Over 50% of entrepreneurs wary of economic crisis – poll

A total of 52% of Ukrainian entrepreneurs are wary of the economic crisis due to rising uncertainty and sliding income.

That's according to a study by the Union of Ukrainian Entrepreneurs, an UNIAN correspondent reported from Tuesday's presentation.

Read alsoUkrainians take microloans worth more than Kyiv budgetSome 68% of Ukrainian entrepreneurs feel pressure of constant financial obligations, but at the same time consider financial security (78%) and independence from employers (65%) their main motivation for starting a business.

According to the survey, an average entrepreneur in Ukraine devotes 47 hours a week to doing business and believes the result is worth the effort.

According to entrepreneurs polled, there are a number of obstacles to the rapid and high-quality development of entrepreneurial activity in Ukraine, among which the most significant are: high tax burden and complexity of tax administration (63%), constant changes to the "rules of the game" (63%), as well as the lack of available loans and other sources of quick working capital (61%).

Despite the complicated business environment, Ukrainian entrepreneurs see the country's future in five years in a positive key: an economically developed, successful, and self-sufficient country with a western course of development (accession to the EU), without war, with an integral territory and rule of law.

Read alsoUkraine sees no banking crisis amid economic recession – NBUThe study carried out for two months involved 2,000 entrepreneurs. A total of 1,000 applications were selected. Among study participants, 70% were micro-business owners (up to 10 employees, turnover up to UAH 5 million (US$176,056)), 24% small business (10-100 employees, UAH 5-50 million (US$176,056-1.8 million) turnover), 4% medium business (100-250 employees, UAH 50-100 million (US$1.8-3.5 million) turnover), and 3% large business (from 250 employees, from UAH 100 million (US$3.5 million) turnover).