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How Russian aggression has affected small and medium-sized businesses - polls and infographics

15.03.2023

Source: nv.ua 

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One in four representatives (24%) of small and medium-sized businesses stated a complete lack of reserve funds.
This is evidenced by the results of a survey * conducted by the European Business Association among representatives of SMEs - participants in the Unlimit Ukraine project.
One third of respondents (32%) report that the period of financial stability of their business will be several months. Another 22% expect one month. 9% of respondents expect a half-year strength reserve, and only 5% of SMEs surveyed will be able to hold out for a year or more if they fail to resume operations.
"Currently, 42% of small entrepreneurs do not work at all, another 31% have suspended, but want to resume their activities. Only 13% of SMEs continue to work in full, which is generally in line with the trends in the business environment in general (17% of EBA member companies are currently working in full), ”the Association said in a statement.
14% of SMEs said they had to limit their activities geographically, and 3% closed some outlets or branches. At the same time, 13% went to work online. Only 4% of SMEs currently plan to close their business.

Infographics: European Business Association

Despite limited resources, business owners try their best to support their employees, often at their own expense:

- 27% continue to pay wages in full;

- 8% pay additional funds or salary in advance;

- 29% of surveyed entrepreneurs took additional measures to support their employees, including financial and psychological assistance, assistance with evacuation and housing.

At the same time:

- 21% report a lack of ability to pay wages;

- 19% were forced to cut payments;

- 17% send staff on unpaid leave;

- 8% - to dismiss people.


51% of the surveyed SME representatives plan to receive state assistance in the amount of UAH 6,500, 19% either do not plan to do so or are in a region that is not covered by this payment.SMEs are also actively involved in assisting the army and defense. The vast majority of respondents (67%) help financially, 26% provide services, 24% supply products, 10% - medicines, 9% - means of protection / defense. Another 18% of companies support their employees, who are currently defending the country. Entrepreneurs also join the struggle on the information front, volunteer, provide transport, and support displaced persons and refugees.

* The survey was conducted from March 11 to 14 among individual entrepreneurs participating in the project to support small and medium-sized businesses from the European Business Association Unlimit Ukraine. 156 entrepreneurs took part in the survey.

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