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Oleksandr Gromyko, President of the Ukrainian Association of Producers, spoke about this on the air of the morning show on Channel 24. He noted that in Ukraine there are almost no business niches that are completely free.

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“There are practically no niches that are not fully occupied. Except perhaps know-how in the field of IT,” the expert assured. However, according to him, you can find an idea for a business that is underdeveloped in Ukraine – you just need to pay attention to goods from other countries that are imported to Ukraine.

► Explore Chinese Products

“For those who would like to develop small-scale production, I always ask you to pay attention to those entrepreneurs who sell anything in markets, pavilions, shops. There are a lot of goods around you that are made in China. Even garlic,” Gromyko said.

According to him, in any hypermarket about 70% of goods are from China. However, all these goods can be made in Ukraine.

► Food processing is relevant

Gromyko assured that the agricultural business is a great prospect. Particularly in processing.

We all buy high-end products: Italian noodles, for example. It is often made from our Ukrainian grain,
Gromyko noted.

“We export raw materials there from our fields and our black soil, and back we bring ready-made noodles. But this is not deep processing. This production is not complicated,” the expert noted.

He recommended that those entrepreneurs who think that it is difficult to search the Internet for the recycling process. He noted that equipment for this business can be bought at a fairly low cost.

At the same time, our production costs will be significantly lower than in European countries,” the expert assured.

► What difficulties Ukrainian entrepreneurs face

According to the expert, many goods can be produced in Ukraine, a big business plan can be made, but the main drawback in Ukraine is the cost of resources.

We have expensive loans, even in Poland and Hungary they are much cheaper,
Gromyko said.

He confirmed that credit programs at a rate of 5%, 7%, 9% per annum can only give an opportunity to open their own production. “Getting loans at 20% per annum is very difficult. I don’t even know what business can withstand such a load,” Gromyko summed up.

He assured that if the authorities make such programs with a low percentage of loans, our production will really begin to develop.