New registration data for the first quarter of 2026 shows that Ukrainian business activity remains geographically concentrated in stable economic hubs. Kyiv leads by a wide margin, followed by Lviv, Dnipropetrovsk, Kyiv region and Odesa, while frontline and border regions continue to post the weakest startup numbers.
The structure of new companies also highlights clear sector priorities. IT showed one of the strongest year-on-year increases, real estate registrations accelerated sharply, and transport, construction, and wholesale trade stayed among the largest contributors. This points to a market that is still adapting to wartime risk but continues to build around scalable service and infrastructure demand.
Key signals from Q1
- Core business geography remains stable despite security volatility.
- High closure numbers in large regions reflect market rotation, not collapse.
- Digital and operational sectors are shaping the next growth cycle.
Overall, the quarter confirms that Ukraine’s entrepreneurial base is not disappearing; it is rebalancing toward safer locations and more flexible business models.
