As the UK emerges from lockdown once again, many people and businesses will be facing an uncertain future. With the government’s job retention scheme set to end later this year and the business rate holiday too, the country could see a wave of unemployment in the months ahead. This article details Small business opportunities to consider right now.
The economy suffered the largest annual slump on record in 2020. However, early indications are showing economic recovery is well under way. For small business owners, or newly unemployed people looking to start a business, there is plenty of opportunity.
Starting up a small business is no mean feat. You will want to make accurate financial projections and assess your financial needs before you set up. You will also want to consider which industry you want to go into.
Virtual platforms have opened up a whole host of online business opportunities and with everyone at home so much more, home services look set to boom after lockdown. Here are a few opportunities to consider for your small business.
Virtual tour operator
International and even domestic travel have been sorely missed by many people in the past 12 months. As more and more people adopt digital technology to communicate with people, many will want to utilise technology to visit far-off locations virtually.
Operating a virtual tour business allows you to cut overheads such as transport and refreshments and offer your tour guests the opportunity to see sights they wouldn’t normally be able to.
Electric bike businesses
With a limited number of opportunities to get out, exercise and explore, the electric bike was in high demand last year for people who wanted to explore without exertion. It’s a trend that looks set to continue.
Setting up a rental service for e-bikes is a great way to capitalise and give your small business a chance to grow.
After being in our homes so much recently, cooking, cleaning and doing chores repeatedly, many of us will want to spend as much time out of them as possible when lockdown ends. This offers a perfect opportunity for home services businesses.
Cleaning, laundry and maintenance businesses are perfectly primed to benefit after lockdown. Marketing your services on social media is a great way to get started.
If you have a specialised skillset or are an established figure within your industry, why not share your knowledge as a small business? Online courses have grown in popularity over the past year. People who are looking to take on new hobbies or upskill for their careers are especially keen on e-learning.
Designing, recording, marketing and selling your skills is a great way to start a small business. You could even set it up as a side hustle initially.