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News digest

  • Affordable Loans Program Launches
  • At the threshold of the construction boom
  • Shadow employment in Ukraine
  • What is the new year preparing for furniture makers?
  • “IMM Сologne 2020”: Belarusian experience

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

1. The Cabinet of Ministers of Ukraine approved a resolution authorizing the launch of the program of affordable loans for businesses from February 1. The program is intended for those who want to start or expand their business. It is known that the state program to support small and medium-sized businesses will allow you to get a loan from the state in the amount of up to 1.5 million hryvnia.
The first stage of the program is to provide affordable loans for own business at 5%, 7% and 9%:
5% for an existing or new business that will create at least two jobs;
7% – for a new business or operating with revenues of up to UAH 25 million, which does not create new jobs. But if a new employee is hired, then for each rate will be reduced by 0.5%;
9% – for those who already work, they have revenues from 25 to 50,000,000 and want to expand their own business.

2. Last year, construction in Ukraine increased by 20% compared to 2018. According to the State Statistics Service, the growth in construction work occurred in all categories of construction: in housing construction by 3%, in non-residential construction – 27.4%, in engineering – 23.3%. In housing construction, the growth was 3%, in non-residential – 27.4%, in engineering – 23.3%. The most significant growth was observed in Vinnitsa, Chernihiv and Nikolaev regions. In Kiev, the growth in the volume of construction work in 2019 increased by 24% – up to 4.12 billion. UAH. It is known that from the state budget for the construction allocated 40.6 billion. Hryvnia.
It’s no secret that such statistics are encouraging for furniture makers: the more they build, the more furniture they sell.

3. The problem of shadow employment in Ukraine remains one of the most pressing. According to the estimates of the State Labor Service of Ukraine, at the end of 2019, several million citizens worked without official employment in the country.
Significant regional differences in the level of the shadow economy. From 10% in Kiev and Kiev region to 49% in Chernivtsi and Kiev. According to experts, shadow employment is both a risk and some advantages. On the one hand, the shadow economy is a huge corruption component, and on the other, it is a certain compensator of financial and economic shocks, especially for small and medium-sized businesses. There are expectations that the new law “On Labor” will reduce the level of shadowing in the labor market.

4. Analysts of the world furniture markets, having made an analysis of the furniture market in 2019 and especially its latest trends, have come to the conclusion that the furniture industry will comprehensively depend on digital technologies. There is a forecast that “on horseback” this year will be those manufacturers who have a comprehensive strategy for combining stationary and digital furniture sales platforms. In Germany, it is already forecasted that more than 5-8 thousand stationary salons will leave the market by the end of the year. In today’s competition, there will remain those who pay special attention to changing customer behavior, for which the manufacturer’s brand does not play a decisive role when choosing a product – furniture is chosen more often by consumer qualities, and not by the brand of the factory. In such conditions, manufacturers and sellers have a chance to gain trust and customer loyalty, demonstrating modern and innovative approaches to digital platforms.

5. At the January exhibition in Cologne, Belarusian furniture companies, in addition to directly furniture and materials for furniture production, presented their technical capabilities for fulfilling orders for the manufacture of furniture according to specified parameters. Today, many Belarusian enterprises produce furniture according to the sketches of European customers, such as IKEA, JYSK, OTTO, XXXLutz and others. This experience is dynamically spreading, and accordingly, the export potential of Belarusian furniture makers is growing.
The participation of Belarusian furniture companies in the Cologne exhibition is a target project. Last year’s experience, when enterprises first exhibited at a large single stand under the brand name “Made in Belarus”, proved that positioning a single brand of Belarusian furniture gives a much greater effect than promoting individual brands or manufacturers. Therefore, it was decided to regularly participate in the largest international exhibitions with a single Belarusian stand.

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