More and more Ukrainians are choosing the Czech Republic to start and develop their own business

FromJanuary to September 2023, 55 thousand private entrepreneurs were registered inthe Czech Republic. Nine per cent of them have Ukrainian citizenship.

Before thewar, the share of Ukrainians starting their own business in the Czech Republicwas 1-2% annually. These are the findings of an analysis by the Czech CreditBureau (CRIF), according to proukrainu.blesk.cz.

Accordingto the report, there are 360,000 more Ukrainians in the Czech Republic thanbefore the large-scale invasion of Russia. Therefore, many of them have decidedto start a business.

CRIFanalyst Vera Kamenichkova said that during the current year, by the end of thethird quarter, 4,904 Ukrainians had set up their own businesses, which is about545 per month. Thus, it can be assumed that this year will surpass the previousyear, when an average of 476 Ukrainian entrepreneurs were registered per month,and the total number was 5709.

Whichregions of the Czech Republic are most often chosen for starting a business?

The largestnumber of Ukrainians started their own business in Prague - 1,733 people, whichis 19% of the total number of new individual entrepreneurs in the capital. Thisis a third of all Ukrainian entrepreneurs who started a business in the CzechRepublic in 2023. In the Ustecký region, 625 Ukrainians started a business, andin the South Moravian region, 432.

At the sametime, in terms of the business sectors in which most Ukrainians haveregistered, the construction industry is the most popular - 1,919 people, whichis 39%. This is 25% of all new entrepreneurs in this sector.

Accordingto Vira Kamenichkova, construction has always been a popular industry forUkrainians, as it does not require a deep understanding of the local languageand allows them to start a business almost immediately after arrival.

The secondmost popular industry for new entrepreneurs is manufacturing (19%), with 922Ukrainians registering.

According to thestudy, most new entrepreneurs from Ukraine are aged between 18 and 40. Ofthese, 35% are in the 18-31 age bracket, and 36% are aged 31-49.