The war damaged 83% of companies’ business in Ukraine.

About 83% of EBA members experienced a drop in business performance last year. Compared to October 2022, the number of companies whose operations have been affected by missile attacks has almost doubled from 47% to 89%, the European Business Association (EBA) said. At the end of the year, most companies reported a drop in revenues and only 6% of respondents reported no change and 11% recorded an increase in income. Due to the war, power outages lead the list of urgent business challenges, though companies also complain about communication and internet outages and have problems hiring employees and traveling abroad. Due to hostilities, 40% of companies suffered direct losses and 25% have assets in the occupied territories. Business losses remain quite high: 32% reported losses up to $1M, 36% in the $1-10M range, and 16% over $10M.