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Fact vs. Fiction: EBA debunks myths about doing business in Ukraine’s frontline regions

09/ 07/ 2025
  The European Business Association’s Committee on Ukraine’s Recovery, together with the EBA’s regional offices in Dnipro, Kharkiv, and Odesa, has prepared a White Paper titled Debunking Myths About Business Risks in Ukraines Frontline Regions, presented to an international audience at the EBA Conference in Rome: Fact vs. Fiction: Business Realities in Wartime Ukraine. WHITE PAPER The document is the result of extensive discussions with business representatives and both central and regional authorities during a recent EBA expert roundtable held in Dnipro. Its aim is to challenge common myths about economic activity near the frontline and provide a realistic picture of the current business environment. The White Paper focuses on nine key myths that often distort the perception of business operations in frontline areas: Myth: There is no business activity in frontline regions. Reality: Economic life persists; new companies are opening, and fresh demand is emerging. Myth: The risks are too high and cannot be insured. Reality: National and international war risk insurance and financial support tools are being developed. Myth: The government does not support investors. Reality: Programmes for concessional loans, grant co-financing, and state guarantees are in place. Myth: Local authorities are ineffective. Reality: Many communities are proactive, simplifying procedures and supporting business initiatives. Myth: Veterans and IDPs are only aid recipients. Reality: They are starting businesses, becoming entrepreneurs, and contributing to the new economy. Myth: Business in frontline regions is isolated. Reality: Companies are integrated into national and international supply chains, digital platforms, and export support programmes. Myth: International aid is limited to humanitarian assistance. Reality: New programmes are increasingly focused on economic recovery and private sector development. Myth: There is no space for innovation in combat zones. Reality: These regions are piloting new models of governance, education, digitalisation, and infrastructure. Myth: Businesses there only survive through charity. Reality: Business-led cultural, social, and educational initiatives are building trust, resilience, and cohesion. Supporting business in frontline regions is not just about economics, it’s about national resilience, preserving jobs, rebuilding trust in local communities, and shaping the infrastructure of the future. Businesses remain on the ground, creating value, delivering services, and paying taxes — even under constant threat. That’s why it’s crucial to look beyond the risks and highlight real-life examples of success, emerging opportunities for investors, and the potential for meaningful partnerships. Frontline regions are not a “grey zone,” they are a living economy where business success and national recovery go hand in hand.

The European Business Association’s Committee on Ukraine’s Recovery, together with the EBA’s regional offices in Dnipro, Kharkiv, and Odesa, has prepared a White Paper titled “Debunking Myths About Business Risks in Ukraine’s Frontline Regions”, presented to an international audience at the EBA Conference in Rome: “Fact vs. Fiction: Business Realities in Wartime Ukraine.”

WHITE PAPER

The document is the result of extensive discussions with business representatives and both central and regional authorities during a recent EBA expert roundtable held in Dnipro. Its aim is to challenge common myths about economic activity near the frontline and provide a realistic picture of the current business environment.

The White Paper focuses on nine key myths that often distort the perception of business operations in frontline areas:

  • Myth: There is no business activity in frontline regions.
    Reality: Economic life persists; new companies are opening, and fresh demand is emerging.
  • Myth: The risks are too high and cannot be insured.
    Reality: National and international war risk insurance and financial support tools are being developed.
  • Myth: The government does not support investors.
    Reality: Programmes for concessional loans, grant co-financing, and state guarantees are in place.
  • Myth: Local authorities are ineffective.
    Reality: Many communities are proactive, simplifying procedures and supporting business initiatives.
  • Myth: Veterans and IDPs are only aid recipients.
    Reality: They are starting businesses, becoming entrepreneurs, and contributing to the new economy.
  • Myth: Business in frontline regions is isolated.
    Reality: Companies are integrated into national and international supply chains, digital platforms, and export support programmes.
  • Myth: International aid is limited to humanitarian assistance.
    Reality: New programmes are increasingly focused on economic recovery and private sector development.
  • Myth: There is no space for innovation in combat zones.
    Reality: These regions are piloting new models of governance, education, digitalisation, and infrastructure.
  • Myth: Businesses there only survive through charity.
    Reality: Business-led cultural, social, and educational initiatives are building trust, resilience, and cohesion.

Supporting business in frontline regions is not just about economics, it’s about national resilience, preserving jobs, rebuilding trust in local communities, and shaping the infrastructure of the future. Businesses remain on the ground, creating value, delivering services, and paying taxes — even under constant threat.

That’s why it’s crucial to look beyond the risks and highlight real-life examples of success, emerging opportunities for investors, and the potential for meaningful partnerships. Frontline regions are not a “grey zone,” they are a living economy where business success and national recovery go hand in hand.

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