CORONAVIRUS IN UKRAINE

Coronavirus: Ukrainian companies switch to remote work and expect sales slowdown

Survey conducted by the American Chamber of Commerce in Ukraine and Deloitte identifies key trends as Ukrainian businesses adjust to global coronavirus crisis

Coronavirus: Ukrainian companies switch to remote work and expect sales slowdown
Travel plans are being scaled back and employees encouraged to work from home as Ukraine goes into coronavirus lockdown
Business Ukraine magazine
Friday, 13 March 2020 15:44

The American Chamber of Commerce in Ukraine, together with AmCham member company Deloitte, have conducted a Ukraine Covid-19 Business Impact Survey. This is the first survey on the impact of coronavirus on the business community in Ukraine.

According to the survey results, the top priorities for Ukrainian businesses at the current stage of the pandemic are limiting of business traveling (89%), providing for remote work (87%), providing office safety, including antibacterial products, disposable utensils, and thermometers (82%) as well as providing employees with the latest advice and information (81%).

Currently, companies support or plan to support their employees by limiting business travel (81%), providing remote work opportunities (79%), providing employees with up-to-date information and advice (74%), and office security (74%).

Meanwhile, Ukrainian businesses expect the biggest anticipated effects of the pandemic to be sales slowdown and cash flow challenges (61%), and an inability to fully serve customers/clients (52%). When asked about business performance targets for 2020, 65% of member companies responded that they plan to maintain their existing targets, while 14% plan to lower their annual targets moderately.

Olena Boichenko, Director of Human Capital Advisory Services in Deloitte Ukraine, commented on the survey results: “In spite of the significant impact of the COVID-19 pandemic on global and domestic businesses, the survey indicates that Ukrainian companies are demonstrating a readiness to respond to the challenge.”

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