Tech start-ups fear negative consequences from the war in Ukraine

According to Bitkom President Achim Berg, the effects of the war of aggression in Ukraine are not bypassing the scene. A survey confirms this.

More than half of German tech start-ups expect the ongoing war in Ukraine to have negative consequences for their own business. This was the result of a survey of 128 start-ups from the technology sector.

Eight percent of the start-ups surveyed stated that the war is having a very negative impact on the current financial year. A further 47% expect negative consequences for their business results. 33% of start-ups are neither positively nor negatively affected by the war. One in ten companies even anticipates positive or very positive effects for the current financial year. Almost all respondents support the European Union's sanctions against Russia.

Business relations between German start-ups in Ukraine, Russia and Belarus are affected by the war. 14% of respondents sold goods or offered their services in these three countries. Nine percent of start-ups even employ staff in Ukraine. "We must ensure that refugees from Ukraine can quickly find employment in Germany. Smaller start-ups in particular should be supported so that this can be done quickly and easily," advocates Bitkom President Achim Berg.