Survey: Ukraine war affecting businesses in Finland

Russia’s operation in Ukraine and the resulting sanctions on Russia are impacting businesses in Finland, according to a survey by the Finland Chamber of Commerce.

The majority of the companies polled—62 percent—said that the ongoing crisis has hampered their operations. However, only a fifth of respondents expect a decline in revenue compared to the previous year.

According to estimates by the Finland Chamber of Commerce, several businesses are still recovering from the effects of the Covid-19 crisis. The war in Ukraine has led to disruptions in key supplies, worsening the situation.

A third of companies surveyed said they were facing difficulties due to supply shortages. Additionally, 40 percent revealed that the surge in raw material and component prices, another consequence of the war, has restricted their activities.

The survey, which was conducted in mid-March, included 2,000 businesses operating in various industries in Finland.

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