Business in war conditions: 83% of companies have employees mobilized in the ranks of the Armed Forces

83% of companies have employees mobilized in the ranks of the Armed Forces, 43% of businesses have mobilized critical specialists, including engineers and IT specialists. This is evidenced by the survey data of 115 top managers of companies — members of the European Business Association, conducted from April 4 to 26.

Photo: facebook.com/GeneralStaff.ua 1

► Read the “Ministry of Finance” page on Facebook: главные финансовые новости

Now, in the ranks of the armed forces, Ukraine is protected by employees of 83% of companies, among which 51% are mobilized up to 10% of conscript workers, 25% — 10-20%, 5% — 20-40%. At the same time, 43% of businesses have mobilized critical specialists, including engineers, IT specialists, electricians, mechanics, machinists, and drivers.

Losses

As a result of hostilities, 38% of companies suffered direct losses, and 21% have assets remaining in the occupied territories (production facilities, land, equipment, transport, real estate, products). Businesses continue to lose funds because of the war — as of now, 33% report losses of up to $1 million, 37% – losses in the range of $1-10 million, 10% – losses of more than $10 million.

Resumption of activity

Despite this, more and more companies are resuming full activity — now 68% of such companies in the Association. In January, 54% of companies were fully operational, and in October 2022 – 44% of companies. With some restrictions, 31% of companies continue to work, and another 1% do not work at all.

The number of businesses that pay full salaries to employees remains consistently high — now it is 90% of those surveyed, and 21% make advance and bonus payments. 10% resort to wage cuts, 2% to layoffs, and 3% of companies send employees on unpaid leave.

Read more: Business positively assessed its prospects for the first time since October 2021 – survey

Assistance of the Armed Forces

“In wartime, regular support of the armed forces is of great importance, and we are glad to note that the Association’s companies continue to provide powerful assistance to the army and the population,” the message says.

Thus, 47% support the Armed Forces financially and support their employees defending the country, 42% provide their products, and 24% provide services for the needs of the armed forces and social purposes.

Financial “cushion”

The financial “cushion” of the business is more or less stable: 25% have financial reserves for six months, 23% – per hour, and 37% – per hour or more. Another 5% have a reserve of financial strength for several months, and 5% have none at all. The current situation is not too different from January of this year.

To support their business in a difficult period, 7% of surveyed businesses used state support programs, including 3% – the “Accessible Credits” program, 3% – compensation for the employment of IDPs, and 1% – other programs.

Conference “Invest Talk Summit” Find out how to make money on investments in 2023-2024! Details on the website.

Promo code for a 10% discount: minfin10.

🕵️ We created a small survey to learn more about our readers.

💛💙Your answers will help us become the best, pay more attention to topics that are interesting to you. 🤗 We will be grateful if you find a minute to answer our questions.

Source: Ministry of Finance

Views: 22