Ukrainian government approves SME development strategy until 2027

The government has approved the Strategy for the Development and Digital Transformation of Small and Medium-Sized Enterprises until 2027 and an Action Plan for 2024-2027 to implement it.

The document defines the key areas of state policy in the SME sector, including the restoration of destroyed enterprises based on the principle of “build back better”.

The main task is to create conditions for SME development and provide guidance on where to invest now and during the post-war reconstruction.

The strategy has four main objectives:

restoring and facilitating the process of doing business, which includes access to capital, deregulation and the introduction of new support tools;
innovative development, digital transformation and green transition;
developing human capital and entrepreneurship, including dual education and programmes for women, veterans and people with disabilities;
improving competitiveness and increasing exports.

According to the Ministry of Economy of Ukraine, the implementation of the strategy will lead to an improvement in the index of economic freedom of business by at least 14 points to 75+/100, an increase in the knowledge intensity of gross domestic product to +0.7%, and an increase in the number of exporters to more than 35,000. The unemployment rate is also expected to fall from 18.3% to 11%.

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