Financial crisis felt by Ukrainian SMEs
Impact of financial crisis felt around 80 percent of Ukrainian companies, said the newspaper Kommersant. A total of 56 percent of companies that participated in the study of Ernst & Young, stated that the impact of the crisis has already resulted in lower sales.
In 2009, only 34 per cent of managers expect that the growth rate of earnings will be at the level of 2008, while 50 percent expect declines. The crisis did not lead to massive reductions in employed staff of Ukrainian companies, however many companies have started freezing wage increases. So far only 6 percent of companies intend to reduce the salaries of its personnel.
In the survey done by Ernst & Young participated 143 companies, with 82 percent of participants representing international companies operating in Ukraine.