Igor Mazepa: Business should adjust to new market environment

Igor Mazepa, an investment banker, CEO and founder of Ukraine-based Concorde Capital investment company, believes that the economic downturn will overwhelm Ukraine in late summer or this autumn and will continue into 2021. Therefore, it is important for entrepreneurs to plan now how they will adapt to the new market environment.

What should entrepreneurs do now to get prepared to exit the quarantine?

First, they need to understand that the lifting of lockdown will not mean the end of the economic downturn, comments Igor Mazepa. Because we are only approaching the economic crisis now and will really feel the deepest fall in late summer or early autumn. The decline will continue into 2021, says Igor Mazepa.

Certainly, it is critical to cut expenses. In fact, it should have been done two months ago.

I give myself and my fellow businessmen the following advice: try to imagine what the market will look like after the quarantine is lifted, when the country will dive into a real crisis. Plan how you will adapt to the new market environment, says Igor Mazepa.