Sanctions. Someone sees this phenomenon as extremely negative, but is it really so bad? Food sanctions, that is, a ban on the import of certain goods from abroad, have caused such a phenomenon as import substitution. Products that used to be imported from the west must now be replaced with similar ones, but domestically produced.

Among economists, there is often an opinion that import substitution should have been done a couple of decades ago in order to provide the country with goods of its own production and create new jobs, which are always so lacking. Why they did not do this earlier, we will not argue. Now the question is more relevant: is it possible to build a small business under sanctions? We answer: you can! Business on sanctions will be based on the fact that the market niches freed from foreign manufacturers need to be filled by someone, and just small and medium-sized businesses are ideal for this. Continue reading →