Starting an IT Company in Ukraine

Monday, January 18, 2022
Starting an IT Company in Ukraine

Currently, the IT sector occupies one of the first places among all relevant areas of activity in the market and is developing at a rapid pace

This is not surprising because work in this field is mostly associated with a stable income and career growth.

So, where to start if you plan to open your own IT company in Ukraine? 

The IT field, like any other, should solve the problems of people who turn to you for services, so you need to decide for yourself what issues of a particular person or group of people you will solve. Also important at the start is that you need to think about whether you will create your unique product or provide services to other companies.

If you plan to create your product, in the beginning, your team may consist of only one person, one of you, to create an application or program for PC or Smartphones. And with further development on success, you will start to build a company around you with more people and more serious projects. 

For an outsourcing company, it is also realistic to start with yourself. Still, it is better to reinsure yourself and take one or two developers to fulfill orders and communicate with the client promptly.

Start an IT company or create a project for those who have the desire, an idea based on the right needs of the audience and market analysis, who have the start-up capital and understanding of what a dream team should be. The latter is the most important. 

The idea must be digitized, turned into an action plan. Before starting an IT company, you need to understand why you create this business. It is good if, at the start, you can outline the mission and define the fundamental goals of your project. 

Speaking of the financial side of starting a company, the start-up budget may not be huge, you may have enough of your funds for $1.500-3.000, which will be used to rent coworking space or office space, and advances to one or two developers and other professionals. which can be outsourced: designers and marketers. However, your initial budget will be significantly reduced if you know how to write programs yourself.

Of course, there is the side of communications and workflow planning, for which it is essential to use a variety of task managers, such as Trello.

You should also think about protecting your product. For example, your company writes software. It is necessary to record who owns the rights to the created product. To do this, an employment contract is signed with all employees, which states that "all property rights to intellectual property belong to the company in exchange for wages."

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