Ukrainian Business Development 2023

by Roman Cheplyk
Tuesday, February 21, 2023
Ukrainian Business Development 2023

76% of Ukrainian businessmen plan to expand companies in 2023

Ukrainian businessmen and startups have always been determined, and due to the war has become an even more incentive. Many organisations not only continue their work, pay taxes, and volunteer services but even expand their activities.

According to the results of the study by the European Business Association within the framework of the project Unlimit Ukraine, 76% of owners of small and medium-sized businesses want to expand their activities in 2023. 28% will open branches in other cities and regions. 26% are ready to open new directions related to their field of activity. 25% of businessmen consider entering the foreign market. 21% are ready to increase the staff.

Entrepreneurs use their own funds (30% of respondents), loans (21%), and borders (10%) to expand the zone of influence.

Another proof that Ukrainians do not give up becomes the index of indicators regarding the work of enterprises under blackout conditions. According to the survey, 46% of organisations change their work schedule due to power consumption restrictions. 8% completely shut down due to Russian attacks on the power facilities of Ukraine. But 20% temporarily suspend work and continue to provide services to people.

Recall that a map of investment opportunities in Ukraine was recently launched.

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