing war with Russia, Ukraine has witnessed a remarkable surge in small business growth, as evident by the registration of over 200,000 sole entrepreneurs since February 2022. This development reflects the resilience and adaptability of Ukrainians in the face of adversity.

Beginning with 1,946 new sole entrepreneurs registered in March 2022, the numbers climbed steadily throughout the year, peaking at 20,108 in August 2022. While there was a slight dip in the fall, the registration of new sole entrepreneurs rebounded in January 2023 with 16,931 registrations, followed by 16,440 in February and 15,893 in March 2023.

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Number of the new solo enterpreneurs

Month	March 2022	April	May	June	July	August	September	October	November	December	January 2023	February	March
Number of the new solo enterpreneurs	1,946	12,626	15,408	17,950	19,085	20,108	20,136	17,324	15,934	11,951	16,931	16,440	15,893

This uptick in small business growth highlights the determination of Ukrainian entrepreneurs to continue contributing to the country’s economic development, even during times of war. The increase in sole entrepreneurs also underscores the population’s optimism and faith in the future of Ukraine.

As Ukrainians continue to innovate and adapt, the expansion of small businesses serves as a testament to their unwavering spirit and commitment to rebuilding their nation.