Trends in Grant Financing of Small and Medium-Sized Businesses in Ukraine in 2020-2024: A Verified Quantitative Analysis

Abstract

Abstract. The article presents a comprehensive study of grant financing trends for small and medium-sized businesses (SMBs) in Ukraine during 2020-2024, based on verified official data from the Ministry of Economy of Ukraine, the Cabinet of Ministers of Ukraine, USAID and the EBRD. The relevance of the topic is driven by the need to systematise the accumulated data on SMB grant support across three qualitatively distinct phases: the pre-pandemic and pandemic period (2020-2021), the first year of full-scale invasion (2022), and the active recovery and European integration phase (2023-2024). The purpose of the research is to identify structural shifts in grant utilisation dynamics and to develop an original classification of grant flows by sources and programmes. The methodological framework is based on statistical analysis of verified official data, comparative methods, and structural-dynamic analysis. The study establishes that the state grant programme eRobota provided support to 22,700 entrepreneurs with a total of UAH 11.0 billion from July 2022 to December 2024. Total SMB grant financing including USAID programmes reached the equivalent of over USD 290 million for 2022-2024. A structural shift towards manufacturing and the IT sector was identified. An original five-category classification of grant flows by donor type is proposed. The practical value of the study lies in forming an analytical basis for improving national grant policy and increasing entrepreneurs' awareness of available instruments.