This study outlines how the armed conflict in the east of Ukraine has affected small and medium sized enterprises (SMEs) from Donbass. It covers those SMEs which remain in areas which aren’t controlled by the Ukrainian Government and SMEs which left those areas because of the conflict in the region.

This study explores the reasons why SMEs chose to either remain in their areas or to leave, the status of their business and supply chains, as well as the state of the markets in which they operate. The research assessed the resilience, business optimism and political agency of the enterprises, particularly as SMEs are often considered an important constituency that naturally favours peace over conflict.