State grant up to 500,000 UAH for business: who can apply and how to submit an application

State grant up to 500,000 UAH for business: who can apply and how to submit an application

According to ХВИЛЯ: The 'Own Business' program offers Ukrainians the opportunity to receive a state microgrant for starting or expanding a business, with maximum amounts up to 500,000 UAH in frontline areas. This initiative is part of the 'eWork' program aimed at supporting entrepreneurship in Ukraine.

Grants can be obtained by Ukrainian citizens, individual entrepreneurs (FOP), and companies with Ukrainian beneficiaries. However, to participate in the program, applicants must not:

• work in temporarily occupied territories;
• be under sanctions;
• have budgetary debts;
• have corruption convictions.

The maximum grant amount for most regions is up to 250,000 UAH. In eight frontline regions, the maximum grant amount can reach 500,000 UAH. The grant can be used for:

• purchasing equipment;
• buying raw materials;
• rent;
• marketing and advertising;
• leasing or commercial concession.

Applicants can receive:

• up to 150,000 UAH for creating one job;
• up to 250,000 UAH for creating two jobs;
• up to 75,000 UAH for individuals who register as FOP.

To apply, it is necessary to do so online. The application review process takes 15 working days. After receiving a positive decision, the applicant must contact Oschadbank within 20 working days.

Opportunities for business development

The 'Own Business' program creates opportunities for business development in Ukraine and supports entrepreneurs in difficult times.

This program is an important step in stimulating economic development in Ukraine, especially in the context of military aggression and economic challenges.

Source: Official website of the 'Own Business' program

Ensuring access to financing for entrepreneurs can contribute not only to the creation of new jobs but also to stabilizing the business infrastructure in frontline regions. Importantly, the program provides opportunities for various categories of businesses, including FOP and companies, to adapt to new conditions and continue their activities.