As of mid-June 2025, there are over 2.171 million registered individual entrepreneurs (IE) in Ukraine. Compared to May 2024, the number of IEs has increased by 70,535 individuals, and from the lowest point in February 2025, it has risen by 35,076.
This is reported by Finway
Dynamics of Registration and Closure of IEs in 2025
Since the beginning of the full-scale war, there has been a net increase of 178,815 individual entrepreneurs. Throughout the spring of this year, the registration of IEs showed steady growth: in March, 20,029 new IEs were opened and 18,477 were closed; in April, 21,517 were opened and 17,618 were closed; and in May, there were 24,572 opened and 16,855 closed IEs.
Seasonality in Entrepreneur Registration
The highest number of registered IEs was recorded in December 2024 — over 2.179 million. As of June 2025, this figure has decreased by 8,342 businesses, but it is expected that by next month, the number of IEs will exceed the record set in December 2024.
“Analysts assure that almost every year in the fourth quarter, there is an increase in the registration of new IEs, followed by a decline. This reflects not so much an increase in entrepreneurial activity as it does the seasonal behavior of single tax payers and tax optimization.”
Thus, trends indicate a stable development of small businesses in Ukraine even amid the challenging conditions of wartime, although certain spikes in IE registrations are seasonal in nature.