Best Business Ideas London – Looking to start your own business in 2023? At Simple Business, we’ve looked at our customer data to reveal the latest trends among small businesses and the self-employed.
What are the most popular business ideas, and how has the cost of living crisis affected these trends? From DJs to new independent cafes, here’s what we predict for 2023.
Best Business Ideas London
We analyzed all new Simple Business business insurance policies to find the fastest growing small business sectors in 2021 and 2022.
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And a new wave of entrepreneurs seems to be emerging from a year dominated by the cost of living crisis.
From security guards to DJs, many trades are resurging as the nation returns to events, live music and travel after the Covid-19 pandemic.
While many businesses have cut back on contractors to save costs during the pandemic, the rise of self-employed project managers shows demand is growing.
Promotion can also be used to change attitudes towards work. Many project managers are now taking advantage of hybrid working and flexible hours following the pandemic.
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As airports, nightclubs, and other industries that require trained security personnel are only just starting to operate at full capacity, it’s no wonder we see a 22 percent increase in security guards by 2022.
Read more about how to start a security company to find out the skills you need and the type of work you can do as a self-employed security guard.
Thinking of parlaying your passion for music into a new business? A popular idea could be to become a disc jockey.
Nightclubs were the hardest hit during the pandemic. But as the music entertainment industry improves, more people are turning their hand to DJing – in fact, our data shows that the number of DJs will increase by 18 percent by 2022.
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Events, parties, and weddings all enjoyed a year undisturbed by Covid restrictions last year, which could go some way to explaining this surge in popularity.
From teaching dance to running a gift shop, side hustles and pursuing creative passions continue to trend.
If you are a trained dancer and are looking to tap into that natural side, why not start taking professional dance lessons?
Our data shows that the number of self-employed dance teachers increased by 12 percent between 2021 and 2022. You can join one of the many dance teachers and earn money from your hobby.
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Read more about how to become a self-employed dance teacher, including practical guidance on your legal and tax responsibilities and marketing tips.
Whether it’s selling homemade crafts born out of a hobby of locksmithing or someone who feels a long-held desire to own a retail store, entrepreneurs seem to be opening more and more gift shops.
Despite the challenging economic climate, we insured 21 percent more gift shops last year than in 2021.
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If you’re getting into retail, consider other trends like sustainable fashion and homemade candles to complement your sales strategy. Or why not test the waters with an online store first?
Best Business Ideas In 2020 · London Small Business
Amidst the cost of living crisis, we have seen a rise in various small businesses on the high street.
Here are popular business ideas to create in the 10 fastest growing industries according to our new customer data:
Although the trade industry has seen repeated challenges — from supply chain issues to device theft — some trades are on the rise:
Alan Thomas, UK chief executive at Simple Business, commented: “Small businesses and the self-employed are vital to the UK economy, making up 99 per cent of all British businesses – many of which have been affected by the cost of living crisis.
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“Thankfully small business owners have shown resilience, innovation and creativity at every stage since the start of the pandemic in 2020. And as the tide of challenges continues – it is incredibly encouraging to see this progress in UK entrepreneurs. When it comes to us.rehabilitation
“Simply put, our economy and communities need small businesses to thrive, so it’s exciting to see a new wave of entrepreneurs taking advantage of the opportunity to start up.”
We are a nation of pet lovers, and pet ownership only seems to be on the rise. If you want to capitalize on this trend with a new business, read our guide to jobs that work with animals for a few ideas.
Starting a home baking business is something that has increased during the pandemic and beyond – in fact, it has increased by 230 percent between 2019 and 2021, according to Simple Business Research.
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Read our guide to starting a cake and baking business for the key steps you need to follow. And check out instructions from Batrock Bakery on how to get started:
The profitable small business ideas in this article are designed to inspire you. If you want to explore an idea, make sure you treat it like a business, doing the right research and planning – writing a business plan is a good place to start.
Once you have decided on the type of business you want to start, it will need a name. If you’re looking for small business name ideas, why not use our free business name generator?
For more general information on business confidence and optimism, read our SME Insights report and understand the challenges facing businesses.
What Makes A Good Business Idea?
Methodology: Simply Business analyzed 196,271 new policies in 2021 and 179,832 new policies in 2022 to find the fastest growing sectors. Data extracted January 2022.
With Simple Business you can create a single self-employed insurance policy that combines the covers that apply to you. Whether it’s public liability insurance, professional indemnity or anything else you need, we’ll give you a quick quote online, and let you decide if we’re a good fit.
We are creating this content for general information purposes and it should not be taken as advice. Always take professional advice. Read our full announcement
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When you are a high school or college student, you usually have large chunks of free time. There is no better way to spend them than by becoming a student entrepreneur…
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In the last decade, the world has seen incredible businesses started by college students (Facebook, just to name one).
There are no legal, financial, or educational reasons that prevent a school, college, or university student from starting their own career.
The Internet has democratized access to information and funding, which has removed some of the biggest barriers to starting a new business.
School and university demand a lot of your hours, but if you stay organized and make the best use of your hours, you will find time to both study and start.
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In fact, it can even help you with your studies by allowing you to find more logic and reason for what you are being taught in college.
Description: You have finished your academic year, congratulations! Now look at your desk… you have a pile of used books, right? In most cases, they end up in your household garbage cans. However, there is something better to do with them: sell them to young students for less than a new copy.
You will probably, at the very least, make enough money to buy the books you need for your next semester. The best thing about this idea is that it doesn’t require any investment or much time.
Resources: Here’s an article on the 6 best places to resell old books and some tips on how to do it.
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Description: You buy websites that go out for a low price, develop them over 6 months to 2 years, and sell them at a very high price for a profit. There are people who work at it full time and make millions a year with their sites.
The key here is to buy a high-quality website at a low price. There are a ton
