19 Apr 2022 13:56

Only 41% of Ukrainian companies polled by AmCham Ukraine are fully operational now

KYIV. April 19 (Interfax-Ukraine) - The findings of a survey conducted by the American Chamber of Commerce in Ukraine (AmCham Ukraine) among 103 of its 633 members show that 41% of AmCham Ukraine member companies remain fully operational, 50% continue to work partially, while 29% of respondents have relocated inside Ukraine and another 19% have relocated their business abroad.

After February 24, "41% of AmCham Ukraine member companies are fully operational, 50% continue to work partially, 29% of member companies have relocated within Ukraine, and 19% are relocated outside Ukraine, AmCham Ukraine said on Tuesday in a press release following the Doing Business in Ukraine. Week 8 survey, conducted on April 12-18.

"Fifteen percent of businesses had to close offices in some regions, 2% had to shut down completely," according to the survey results.

It said that 71% of respondents are CEOs and the others are top managers.

When asked to identify what their companies are doing differently at the moment to continue operations, 52% of respondents indicated that they had to reshape business models, 40% implemented cost-cutting efforts, and 20% launched new business directions or services.

Meanwhile, 17% of respondents took projects from the parent offices in other countries, 13% searched for clients outside Ukraine, and 9% searched for financing abroad.

"Unfortunately, 2% of members were forced to sell assets. Only 17% indicated they had no changes at all," the survey results show.

The majority of AmCham Ukraine companies (72%) continue to pay full salaries and provide extra support. Of them, 16% pay full salaries, 6% partially reduced salaries, and 6% of businesses pay 50% of salaries.

Twenty percent of companies reported minor damage to their facilities, 3% have unrepairable damages, 3% have facilities in territories that are not controlled by Kyiv, and 57% of member companies have so far no damage.

"AmCham Ukraine member companies continue to provide support to the humanitarian drive. The most common ways of support are financial support (76%), volunteer drive within the companies' employees (75%), providing in-kind goods (44%), providing services (41%)m providing medicines (24%), providing protection means (17%)," according to the survey results.

Eighty-seven percent of AmCham member companies are ready to actively participate in Ukraine's post-conflict economic restoration, AmCham Ukraine said.