How to get a grant for business in Ukraine

Although grant programs in Ukraine are quite popular today, not everyone knows how to get a grant for the development of their own business in the country. What is the relevance of the chosen topic?

Therefore, in this article, we will talk about how to get a grant for business in Ukraine.

What is a grant?

A grant should be understood as monetary financing or the provision of other assistance that is given to citizens or legal entities for conducting scientific research, training, developing or creating regulations, drafting laws, training personnel at the enterprise, and other purposes for conditions determined by the grantor.

In addition, such financing is provided free of charge, and the received funds usually do not need to be returned if all the conditions of the grant program are met.

Who issues the grant?

In practice, the vast majority of grant programs are financed by funds received from various countries of the world, international institutions and organizations, charitable foundations, private individuals, etc.

However, funding under the grant program is provided only for the targeted use of funds, which is indicated by the grantee in the submitted business plan.

What are the state grants?

As of 2024, the following grant programs from the state exist in Ukraine, namely:

• Grant "Vlasna sprava";
• Grant for veterans and spouses;
• Grant for a processing enterprise;
• Grant "Svoy Sad";
• Grant "Your Greenhouse";
• A grant for the implementation of a startup, including in the field of IT;
• Funds for training in IT specialties.

What is required to receive a grant?

To receive a grant, you must follow the following algorithm of action, namely:

• Submission of an application for a grant program with the mandatory addition of a completed business plan or financial justification of the business project.;
• Analyzing the submitted application, evaluating the business plan, and interviewing with a potential recipient of grant funds;
• Receipt of grant funds to the created bank account in the event of a positive decision by the grantor regarding funding;
• Submission of appropriate reporting to the grantor about the targeted spending of funds allocated to the winner in the grant program and the achievement of the previously set goals.

Importantly! Applying for grant funds does not mean 100% funding from the grantor. Therefore, a rational solution in such a situation would be to simultaneously submit several applications for different grant programs in order to increase the chances of winning grants.

In addition, a potential applicant who wishes to receive funding under the selected grant program must also meet the conditions of the grant (for example, create a new working place, conduct economic activity within a certain period after receiving financing, pay taxes to the state, etc.).

What can grants be used for?

Usually, grant funds can be used for the development of one's enterprise or its creation from the very beginning, the purchase of various equipment for conducting business activities, the expansion of the enterprise's production capacity, the increase of the range of products and goods, the improvement of various technologies at the enterprise, the hiring of additional employees, the investment of funds in advertising campaign and marketing and much more depending on the selected grant program.

What are the deadlines for receiving and using grants?

For the most part, the terms of receiving funding within the grant program depend on the terms of consideration of applications by grantors and vary from 10 working days to 2-4 months.

The terms during which grant funds must be used in the vast majority are from 6 months to 1 year.

If you still have questions about how to get a business grant, in this case, contact the Prikhodko and Partners law office.

The company's specialists specialize in providing proper legal support at all stages of obtaining grant funding, as they have many years of practical experience in working with these legal issues. So don't delay and contact us!