Floods are only the latest challenge to conducting business in Ukraine, as the invasion of the country has inflicted both a human and economic toll. However, Ukrainian businesses have been surprisingly resilient, according to a survey by partner Mihir Mysore and coauthors. While 63 percent of businesses have suffered significant negative effects in some form, only 2 percent suspended operations completely.
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A pair of segmented horizontal bar graphs display details of the impact of the war in Ukraine on Ukrainian businesses. The top bar shows the impact on operations: only 2% of survey respondents said that the war has had a high impact with suspension of operations, followed by 63% who said they think that although the impact has been significant, there had been no suspension of operations; 20% said that there had been a low impact with minimal effect; 15% said that the war has had a positive effect on operations with no impact. The bottom bar shows the impact on sales, with 19% indicating a more than 50% decrease, 28% saw a 30–50% decrease, 31% saw a 10–30% decrease, 20% saw a less than 10% decrease, and 2% saw a more than 0% sales increase.
Source: American Chamber of Commerce in Ukraine in collaboration with McKinsey.
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To read the article, see “Survival through purpose: How Ukrainian businesses endured amid extreme uncertainty,” May 10, 2023.