27 Most Profitable Small Business Ideas in UK To Start 2023

Filed in Articles by on September 2, 2022 0 Comments

This list includes profitable businesses you can start or invest in as a small business in the UK. You can also read about small business ideas in USA, Germany, and Canada.

Small Business Ideas in UK

The UK is the sixth largest economy in the world. In the 2020 Ease of Doing Business Report, the United Kingdom ranked eighth among 190 economies. It is a significant destination for foreign direct investment in Europe. Their legal system, language, time zone, and funding environment make the UK one of the best places in the world for business start-ups.

As an entrepreneur, you should not start your business without considering the best location options. Some destinations may be more business-friendly than others and you should consider this before settling anywhere. The United Kingdom is widely known as a business center, particularly London, a city that is considered a world leader in business and finance.

So if you live in the UK or you intend to relocate with the purpose of starting a business in the UK, then it might interest you to go through this article as you will learn about some of the most profitable small business ideas in UK that you can start.

27 Most Profitable Small Business Ideas in the UK

Here is a list of profitable small business ideas in the United Kingdom.

1. Street Food Stall

Festivals in the UK are responsible for a high quarter of the country’s revenue, so it is best to take advantage of this by starting a street food stall in the UK.

This business allows you to be close to the customers and not spend too much on renting a property.

To start a street food stall business in the UK, you don’t need to have any particular degrees aside from an avid interest in cooking and the ability to bear the long hours.

Instead of building any structure, a mobile van or trailer will be sufficient for a street food stall costing around £3000.

2. Make and Sell Handmade items.

This business is for people who have a knack for creativity and art. You can start selling your handmade items on e-commerce sites like Etsy without breaking the bank.

Or you can also use Facebook and Instagram as your marketplace, where you can advertise your craft and meet your buyers.

The cost of starting this business is not expensive, but it can depend on the type of product you decide to make.

3. Sell digital product

The world has gone digital, and the best assets are digital products.

Everybody prefers the digital version, from books to manuals to clothes, for many reasons.

Making Digital products is cheap because you don’t need to buy production materials. Therefore, digital products can be more affordable for the seller and buyer, who don’t have to pay for shopping.

4. Stock photos sales

Since platforms like Canva, Pexels and others became popular, people have noticed the similarities in images they see on blogs and websites.

Most people search for original photos they can use to make their blog or brand look unique.

Anyone with good photography skills can create and sell stock photos in the UK to platforms like Canva, individuals, or companies.

To succeed in this business, one must be conscious of the trends and likes of the public using social media.

5. Bed-and-breakfast business

The United Kingdom is a top tourism and business location, so travellers will need where to eat and sleep and feel at home.

Bed and breakfasts always have a charming, homely ambience, unlike hotels and other temporary accommodation.

The bed and breakfast industry is valued at more than $3 billion, and it is a good business idea for anyone who wants to enter the tourism sector.

If you want to start this business, space must accommodate the travellers and make them feel comfortable. The more rooms you have, the greater the income potential.

6. Souvenir shop

Over the next three years, the souvenir market in the UK is expected to reach a value of $12 billion.

Tourists don’t want to return home without buying souvenirs for their families and friends.

If the part of the United Kingdom you live in is in an area rich in history and culture, then you should consider opening up a souvenir shop with products from other artisans.

One form for such sales is Etsy; you can also approach tourist servicers like your guides, restaurants and hotels to have your products around where travellers can easily see them and be attracted.

7. Cooking Classes

People who love cooking enjoy learning new meals and knowing how to prepare them.

If you live cooking and know about different recipes, you can start a cooking Class, teaching recipes from your country.

Your cooking classes can be limited to travellers and visitors who want to learn about the types of food in the UK to prepare them when they return to their countries.

8. Water transportation

Another lucrative transport business is water transport. Although the business might be seasonal, it is promising because, during the boating season, everyone wants to be on the water on boat cruises and trips.

There are different kinds of boats for various purposes, so you need to decide the one you prefer that suits your business needs.

The start-up capital for boat transportation is not very expensive but also higher than some might expect.

You also need liability insurance for the boats you transport if there is an accident or misfortune.

9. Moving van business

Starting a moving van business in the UK is relatively straightforward.

The Start-up capital includes the cost of buying one or more trucks in different sizes to accommodate the number of properties people want to move and parking space for when there is no moving.

Although many young people are entering this business, you have to set yourself apart by being professional and offering other services that will make customers prefer to patronise your business.

10. Computer Repair

To be a computer repair specialist, you must understand computer systems and their programming.

Many businesses need a computer repair technician to fix and replace their computer hardware and software.

They don’t have these individuals on payroll so you can run a computer repair business from your home as a freelancer.

As a freelance computer repair technician, you must go to the business office or home to do the repairs. You can also offer other computer services like security and anti-malware setup etc.

11. Desktop Publishing

A person with computer skills, creativity, and an understanding of graphics can start a desktop publishing home business in the UK.

Desktop publishers can get paid after performing tasks such as producing magazines, books, brochures, designing graphics, logos, etc.

There are services that Many online entrepreneurs need help with their brands. Or you can also work for individuals who want to design gift items like photo calendars and invitations.

12. IT consultant

An IT consultant can be a freelancer or an agency that a company hires to ensure their software and other technologies are in working order so their productivity won’t reduce.

The job of the IT consultant is to suggest and enforce changes to improve productivity.

An IT consultant agency will do a profitable business in the UK because the country has a lot of modern enterprises that need technology to ensure things are running perfectly.

13. HR consulting

Human resources consultants are people who support businesses by providing employees with hiring and training, retaining satisfaction, and resolving conflict. Sometimes people in this consulting line are also brought on to recruit or hire new employees.

Although it depends on the company, the requirement to start and finish this job can vary from place to place. Educational background is not needed in some areas, while in others, you need accreditation from specific organisations.

You can obtain some of these through online courses.

14. Financial consulting

Another profitable business in the UK is financial consulting. Here you can assist companies in managing their finances effectively.

Some small businesses that don’t have the budget to hire a full-time finance manager will need a freelance financial consultant to Take over the role.

While more significant enterprises might need outside financial advice to direct them on the right path.

The financial consulting business needs someone with a finance foundation like a Bachelor’s or Master’s in finance, or the person can have a CFA accreditation.

15. Healthcare Mobile Apps Development

Developing healthcare apps would be wise if you want to start a high-income-earning business in the UK.

Mobile apps are being used today by patients, doctors and specialists for virtual consultations and online drug delivery, which is more popular than in-person visits.

You can either build a healthcare app or outsource it to a reputable mobile app development agency. Or, you can deliver mobile app development services to hospitals and healthcare centres.

16. Online Healthcare Insurance Agency

People don’t have plenty of information about health and insurance. There are various health insurance organisations in the world. Many of them are confusing because they have a lot of features.

So you can start this business by selling and advertising health insurance plans with excellent and unique features.

You can also educate people on various plans and health insurance so they would pick one that is suitable for them.

17. Medical Records Management

No matter the size of a healthcare centre, preserving its medical records is challenging.

If you are a skilled software engineer and can build healthcare inventory management software, you can sell this invention to hospitals, medical labs, and other health practitioners.

The other way to do this business is by becoming an agent and providing medical records management or some training to aid their staff in managing their medical records.

18. Construction site management

There are many things involved in successfully running a construction site, and construction companies usually need to hire help to manage and keep the job moving on schedule.

If you are skilled in construction management, you can offer to survey lands and evaluate them before building starts.

You can also manage the logistics of materials being delivered to the construction site so that all the materials arrive on time.

19. Construction cleaning business

Building construction can be very messy, and if you can clean up after yourself and others, this is a good business opportunity to start in the United Kingdom.

There are several cleaning services you can offer to construction companies. You can provide daily cleaning to remove the debris at the end of each day—or you can give those services to just completed buildings to prepare them for incoming residents.2

20. Construction supply

Construction companies need building materials; starting a construction supply business is a high-earning income in the United Kingdom.

You have to decide on the construction companies to sell raw materials to. Some construction materials are roofing, bathroom tiles, slabs for the outdoor verandah, gravel, sharp sands, cement, construction equipment etc.

21. Gift Shop

A gift shop sells gifts such as greeting cards, flowers and souvenirs. It is a comprehensive business that sells portable goods as gifts at all kinds of gift items at all seasons of the year.

These gift items are usually packaged collectively and are bought by customers during seasonal periods.

22. Start an Ecofriendly clothing line.

Eco-friendly clothing is the most expanding sector in the UK under sustainable fashion, growing 11.6% yearly.

Reports have shown that these fashion brands have amplified consumers’ awareness of the environmental issues in clothing production.

This awareness has brought a great opportunity for small businesses new to the sustainable clothing by selling recycled clothing. You can start an eco-friendly clothing line in the UK, especially for baby clothing or set up an online store for other recycled wear.

23. Recycling business

Electronic waste is now the fastest-growing waste stream in the world.

The Shift Project report shows that most e-waste isn’t properly recycled, and the UK will soon become the highest European producer of e-waste in Europe by 2024.

This field is not as common as others, so it can be a profitable business to start in the UK.

Entrepreneurs can go into recycling, refurbishing, and reselling waste after researching more about the business.

24. Vegan restaurant/stand

Vegan restaurants and stands are becoming popular because of the increase in vegan eaters. Health education has made people aware of what they ingest and how it affects their health, so there is a demand for more restaurants that cater to vegetarians.

Although there are many vegan restaurants in the United Kingdom, you can create your vegan recipes by tweaking existing cuisines if you are a good cook.

25. Conference room rentals

Businesses need conference rooms for business meetings and seminars. Sometimes they have no space to do this in their company’s building, so they look for a space to rent.

Suppose you have a property in the United Kingdom. In that case, you can renovate it into a meeting space for the rental business or collaborate with building owners to design the space for renting out to businesses and event organisers, giving them a small cut for letting you use the location.

26. Proofreading services

Proofreaders have a good grasp of language, grammar, and structure. It is necessary to edit and proofread written content before printing or posting. You can start this business in the UK with a good grasp of grammar and language. Proofreaders can earn around €30 for a 1,000 words article or content. There is also no need for any capital as it is free to start a proofreading service, although you might have to pay for an editing app like Grammarly.

27. Translation Service

If you are an expert in a second language, translation services are in high demand in the UK. Most of the offshore companies in the UK and especially those which have European headquarters in the UK need translation services for localized content and construction marketing material.

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Source: Sabonews.org

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