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Ukraine - help and guidance for businesses and investors

Ukraine - help and guidance for businesses and investors

Maureen Penfold

With the situation in Ukraine showing little sign of abating in the short term, Moore UK member firm Moore Kingston Smith is providing practical guidance and advice for businesses and private investors

Moore UK member firms are ensuring our people and clients are supported, as well as donating to the humanitarian aid effort.  Meanwhile, Moore Global is ensuring the safety of our Ukrainian member firms and their families, with other Moore Global member firms close to the Ukrainian border offering accommodation, transport and support. 

Moore Global has taken the difficult decision to end the network's relationship with our two Russian member firms. We believe this is the right decision for the network and the wider society to show solidarity with Ukraine.

Guidance for businesses
Businesses need to be aware of the changes and restrictions that may affect them. Paul Samrah, Partner at Moore Kingston Smith, suggests the following when considering your organisation’s links with Russia:
  • plan early for the effect of cost rises and supply chains on your business;
  • ensure you understand the Russian sanctions that may affect your business;
  • support your people and agree expectations re commenting on social media.
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Supporting your people
It is understandable your people may be concerned, particularly if you have Ukrainian or Russian employees within your offices and sites. Richard Cummings, head of HR Consultancy at Moore Kingston Smith, says it’s important organisations show compassion, sensitivity and support to all employees who are affected by these events, including:
  • encouraging employees to talk and providing or signposting support;
  • providing support and flexibility for UK-based employees with links to Ukraine;
  • repatriating UK employees working in locations of risk and, where this is not possible, offering help and advice where required;
  • if you have Ukrainian offices employing local staff, maintaining contact, checking wages are getting through and supporting their exit from the country if appropriate.
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Tech and cyber guidance
The National Cyber Security Centre is urging organisations to improve their cyber defences, as it believes the cyber threat is heightened. Benn Davis, head of data privacy and cyber security advisers Moore ClearComm, says:
  • ensure your IT systems are secure and backed-up, access controls are strong and anti-virus and firewalls are working as expected;
  • strictly control the level of access third parties have to your systems;
  • if you or a colleague is working in a hostile environment, protect your laptop from being stolen, consider the use of a VPN service, ensure all passwords are up to date and that you have a comprehensive back-up strategy.
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Summary and links
The situation in Ukraine is highly unstable and liable to change quickly. We will continue to keep clients updated on developments and issue help and guidance as the situation evolves.  Please contact your local Moore firm if you would like any further information or support. 

You may find the following resources helpful when considering your position: 
UK government response and link to sanctions
Disasters Emergency Committee / Red Cross
Mind website for support on mental well-being
National Cyber Security Centre (NCSC)