How Ukraine’s Small and Medium Companies Operate

by Olha Povaliaieva
Wednesday, December 29, 2021
How Ukraine’s Small and Medium Companies Operate

Small and medium-sized companies have become the backbone of the country’s economy. How things have changed in recent years

There are more than 1 million Ukrainians on the Community of Ukrainian entrepreneurs list. Many of them started their own business 8-10 years ago. Opening a large number of businesses then played a decisive role today. For example, in 2013, the contribution of small businesses to GDP was 14%. Between 2020 and 2021, the share of gross native product generated by small and midsized businesses rose to 55%. The benefaction of little companies alone was 16%.

In such a situation, some enterprises have to repair or change equipment to more modern ones, search for new ways of realization, and promote ideas.

Despite this, businessmen from Ukraine are practically unlimited in searching for additional resources to advance the case. For example, marketplace Rozetka in collaboration with transnational financial services corporation Visa, has created a project that will help small enterprises to make themselves known all over Ukraine. Recently, within the framework of the project, 5 best companies were selected, which will get a chance to be advertised throughout Ukraine. Today the most popular way to sell their products in Ukraine is through social networks and other means of communication.

You will be interested