Over 120,000 Ukrainian entrepreneurs report closure in 2024 – Opendatabot
Source: Opendatabot
In the first eight months of 2024, over 194,000 new sole proprietorships, known as FOPs, were registered, while just over 120,000 decided to call it quits meaning that 1 in 3 new businesses shuts down within their first year of operation.
This year’s startup enthusiasm, though, has outpaced pre-war levels when 186,144 new FOPs were launched. In 2024, the number of new businesses was 1.6 times greater than those that closed.
It is worth noting that Ukrainian women are leading the charge. This year, a record-breaking 60% of new entrepreneurs are women, compared to 55.6% in 2023 and just 47% in the first year of the full-scale war.
On average, closure comes after 29 months of operations. Ukraine’s capital, Kyiv, remains the hotspot for new ventures, with 26,303 FOPs registered—13.6% of the total. Other active regions include Dnipropetrovsk (18,025), Lviv (14,459), Kyiv Oblast (14,428), and Kharkiv (12,954).
Trade remains the go-to sector for new entrepreneurs, with a third of them working in this sector. The IT sector continues to attract attention, drawing in 7.6% of new businesses, while personal services account for 7%. Interestingly, while cafes and restaurants were among the top choices last year, this year, they’ve been overtaken by information services.
Five armored vehicles “Kozak” have received a new mission – thanks to the support of Metinvest, they have been upgraded to full-fledged command and staff vehicles. These upgraded vehicles are now operating on the front line.
A kamikaze drone flies directly toward an armored personnel carrier. But instead of penetrating the hull, it explodes on a steel screen. The crew survives. This is the new reality for Ukrainian forces, who have received enhanced protection thanks to the Metinvest project within “Steel Front of Rinat Akhmetov”.
To commemorate the third anniversary of the full-scale invasion, “Bukvy” has compiled data on the largest donors supporting the Armed Forces of Ukraine. Among them there are charitable foundations and businesses. The list includes, in particular, foundations that provide assistance exclusively from their own resources, without fundraising (such as SCM by Rinat Akhmetov, Epicenter, etc.).
In just 1.5 months, Ukrainian specialists have created an innovative protective shell for the control modules of anti-aircraft missile systems (AMS) Patriot and Iris-T SLM. This development was another step in strengthening Ukraine’s defense capabilities, aimed at protecting key elements of the air defense system from debris damage.
Military serviceman of the International Legion for the Defense of Ukraine with the call sign “Paradox” is the crew commander of the American M113 armored personnel carrier. He is a master at using it and is constantly improving, because the legionnaire’s skills are tested every day in battle. You have to drive to the front lines, often under artillery fire and drone attacks.