On October 24, the representatives of BDO in Ukraine participated in the Summit “Co-investment and financing businesses: results and new opportunities” organized by USAID.
The event focused on business sustainability in the face of economic challenges caused by the military actions in Ukraine. The main attention was paid to the lack of financing, loss of markets and complicated logistics. The event assembled leading Ukrainian companies which are developing and expanding successfully, despite the current challenges.
The event showcased the initial outcomes and future plans of the USAID Project “Investment for Business Resilience Activity” (IBR). In partnership with the Ministry of Economy of Ukraine, small and medium-sized enterprises have already obtained access to $15 million in funding to mitigate risks, enhance resilience and boost production. Future plans include expanding grant opportunities (from $250,000 to $2 million) to help businesses grow even in difficult times.
“The new grant program from USAID is yet another testament to the support Ukraine receives from our partners. It will help to facilitate the development of the processing industry, enabling a transition from exporting raw materials to exporting value-added goods. The current objective is to restore competencies in the production of complex goods and at least double the manufacturing industry’s contribution to Ukraine’s GDP. Our goal is to increase this figure from 8% in 2022 to 20%, in line with OECD standards for developed countries. This goal is achievable by 2032.” — said Yuliia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine.*(Government Portal)
The USAID summit focused on the following key matters:
1. Financial support for business during the war: first year results
- Assessment of the war’s impact on the financial condition of the business and the results of the support received by Ukrainian enterprises.
2. Opportunities for small and medium-sized enterprises to obtain affordable financing
- Discussion of the circumstances under which financial institutions are willing to cooperate with SMEs to offer cost-effective financing.
3. Macroeconomic perspectives: key insights for strategic planning
- Analysis of the economic situation in Ukraine and a forecast of key indicators crucial for business strategies.
4. Recovery strategy, sustainable development and digital transformation of small and medium-sized enterprises
- Experience and approaches to recovery of the business through digital transformation and sustainable development.
5. War risk insurance for lending and investment
- Insurance for business: asset protection and mitigation of investment risks. International support programs: opportunities from investment security funds.
6. Direct support from the IBR project for Ukrainian companies during the war
- IBR’s direct support programs designed to assist enterprises in adapting and maintaining their business operations.
7. Gains for the business from the USAID grant program “Investing for Business Resilience Activity” (IBR)
- Reports on the success achieved by companies through participation in the IBR program, including successful cases of development and financial sustainability and discussion of typical challenges faced by companies in their recovery.
These topics formed the basis of the discussion at the business summit, offering participants the opportunity to receive practical advice and establish important contacts for the advancement of their businesses.
Furthermore, USAID Project partners showcased funding opportunities, particularly for the companies affected by the war and for female entrepreneurs.
The Summit convened over 300 participants, including representatives from enterprises, financial institutions, government organizations, business associations and USAID experts. The participants addressed opportunities to attract financing, increase production and enter new markets.
The following experts presented their reports:
- Raphael Jabba, Chief of Party of USAID “Investment for Business Resilience Activity”, Julie Koenen, USAID Ukraine Mission Director, and Yuliia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine, presented a strategy for supporting businesses during wartime through the IBR project. Their presentation highlighted the significance of international assistance and domestic resources in supporting enterprise recovery.
- Yuliia Vitka, Deputy Chief of Party of USAID “Investment for Business Resilience Activity”, summarized the results of the first year of business financing during the war and outlined future plans.
- Oleksii Sobolev, First Deputy Minister of Economy of Ukraine, presented the government-approved Strategy for the Recovery, Sustainable Development and Digital Transformation of Small and Medium-Sized Enterprises (SMEs) until 2027. It pays special attention to the “green” transition, digital transformation, innovative development and inclusiveness of business, including women, people with disabilities, internally displaced persons (IDPs) and veterans. The document incorporates the OECD recommendations, is in line with the EU-Ukraine Association Agreement, and is also consistent with the Ukraine Facility Plan. It is a clear and comprehensible action plan, the implementation of which will be supported by €7 billion.
- Yuriy Heletiy, Deputy Governor of the NBU, highlighted the macroeconomic perspectives of Ukraine, focusing on the implications for strategic business planning.
- Panel discussions with Polina Kosharna, Co-Owner and CEO of Suziria Group, and Volodymyr Mudryi, Chairman of the Board at OTP Bank, explored opportunities for small and medium-sized enterprises to obtain affordable financing, while also discussing available war risk insurance options for lending and investment. The participants considered the possibilities of obtaining financing from project partners such as OTP Bank (lending), Credit Agricole Ukraine (leasing), and Activitis through the eDilo platform (factoring).
- Another panel discussion was devoted to supporting medium-sized businesses through co-investment, where companies raise own capital or loan funds for development. Participants included UTERM Ukraine, Suziria Group, KARAT LLC, and DELTA FOOD, who shared their experiences. War risk insurance for lending and investment was discussed separately with presenters from Raiffeisen Bank, INGO Insurance Company, and ARX.
- Particular attention at the event was drawn to case studies showcasing the success of companies that have benefited from IBR’s programs. Speakers from a variety of industries shared their experiences of participating in the project, outlining how the financial and advisory support they received enabled them to develop their businesses. They provided concrete examples of increased production, expanded exports and the introductions of new technology, all made possible through collaboration with project partners.
- These cases demonstrate how small and medium-sized enterprises can achieve significant results through IBR’s comprehensive approach, which integrates financing, expert counsel and support at all stages. The following video provides further insight into the achievements of these companies, with business representatives sharing their impressions and results of cooperation with the project.
The UASID Summit provided business representatives with new opportunities to find financial resources and tools to adapt to the difficult conditions of war and reconstruction.
BDO in Ukraine actively assists businesses in finding new development opportunities, offering expert advice to help them use their resources and investments efficiently. Our wide range of services includes statutory audit (IT-audit, audit of Diia.City residents), tax consulting, transfer pricing, accounting outsourcing, legal services and business consulting.
In addition, our services include expertise in corporate finance and asset valuation. If your business requires support in attracting investment, participating in grant programs or identifying favorable credit solutions, we encourage you to contact us. Our team of experts is ready to help you find the best ways for your business to grow and succeed, as your sustainability and development is our priority.
