“My Own Business 2.0”: Entrepreneurs Can Receive Up to 2.5 Million UAH for Business Development
The updated “My Own Business 2.0” grant program launched in Ukraine on September 9. The maximum grant amount has been increased to 2.5 million UAH, and separate funding conditions have been established for launching new businesses and scaling existing ones.
The program is being implemented by the Ministry of Economy and Environment, the Ministry of Digital Transformation, and the State Employment Service. Oschadbank, Sense Bank, and PrivatBank have become partner banks. Over the four years that “Own Business” has been in operation, the government has supported more than 42,000 entrepreneurs, who have created at least 60,000 jobs.
Up to 500,000 UAH to Start a Business
For those just starting out in business, the base grant will be 100,000–300,000 UAH, and with bonuses — up to 500,000 UAH. Creating jobs is not a requirement for this category. Once the grant is approved, the applicant must register as a sole proprietor or LLC within 20 calendar days.
Up to 2.5 million UAH — for scaling up
Existing businesses will be able to receive basic funding ranging from 500,000 to 1.5 million UAH, and with bonuses — up to 2.5 million UAH. A mandatory requirement is the creation of at least one new job.
The program provides for additional bonuses: +5% for entrepreneurs aged 18–25, +20% for certain categories, including veterans, relocated businesses, and internally displaced persons (IDPs) with entrepreneurial experience, +30% for businesses in frontline territories and the restoration of damaged assets, and +50% for enterprises in priority economic sectors.
Priority sectors include manufacturing, energy, transportation and logistics, agricultural processing, the defense-industrial complex, cybersecurity, construction and infrastructure restoration, IT, and other high-value-added sectors.
Grant funds can be used for equipment, production assets, and transportation; rent; digitalization; marketing; automation; and intellectual property protection. The grant does not need to be repaid; however, during the project implementation period, the entrepreneur must pay taxes and social security contributions totaling at least the amount of support received.
Source: Ministry of Economy and Environment of Ukraine
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