Business law amendments
Ukraine has been making many efforts in recent years to make its business climate more attractive for investors. However, a lot remains to be done.
There are literally 256 082 legally binding documents governing every aspect of life in Ukraine. Among them - more than 5 000 that can potentially have an impact on doing business. This is way too much, right?
Starting a business, acquiring all the necessary licenses, permits, subsidies, participating in tenders, paying taxes, arranging partnerships, signing contracts, and god forbid, - bankruptcy, - all this is enough work for a whole army of lawyers. It shouldn’t be this difficult, should it? The state’s primary interest should be in supporting the independence and self-reliance of all businesses, big and small. So that the people can easily earn money, afford a good living and pay taxes to make the whole system work properly.
Of course, it would have been perfect if most administrative business affairs could be done online, digitally, fast and efficient. Some of them already are, but for many necessary “business chores” business owners have to be physically present at one or another state institution. The same goes for a very complicated, difficult and lengthy bankruptcy procedure. It wouldn’t have been that bad if at least the bankruptcy legislation was stable - but changes almost every six months! It creates a lot of problems, legal loopholes, doors for abuse and in the end a very big confusion.
Therefore, we would like to find out, what would business owners like to improve in Ukrainian business legislation?
What legal difficulties has your business experienced in Ukraine?
What foreign examples of efficient business laws do you know?
Who knows, it could be the start of a nation-wide project :)
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