Launching your own business under sanctions is not an easy task. It will become easier to achieve success if you study the pitfalls at the planning stage, choose a trend direction, use government support and other available options.

What is profitable to do in the conditions of sanctions and what ideas are better to abandon — the topic of this article.

The impact of sanctions on business

It cannot be said that sanctions affect business only negatively. During the crisis, many companies are forced to change their focus: otherwise, they can only close down. There are problems with logistics, especially if suppliers or buyers are abroad. Whole areas (for example, the advertising business) are in decline — coverage, sales, revenue and profit are falling.

The impact of sanctions on business

But in addition to unpleasant moments, sanctions promise a number of prospects for domestic business. Companies that reorient their activities taking into account the current situation can build a profitable business.

New opportunities are emerging in the following industries:

psychological service will be in demand in the coming years

, sales on online platforms are growing;

the cryptocurrency industry and the industry of decentralized assets are developing;

there is a demand for inexpensive cottages against the background of migration of part of the population from large cities to the regions — this is a natural process in the era of sanctions restrictions and the deterioration of the economic situation in the country;

the number of small and medium-sized enterprises specializing in the production of demanded goods that were previously imported from abroad is growing. This includes spare parts, clothing, shoes and other goods that require import substitution.

In the era of sanctions, many difficulties and trials await Russian entrepreneurs. The number of imported goods on the shelves is rapidly decreasing, and the price of them is growing proportionally. The withdrawal of Western companies from the country opens up opportunities for import substitution. But you need to be prepared to increase the purchase price of foreign equipment, raw materials, components.

Analysts estimate that 8 out of 10 owners of small and medium-sized businesses will experience financial difficulties. Considering that most did not have time to improve their material well—being after covid restrictions – many were on the verge of survival.

Third world states — India, Iran, China – will fill the deficit of Western imports. In order to keep their prices, Russian entrepreneurs consciously go to the deterioration of the quality of manufactured goods. This threatens that the market will be filled with second-rate products.