Business News, 14/04/2019

EU Ambassador to Ukraine Confirms Support for Small and Medium-Sized Businesses

This week, Hugues Mingarelli, EU Ambassador to Ukraine, arrived in Kharkiv. During his visit, the ambassador took part in Kharkiv SME Day Forum.

Mr. Mingarelli assured the European Union will continue to cooperate with the Kharkiv region’s enterprises and will actively participate in the implementation of those projects that have been launched lately. In particular, great attention is being paid to the development of small and medium-sized businesses.

“In Kharkiv, we have started Information Support to Business center, founded with the assistance from the European Bank for Reconstruction and Development at the Kharkiv Chamber of Commerce and Industry, to inform the business about existing market opportunities,” noted the EU ambassador.

Oleh Ivanov, the owner of Velotrade company, is one of the project’s participants. “We found out about EU4Business program which supports small and medium-sized businesses last year. In the Kharkiv office of the European Bank for Reconstruction and Development, we received qualified assistance on conducting marketing research to learn more about bicycle customers’ needs and which directions to take in order to develop our company on the market.”

“During three months, the consulting company’s specialists questioned buyers and sellers throughout Ukraine. It turned out that many little things impact on the final customer’s choice, from the color of the model to safety requirements for cyclists,” added Ivanov.

Due to the study results and marketers’ suggestions, the company expects to get 30-percent sales growth and even more.

After examining Velotrade achievements, Hugues Mingarelli expressed satisfaction that the invaluable EU assistance and resources, with the support of European Bank specialists, helped the enterprise, as the goal European partners wanted to achieve is seeing Ukrainian companies strong and successful.

 Reference: The EU4Business program works in various countries. It aims to provide sustainable growth for small and medium-sized businesses. In Ukraine, the program has been operating since 2010, and today more than 1,000 projects have been implemented in the country. The Kharkiv office of the European Bank for Reconstruction and Development was opened in December 2016. Last year, with its assistance, 20 projects were implemented for the region’s enterprises. By April 2019, about 15 new projects have been launched.

Text: Natalia Ivanova