The business environment in Ukraine has changed significantly over the past few years. It has faced many challenges and strong pressure due to the war, but it has never stopped. Companies continue to work, make decisions and plan their next steps, often in conditions that are unusual for most European markets.
In January 2026, Accace marks 19 years of operating in Ukraine. During this time, our teams have supported businesses through periods of growth, major changes and, more recently, serious disruption. One thing has remained the same: our commitment to helping clients stay operational, compliant and confident, even when the situation is uncertain.
Despite the ongoing war, Ukraine remains an active market with a strong focus on recovery, stability and cooperation with international partners. For long-term investors, the main question today is not whether the market still exists, but how to enter it responsibly, build strong local relationships and prepare for future development.
At Accace Ukraine, our people work in this environment every day. By adjusting our way of working, building strong local expertise and reacting quickly to legal and regulatory changes, our teams continue to deliver reliable support. In the following sections, our colleagues share their views on running businesses in Ukraine today and on what lies ahead.
How would you describe the current business climate in Ukraine for international companies?
Anna Magdich, Managing Director at Accace Ukraine:
“Doing business here is demanding, and it is important to be honest about that. Security risks, infrastructure limits and uncertainty are part of daily planning. At the same time, the market is still active. We see growth in areas such as IT, renewable energy and defence-related technologies, supported by strong local skills and competitive costs.
Successful companies take a realistic approach. They are aware of the risks, but they do not see them as impossible to manage. With the right structure, good local knowledge and reliable partners, businesses can operate well even in difficult conditions.”
What message would you give to companies thinking about investing in Ukraine?
Anna Magdich, Managing Director at Accace Ukraine:
“Ukraine is moving forward, especially now. Many changes are taking place in the background. We see modernisation, new working methods, fast adaptation and preparation for the future after the war. Companies entering the market today usually focus on stability and long-term value, rather than quick results.
They benefit from a well-educated workforce and competitive operating costs. With strong local support, it is possible to set up and manage operations in a safe and efficient way. Businesses that take this step now are likely to be well prepared for the next stage of growth.”
What concerns do investors and clients raise most often, and how do you respond?
Artem Narodenko, Head of Advisory at Accace Ukraine:
“Most questions are very practical. Clients ask if their operations will remain stable, how legal changes may affect them and how fast they can react if the situation changes.
We keep discussions focused on real business situations. Instead of speaking in general terms about risk, we look at how each client works in practice and what challenges they may face. We also follow legal developments closely and explain their impact in simple, clear language. This helps clients make calm and informed decisions.”
What practical steps can companies take to start or continue operations in Ukraine?
Artem Narodenko, Head of Advisory at Accace Ukraine:
“One of the first steps is choosing the right business model. Not every company needs to set up a full legal entity at the beginning. Many start with more flexible options, such as a representative office, which allows them to operate without taking on too much risk.
It is also important to plan for continuity from the start. This includes digital tools, clear approval processes and backup systems, so key tasks are not dependent on one person or one location. Advisors who understand how things work in real life, not only in theory, can provide valuable support when quick action is needed.”
How do you keep key processes running on time?
Alona Honcharuk, Senior Payroll Accountant at Accace Ukraine:
“Payroll cannot be delayed, so we always prepare for possible disruption. We use cloud systems and secure remote access to continue working even if there are technical or infrastructure problems.
We collect payroll data earlier, appoint backup approvers and prepare alternative payment methods in advance. Good communication within the team is essential. Daily checks help us identify risks early and solve them before they cause delays. This ensures that employees are paid correctly and on time, and that all legal requirements are met.”
How do you ensure data protection and compliance?
Yuliia Bibikova, HR Outsourcing Specialist at Accace Ukraine:
“Protecting personal data is a key part of our HR services. We follow Ukrainian legislation, including the Law ‘On the Protection of Personal Data,’ which defines how personal information must be handled and protected.
We use secure communication channels and provide clients with access to an online platform where user rights can be clearly defined. Our internal rules are aligned with client requirements. In everyday work, we apply practical measures such as password-protected files, confidential emails and communication only through verified contacts.”
How do you support your colleagues while keeping services running?
Halyna Hrytsenko, Senior Accountant at Accace Ukraine:
“In today’s situation, procedures alone are not enough. Trust and teamwork are essential. Power cuts or unexpected issues can happen, so no process depends on only one person.
Everyone has clear responsibilities, but important tasks are always shared within the team. This allows work to continue if someone is unavailable. We also focus on supporting each other. Open communication and mutual help allow us stay strong as a team and continue providing reliable service to our clients.”
Despite the current challenges, Ukraine remains one of the available markets for companies who want to invest and build long-term partnerships. With 19 years of experience in the country, our Ukrainian members continue to provide full support, from payroll and HR administration to accounting, tax, legal and advisory services.
Accace is a proactive consultancy and outsourcing partner who bridges the gap between needs and solutions. Combining smart and streamlined technology with a holistic approach, we provide an all-round care to clients and consider their matters as our own. With over 800 experts and more than 2,000 customers, we have vast experience with facilitating the smooth operation and growth of small to large-scale, global businesses.
Website:Â www.accace.com
