Regional Development Agencies (RDAs) emerged in Ukraine in the mid 1990s, with their position and effectiveness gradually improving since the adoption of the Constitution in 1996 and the Law on Local Self-Government in 1997.

By the credit of the President of Ukraine from 12.05.98 and later in the Low of Ukraine "About state support of small business" from 19.10.00 UFES was stated as an organization that performs financial securities for realization of state Entrepreneurship support policy on the national level.