Ukrainian business demonstrates resilience in the face of a full-scale war and finds new tools for development. The share of companies operating at full capacity has increased, and they have stopped losing clients and customers, which indicates that business activity stabilized in 2023. More and more Ukrainian companies are finding a source of growth in entering foreign markets.
These data are published in the annual Kyivstar Business survey, which is based on a survey of business representatives of various sizes and industries.
“Kyivstar works closely with Ukrainian business, being a reliable partner and provider of innovative services. To offer relevant solutions, we are constantly researching changes in the business environment and the transformation of our partners’ behavior. The results of this survey show a trend towards increased business activity, as well as more intensive implementation of business innovations, revision of strategies and portfolio of goods and services,” comments Kostiantyn Vechir, B2B Director of Kyivstar.
The overall business situation has improved. Most of the surveyed companies (62%) are operating at full capacity, another 24% are operating with some restrictions, and 5% have closed. The reasons for the shutdown varied. One of the reasons mentioned by respondents was the mobilization of employees. However, some owners and managers managed to run their companies even from the ranks of the Armed Forces.
More and more companies are entering foreign markets. Over the year, Ukrainian business has managed to strengthen international cooperation. Thus, over the past year, the number of companies working with foreign markets increased from 4% to 17%. These are mainly representatives of IT and industrial production.
Employees are returning to their offices. Almost 50% of companies worked completely offline in 2023. The hybrid format of work remains important (32%), but is no longer as popular as before. Only 18% of companies worked entirely remotely within Ukraine, and 3% from abroad.
Companies’ profitability is low, but there is progress. 32% of surveyed companies reported an increase in profits, compared to only 20% in 2022. At the same time, 48% of businesses have reduced their profits, although in 2022 58% said this. Financial stability was maintained by 6% of companies that did not record any changes in profits.
Businesses continue to adapt their work processes. The most popular changes include redistributing employees’ responsibilities (38%), short-term planning (31%), and changing usual business processes (29%). While 30% of companies were forced to reduce staff, 14% of companies expanded their staff.
Companies are actively using new technologies to optimize their operations. The most frequently mentioned tools by business representatives include artificial intelligence, cloud services for working with documents (for example, Microsoft 365), CRM, and more.
Read more about the survey results on Kyivstar Business Hub.
Number of applicants per vacancy (comparison) as of 01.07.2023
Source: Open4Business.com.ua and experts.news
The capital’s wine restaurant Wine Love has reopened its doors to visitors at 100 Velyka Vasylkivska Street. After a long pause, the restaurant was reopened, preserving the concept of a wine neo-restaurant with modern European cuisine, a selected wine list and an atmosphere that loses the sense of time.
Since the beginning of the full-scale war, the restaurant’s kitchen has been working as a volunteer center and preparing about 1000 meals a day for the Ukrainian military. Currently, the Wine Love team has equipped a separate kitchen at another location. This allowed not only to preserve the food for the defenders, but also to resume the full-fledged work of the restaurant for guests.
The period of volunteer work had a transformative effect on the team’s vision of what the establishment should look like in the new realities. As a result, the owners decided to abandon excessive redundancy and focus on the main thing – the gastronomic richness of flavors. The renovated restaurant is based on a seasonal menu, dishes made from local products, niche wine, which is often presented in Ukraine in limited quantities. It also has an atmospheric vintage interior.
“War is a period of transformation, both national and personal. Every day we become more sensitive to our desires and aspirations. We start to appreciate the simple joys of life. My team and I also felt that we wanted Wine Love to be perceived differently by our guests – not just as a place for special events. We will offer more simple, “understandable” food and interesting drinks. We will also do our best to ensure that our guests enjoy enogastronomic pleasure, feel the value of the moment from sincere communication with each other, and lose the sense of time. We want Wine Love to be the first place that comes to mind when you want to taste wine with gastronomic accompaniment,” comment on the opening the co-founders of the neo-restaurant Volodymyr Zadiraka and Serhiy Shkarban.
The menu was created by chef Kateryna Tkachuk. It includes dishes made mainly from Ukrainian products that combine European recipes, modern techniques and the author’s vision. According to Kateryna, she deliberately refused to use complicated technological processes and ingredients that artificially enhance the taste of the dishes. She preferred the simplicity of taste, expressiveness and clarity of the products.
As a result, the restaurant offers improved bestsellers such as chicken pate, artichoke paste, and cheese mousse. The selection of bytes and antipasti has also increased. Among the main dishes, the Wine Love team offers fish, meat and vegetable dishes, as well as desserts.
The wine list combines traditions and experiments. It is based on natural and low-intervention wines, which are often presented in Ukraine in limited quantities. According to the co-owners, the wine list includes only those items that impressed the entire team during the tasting.
In addition to wine, visitors will also be offered cocktails from the restaurant’s chef-bartender Nazar Kachala. The cocktail menu consists of two sections. The first one includes classic drinks in a modern interpretation. Such as French 75, Old Fashioned and Penicilin. The second section is filled with exclusively author’s cocktails with the addition of original ingredients. Thus, guests will be surprised with drinks with the addition of ginger beer of our own production, celery bitters and various spices.
The interior has also been updated. The large-scale flower arrangement on the ceiling was replaced with mystical tree branches and stylized poppies with origami elements. The décor is planned to be updated every season. At the moment, the location is decorated with pine needles and New Year’s decorations.
In addition, the Wine Love team will delight guests with the atmosphere of a crowded bar in the old center of a European city. Tight seating, antiques, a 19th-century spiral staircase, and a secret warehouse room for small companies that need more intimacy. The restaurant will also continue to host wine tastings and chef’s dinners. In particular, to influence the formation of the modern wine and gastronomic culture of Ukraine.
Serhiy Shkarban, Wine Love, Володимир Задірака, Катерина Ткачук
Forecast of unemployment rate in Ukraine according to methodology of international labor organization until 2025
Source: Open4Business.com.ua and experts.news
On the margins of the World Economic Forum in Davos, Switzerland, Ukrainian President Volodymyr Zelenskyy has held a meeting with Prime Minister of the Socialist Republic of Vietnam Pham Minh Chinh.
The head of state thanked Vietnam for supporting the territorial integrity and sovereignty of Ukraine, as well as for humanitarian aid to our country, the press service of the President of Ukraine reported.
“The interlocutors noted the importance of intensifying bilateral relations, as Ukraine and Vietnam are united by long-standing ties. The President called on Vietnam to support the implementation of the points of the Ukrainian peace formula,” – noted in the message.
Volodymyr Zelensky and Pham Minh Chinh discussed the possibility of activating bilateral contacts between Ukraine and Vietnam at different levels.
DAVOS, Pham Minh Chinh, VIETNAM, Volodymyr Zelenskyy, WORLD ECONOMIC FORUM
Number of vacancies as of 01.11.2023 (thousand units) according to data of state employment center
Source: Open4Business.com.ua and experts.news
