Top 10 Small Business Ideas in the UK

Do you plan to open your own company in 2022? Think With Niche combed through customer data to find the most recent trends among small businesses and self-employed individuals. What are some of the most common small-business ideas, and how has Covid-19 influenced entrepreneurship? Continue reading for some ideas and inspiration. Despite the difficult times, 68 percent of small businesses are optimistic for the coming year, according to Starling Bank data.

Meanwhile, more than three-quarters of CEOs expect their companies to make record financial investments in 2022.

So, if you’re planning to start a small business this year, what trends should you be aware of?

The Top Ten Small Business Concepts

We looked at all new business insurance policies taken out in 2020 and 2021 to find the fastest growing small business categories.

The top ten most popular small business ideas are as follows:

  1. Market trader with a craft stall
  2. retailer on the internet
  3. Photographer
  4. Handyman/handywoman
  5. Caterer
  6. Teaching
  7. Tutor
  8. Baking at home
  9. Those who walk dogs
  10. Accountant

Pandemic has Shaped the Small Business Landscape

As the Covid-19 outbreak enters its second year, a new group of companies has emerged from the previous two years of turmoil.

The pandemic has shaped many of the most popular and inventive small business concepts, from selling online or turning a hobby into a business to operating outside or providing services for an increasing number of pets.

Craft Stall

With a 237 percent increase over the previous year, craft booths were the fastest-growing small business trade in 2021.Because of the rise of the side hustle, more people have turned their hobbies into full-time businesses since the outbreak.Whether you make candles or knit your own clothes, craft businesses are in high demand.

Market Trader

Due to ongoing Covid-19 limitations and people feeling less comfortable in crowded interior areas, outdoor businesses have grown since 2020. Market merchants were the second-fastest-growing small business trade in 2021, with a 113 percent year-over-year increase.

Online Retailer

While the UK’s high streets have struggled in recent years, online retailers have thrived. New retailers may be able to get up and running quickly because selling on platforms like Etsy and eBay is so simple. As a result, the number of new internet retailers increased by 62% between 2020 and 2021.

Self-employed Service Sector to Remain Strong

Working for yourself has a number of benefits, including a better work-life balance and more creative freedom.

Last year, the number of freelancers and tradespeople offering services to clients increased.

Photographer

Between 2020 and 2021, the number of freelance photographers increased by 56 percent, making it the fourth fastest-growing small business trend. Weddings are expected to increase by 205 percent between July 2021 and June 2022, according to Truly Experiences, making 2022 a good year for wedding photographers.

Handyman/Handywoman

As a result of the pandemic, homeowners have spent more money on home improvements. It has resulted in a significant increase in demand for handymen and women, with our data showing a 44 percent year-over-year increase in this type of activity. Despite high demand, trades firms have faced rising costs and supply chain concerns.

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start your own business, Best Ideas for Your Small Business, Small Business Ideas in the UK,

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Published by Think With Niche

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