In Ukraine, most jewelry manufacturers and retailers are sole proprietorships
There are currently 7,865 jewelry manufacturers, retailers, and repair specialists for jewelry and watches operating in Ukraine. The vast majority of them are sole proprietors.
“There are currently 7,865 jewelry manufacturers, retailers, and repair specialists for jewelry and watches operating in Ukraine. Of these, 6,583 are sole proprietors and 1,282 are companies,” the report states.
The largest concentration of jewelry sellers and manufacturers is in Kyiv—1,365 businesses.
The top five regions with the highest number of jewelry businesses also include:
- Zaporizhzhia Oblast—679 businesses;
- Kyiv Oblast — 585;
- Kharkiv Oblast — 548;
- Dnipropetrovsk Oblast — 484.
According to analysts, individual entrepreneurs in the jewelry sector are more likely to close their businesses than to start new ones.
In 2021–2022, the number of closures exceeded the number of new registrations by 498 sole proprietorships.
In 2023, the market began to grow again, and 2024 set a record for growth—the number of entrepreneurs increased by 611.
However, by 2025, the trend had reversed: there were 169 more closures than new registrations.
Unlike sole proprietorships, jewelry companies show more stable growth. Their number has grown every year, including after the start of the full-scale war.
Last year, 54 more jewelry companies were established in Ukraine than ceased operations.
The five largest companies among those that filed financial reports for the past year collectively generated over 4.68 billion UAH in revenue.
In 180 jewelry companies, citizens of other countries are listed as ultimate beneficial owners.
The most common nationalities among them are:
- Israel — 22 companies;
- Turkey — 20;
- Russia — 19.
There are also citizens of Georgia, the United States, and Uzbekistan among the owners of jewelry businesses in Ukraine.
Of the 19 active companies with beneficiaries from Russia, only one reported revenue over the past two years. This is the Bila Tserkva Jewelry Factory, which earned 10,900 UAH in revenue in 2023.
OpenDataBot reported this, citing data from the Unified State Register.
The number of new business registrations in Ukraine is increasing, but this trend alone does not indicate real economic growth. According to Danil Getmantsev, the statistics do not show how many companies and entrepreneurs are actually operating, creating jobs, and paying taxes.
In 2026, the number of new sole proprietorships exceeded the number of closures by nearly 40,000, according to OpenDataBot.
Ukraine is preparing a major update to the rules governing financial transactions for small and medium-sized businesses.
Banks will extend transfer limits to newly established and “dormant” sole proprietorships.
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