SIN-TRADE LTD

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I will not show any economic data or macroeconomics of Ukraine. I want purely to talk about my experience and what I think about doing business in Ukraine during the war.

I came to Lviv in Ukraine from Poland with idea of helping SME to expand into international markets, I want to focus on this sector as sometimes those companies have got biggest issues on entering foreign markets (can be lack of experienced staff, lack of funding or simply thinking that they are to small to do it).

Whole registration process went smoothly, people were very friendly and helpful. The attitude is very pro business. There is a little bit more paperwork than in most Western countries but hey, every country has that small annoying thing.

Even now during the war I am impressed on how efficient the institutions are in regards to new funders and investors. You feel welcome, which is important as a foreigner this sometimes can be different.

From my brief time I can tell that there are a lot of opportunities that this country can offer for entrepreneurs. The possibility of starting a business of all sizes is vast. Especially now where many businesses were destroyed. This means lack of local production, import products try to fill the gap but still in my opinion they are not that great. Of course there are huge brands, but I feel the lack of smaller producers (who with better price could win the market). I think that this is because foreign businesses are in some way afraid that because of the situation they will not get paid.

Ukraine needs not only investors who will rebuild destroyed sectors of the economy but also buyers of their products and services. In this way cash will go to Ukraine which will help them sustain their expenditure.

But I digress. Business in Ukraine during the war for me does not see any difference than doing business anywhere else. Of course there are some restrictions and risks (there is a war) but locals are managing this all the time. In Western Ukraine from what I see business goes normal (regarding the situation). There are many new places ready to rent as well as many places being built. This shows that Ukrainians look bright into the future. And with this attitude it is possible to do anything.

Would I recommend starting trading with Ukraine or starting business there? Yes, I would. The best thing is that you can start a business and create a local team who will run it. You can just pop-in from time to time to check what is going on (or hire an independent party who will do it for you). And yes you can pop-in as I have seen tourists in Lviv from Spain, Czechia or Italy. The borders are open and you can get there from Poland, Romania, Moldova or Hungary.

If you business thinks about the next country to expand its presence I can say that Ukraine is an interesting place with potential.

This is only based on how I feel and what I observed

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