FINANCIAL AND ECONOMIC TRENDS OF NATIONAL BUSINESS: TRANSFORMATION OF ENTREPRENEURIAL ACTIVITY DURING THE WAR

Abstract

The study of the functioning of national business during wartime from the perspective of entrepreneurial activity transformation is a vital element of economic support. National business trends demonstrate extraordinary resilience, formed and maintained through adaptation processes and characterized by further overall transformation. Ukrainian business reflects a unique strategy of adaptation to the current operating conditions caused by martial law. Today’s business world is extremely dynamic, constantly accompanied by challenges and risks that require continuous development and adaptation from entrepreneurs. However, national business not only provides a high-quality response to such threats but also turns them into unique opportunities, one of which is supporting the national economy through the support of the Armed Forces of Ukraine. This article explores the specifics of financial and economic trends in supporting and further developing national business from the perspective of transforming entrepreneurial activity under the conditions of war in the country. The most important vector strategies for adaptability and further support of business activities for 2026 are presented: 1) radical economy strategy; 2) static resilience strategy; 3) activity scaling strategy. It is analyzed that the activity of sole proprietorships (FOPs) reflects various trends of change: during 2022-2024, the dynamics of business activity levels leaned towards a predominance of openings; however, from the beginning of 2025, the closure of businesses began to prevail. The total amount of taxes paid by sole proprietorships during the three years of full-scale war in the country amounted to UAH 126 billion. It was found that the course of the war, primarily due to ongoing mobilization processes, caused significant changes in the gender distribution in business: in 2021, the share of women in business was 51.30 %; in 2022 – 48.10 %; in 2023 – 57.40 %; in 2024 – 60.80 %; in 2025 – 60.60 %. The study shows that the activity of national business during wartime occurs in a highly dynamic adaptive-turbulent mode, characterized by: external and internal migration processes, a high level of labor shortage, the presence of «shadow» economic processes, the emergence of new expenditure items (support for the Armed Forces of Ukraine, assistance to internally displaced persons, volunteering, etc.), energy shocks, and the destruction of infrastructure (residential, logistical, production, etc.). Despite certain negative trends and some downward dynamics of financial and economic indicators and indices, the state of the country’s entrepreneurship still reflects the further effective implementation of adaptive-transformational mechanisms and a sufficient level of restrained future business expectations. These factors will contribute to both a moderate perception of new military challenges and the gradual restoration of the state’s life and activities in the future.