Record number of new sole proprietorships opened in Ukraine in first quarter of 2024 – details

During the first quarter, Ukrainians opened a record number of new sole proprietorships. According to the Unified State Register, from January to March 2024, 74,050 individual entrepreneurs appeared in Ukraine, the Opendatabot platform reported.

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This is 33.6% more than the same period last year and 18% more than before the start of the full-scale invasion in 2021.

Most of the businesses were opened in Kyiv Oblast and Dnipropetrovsk Oblast. The capital remains the undisputed leader.

In the first quarter, 10,252 new businesses were registered in Kyiv, which is 13.8% of the total number.

In second place is Dnipropetrovsk Oblast with 6,828 newly created businesses. Kyiv Oblast rounds out the top three with 5,792 new sole proprietorships.

Entrepreneurs in the field of trade, provision of individual services and IT are leading among new businesses.

25.7% of newly registered sole proprietorships are engaged in retail trade. This is the most popular area for the last four years.

Provision of individual services (8.2%) and computer programming (7.9%) were also among the most popular areas of business among Ukrainian entrepreneurs.

In the first quarter 2024, more than 57,600 sole proprietorships were opened through the Diia portal, which is 41.6% more than in the same period last year. Women register their own businesses more often at 58%.

The Chairman of the Tax Committee of the Verkhovna Rada, Danil Getmantsev, considers the indicators of registration of sole proprietorships to be suspicious. After all, the economy does not grow 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 proprietorships that provide services with 18,059 new businesses.