100 grants of €5,000 each from EU4Business to help Ukrainian microbusiness

On August 20, 2024, a new wave of grants was presented under the EU4Business Grants for Microbusiness Program funded by the European Unionта Government of Germany.

Micro-entrepreneurs from the most affected regions of Ukraine will be able to receive financial support of up to EUR 5,000 in UAH equivalent to implement measures to recover their business activities through two authorized banks: Oschadbank and PrivatBank.

"We stay committed to help Ukrainian SMEs combat the consequences of the war and return to growth, market expansion and greater trade and business partnerships, especially with the EU. So far our EU4Business programme with GIZ has disbursed around EUR 7.5 million to help the Ukrainian SMEs survive and cope with war-induced shocks and disruptions of business operations. We have adjusted the grant conditions to align with the objectives of the Government programmes, such as eRobota, and continue to act in synergy with these initiatives for greater impact and economic result", said Henrik Huitfeldt, Head of the Department for Public Finance, Business Support and Social Policies of the EU Delegation in Ukraine.

As a result of the previous three competitions held from August 2023 to April 2024, 779 entrepreneurs from all over Ukraine (except for the temporarily occupied territories) received support totaling about UAH 120 million. The majority of grants were awarded to individual entrepreneurs, with more than half of these microenterprises owned and operated by women.

"Financial support under the Microgrant Program was primarily provided to entrepreneurs from the regions most affected by the war, as the top five regions by the number of grants awarded are Sumy, Chernihiv, Kyiv, Kharkiv and Mykolaiv," said Andriy Gapon, Chairman of the Board of the Business Development Fund.

The new competition is open to microenterprises that:

• have up to 10 employees and an annual income of up to EUR 2 million;
• operate in the regions most affected by the war (Dnipropetrovska, Donetska, Zaporizka, Kyivska (except Kyiv), Luhanska, Mykolaivska, Sumska, Chernihivska, Kharkivska, Khersonska, Odeska oblasts) regardless of the type of economic activity;
• have a positive credit history;
• have no debts to the budget of Ukraine;
• have not received international technical assistance since February 1, 2022.

Grant support for micro, small, and medium-sized enterprises in Ukraine is an effective tool for ensuring business continuity and restoring the country's economic development. After all, it is SMEs that are driving economic change on the road to recovery and development. The de-occupied and most war-affected regions of Ukraine need additional financial resources to quickly restore economic activity, said Hagen Ettner, Director of international cooperation programme "EU4Business: SME Recovery, Competitiveness and Internationalization Programme", funded by the European Union and the German Government.

The rating system of the Business Development Fund will automatically determine the winners based on the following criteria: the level of damage caused by the war, the type of economic activity of the enterprise, the quality of the use of grant funds, the location of the enterprise in the de-occupied territories, and the social responsibility of the enterprise in terms of employment of veterans and people with disabilities.

To participate in the competition you need to:

1. Fill out an application on the program website.

2. Correctly indicate information about the company's performance before the war and during the hostilities.

3. Identify areas for the use of microgrant funds that cannot be changed during their further financing.

Applications will be accepted from 02.09.2024 to 30.09.2024.

Background information:

The planned wave of grants will contribute to the realization of the goals of the government initiative #eRobota under the auspices of the Ministry of Economy of Ukraine.

EU4Business grant competitions are implemented under the international cooperation program "EU4Business: SME Recovery, Competitiveness and Internationalisation", co-financed by the European Union and the German Government and is implemented by the German federal company "Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH". The implementing partner of the EU4Business Microgrant Program - Business Development Fund.

Information partners: Enterpreneurship and Export Promotion Office, national project for the development of entrepreneurship and export Diia.Business. Authorized banks: Oschchadbank, та Privatbank.

EU4Business is an umbrella initiative that includes all EU support to small and medium-sized businesses in the Eastern Partnership countries. Read more:www.eu4business.org.ua

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