“Tax hikes, staffing and electricity issues. What to prepare for in the new year?”, — write: epravda.com.ua
Not because of it, but in spite of everything – the leitmotif of Ukrainian business. We are used to working in crisis, war, blackouts and unstable economy. If you choose to do business in Ukraine, you agree to strict conditions. However, planning and strategy include analysis and assessment of situations, challenges and trends that await business in the future. We cannot avoid them, but we can be prepared. 1. Energy instability. In 2024, the Russians fired 1,100 missiles at the objects of the energy system of Ukraine. Considering the damage caused, the problem of blackouts will remain relevant. Of course, businesses are adapting by breaking production processes into autonomous parts, using generators and solar panels to keep things running smoothly. However, these processes lead to additional costs, as a result – to an increase in the cost of manufacturing products and the functioning of the business in general. Therefore, when planning for the next year, it is worth taking into account expenses on energy carriers. Advertising: 2. Dependence of the state on foreign partners and the threat of loss of support. We do not want to talk or think about it too much, but being in a state of war, the country does not have the opportunity to soberly assess the state of the economy. Entrepreneurs can only guess about it. However, there are reasons to believe that the exchange rate is maintained thanks to the efforts and financial infusions of donors. If this support is reduced, more economic problems will appear. The worst option is a threat to the functioning of the financial system. Advertisement: Read also: Taxes, transit of Russian gas, autocivilka, liquidation of MSEK: what will change in Ukraine from January 1. However, smaller risks, such as the rise in the value of the dollar and euro, can be a very serious challenge. A large part of businesses depends on imported raw materials, which means that the impact on production will be felt. 3. War for people. The personnel crisis, which began even before the great war, has turned into the fear of every entrepreneur in these almost three years. According to the Talando recruiting agency, over the past year 74% of Ukrainian companies faced a shortage of personnel. Obviously, the problem will only worsen. Businesses are looking for solutions, raising salaries and increasing bonuses, but the war for personnel cannot be won with money alone. It is worth attracting alternative workers, for example, women in conventionally male professions, training young people. It’s time to improve corporate culture and values, strengthen the company’s social impact. In the first place when choosing a job for candidates, the humanity factor and image, the company brand. It is easier to attract new staff to a business team that employees are proud of. 4. Tax nuts. A historic increase in taxes can significantly hit small and medium-sized businesses. Thousands of potential businessmen may not dare to register a sole proprietorship. Therefore, the year 2025 has signs opposite to those recorded in 2023, when Ukrainians caused a real FOP boom by opening 300,000 businesses per year. 5. The military is on time. Defense industry and military enterprises will remain a priority. Such a business will actively develop both during the war and after victory. 6. Scaling abroad. The Ukrainian market is limited and unstable. There are also physical threats due to shelling and high production costs. It is not surprising that businesses are looking towards foreign markets: 40% plan to expand abroad. Bringing Ukrainian products to foreign markets can have a positive effect on the economy. Despite all the challenges, it is still more profitable to produce products in Ukraine: a simplified regulatory system and a minimum of bureaucracy compared to the European Union. 2025 is unlikely to be easier than 2024. Some challenges, including staff shortages, are likely to intensify. Others – instability and the general state of the economy – cannot be accurately predicted. However, I am sure that Ukrainian entrepreneurs are very resourceful and adapt to any conditions. Our national identity is to fight against all odds. So we boldly go to 2025.