ANALYSIS AND ASSESSMENT OF THE FUNCTIONING OF SMALL AND MEDIUM BUSINESSES IN UKRAINE IN WAR CONDITIONS

Abstract

One of the key indicators of Ukraine’s economic potential is its business sector, which exerts a significant influence on all aspects of societal life. The development and stability of this sector serve as critical indicators of the country’s resilience and prosperity, ensuring economic strength. However, during the period of martial law, domestic businesses are suffering from the consequences of the full-scale war against our nation. Therefore, the analysis and assessment of the functioning of small and medium-sized businesses under wartime conditions is a highly relevant topic that encompasses numerous critical aspects as subjects of study. From an economic perspective, martial law represents an unpredictable, unregulated, and challenging period that negatively impacts both societal development and the overall economic situation of the country. Ukraine, endowed with enormous potential in business and distinguished by its dynamic entrepreneurial spirit, is unfortunately facing unprecedented challenges posed by martial law and its devastating consequences. In these difficult circumstances, business owners, entrepreneurs, companies, and enterprises face unpredictable risks and threats that demand immediate responses, innovative solutions, and state support. Looking ahead to the future of business in our country, it is evident that its trajectory depends largely on the ability of businesses to overcome these challenges and adapt to new changes and realities. Decisions made during this period could significantly influence the future direction of development for both the business sector and the country as a whole. Studying and researching the state of business during wartime is a timely and important task. It enables us to understand, track, and monitor the impact of military actions on the country as a whole, as well as on the economy and entrepreneurial activity. This approach allows for the identification and resolution of existing problems and obstacles created by the new conditions, which businesses and economic entities face. Additionally, it provides an opportunity to  establish conditions for overcoming challenges and revitalizing outdated capacities, paving the way for the country’s successful and sustainable socio-economic growth.