More and more people are looking to become their own boss and if you’re one of them, the new year serves as a perfect opportunity to finally take the plunge. But if you have been thinking hard without much success on what business idea to consider to kickstart your first venture, you are in the right place. This article lists some of the best business ideas which are likely to flourish in 2019 with the help of start up finance.
Plant Based Foods
With an ever-greater number of people turning vegan, plant based diets are likely to go mainstream this year. Which means that with evergreen consumption becoming a key food trend, the time is ripe for putting your business plans into action.
Although the vegan food market has become more populated in recent years, there is still plenty of room for new plant-based food businesses to bring their innovations and offerings to an audience who are keen to find foods that fit with their ethical beliefs and their desire for a healthy lifestyle. Plant-based protein is a particularly interesting and growing market which new businesses could capitalise on as one of the less-exploited areas of the trend.
There is a growing consensus worldwide that we need to reduce our reliance on plastics, with some nations even going as far as to place a ban on certain plastic products. BBC nature documentaries have further increased the level of awareness about the dangers of plastics on our ecosystems and the need to find alternatives.
This is, therefore, the perfect time to launch a business which develops recyclable alternatives to plastic products, or which offers something like an app-based, tech-savvy approach to help people reduce their plastic waste.
It has been almost a decade since the inception of Airbnb and the global sharing economy has never looked so promising. With the constant growth and evolution of the sharing economy, consumers now have the opportunity to share nearly anything which the mind can conceive.
Along with veganism, a trend which has been rising in popularity is minimalism. Not only does it present us with an opportunity to preserve our ecosystem but it also helps us to save money which would have otherwise been wasted on buying things which can be easily borrowed.
A new community of sharers and borrowers who lead their lives with the philosophy of ‘less is more’ has given rise to a trend which new businesses can capitalise on.
Last year, the trend may have been ‘inclusive beauty’, but now it has taken another step forward with the need for more customisable and tailored beauty solutions for each individual.
From custom conditioner and shampoo for every imaginable type of hair, to skincare products which have been formulated to exploit the thousands of possible combinations of fragrance, colour and base, ‘bespoke beauty’ has slowly risen to the number one spot on the list of beauty trends for 2019.
The UK’s beauty and health industry has been estimated to reach a total worth of £27 billion by the year 2022, making it a lucrative industry to launch a business in.
When seeking inspiration for business ideas, lifestyle trends are a great place to look. In the year 2019, we travel further beyond Scandinavia for ideas and our quest takes us to Japan where the long-forgotten art form and philosophy of Kintsugi is gaining prominence.
Kintsugi’s principles speak of the art of making broken things beautiful. Originally, this philosophy was restricted to pottery, but it can be applied to all types of products. Especially at a time when the circular economy and upcycling is becoming increasingly important, a business with the philosophy of Kintsugi at its heart is likely to strike a chord with a large audience.
Phrases like ‘scrolling is the new smoking’ shed light on our increasing addiction to smartphones. It is time we admit the fact that most of us are hooked on the little digital screen we carry around with us and that it is doing more harm than good.
All of a sudden, consumers have become aware of their urge to disconnect. Corporations such as Google and Apple are getting creative with our need to detox by providing dashboards which allow users to manage and monitor their screen time. Other companies are focusing on the importance of getaways to help people spend time away from their screens. This is an industry that looks set to grow in size and importance in the coming years.
Online Consultancy and Coaching
Consumers in the UK have fallen in love with online, on-demand services. 2019 is likely to be the year when more consumers turn to the internet for interactive learning and face-to-face services which were previously not so popular.
Utilising live chats and video links, everything from sports coaching to divorce proceedings and doctors appointments are now becoming available from remote experts. There are plenty of opportunities for new businesses to emerge in this sector whether it is reworking an old-fashioned online process or providing freelance expertise.
Personal Health Apps
With increasing focus on better work-life balance and healthy living, the personal health applications sector continues to remain largely untapped. These applications give people the power to take charge of their own health and reduce the number of trips that they make to the doctor.
Along with democratising healthcare and saving money, these applications have the potential to lift the burden on our already overstretched NHS. Along with helping us to manage existing medical conditions and prevent new ones, this trend can help us to lead healthier lives with remote face-to-face consultations. The mobile medical application market has been projected to reach £11.2 billion by the year 2025.
Luxury Pet Care
Pet-related business opportunities have been covered in the previous years, but they continue to be a huge prospective business opportunity for new entrants. It has been reported that approximately 45 percent of UK households own a pet and that close to £4.62 billion is spent on pets in the UK each year.
As we lead more and more hectic lifestyles, people are becoming more conscious of the conditions in which their pets are kept in their absence. This makes luxury pet care a business idea which is certainly worth giving a try.
As uncertain times lie ahead for the UK due to Brexit and a slowdown in the global economy, it becomes more important to try to understand the small business landscape in the UK and make positive contributions towards it.