Ukraine’s commitments to SME development show some progress in deregulation and simplification of administrative procedures, but there is still room for improvement. The overall business environment continues to deteriorate and there is no coherent approach to SME policy making, no efficient strategy, policy tools or resources. Directives remain on paper and without implementation. Lifelong entrepreneurial learning will require greater engagement of all stakeholders working in partnership, particularly to address entrepreneurship as a key competence at all levels of education. Improved intelligence on enterprise skills will be critical to policy making and allocation of resources for training. Women’s entrepreneurship requires better policy, follow-up actions and more advocacy. Important initiatives taken in innovation policy, access to finance and SME support tools have seldom been enforced. The institutional framework for SME policy making needs strengthening and support with public-private dialogue and monitoring tools as well as provision of business services and export promotion.