On 26 August, the Cabinet of Ministers of Ukraine adopted a resolution amending the Procedure for Providing Microgrants for Starting or Developing a Business.

The document, developed by the Ministry of Culture and Strategic Communications, expands opportunities for entrepreneurs in the creative industries, specifically:

• Increasing the maximum microgrant amount for entrepreneurs in culture and creative industries;
• Expanding the list of eligible expenses covered by the grant (including specific creative services such as text editing, audio and video processing, post-production, and royalty payments);
• Introducing flexible participation conditions for various business formats – from freelance individual entrepreneurs to companies creating new jobs.

Microgrant amounts:

• UAH 100,000 for freelance individual entrepreneurs;
• UAH 200,000 for businesses creating 1 job;
• UAH 500,000 for businesses creating 2 jobs with co-financing;
• UAH 1 million for businesses creating 4 jobs with co-financing.

The amendments allow both freelancers, whether already registered or newly registering as individual entrepreneurs, and legal entities in the creative industries to access grants for business development.

Previously, the microgrant programme’s rules did not account for the specifics of creative professions, causing creative entrepreneurs to often lose out to manufacturing or agricultural businesses in competition for funds.

“Thanks to the new conditions, more creative industry businesses will be able to receive financial support, develop their ideas, and create cultural products in Ukraine,” said Acting Minister of Culture and Strategic Communications Tetiana Berezhna.

Creative industries have already proven their potential: in 2020, they contributed over 4.2% to Ukraine’s GDP (UAH 132.4 billion). Every hryvnia invested in this sector generates nearly UAH 2 for the economy.

The programme’s implementation will promote market transparency, increase tax revenues, and create new jobs in design, fashion, music, folk crafts, and other creative fields.

Support for creative industries is seen as a strategic investment in economic recovery, cultural development, and building a competitive, modern Ukraine. Funding for the programme will come from existing entrepreneurship support funds.

Source: https://www.kmu.gov.ua