The purpose of this research is to contribute to a better understanding of nature of business expectations by examining relations of business expectations about overall economic situation in the country on one hand and expectations about future firm performance on other hands in different political situations in Ukraine. Business perceptions and expectations take into account numerous internal and external factors related to enterprise activity. Besides businessmen take into consideration the issues related to economic environment (e.g. demand, state of competition), the external factors also include political risks. Especially it is true for a country where political regime is not yet to be called a really democratic one and its economy is not yet market one. During the preelections campaigns the level of uncertainty among the economic agents normally increases and as a result, short-term planning of future business development becomes more complicated for them Using the logistical regression model we try to find how election time impact to business expectations. As example, the expectations about overall business climate versus expectations about production, demand, and financial situation at the enterprises are considered. Hypothesis about decreasing impact of expected enterprises performance on the managers’ expectations about improving overall business climate in the pre-election period versus normal stage is tested. The presented research is first attempt to study impact of pre-election campaign to the business planning and expectations using the data of the Business Tendency Survey in Ukraine.