The Challenge of Scaling in Ukrainian Business
In a recent interview with Yuriy Romanenko, Serhiy Bondarenko, co-owner of CEO Club and founder of Scale Academy, highlighted a critical issue facing Ukrainian entrepreneurs: a scaling crisis. He pointed out that many business owners struggle to pass their companies on to the next generation or to grow them beyond their own direct involvement, which frequently leads to the business's decline.
"We are witnessing a crisis where many entrepreneurs cannot hand their businesses over to their children or, more broadly, cannot scale them without their personal presence," Bondarenko stated.
Bondarenko began his IT career at CityTrade, a company with roughly 1,500 employees. In 2008, he founded Skywell, a firm that has now operated for over 17 years, serving as an outsourced IT department for Ukrainian banks and insurance companies.
"In essence, there are banks in our country—Ukrainian banks—that are moving away from maintaining their own in-house IT departments. We become their IT department," he explained.
Prior to the full-scale war, Skywell's engineers were active in 230 cities across Ukraine. Bondarenko also emphasized the company's rapid response capability: "If something happens, we can resolve it within four hours anywhere in the country. Even now, even at night, at any time."
Educational Initiatives and Concerns for the Younger Generation
Beyond his business ventures, Serhiy Bondarenko is involved in educational projects. He serves as a mentor on the Growth Factory platform, where an educational program he helped create was launched over two years ago.
"We created this program experimentally more than two years ago. In the very first cohort, we enrolled about 50 participants and achieved a satisfaction rating of 94%," he shared.
Bondarenko expressed deep concern for the future of young people, noting: "Frankly, I feel very sorry for our students and for the future of our generation, given how the entire system is currently functioning."
A graduate of the National Aviation University and president of its alumni association, Bondarenko stressed that he comes from a family of small business owners.
"I am essentially from a family of small entrepreneurs. These aren't oligarchs, just people who have spent their lives cultivating something on the land and selling it," he added.
Bondarenko has navigated several economic crises, yet his company Skywell continues to operate successfully.
"I immediately encountered the first crisis and then every subsequent one that came along—I've lived through them all. But the company exists to this day, for more than 17 years now," he concluded.
Serhiy Bondarenko's comments underscore significant challenges for the Ukrainian private sector, particularly in succession planning and sustainable growth. This issue of business continuity is a common hurdle in emerging economies, where founder-led models often dominate. His experience in the IT sector and Skywell's longevity demonstrate that adaptability and innovation can provide a viable strategy for Ukrainian enterprises to endure and thrive amid constant change.