Gov't launches grant programs for veterans to start their business

According to Ukrinform, Ukrainian Ministry of Economy reported this.

The programs provide several types of grants:

- UAH 250,000 is granted to a combatant and/or a person with a war-related disability (as a result of Russian war in Ukraine), provided that one job is created;

- UAH 500,000 for the spouse of a combatant and/or a person with a war-related disability, provided that two jobs are created;

- UAH 1 million for a combatant and/or a person with a war-related disability who has been registered as a sole proprietor for at least three years, provided that four jobs are created, at least two of which will be held by veterans or persons with a war-related disability.

Grants of UAH 500,000 and UAH 1 million will be provided on the condition of co-financing: 30% of the funds must be invested in their business by the grant recipient, 70% will be provided by the state in the form of a grant.

Entrepreneurs can use the grant funds to purchase equipment, raw materials, supplies, rent premises and vehicles, purchase licensed software, and pay for marketing and advertising services.

"Veterans with entrepreneurial skills will be able to receive financial support from the state in the form of a grant to start or expand their own business. By developing their businesses, they will create thousands of new jobs, including for their fellow veterans. Thus, they will contribute to Ukraine's economic recovery," Yulia Svyrydenko, Ukrainian First Deputy Prime Minister - Minister of Economy, said.

To receive a grant, a veteran or a veteran's spouse must apply through the Diia portal and submit a business plan. After checking the applicant's credit history, documents, and business plan, the applicant must be interviewed by the State Employment Service specialists. Based on the interview, the Service decides whether to grant or deny.

Grant recipients will also be able to receive free training on entrepreneurship and receive consultations at regional employment centers.

As reported, the government's eRobota (lit. "e-job") project includes grant programs to stimulate entrepreneurship and job creation. These are microgrant programs for starting or developing one's business (processing enterprises, orchards, viticulture, greenhouse farming, etc.).

The project was launched at the initiative of Ukraine's Prime Minister Denys Shmyhal, the Ministry of Economy, the Ministry of Digital Transformation, the Ministry of Agrarian Policy and Food, the State Employment Service, and Oschadbank. The UN Development Program in Ukraine joined the initiative with financial support from Sweden.