As of the end of July 2026, there were 7,865 businesses and entrepreneurs operating in the jewelry sector in Ukraine, 84% of which are registered as sole proprietors, according to data from the Unified State Register analyzed by Opendatabot. The study was published on August 17, 2026.
In total, there are 6,583 sole proprietors and 1,282 companies operating in the market, engaged in the production and sale of jewelry, as well as the repair of jewelry and watches.
However, the trends in these two segments differ significantly. The number of legal entities in the jewelry industry has been growing for five consecutive years, including after the start of the full-scale war. By the end of 2025, 54 more jewelry companies were registered than ceased operations.
Among sole proprietors, the situation is less stable. In 2021–2022, the number of closures exceeded the number of registrations by 498. In 2023, the segment returned to growth, and in 2024, the net increase reached a record 611 entrepreneurs. However, by 2025, the trend had shifted again—there were 169 more sole proprietorships that ceased operations than new ones.
Kyiv remains the main hub of the jewelry business, with 1,365 registered manufacturers, retailers, and other industry participants.
In second place is the Zaporizhzhia region with 679 enterprises, followed by the Kyiv region with 585, the Kharkiv region with 548, and the Dnipropetrovsk region with 484.
Thus, despite the dominance of small businesses, the structure of Ukraine’s jewelry market is gradually changing: the number of sole proprietorships is declining, while the number of companies continues to grow.
entrepreneur, jewelry business, KYIV, Sole proprietorship, UKRAINE
The packaging materials manufacturer Pak Van LLC (Bila Tserkva, Kyiv Oblast) has been granted member status in the “Bila Tserkva” Industrial Park, according to the Ministry of Economy, Environment, and Agriculture.
According to the announcement, an agreement on conducting business activities within the “Bila Tserkva” IP was signed between the park’s management company, Astrobild LLC, and Pak Van LLC on May 20, 2026.
“Pak Van” manufactures polymer screw caps and PET bottles, as well as other plastic products for beverages, dairy products, cosmetics, and household chemicals.
The company was registered in May 2015; 100% of its authorized capital is owned by Denis Bondarenko, an entrepreneur registered in the Kirovohrad region.
In 2025, the company nearly tripled its net profit compared to 2024—to 14.6 million UAH—while net revenue grew by 5% to 269.2 million UAH. In the first quarter of 2026, it reported 2.8 million UAH in net profit and 60 million UAH in revenue.
The projects of entrepreneur Vasyl Khmelnytskyi’s holding company UFuture—IP “Bila Tserkva” and “Bila Tserkva 2”—were included in the Register of Industrial Parks in 2018. The parks are home to more than two dozen tenants (including foreign companies).
The total area of the parks is 70.3 hectares, of which 45 hectares have already been developed. More than 85,000 square meters of industrial and warehouse real estate have been commissioned.
The cost of bread produced by individual entrepreneurs has increased by approximately 25% since the blackout began, and poppy seed rolls by 40% due to the need to maintain generators, purchase fuel, and cover logistics costs, according to Nina Yuzhanina (European Solidarity), a member of the Verkhovna Rada Committee on Finance, Tax and Customs Policy.
She said that she occasionally buys bread outside the city — in small private bakeries that operate as individual entrepreneurs.
“When there is electricity, production is stable and prices are predictable. When there is no electricity, work is done exclusively on generators with constant fuel costs. The result is already noticeable: the cost of bread has increased by about 25%, and poppy seed rolls by almost 40%. The reasons are obvious: fuel, generator maintenance, and logistics disruptions. This is not a question of excess profits — it is an attempt to cover costs and survive,” she wrote on Telegram.
Yuzhanina stressed that with such an increase in prices for bakery products, it will be difficult to maintain sales volumes, as the additional costs will not disappear.
“There are more than 4,000 sole proprietors (groups 1-3) in Ukraine who are engaged in baking bread. And if, against this backdrop, mandatory VAT payments are introduced for them, it will not only be a blow to small businesses, but a real tax blackout — with the risk of production closures and further price increases,” the parliamentarian stressed.
As reported, the prospect of introducing mandatory VAT payments for sole proprietors in groups 1-3 is currently being considered as part of the adaptation of Ukrainian legislation to EU standards and the National Revenue Strategy, which provides for the gradual abolition of the simplified system in its current form. The main risk lies in a significant increase in the administrative burden: entrepreneurs will have to keep accounting records, register tax invoices, and add +20% to the cost of their goods or services, which may make small businesses uncompetitive compared to large players. Although this decision is aimed at de-shadowing the economy and combating schemes for the use of sole proprietorships by large businesses, for the actual self-employed population, such a step could become a critical financial barrier.
