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News digest

  • Export credit agency at the start
  • Quarantine accustomed to remote work
  • Tax for startups
  • Useful experience of neighbours
  • Virtual reality complement technology

Everything that happened last week in Ukraine and the world and that is relevant for the furniture maker, read in our digest:

1. In Ukraine, where the business has not yet fully earned after a long quarantine, the government intends to fully launch the Export Credit Agency by the end of the year. It was formally established, but due to financial aspects and legal procedures has not yet worked de facto.

Such an agency will become a serious and promising financial instrument to support our exporters abroad.

2. More than half of Ukrainian entrepreneurs interviewed by the European Business Association believe that the restoration of the pre-quarantine level of business development will take from six months to one year.

Most of the surveyed companies are ready to resume offline work or return to the office in the near future – 35% in May and 34% in June. In addition, 16% of respondents said that they had already resumed work or did not suspend it for the period of quarantine due to the peculiarities of the company. Another 15% do not plan to return to the office or have not yet decided on a final date.

As for the organization of work in the office, 42% of respondents plan to introduce a flexible or shift work schedule, another 13% will recommend their employees to continue working from home. 20% of companies are preparing for a phased entry to work, starting with 25% of employees in the office with a possible increase to 50%. Another 17% of companies are ready to leave 50% of employees from the first weeks with a possible expansion to 75%.

Based on the experience of the last few months, 62% of directors reported that they are considering a full or partial change of mode of operation to remote on a permanent basis. Most of them are ready to allow up to 50% of the staff to work remotely.

3. The Law on Amendments to the Tax Code, signed by the President, introduces an income tax for Ukrainian startups registered in other countries.

The tax will apply only to projects with a turnover of more than two million euros. Since the tax agent will not be the company itself, but its owner – an individual, the income tax will be 5-18%, and will have to pay a military tax (1.5%).   

Even those Ukrainian startups that are registered in countries that do not have such requirements will have to declare taxes and file reports.

4. Seven Russian regions are starting a project to recycle old furniture from wood panels. The wood waste recycling project includes those regions where there are wood processing enterprises interested in recycling wood. We are talking not only about old furniture but also about wood waste left by builders and road workers.

A significant amount of funds was needed to equip woodworking enterprises with additional equipment that allows obtaining from secondary wood chips, raw materials, semi-finished products, which can then be used by factories to produce finished products.

The collection and delivery of old furniture is still problematic. Garbage companies have joined.

5. French researcher and designer Cyril Danier presented a prototype software that can be used to digitize a real object, cut it out of the environment in a photo, and paste it into Photoshop or any image editor. Of course, this is a tool that would be very helpful not only to designers but also to furniture designers in their work. AR Cut & Paste – technology to complement virtual reality with real-life objects. At the current stage, the image import delay is about 2.5 seconds for copying and cropping, and the pasting will take about four seconds. The developer is confident that in the future the process is easy to speed up and invites IT specialists to take part in finalizing the product.

To develop, Danier used technologies from open sources: the basis was the technology of detecting the boundaries of BASNet objects, in determining the place of insertion on the computer screen helped the algorithm OpenCV SIFT.

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