Improvement of the Procedure for Providing Grants for Starting or Developing Your Own Business from the Cabinet of Ministers of Ukraine
The Cabinet of Ministers of Ukraine has amended the Procedure for Providing Microgrants for Starting or Developing Your Own Business:
- expanding opportunities for the use of grant funds;
- reducing the number of documents to be submitted to the bank to confirm expenses;
- abolition of the maximum amount of grants to be provided during one application period.
The Government has allowed entrepreneurs to use grant funds not only to lease non-residential premises, but also land plots to be used for commercial and industrial purposes. The government has canceled the cap on the amount of grants to be awarded during one application period. From now on, decisions on all positive results will be made within one wave without postponement to the next wave.
This will accelerate the receipt of grant funds by entrepreneurs and subsequently the creation of new jobs.
