"The business environment in Bulgaria is getting better and better, especially for family firms and for people who are truly dedicated to what they do. So said Slavena Rodinova, CEO of Hot Farm, in the Money.bg studio. At the moment the Bulgarian hot-products company is present mainly on our domestic market, as well as in Poland and China. The real expansion, however, is still to come.
"We are still developing our business mainly in Bulgaria, Poland and China, but we are about to grow further across Europe. And the next new, far-flung markets where we'll have a presence are the USA, Canada and Japan," Slavena tells us.
A closed production cycle
The hot-products farm belonging to Slavena Rodinova's family is located in the village of Strashimirovo near Varna. It grows more than 80 varieties of hot peppers, including the hottest in the world. The company has a fully closed production cycle – from the seeds to the finished product. They make their products themselves, have their own production facility and are typical representatives of an entirely family-run business.
Of course, there are difficulties too. As with almost every business right now, they are mainly related to the shortage of skilled staff. That is why Hot Farm invests in training the people who work with them.
"I definitely see potential in Bulgaria for developing new ideas, though, despite the difficulties. There are difficulties everywhere in the world, and competition too. I think being a family business helps us as well. So far we have had no outside investment, no funded projects, no state aid and no European subsidies. We have built everything with our own money."
Hot Farm also believes that being adaptable is very important for any business. They sell their products both online and through retail chains, and the profile of their customers is now a diverse one. That is because, unlike in the beginning, when the farm offered a small number of very hot peppers, today they have both very hot products and quite mildly spicy ones, suitable for all kinds of people with all kinds of tastes."
You can read the full article on Money.bg here!