Tech startups fear negative consequences from Ukraine war

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

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

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

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