Almost 31,000 sole proprietorships cease operations in Ukraine in 2024

Almost 31,000 sole proprietors ceased their activities in the first four months of 2024. Most often, businesses are closed in Kyiv, Kharkiv Oblast and Dnipropetrovsk Oblast, according to data from Opendatabot.

23% of closed sole proprietorships, 7,300 businesses, started their work last year.

Most entrepreneurs who ceased their operations work in the field of:
– retail trade — 34.9%.
– computer programming — 10.1%
– wholesale trade — 6.2%.

The largest number of businesses are closing in Kyiv — more than 3,800. Kharkiv Oblast is the second worst region with almost 2,400 businesses. Dnipropetrovsk is third: almost 2,400 sole proprietors also ceased their activities there.

Odesa and Lviv oblasts also saw many entrepreneurs cease their operations  — 7.7% and 6.8%, respectively.

During the first quarter, Ukrainians opened a record number of new sole proprietorships.

In January-March 2024, more than 57,600 sole proprietorships were opened through Diia, which is 41.6% more than in the same period last year. Women register their own businesses more often – 58%.

The Chairman of the Tax Committee of the Ukrainian parliament, Danil Getmantsev, considers the indicators of registration of sole proprietorships to be suspicious. After all, the economy is not growing as fast as the number of new businesses.

In 2023, more than 300,000 registrations of new sole proprietorships and 37,000 new companies were registered in Ukraine. Hairdressers and beauty salons were especially popular among sole proprietors that provide services – 18,059 new businesses.