As one of our most popular articles we have updated this for 2016.
So you know you want to start up a business, but you don’t know what business.
We’ve looked at the UK landscape and our own trade tracker and have given you five of the best small business ideas to help you make the switch from employed (or unemployed) to entrepreneur!
Home business opportunities
Despite online sales figures suffering a minor blip this summer, it’s still a sector that sees genuine growth month-on-month. And the beauty of starting an online shop is that it can all be run from the comfort of your home.
Whether you decide to set up an Ebay or Amazon store, or your own e-commerce site, online retail should be considered by anyone looking to start a small business.
Other business ideas from home worth considering can include freelance and contract work. If you’re a writer or a developer, the chances are you can make a good living from the comfort of your home, with remote working increasingly common.
Open your own beauty business
We gain a fascinating look into the UK’s current growth industries through our yearly trade tracker, and the hair and beauty business sector is booming!
Our research showed Britons are spending more on life’s little pleasures, with numerous beauty and grooming professions showing incredible growth since 2010. The rise in manicurists (115%), masseurs (110%), make-up artists (33%), beauticians (101%) and hairdressers (79%) shows that vanity fairs well for UK businesses!
You’ll also have the flexibility to go mobile, start your own salon, or combine elements of both!
Learn a trade
The UK is currently being hit by one of its worst skills shortages for 30 years, and you could be the person to capitalise on this!
Not only is there a gap in the market for more tradesmen, we’ve seen a rise of 86 per cent in domestic builders in the last five years. Similar rises in both painters and bedroom, bathroom and kitchen fitters, proves that UK consumers are happy to splash out on home improvements.
Learning a trade can also work if you’re after one man business ideas - sole traders make up a big chunk of the country’s tradespeople. Check out our explanation for more on the difference between being self-employed and a sole trader if you’re unsure.
Start a pop up business
We’re currently in the midst of a pop-up frenzy in Britain! Pop-up stores, supperclubs, underground restaurants – there seems to be a genuine preference amongst many to ditch the more conventional stores, bars and restaurants for their shabby-chic, edgy equivalents.
As low cost business opportunities go, they don’t come with much fewer overheads than a supperclub. Run from your home, you’ll need a food hygiene certificate, some supperclub insurance and a dab hand in the kitchen!
Clean up your act
Requiring less training than many manual trades, but offering no less opportunity, setting up a cleaning business could be a great way to get your foot on the entrepreneurial ladder.
From specialised cleaning services like window cleaning and carpet cleaning to overall domestic cleaning, starting a cleaning services company can prove highly lucrative.
A 118 per cent rise in the domestic cleaning industry in the last five years highlights the demand, while larger commercial contracts are a natural progression for many.
Got any other great small business ideas? Let us know in the comments below!