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West Business Hub summarized the results of the Ukrainian business relocation project

22 Apr, 2024
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West Business Hub summarized the results of the Ukrainian business relocation project

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The West Business Hub project, implemented by the NGO "Ukrainian Investment and Trade Facilitation Center" with the support of the USAID Competitive Economy of Ukraine Programme, has summarized the initial outcomes of the Ukrainian business relocation support programme in Lviv.

The focus was on businesses founded by women and family-owned enterprises. West Business Hub assisted with logistics, office or production location searches, workspace setup, and provided financial and consultancy support to companies.

"The USAID Competitive Economy of Ukraine Program actively supports women entrepreneurs in Ukraine, providing them with opportunities to develop their businesses, preserve and create jobs, and acquire new skills. This support is particularly crucial during challenging times when women are forced to overcome obstacles and become more active in business management, ensuring the country's economic resilience. West Business Hub supported the relocation of women entrepreneurs who lost their businesses, and we are pleased to have helped fulfill their development aspirations," commented Olesia Zaluska, head of the USAID Competitive Economy of Ukraine Programme.

According to OpenDataBot, a total of 7,820 Ukrainian enterprises have relocated since the beginning of the full-scale invasion. Of these, 27% moved from Kyiv, while Dnipropetrovsk region (11%) and Donetsk region (8%) ranked second and third, respectively. These numbers represent thousands of Ukrainian entrepreneurs who, despite all odds, continue to develop their businesses, pay taxes, support the country's economy, and employees.

"Ukrainian enterprises faced the challenge of relocation due to the full-scale invasion, and the next step is to support these businesses. Cooperation among entrepreneurs themselves, government, non-profit sector, and others is necessary. This is an important stage in ensuring economic stability," said Irina Tytarchuk, Executive Director of the Ukrainian Investment and Trade Facilitation Center.

The Odessa Journal

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