In the latest issue of Forbes magazine, Valerii Yakovenko, co-founder of DroneUA, shared his perspective through the lens of his own experience. He founded his first sole proprietorship in the mid-2000s; over the past 20 years, it has grown into an international business specializing in the production and distribution of unmanned aerial vehicles, with NASA among its clients. According to the entrepreneur, DroneUA’s total revenue stands at $135 million.
“The simplified tax system is a window of opportunity for starting a business,” says the expert.
However, when it comes to scaling a business, the simplified system is viewed differently. Valerii notes that for some entrepreneurs, the transition from the standard taxation system remains a barrier, even though in practice it is not overly complicated and does not result in a significant increase in the tax burden, even for larger businesses. The company’s own experience only confirms this:
“At a certain stage of DroneUA’s development, we operated both as an LLC and maintained my sole proprietorship, using it to provide certain services, such as repairs. A sole proprietorship is simpler, but scaling is only possible up to a certain point. Of course, for some, this format will be enough for a lifetime, because the business won’t exceed the limits. But for others, the market itself pushes them to change their approach,” the expert shares.
Read the full interview at the link below:
DroneUA thanks Forbes for covering a topic of relevance to Ukrainian business.
