On the first Sunday of September, Entrepreneur of Ukraine Day is celebrated (Ukrainian). Adoption Day), which was established by Decree of the President of the country № 1110/98 of October 5, 1998 in order to celebrate the important role played by this sector of the economy in the formation of a new economic system, the development of democracy and civil society.
Currently, economic activity in Ukraine is implemented in various forms of ownership (state, communal, collective, private) and various organizational and legal forms of management that are permitted by law.
The Constitution of Ukraine, in Article 42, proclaimed the right of every citizen to engage in types of business activities that are not the prerogative of the state or are not prohibited by law. Legislative acts on these issues should, first of all, include the Laws of Ukraine «On Property», «On Entrepreneurship», «On Enterprises», «On Business Companies», which define the general legal, economic and social foundations for carrying out such activities.
In this way, the country is trying to create conditions for the implementation of the constitutional right to entrepreneurship, and its freedom is guaranteed.
The Law «On Entrepreneurship» (№ 698-12 of February 7, 1991) states that business entities may be:
- citizens of Ukraine, other states, private entrepreneurs;
- legal entities of all forms of ownership established by the Law of Ukraine «On Property».
The Law stipulates freedoms and restrictions in carrying out business activities, basic principles, organizational forms and conditions for carrying out business activities.