It’s reached the time of year where we start letting go of New Year’s resolutions, dismissing ideas that could take us a step closer to our desired future. This is ten reasons why you shouldn’t reject that new business idea you’ve had for 2021.
The new year is finally upon us and with it comes a lot of hope among the people in living in the UK. The Coronavirus vaccines will hopefully kick in to full effect and we can finally see an end to the pandemic for good, but also many new business opportunities tend to present themselves when a new year comes around.
Take a quick look at our small business ideas, and think about your long term business plan to get started.
You may have a business model in mind from being a web developer to having your own YouTube channels.
Starting a business in 2021
The new year should bring with it new challenges and that’s why it’s the perfect time for you to get your new business off the ground and running. You can kick-start your new project with these simple tips and give yourself the boost you need to get going.
Even though for now we all need to continue social distancing and unfortunately avoiding coming into contact with many of the people we’d like to see, there are still unique business ideas to pursue in 2021.
Hopeful business owners and people simply looking to build a business from the ground up, face no better time to start than the turn of a new year. Sure, with how the world continues to change from minute to minute, and the uncertainty surrounding the news of another potential full nation-wide lockdown begins to build, you may need to throw out your old business plan and replace it with a newly updated one, but you can still land on an idea that suits you, as well as our current environment.
Business Start-up Ideas in 2021
Below you’ll find a list of new small business ideas specifically designed for this year, so expect to see a whole host of work from home opportunities and profitable business ideas that allow you to distance yourself from others. Read on to discover if any of these business models are what you’ve been searching fo
- Effectively promote your business online. The use of the social media can be perfect for this type self-promotion. Not only can you build up a strong follower-base by connecting with the right people online, you can also begin to narrow down a target audience. Using social media is an effective method of keeping your audience engaged, letting them know what you have to offer on a daily basis.
- Pick the right location for your new business. If you’re looking to make an impact on the market with your new venture, everything could hang on the location. You may be opening a new shop for example, if you land yourself in a dead-end high-street you’re instantly limiting your opportunities. Being flexible on your location matters; meaning willingness to relocate could be the key to unlocking your new enterprise.
“Overall, there was a 4% increase in the number of businesses in the UK between 2018 and 2019. The country or region which saw the biggest increase was the North East which saw a 14% increase. The next biggest increase was in London, which saw a 3.2% increase” (statistics courtesy of Parliament.uk).
- Aid your idea in standing out from your competitors. There’s now more businesses being set up than ever before. This year-by-year growth shows no signs of decreasing in the near future, so it’s now of the highest importance to inject your ideas with originality.
Starting a small business – 2021 ideas
Medical courier service –
If you own a vehicle, such as a car or van, which most business owners will do, and it is reliable on the road, you may just find that you’ve got almost everything you need to set up a successful medical courier service. There has been no better time than right now to set up this sort of venture, as people, particularly the older member of the public, are staying at home in order to stay safe. You will be responsible for getting prescription drugs to the people that need them, so you’ll be able to take pride in the fact that the work you’re doing is righteous and important.
App development –
If you’re somewhat of a technology expert and have a history in web development or online content creation, you may wish to build your business around app development. Business apps and mobile phone applications are now more popular than they ever have been, thanks to almost everyone in the world owning a smartphone these days. Developing apps can be done from the comfort of your own home and one solid idea could secure you a fortune if you’re lucky enough to land on one.
Online bookkeeping –
Many new businesses will revolve around working online this year, due to the social distancing guidelines that are currently in place in the UK; most people will have to work remotely in some fashion or directly from their own homes. Therefore, online bookkeeping is a fantastic option for those that are looking to come up with a successful business idea. If you’re an accountant or bookkeeper and want to begin your own small business venture, you can use your experience to start your own online business. Other companies could become your most important clients in the near future.
If you have expert knowledge of a specific business area, or rather a lot of past experience in a particular field of work, you’ll likely be a perfect candidate to set up a consultancy business. Setting up a small consultancy firm can often be a profitable proposition for those that choose to explore that path. As you start your consultant business you’ll be on your own, but as you grow you can feel free to hire more staff members over time to help share the workload and duties with.
Online reseller –
If you’re passionate about certain types of products, or have a working background in sales, you may want to consider setting up your very own online reseller service. You’ll need to be dedicated and willing to put a lot of time into your work for this to be successful, but that’s the case for most types of new business. This sort of business idea would likely begin as more of a side project, then if you find a high level of success, you could turn it into a full-time job and put your complete efforts into making it as good as it can possibly be. Collecting online reviews and pleasing your audience will be essential to finding success here.
Cleaning services –
Never before has there been a bigger focus on keeping things clean, since the beginning of the COVID-19 pandemic it has become essential to wipe down surfaces and cleanse workspaces. However, must people would feel much more comfortably knowing the job had been down by professionals before they turn up to their office each morning. Cleaning services can charge a favourable rate to workplaces after gaining a proven track record, so the sooner you begin to build up your portfolio of work, the sooner you’ll be able to start charging more for your skills.
Digital marketer –
In the modern world digital marketing is an important part of any well-established brand, and it is the perfect fit for 2021 as it can be done completely from the comfort of your own home. As long as you have a PC or laptop and a strong internet connection, you’re well on your way to setting up your own digital marketing venture. Of course, you’ll need skills in SEO, content marketing, social media management and web development, but you’d likely not be considering this business route if you hadn’t got them. There are many different types of digital marketing and companies often require different skillsets from their marketing clientele, so be sure to build up a wide range of skills; the wider your skillset is, the more work you’ll likely receive.
Pop-up restaurant (post COVID-19) –
This business idea could still work during the pandemic as you’d be outside and would be able to take the proper safety precautions, such as wearing a mask or face covering and keeping your distance from customers at all time, but the reality is you’ll likely have far more success after the pandemic has ended. Fingers crossed for the virus to be gone during 2021, as it would mean so much for the world, but also the true beginning for many pop-up businesses across this country’s highstreets.
Business trends for 2021
When going into a new year as a small business owner, or a hopeful entrepreneur, it is important to get a strong grasp on what the biggest trends will be within the world of business over the upcoming twelve months.
Working from home:
Yes, the vast majority of us will continue to work from home for the most part, throughout 2021. This is down to the COVID-19 pandemic still being at large and social distancing rules remaining in place. It is always important to put the safety of others first, so look after each other while running your business this year. We will all once again be needing to get our spare rooms sorted out into a more traditional office space, at least for the first half of 2021.
Going from global to local:
Some of the biggest businesses in the world will have to take things to a much more local scale this year, that is because of everything going on with Coronavirus and the limitations it places on business ventures. This will mean that 2021 will be the year that companies which typically have a wider, even global reach, will have to focus more heavily on the local areas they are based in. This could lead to new and interesting ideas as well as limiting the audience sizes companies could market to and target. Could this lead to a more even playing field between bigger and smaller businesses? Possibly so, yes.
Online social engagement:
Just as in our free time we now enjoy communicating together in an online environment, such as Zoom calls, email, text messages and Facetime, we are all now doing our business communications online with interactive posts for social media, too. This will continue throughout the year and possibly even into 2022, but only time will let us know how that goes. We are all now more hopeful with the continued development of the Coronavirus vaccines.
Business models to avoid in 2021
Each and every single year there are certain business models to steer clear of and avoid completely. This year, as Coronavirus is still at large and effecting the world in a catastrophic way, things are a little different for obvious reasons. We’ll now quickly walk you through a handful of the biggest blunders you can easily avoid during the upcoming twelve-month period.
Anything that requires face-to-face interaction
It may seem like an obvious point to make, but if you’re looking to start a new business venture this year, you really do need to keep in mind exactly how you’ll conduct your business. If you know you’ll only be able to turn over a profit by meeting clients in the flesh, or running a physical store that can welcome in customers, it may be time to hold fire for a little while. The Coronavirus will hopefully come to an end this year, but as of now, we have no certainties to go on.
Lack of leadership
Don’t begin a business that’s structured in a way with no real standout leader. If you are one of a group of individuals that are all going to share the business equally, it may not actually be a great year to give that sort of structure the green light. This may surprise you as we’re all trying to do our bit to help one another in the current climate and look out for each other, but with the constantly-changing world we live in now, you’ll need a leader of the pack. Be sure to lead your business to glory in 2021, by staying focused and working with people you trust.
People consumer more online now than ever before, so be online as a business
As the list of problems consumers have had over the last year or so have grown, so has their search for solutions to those said problems. It’s now become easier and more accessible for regular people to start businesses such as e-commerce, virtual assistant work, coaching, or becoming a freelance writer, designer or developer.
This is the digital age, so people are spending a lot of time online. E-commerce has risen by nearly 40% since the beginning of the global pandemic. If you consider the fact that your own consumption and purchasing behaviours have likely changed over the last year or so, it isn’t difficult to spot trends in where we are heading as a society, in the world of both purchasing and business overall.
If you think about what solutions you wish you had, that aren’t currently being met, chances are there are others looking for the same solutions. So, with this in mind, right off the bat you have a business idea of your own, as well as a unique selling point (which is a must-have business feature of 2021 and beyond).
More time at home has allowed us to develop our core strengths
We have been spending so much time in our homes in recent times due to everything that is going on around us, but it hasn’t all been bad. One silver lining has been the fact that we have had more time to do what we love to do. For many of us, this meant cooking, writing, speaking, and creating in ways that are unique to our own set of talents; perhaps you have discovered a new talent or uncovered a new passion of yours during this time.
It isn’t uncommon for people in the UK to often doubt themselves and shy away from trying new things that may lead to fantastic ideas. We believe our talents come easily to everyone, when in reality, that simply isn’t the case, and you should cherish the positive aspects that are unique and individual to you alone.
While some people may be good at your talents or able to learn them quickly, they may not necessarily enjoy it. When you enjoy it, your passion and energy shines through your work. Work becomes effortless and enjoyable when you’re able to combine it with something that you truly love and have a deep understanding of.
So, with all that being said, why not make this year the year that you convert some of your best attributes into business ideas, after all if you’re knowledgeable and talented in a specific area, you’ll likely make a great business owner in its specific marketplace.
Newly Registered Companies in the UK
“There were 672,890 new companies registered in 2018 to 2019. This is an increase of 8.5% compared to last year and the highest number of incorporations since 2009 to 2010” (statistics courtesy of Gov.uk).
- Set realistic goals, aiming to reach them. By setting achievable growth targets, you’ll be able to track your progress more effectively. Progress will feel more reachable by giving yourself targets to aim for over short spaces of time. Not only will this make you feel like a more proactive worker, it’ll also help you to become progressively hardworking by constantly giving you something to aim for.
- Engage your idea with your full effort. If you’re starting a new business, you need to believe in it. You can’t expect to connect with an audience if your product/service doesn’t have your full backing. Research into the area you’re looking to take a plunge into and bring your knowledge up to scratch before starting your new endeavor.
- Know the importance of budgeting effectively. Spread the costs across all aspects of your business accordingly, in order of importance. If you’ve truly found your niche in the market, hone in on that idea and use your funding wisely. Allocate budgets for different sections of your company and don’t overspend in areas where you don’t need to.
- Learn to communicate effectively with both your audience and your potential future co-workers. Communication is key when running an emerging business. You need to know how to deploy your ideas to others that can help turn them into a reality. Telling your audience what you have to offer them directly, is the only way to send across your ideas and grow your business up from it’s starting point.
- Realistically asses how many employees you need. At the start of your new endeavour you’ll inevitably be thinking about growth. While this is clearly an essential area of your new company, you need to be wary of the risks of taking on too many staff at the beginning. Don’t stock up on staff before you’ve laid the groundwork of your idea.
Think about the costs this will create for you and if you have enough funding to cover it. You may even be able to run your business effectively with no employees for some time, “At the start of 2019: • there were estimated to be 5.9 million UK private sector businesses • 1.4 million of these had employees and 4.5 million had no employees” (statistics courtesy of Gov.uk).
- Don’t let larger corporations dictate how you run your business. Starting a new business from scratch takes time and effort. Most new companies will have to bide their time and be patient in terms of growth.
“More than 99% of all UK businesses are small to medium sized, meaning they have 250 or fewer employees. The country is also home to 8,000 large businesses, which have more than 250 employees” (Statistics courtesy of Startups).
- Know the power of running your business in an online-only environment. For years now new businesses have been developing rapidly in an online space. More and more physical business locations are struggling, with more notable high-street closures year, even at the start of this new decade.
Move with the times!
The Guardian reported that, “the CRR also calculated that 16,073 shops closed around the UK in 2019, or around 61 every working day. That was an increase on the 14,583 shops which closed in 2018.” This is why taking your new business into the online world is the only way to take a strong forward step this year.
With the gig economy moving at a fast pace in the UK, a passive income maybe an option, try to take an online course to learn new skills.
2020 could be the perfect year for you to begin your new business venture and fresh business opportunities. We’re living within an ever-changing market that has a high street with something to prove and a current crop of online success stories that are rising higher and higher.
Don’t let COVID-19 cancel your plans
There is no getting away from the fact that since March 2020, things haven’t been easy on business owners around the United Kingdom. Many ventures have closed down permanently and the vast majority have experienced temporary closures at the very least. People have lost their jobs, been made redundant and even faced with business insolvencies. All of these things have become a regular occurrence for us now whenever we switch on the news and view the current state of our economy, but despite all of that, you shouldn’t be completely put off of the idea of starting a business of your own.
Of course, it is very difficult to persuade someone to start their own business venture during the time of a crisis: in our case the current ongoing global pandemic. However, if you have a strong enough idea for your very own firm, there is no need for you to simply stand by and allow your dreams to be crushed. Sure, a shift in the planned timing of the beginning of your new company may be called for, but in some cases you’ll still be fine in starting things from now.
If you plan to run an eCommerce business venture, or any form of business model which operates mostly in a digital environment, you may actually find you have more success now than you would if the world had gone back to normal. Remember that people are stuck at home, spending more time online than ever before right now, so you should aim to strike while the iron is still hot.
We hope this article has helped you to narrow down your business ambitions for the year, or at least given you some other possible options to consider. The road you travel down will be completely of your own choosing, but you should make the effort to remember that the pandemic is still at large and looking to get worse before it gets any better, so set your sights on a business model that can cope with the current crop of restrictions. 2021 could be a great year for new small business owners if it turns out that people can begin to live their lives in a more normal fashion once again.
If your dream is to start a business in 2021 we wish you the best of luck, take a quick view at our business start up loans and grants page, it might give you some clarity on how to fund your venture.
If you are looking to start a business maybe a Business Cash Advance could help fund your venture apply online today.