Massive rocket attacks affected the work of half of EBA businesses in Ukraine

The Russian missile attacks on Ukrainian infrastructure in October affected the work of almost half of the companies of the European Business Association (EBA) writes The Village.

EBA is the largest business association in Ukraine, which includes almost a thousand European, Ukrainian and international companies, such as Google, DCH, Bosch, Lifecell, Glovo and others. 47% of surveyed businesses reported that the shelling had a negative impact on their work.

“A number of companies were forced to suspend work due to the lack of electricity and the Internet and for security reasons, which led to a partial loss of orders, suspension of projects, and downtime,” – commented in EVA.

Among the association’s member companies, 44% operate at full capacity, 53% operate with limitations, and only 3% are not operating. The situation has worsened compared to the summer. So, in July, 49% worked full-time, and there were none at all who stopped working.

Among businesses that operate partially, half have limited the geography of work, a third have closed part of their offices, retail outlets or branches, and a quarter has moved their activities online.

79% of companies continue to pay employees in full, 18% do so with advance or additional payments. This is more than in July, when 61% of companies paid full wages.

15% of businesses cut wages, 8% were forced to send employees on unpaid leave. Another 7% are cutting staff.

85% of EBA companies have employees who enjoy temporary protection status abroad. 61% of surveyed companies have up to 10% of their staff abroad, 20% of companies have 10-40%. In 4% of businesses, more than 40% of the team is located abroad.

73% of businesses claim they have enough financial resources for operation and development. The period of financial stability is estimated by 61% of companies to be a year or more (in the summer, this indicator was 46%).

Another 26% expect to be financially stable for six months, and only 6% expect it to be several months.

5% of companies have no financial reserves. In July, they were 2%.

47% of businesses have lost property or assets directly due to hostilities. For 40%, these are losses of up to $1 million, another 35% reported losses in the range of $1–10 million, and 15% reported losses of more than $10 million. Only 5% of businesses suffered no losses.

At the same time, 57% of businesses support workers who protect the country: 47% help financially, 43% with products, 24% with services, 17% with medicines, and 14% with means of protection. 83% of businesses are ready to join the post-war reconstruction of Ukraine.

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