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Figure of the day: In February, more than 36,00 sole proprietors shut down—record number since winter of 2017

In Ukraine, more sole proprietors shut down in February than set up—why this happened. Photo: The Page

In Ukraine, more sole proprietors shut down in February than set up—why this happened. Photo: The Page

Since the beginning of this month, 36,632 individual sole proprietors have shut down in Ukraine, while only 25,719 have set up. In general, there are 1,986,117 active sole proprietors in the country today, according to data from OpenDataBot.

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The most massive shutdown of sole proprietors in Ukraine occurred in January-February 2017, when a law came into force that obligated all individual entrepreneurs to pay a single social security tax (in January 2017, 168,237 sole proprietors shut down, and 18,821 set up; in February—67,436 against 40 867 respectively).

As Maksym Tiutiunnykov, Chairman of the Board of the Association of representatives of small and mid-sized businesses of Kyiv, told the outlet Ukrainian News, the dynamics have changed dramatically for three main reasons:

  • the fact that sole proprietors of 2-4 groups are obliged to use payment transactions recorders (PTRs) in their work from January 1;
  • news about a potential Russian invasion of Ukraine;
  • higher utility charges and tariffs for renting premises.

Context. Recall that from 2022, sole proprietors of 2-4 groups are required to use cash registers. On January 1, 2022, the deferment of the law on the mandatory use of payment transactions recorders (PTRs—cash registers) for sole proprietors came to an end.

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