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News Digest

1. Trade representative of Ukraine Taras Kachka said that next year the government will try to extend the duty-free trade regimes with the EU, the USA, and Great Britain for at least as long as there is a war, and Ukrainian business needs support. To promote Ukrainian exports, the unblocking of Black Sea ports and the development of logistics infrastructure in the west of Ukraine will continue.

2. Ukraine pledged to the IMF to restore the pre-war tax administration. In the near future, draft laws will be submitted to the Verkhovna Rada, in particular regarding the cancellation of the moratorium on tax audits and the cancellation of the simplified taxation system (two percent single tax rate).

3. The following difference between Ukrainian and global business was noticed: domestic office workers work remotely worse and miss their colleagues more. Their rates of reduced productivity and morale in remote work are three times worse than the global average. And this is evidence that the return to work in our offices is taking place at a faster pace.

4. Ukraine is considering the possibility of introducing a new type of tax – to finance the Armed Forces of Ukraine. “We are at war, so almost 90% of all taxes and fees paid by citizens and businesses next year will be directed by the government to our army and national security,” the government said.

5. Organizing the work of the team during a blackout is currently one of the most important tasks of a Ukrainian entrepreneur. The strategy of such an organization, experts advise, should include the possibility of remote work; flexible schedules and work modes (maybe also at night); management’s ability to see employees primarily as people, not as functionaries.

6. 44 percent of heads of Ukrainian companies are sure that their strategy and growth rate will not change due to the war. Their confidence is based on the experience of doing business in a country that has been at war since 2014 and has survived pandemic restrictions. At the same time, they note that the biggest threat to business is geopolitical uncertainty and related operational and regulatory risks.

7. One of the hottest fronts in the spring passed through Chernihiv, where the furniture division of the Millini company is located. “Everything burned there, except for our faith in the victory of Ukraine,” – we read on the company’s website. And yet, by organizing production at partner facilities, the company managed to resume the production of upholstered furniture and mattresses.

8. The statistics with which our Polish woodworking colleagues end the year make them ready for a further reduction in orders for both furniture and other wood products. We should expect a further increase in operating costs, especially energy carriers, a decrease in foreign orders, and fierce competition with Chinese furniture.

9. On the market of furniture components, furniture makers can already purchase countertops made of CDF plates, which are characterized by important hygroscopic properties. When the humidity in the room increases, the upper part of the CDF board swells, and when the humidity decreases, the tabletop evaporates water and shrinks, and this does not negatively affect its performance.

10. More and more European retail chains and other furniture retailers are trying to abandon classic paper flyers and advertise promotions online or through Internet applications. But studies prove that their potential buyers are still very slow to prefer “digital brochures”.

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