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There are roughly 80 new start-up businesses started in the UK every hour, according to research by Iwoca. 1 in 10 employees in the UK want to start their own business in 2022, with almost half of UK employees wanting to own a business one day.
This reveals that the independent UK workforce is raring to make a difference, despite the ongoing impact of the pandemic: in fact, two thirds of wannabe entrepreneurs claim the COVID-19 crisis has merely boosted their plans to start a business.
The pandemic has brought about new ways of thinking working, like zoom meetings and online conferencing. It has also given millions of people pause for thought about how they’d like to live their personal lives and run their work lives.
So here are the top ten most popular startups in the UK, according to Iwoca.
People always need things cleaning and it can be a good way of making money in your spare time, if you have flexible working hours or can give up weekends. Generally, people tend to want their houses cleaned while they are working, so being available during office hours is the most effective way to get lots of work. Read more.
Vintage clothing, for example, is in. More and more people are buying it, therefore it’s easier than ever to make money from selling retro fashion. It’s official: second-hand is sexy!
Cash in on this sudden wave of thrift shop chic by rifling through the back of your wardrobe, trudging down to your local charity shop and looking out for hidden gems wherever you go. Then all you have to do is find the right buyer to make a tidy profit! Read more.
Dog walking is a great way to make money on the side and get fit at the same time. Particularly in cities, there’s a lot of demand for dog walking services, and it’s well paid too. More people than ever got a puppy in the first lockdown – but now have to go back to work and haven’t the time to walk their new pooch. Read more.
Visit any weekend market or merely walk down one of your city’s more pedestrian-friendly streets and you’re bound to encounter a collection of quaint and colourful carts, selling anything from seaweed wraps to samosas.
Apart from delicious and affordable wares, the growing trend also brings with it a range of exciting business opportunities. Read more.
Have you got a few antiques or jewellery around the house that you think might be worth something, but you’re not sure? You might have inherited it or simply found it lurking in the attic after many years.
If you have a piece of vintage (and that includes 1980s) jewellery or an antique ornament lying around your house, and have always wondered how much it could be worth, here’s how to get it valued and possibly sold. Read more.
You’ve heard of an investment portfolio – but what actually is it? Do you need to know lots about the stock market to have one?
Your investment portfolio is a fancy word for everything you’ve got your money invested in. That COULD mean the stock market – but it can also include other things like property, peer to peer lending, and your pension. Let’s go back to basics and look at what you might have in your investment portfolio (without even realising it). Read more.
Private home events and small weddings could soon be back on the agenda – and that means you could make money with a private dining business!
Food is a huge part of our celebrations, large and small, and private dining is set to soar as the ‘new normal’ kicks in. Rather than heading out to restaurants, people will host dinner parties in their own homes – and you’re the chef! Plus, many celebrations and events have now been cancelled or postponed – and people will still want to celebrate. Give them the option of hosting their own parties at home – without worrying about the catering. Read more.
Becoming a consultant provides many benefits, from determining where and when you work, the jobs you accept, and the rates you charge. There are minimal overheads required in starting a consulting business, and these are adjustable around your lifestyle and financial situation.
The industries that generally hire the most consultants are business management, finance, technology, HR and marketing. Consulting is a good route to seeking employment, by identifying how companies or professionals might benefit from your knowledge and expertise.
Depending on your practice and preferred business size, you can either run your consultancy under your personal name or a business name. There are of course important factors you must take onto account to give your consultancy a chance of success. Here are some questions to ask yourself before starting a consulting business, including how to define your niche, set your rates, and grow your client base.
Ideally as a consultant you’ll have a demonstrated experience and success in a certain area. It’s important to come across the right way to potential clients, so you’ll need to know our strongest selling points, and how your experience differs from your competition.
It’s also worth noting that consulting requires additional skills for which it may be worth taking on extra training. Public speaking, for example, may be useful, and you may need to know how to work with, manage and troubleshoot in teams.
In the last few years, more and more people have sought working from home as a business solution, and selling candles can be a side hustle or even a full-time business.
YouTube has some useful video tutorials, whether you’re planning on making candles at home, or setting up a workshop or commercial premises.
The process is something you can pick up pretty quickly, but things like temperature and ingredients are important, as is creating samples and gathering feedback from a small group of your target customers. During your development phase, you’ll need to carry out a lot of research to help you evaluate your initial concepts and bring the best version to your customers. It’s also essential to research the various laws on candle-making.
Wax melts are a popular spin-off from candle-making: they’re wickless candles that you heat with a burner or tealight to release the fragrance.
You make them by bringing a saucepan of water to a simmer, putting the wax into a heat-proof bowl over the saucepan and stirring with a spoon. After that, it’s a matter of adding your fragrance or essential oils, pouring the melted wax into ice cube trays and allowing to set. To sell them in public, for example at a market, you will need PLI or Public Liability Insurance. to cover you if someone trips on your stand and gets hurt.
To sell wax melts and candles, you’ll also need to get CLP labelling, which is essentially the fire safety labelling, along with the ingredients and warnings for the fragrances that you’ll be using. Do some research and set yourself up for a business you’ll enjoy running from home.
For more tips and tricks on setting up your own business, MoneyMagpie is always here for you with advice.