The face of Ukraine’s small business sector has changed. In the first half of 2026 the number of women entrepreneurs rose by approximately 32 000, while male entrepreneurs increased by only 8 100, so women accounted for 78% of the net increase in individual entrepreneurs (FOP). The war, mobilisation and relocations have forced many Ukrainian women to take the family’s finances into their own hands, and increasingly they are doing so through their own enterprises.
How the share of women has changed
A few years ago men and women registered FOPs in roughly equal numbers. Then everything changed. Some started earning from scratch after evacuating to a new city, some took over a family business while their husband serves, and others finally turned a hobby into an income.
| Period | Share of women among new sole proprietors |
|---|---|
| Q2 2022 | 43,3% |
| Q2 2023 | 56,4% |
| 2024-2026 | about 60% |
Data from the analytics system YC.Market show that in Q2 2026 women registered 46,3 thousand FOPs versus 30,7 thousand for men. It is important to understand that the 78% figure refers specifically to the net increase, i.e. the difference between registrations and closures of FOPs.
Why women are starting businesses
Not always out of desperation. In 2024 the Ministry of Digital Transformation researched the needs of women entrepreneurs, and about 74% of respondents said they started their own business because they saw an opportunity. Circumstances also pushed them: business closures and layoffs, relocation, and the mobilisation of men. Online trade and digital services, which do not require an office, help, as do grants that cover equipment and startup costs.
The sectors have long moved beyond manicures and flower shops. In Q1 2026 women made up 92% of new FOPs in accounting and auditing, 83% in education and healthcare, 68% in advertising and marketing, and 67% in retail trade, real estate and hospitality. IT deserves a special mention: the net increase of women FOPs in that sector for the quarter was 2 133, one of the largest figures among all industries.
Where to get money
Registering a sole proprietorship can be done online in minutes, but growing a business without capital is hard. Bank loans are often inaccessible to beginners: there is no credit history, savings or collateral. In October Oschadbank together with international partners launched the “Women's Business” programme for roughly 5 thousand participants, combining loans, grants, training and counselling. Here are the instruments available or in preparation:
- loans for franchises up to 5 million UAH within the “Women's Business” programme;
- up to 10 million UAH for investment projects in agribusiness;
- preferential loans under the state programme “5-7-9%”;
- loans up to 1 million UAH with compensation of up to 50% from BLOOM (Prosper Global), which are still only planned;
- grants up to 8 thousand euros in the “Rukh vpered” programme with the participation of GIZ and NUR.
Entrepreneurs do, however, prefer grants. According to FinanceHer, 93% of those surveyed favour grants because loans intimidate them with interest rates and collateral requirements.
How it works in practice
Liudmyla Hdychynska from Cherkasy region runs the family business “Ferma Krolikoff”. A state grant helped modernise production and create jobs, and a concessionary loan funded a solar power station that is useful during power cuts. In Brovary Olesia Taran combined her own funds, state support and an investment loan from Oschadbank and turned educational courses into the PROSVITA lyceum for grades 9–11 with its own shelter.
What holds them back
More registrations do not mean every business is profitable. Women entrepreneurs lack employees and working capital, equipment is becoming more expensive, power goes out, logistics are complicated and demand fluctuates. Besides money, they need advice on taxes, accounting and dealing with banks, because even a successful online store can find itself without funds to restock after a seasonal sales drop.
At the same time the market is generally reviving. According to Opendatabot, in the first nine months of 2026 Ukraine registered 66 643 more sole proprietors than were closed, and closures (155 645) were 27% fewer than last year. In Q4 new credit and grant instruments for women-led businesses from international partners are promised, so the share of women among entrepreneurs is unlikely to decrease in the near future.
