Top 5 Business Opportunities in The UK in 2019

Many people dream of starting their own business; doing so could result in higher income, a better work-life balance and creative control, but the world is changing, along with consumer demand and shopping habits. Consumers are becoming increasingly aware of the repercussions of their spending decisions, not only on the environment but on society too. So, what does this mean for entrepreneurs hoping to become their own boss? Let’s explore the top five business opportunities in the UK for 2019.

1. Environmentally friendly products.

Thanks to a variety of recent television documentaries that have revealed the horrifying impact of plastic and other harmful products on the environment, a growing number of consumers are turning to eco-friendly products or products with recyclable or compostable packaging. According to Global Web Index, 34 percent of people actively avoid products that damage the environment, while younger generations (specifically, those aged between 22 and 35) are more likely than any other demographic to pay more for eco-friendly or sustainable products. Clearly, young consumers are leading the way and creating the market space for environmentally friendly products. If you’d like to take advantage of this demand, consider selling eco-friendly household cleaning products, personal care products or food, as these are the categories in which consumers are most scrupulous. Conversely, the popularity of plastic straws, plastic water bottles, takeaway coffee cups and plastic shopping bags is declining, so avoid investing in these ‘Big Four’ items.

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2. Sustainable apparel.

Clothing is one of the most damaging industries in the world today. The statistics speak for themselves; the average consumer purchases 60 percent more clothing but keeps it for half the amount of time as they would have 15 years ago. This means that 350,000 tonnes of clothing ends up in landfill every single year (Greenpeace). But the huge amount of landfill waste is not the only problem. A vast quantity of water is used and polluted with toxic chemicals in manufacturing processes, leaving international communities without safe water supplies – or without water altogether. However, shoppers are beginning to appreciate the impact of their shopping habits and seeking out sustainable fashion options. The online fashion company, Lyst, has revealed that it saw a 47 percent increase in consumers seeking out ethical and environmentally friendly items of clothing, through search terms such as “vegan leather” and “organic cotton”, so the demand clearly exists.

3. Repair services.

Because consumers are striving to minimise the amount of waste that reaches landfill, many people are opting to repair their broken or faulty belongings instead of buying new ones. Often, this option is not only better for the environment, but for the consumer’s purse too. Why not take a leaf out of Japan’s book? The traditional art of Kintsugi is becoming increasingly popular as a way to repurpose broken pottery items. By using lacquer dusted with powdered gold or molten gold or silver, fragments of bowls, plates and cups can be stuck together again to create a new, beautiful item. By taking inspiration from this practice, you could start a business that aims to return broken or unused items to their former glory. Consider starting a clothing alterations business or repair smartphones or other electrical items, for example.

4. Plant-based food.

There is no denying that the number of people who practise a vegan lifestyle is on the up. In fact, it is thought that the number of vegans in the UK quadrupled in size between 2014 and 2018 (Ipsos Mori; The Food & You; National Centre for Social Science Research). Consumers are increasingly interested in the origin of their food, whether it is healthy, whether it is sustainably produced and whether its manufacturing processes are detrimental to animal welfare. As a result, many consumers are avoiding meat-based products in favour of plant-based ones. In 2017, Just Eat observed that demand for vegetarian dishes increased by 987 percent in the UK and in 2018, the UK introduced more vegan products than any other country (Mintel). Therefore, prospective business owners would be wise to get involved in the plant-based food market. You could, for example, open a restaurant or a food shop and sell popular plant-based items such as oat or almond milk, lentils, humous, quinoa, chia seeds, avocado, sweet potatoes, spinach and pitta bread.

5. Inclusive children’s products.

Gender and racial equality have been topics of conversation for decades, but it is only recently that children’s clothes and toys have started to move with the times. Today, boys wear pink and play with dolls and girls wear blue and play with model cars, so many retailers have ditched the gender labels and launched gender neutral clothing lines and toys. This has largely garnered a positive reaction. Dolls and other toys with different nationalities and disabilities have also been popular, as they give children the opportunity to buy a doll that looks like them. Why not embrace this diversity and opt to sell inclusive children’s products?

Online Business Opportunities

Starting an online business could also be a good move. Let’s take a look at one of the top online businesses on the Point Franchise books.

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Your Mortgage Plus

With a total investment of just £19,995, you could start your very own professional services business. As a Your Mortgage Plus franchisee, you can work from home as a part-time or full-time business owner. After three weeks of training, you’ll be given your own territory and receive support with your website and marketing strategies. After two years, you could be making a turnover of £100,000.

Small Business Opportunities

If you have a limited budget or would prefer to start a small business, why not consider Charisnack?

Charisnack

By becoming a Charisnack franchisee, you can help support Bliss, a charity for babies born prematurely or with other illnesses by selling snacks from self-service boxes in public places. You won’t need to pay any regular management fees and you can keep 100 percent of the sales income, as all donations are sent from the business’ head office. To start your own Charisnack franchise, you will need to make a minimum investment of £2,799.