MasterCard: Ukrainian entrepreneurs are convinced that it will take up to three years to restore a business

Almost all Ukrainian entrepreneurs who have suffered from the war continue to work or are ready

resume its activities.

What is known

This is the results of a new studymastercard. 61% of entrepreneurs continue to work, despite logistical difficulties and falling sales. At the same time, 91% of those who have suspended their activities are ready to resume it.

The MasterCard study states thatRussia's invasion of Ukraine has significantly reduced the income of small and medium-sized businesses. 78% of respondents note a reduction in sales volumes. At the same time, half of the entrepreneurs emphasize that their business has decreased by 50-99%.

The new reality forces businessmen to developadaptation skills. In particular, 17% of entrepreneurs who decided to transform their activities refocused on the country's defense needs. Almost the same number of firms moved to another area, and 13% moved their capacities to other regions of Ukraine or abroad.

41% of businessmen surveyed predict that theybe able to return to pre-war levels within a year. Almost a third (30%) of the entrepreneurs surveyed believe that they will need 1-2 years, and about a quarter (23%) of the respondents believe that recovery will take 2-3 years.

In addition, active business distinguishes three typeskey needs. These are new orders / markets (56%), development funds (33%) and assistance in solving logistical problems (23%). It should be noted that despite all the troubles, 74% of the interviewed entrepreneurs transfer money for the needs of the Armed Forces of Ukraine.

The MasterCard study indicates that now inIn Ukraine, the number of businesses that accept payment for goods / services in a non-cash form is increasing. If in the early days of a large-scale invasion, only 8% of entrepreneurs accepted non-cash payments, now the share has grown to 87%. Moreover, 24% of those surveyed are considering accepting cryptocurrency, while 10% are already doing so.

Note that MasterCard has beenof a large-scale invasion to support business, turned off the interchange fee for cashless payments in Ukraine. In addition, together with the Ministry of Digital Transformation, a consultation center Diya.Business in Warsaw for small and medium-sized businesses was opened to help those entrepreneurs who ended up abroad.

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Half of the Ukrainian enterprises are reconciling, which at the end of the day they know to achieve one to three milestones – Mastercard access

  • 61% of Ukrainian SMEs continue to practice the war, adapting their business to the new reality;

  • 9 out of 10 entrepreneurs who started their business after the war are ready to start a new job for the future;

  • 53% are concerned that the business will need one to three years before showing the pre-war level;

  • 70% of customers win digital sales channels. For 39% of the few working businesses, such channels bring in more than half of all promotions;

  • 87% of businesses give customers the opportunity to pay without preparation, and ten percent accept payment in cryptocurrency.

Kyiv, September 1, 2022 – The majority of Ukrainian enterprises (61%) are in the future, in the form of relocation, in terms of the logistics and the change in sales obligations to continue the pratsuvati, and 91% are quiet, and 91% are ready to win at the future.These are the results of the Mastercard SME Index, within the framework of which the country and the key consumers of small and medium business in Ukraine have been reached, and the prospects have turned to the indicators of the pre-war market. 

Mill and main consumer of small and medium business

79% of the total number of people who have a decrease in the cost of the business, and for half of the enterprises, the speed of the business is 50% to 99%.At the same time, the dermal enterprise (19%) or the new age (2%) was used to protect the business of the pre-war period.

Adapting to the new reality, the skin is differentpripriyemets (50%) buv zmusheny transform your business activity. Most of the changes were due to reorientation of the business to the defense needs of the country (17%), to the transition to the other sphere of business (16%) and the transfer of contractions in the other regions of Ukraine or abroad (13%).

For the purpose of the renewal of the business, 30% are able to predict the return to the pre-war demonstrations by stretching the rock, 30% are to be able to achieve the vision of one to two years, and 23% of the population can be able to achieve the vision of one to two years, and 23% of the most important things, which can be achieved in two or three years.In the middle of the main needs of active business – new changes and markets (56%), costs for development (33%) and additional assistance with logistics (23%).

At the same time, the Ukrainian enterprises are actively donating money for charity and volunteer initiative – 74% of the population declare it. 

Digitalization and unprepared payment

Active documentation is typical for the majority of representatives of small and medium businesses in Ukraine.For example, 70% of companies use digital sales channels, as well as popular social media (40%) and a website(33%).With an estimate of 39% of the most important products, the digital channels themselves bring more than half of all the products.  

"With the extension of the remaining rocks, we have bachili, as the digital transformation will help the Ukrainian enterprises to develop, and the annual ditalizatsiya nabula is of special significance.Ukrainskiy maliy ta seredniy biznes vbachaje v ts'omu vazlivu umov dlya svogo vvidlennya ta zrostannya, i s positiv u budut u budne.In the second third of the Ukrainian small and middle business of the digital channel, the potential and the need for further documentation are obvious.It has an important role for the future of Ukrainian entrepreneurs, and we have a lot of support for the development of our own technologies, innovations and expertise," said Inga Andriyeva, General Director of Mastercard in Ukraine and Moldova. 

Кілкіст бізнівівіві застіві застєє.For example, 8% of the company's payments were made for the first time.By waiting for the results of the service, 87% of the business will be accepted from the non-commercial form – through the POS-terminal, to the bank's bank bank for additional assistance from digital services.At the same time, the third of the enterprises is consolidated, so that the greater amount of payments falls on the bezgotivka(90-100%).

For example, according to the results of the service, it is necessary to pay for goods and services in cryptocurrency, and 24% of the business can be seen in the future. 

Protyazh bagatioh rokiv Mastercard activelypromoting Ukrainian small business and middle business, launching special financial products, services and initiatives, promoting the expansion of SME opportunities and using modern payment technologies. From the beginning of a large-scale invasion for the supplementary support of businesses, Mastercard has timely paid the interchange commission for non-prepared retailers in Ukraine. In addition, in partnership with the Ministry of Digital Transformation of Ukraine, Mastercard has launched a consulting center Diya.Business for Ukrainian SMEs near Warsaw, to help these businesses, as if they were behind the cordon.

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Mastercard also announced the launch of a newinitiatives within the framework of the Start Path program, developed specifically for Ukrainian fintech companies and enterprises, to give start-ups the opportunity to develop their own development and encourage the economy of the country. For the donation support to Ukrainians, and the development of programs for small businesses, the company raised 3 million US dollars through the Mastercard Impact Fund.