Thursday, October 31
A third of companies in Ukraine lost more than $1M due to the war.
Friday, May 5, 2023
Businesses in Ukraine continue to lose money due to the war. As of now, 33% report losses of up to $1M, 37% report losses in the range of $1-$10M, 10% report losses of more than $10M, according to a survey by the EBA.
Despite this, 68% of companies have resumed full-time operations, reported the Business Association. Also, 31% of companies continue to operate with some restrictions, and another 1% do not operate at all. At the same time, 10% of businesses have resorted to cutting wages, 2% to layoffs and 3% have sent employees on unpaid leave.
It is noted that most businesses’ financial cushion is more or less stable: 25% have financial reserves for half a year, 23% for a year, and 37% for a year or more. Another 5% have a financial margin sufficient for several months, and 5% have none.
