According to Startup Britain, over 726,000 new businesses started in the United Kingdom in 2020. That’s an increase of nearly 10% from the previous year! With so many people starting new businesses, it can be hard to know where to begin. Fear not! We’ve put together a list of five businesses that we think have great potential in the UK market.
Food and Drinks
The UK food and drink industry are worth an estimated £113 billion , making it one of the largest industries in the country. Many options are available if you’re passionate about food and drink and want to start your own business. Here are some great companies in food and drinks you can start.
Catering
When it comes to food services, you can never go wrong with starting a catering business. People are always looking for new and innovative catering companies to provide food for their events. With the proper marketing, your catering business can quickly become a success. Invest in the right equipment and hire a great team to help you with the business.
Food Truck
Another excellent option for starting a food-related business is to open a food truck. Food trucks have become increasingly popular recently, especially in large cities. Your food truck business can thrive if you can find a good location. Be sure to offer unique and delicious food to attract customers.
Bakery
Baking is a popular pastime in the UK, so it’s no surprise that starting a bakery is a great business idea. Home-baked goods are always in demand, so if you are passionate about baking, this could be the perfect business. The best part about this kind of business is that you can do it in the comfort of your home. You can use your oven and kitchen to bake delicious treats for your customers.
Fashion
The fashion industry is also huge in the UK, with London being home to one of the biggest fashion weeks in the world. However, the fashion world can be challenging to enter if you don’t know what you’re doing. So you need to know some essential things when starting a fashion business.
Sustainability
The fashion industry is gradually becoming more sustainable, with many consumers looking to buy from ethical brands. Plenty of options are available if you’re interested in starting a sustainable fashion business. You can focus on selling vintage or second-hand clothing or start a company that produces sustainable clothing.
Footwear
Another excellent option for starting a fashion business is to focus on footwear. The footwear industry is worth billions of pounds and is always in demand. You can start a business that sells shoes online or in brick-and-mortar stores. There are plenty of opportunities for success if you’re passionate about shoes.
Jewelry
Lastly, jewelry is another fantastic option for starting a fashion business. The jewelry industry is worth billions of pounds and is always in demand. You can start a business that sells jewelry online or in brick-and-mortar stores. If you’re creative and have an eye for detail, this could be your perfect business.
Construction
Construction is an essential industry in the UK, with the sector worth an estimated £110 billion. However, starting a construction industry in a country like the United Kingdom requires several things. Here’s how you can start a construction firm in the country.
Testing
Testing is a crucial part of the construction industry. The United Kingdom requires construction workers to take a Construction Skills Certification Scheme (CSCS) test before working on construction sites. You can book the CSCS exam online for your employees. This test is essential for ensuring that workers have the necessary skills and knowledge to work in the construction industry safely.
Licensing
All businesses in the construction industry must be licensed by the Health and Safety Executive (HSE). This ensures that businesses are following the correct safety procedures and regulations. To apply for a license, you must fill out an application form and submit it to the HSE.
Technology
Technology is one of the fastest-growing industries in the UK, with startups raising over £2 billion in funding last year alone. Some great businesses to start in tech includes app development, software development, and web design.
App Development
App development is an excellent option if you’re interested in starting a tech business. There’s a huge app market, with over two billion active smartphones worldwide. You’ll need coding skills and knowledge of different programming languages to develop an app.
Software
Home Improvement
Finally, with more people than ever before choosing to renovate and improve their homes instead of moving, the home improvement industry is booming. If you’re handy and are interested in home improvement projects, starting your own business in this space could be a great option. You can start a business that offers home improvement services like painting, carpentry, or even electrical work.
There are endless possibilities when starting a new business in the United Kingdom. No matter what your interests or skillset may be, there’s sure to be an opportunity out there for you. So what are you waiting for? Get started today!
