The UK is a fantastic place to launch a new business. Around 650,000 new start-ups get off the ground every year, and polling suggests that many of us aspire to break away from the salaried workforce and start a new venture of our own. There’s financial assistance available for those looking to set up a business who lack capital – so there’s never been a better time to get started.
Why start your own business?
Business owners enjoy a much greater degree of control over their professional lives. They’re able to push their business in the directions they desire, and develop the products and services which they believe might actually be of value to customers.
They’re also able to choose their own hours, and thereby strike a better balance between their home and work lives. Freelancers also enjoy the luxury of being able to pick and choose the clients and customers they work with – which can help to avoid uncomfortable associations.
What business ideas are worth considering?
So where do the more promising opportunities for new entrepreneurs lie in the year to come? Several niches suggest themselves as worth filling.
Britain is a nation of animal lovers. Or, more accurately, we’re a nation of people increasingly willing to lavish lots of our disposable income on our pet cats and dogs. Grooming, training and food services, along with manufacturers of pet-related lifestyle products and toys, will be able to ride this wave of affection.
Appetite for home improvement has risen along with house prices. After all, if you can improve the home you already live in, you’ll have less reason to put your hand in your pocket and move to another one.
There are a range of businesses which can provide home improvement services, most of which require picking up some skill in a particular trade. If you’ve already got the experience in a relevant field, then now might be a great time to start up a home-improvement business of your own.
Personal fitness is a growing market, with reduced access to gyms throughout the pandemic now being corrected. More than ten million people in the UK are gym members, and many more are involved in outdoor exercise, or exercise at home. The industry is worth a combined £2 billion, and there’s plenty of personal satisfaction to be gotten from helping people to live healthier, happier, more active lifestyles.
In the wake of the pandemic, diners increasingly want options when it comes to how they consume their food. Miniature food festivals are cropping up all over the country, providing an opportunity to anyone with access to a van and some cookery skills. The barrier to entry is much lower in the case of a food truck than it is with a full restaurant – which means that if you can provide food that people want to eat, you can make a successful business.