The government launches the “eWork” program. Ukrainians will be able to receive a grant to start their own business

Oleksiy Yarmolenko

The Cabinet of Ministers is launching a new program "eWork". Ukrainians will be able to receive up to UAH 250,000 to start their own small business.

The press service of the government writes about it.

"Any Ukrainian who has a business plan and a firm intention to start his own business can count on the support of the state. We plan to issue 20,000 such grants a year. Accordingly, the program budget for the year is UAH 5 billion. We are talking about the possibility of starting any microbusiness, such as sewing clothes and shoes, dry cleaning, service or repair center, service stations, installation work, etc.," said Prime Minister Denys Shmyhal.

According to him, any Ukrainian who does not work at other enterprises and does not have his own business can take part. To receive money, you need to submit an application through "Diia" or in the branches of the OshchadBank together with the attached business plan.

"Within 10 working days, experts from the Oshchadbank and the State Employment Center will evaluate the project, and if it meets the criteria of the program, the grant funds will be transferred to your account," said Shmyhal.

He stressed that these funds will be allocated to a separate bank account. From it you can buy equipment, raw materials, materials, buy tools or partially pay the rent.

Such entrepreneurs will also be entitled to a soft loan under the 5-7-9 program in the amount of up to UAH 2.5 million. Such funds can be spent on the construction or reconstruction of premises, the purchase of additional equipment or working capital financing.

  • On April 15, 2020, Prime Minister Denys Shmyhal announced the expansion of the Affordable Credits 5-7-9% program. The changes provided for an increase in the level of annual income, an increase in the maximum loan amount, and an expansion of the list of needs for which an entrepreneur can take a loan.
  • Earlier it was reported that banks refused half of the entrepreneurs who applied for loans under the state program "Affordable loans 5-7-9%." This is stated in a survey of the Union of Ukrainian Entrepreneurs.