Fedosieieva H.S., Doctor of Economics, Associate Professor of the Department of Management and Marketing, Mykolaiv National Agrarian University, Mykolaiv, Ukraine

ORCID ID: 0000-0003-4201-8017
e-mail: fedosieieva@mnau.edu.ua

Women’s Entrepreneurship in Ukraine’s Economic Growth: Trends and Prospects

Abstract. Introduction. Women’s entrepreneurship is a powerful driver of Ukraine’s economic growth. It contributes to job creation, GDP growth, and the development of small and medium-sized businesses. It plays a particularly key role in the country’s post-war recovery. Women entrepreneurs are investing in manufacturing, technology, and services, diversifying the economy and making it more resilient to modern challenges. However, their progress is hindered by several barriers, such as limited access to financing, gender stereotypes, bureaucratic obstacles, and tax burdens. Studying this topic is extremely relevant because women’s entrepreneurship could be a key factor in Ukraine’s economic recovery.

Purpose. This paper aims to examine the role of women’s entrepreneurship in Ukraine’s economic growth and identify its trends and prospects. To achieve this goal, this paper analyzes the economic impact of women’s businesses, identifies the main problems, and suggests solutions. This study is based on an analysis of modern scientific publications, statistical data, and practical cases of Ukrainian women entrepreneurs.

Results. A recent study found that, in 2024, women accounted for 61% of new sole proprietorships in Ukraine, which is a record high compared to previous years. The main areas of activity for women-owned businesses are retail, services, and technology. However, most women entrepreneurs face financing difficulties, which limits their ability to grow their businesses. The analysis showed that women entrepreneurs are more likely to use digital technologies, social media, and marketplaces to grow their businesses. The study also identified the specific challenges faced by internally displaced persons (IDPs), women from rural areas, and women with disabilities, who require special support programs.

Conclusions. Women’s entrepreneurship in Ukraine is showing positive dynamics and is an important element of economic recovery. However, a number of challenges slow down this process. To stimulate the development of women’s businesses in Ukraine, it is necessary to expand access to financing, introduce educational programs, improve the legal framework, develop infrastructure that supports work-life balance, and actively promote women’s entrepreneurship. Implementing these measures will boost women’s economic participation and promote the sustainable growth of Ukraine’s economy.

Keywords: Women’s entrepreneurship, economic growth, financing, gender stereotypes, business initiatives.

References:

1. Aparicio, S., Urbano, D., Audretsch, D., & Noguera, M. (2019). Female and male entrepreneurship during the economic crisis: An institutional tale of European countries. Revista de economía mundial, 51, 163–184.
2. Alon, I., Elston, J. A., & Tarabishy, A. (2021). The role of government in supporting female entrepreneurs in crisis contexts. Administrative Sciences, 11(2), 45. https://doi.org/10.3390/admsci11020045.
3. Agrawal, R., Sharma, P., & Kumar, S. (2023). Strategies among women entrepreneurs to cope and sustain during crisis. Journal of Enterprising Communities: People and Places in the Global Economy, 17(2), 280–298. https://doi.org/10.1108/JEC-03-2022-0035.
4. Petrenko, I. V. (2023). Women’s entrepreneurship in Ukraine: Problems and development prospects. Naukovi zapysky ekonomichnoho fakultetu, 1, 67–74.
5. Karyi, O. I. (2024). Trends in the development of women’s entrepreneurship in Ukraine. Efektyvna ekonomika, 2. https://doi.org/10.32702/2307-2105.2024.2.9.
6. Ministry of Economy of Ukraine. (2023). Analytical report on the state of women’s entrepreneurship in Ukraine. Kyiv (1-48 c.)
7. Abt Britain & Kyiv School of Economics. (2024). Needs and problems of Ukrainian women entrepreneurs during the full-scale war. https://kse.ua/wp content/uploads/2024/01/Problemi_ta_viklivi_zhinok_pidpriyemits_310124.pdf.
8. OpenDataBot. (2024). 61% of new sole proprietorships were opened by women this year. https://opendatabot.ua/analytics/women-enterpreneurs-2024?utm_source=chatgpt.com.
9. Ukrainian Center for Investment Promotion and Trade. (2024). Portrait of Ukrainian women entrepreneurs. https://business.diia.gov.ua/news/onovleno-rezultaty-doslidzhennia-portret-ukrainskykh-zhinok pidpryiemyts?utm_source=chatgpt.com.
10. The Times. (2024). Female-led firms outperform rivals. So why is raising cash so hard? https://www.thetimes.com/business-money/companies/article/female-led-firms-outperform-rivals-finance-s235q6dw5.