Small businesses account for over 99 per cent of the UK’s private sector. 2017 presents some attractive small business opportunities to discerning entrepreneurs, here we give you some of the top ten small business ideas for this year.

1. Brexit Consultancy

Regardless of which form Brexit eventually takes, it is clear that the move will affect multiple aspects of the country’s social, legal, and economic life. Businesses of all types and sizes will certainly welcome sound advice about how best to tackle the ramifications of Brexit, so professional Brexit consultancy firms are likely to become one of the most in-demand industry sectors in the coming years.

2. Social Media Consultancy

Entrepreneurs with knowledge of digital marketing, social media, and business can take advantage of the unparalleled growth of these sectors with minimal investment. Social media consultancies can focus on delivering training, providing management services, or both, and can easily be run from home or remotely.

3. Co-Working Spaces

The rise in the number of start-ups, remote workers, and freelancers has translated into a need for suitable working spaces that offer flexibility and first-class business services. Co-working spaces are popping up all over the UK as an alternative to traditional offices and their popularity is only expected to grow, both in London and in other regions.

4. Shared Living Spaces

Shared living spaces offer the convenience and quality standards of a hotel along with a convivial and homely atmosphere. This is an attractive proposition for certain segments of the population (particularly millennials, young professionals, and digital nomads) who may find that accessing the traditional housing market is difficult or not suited to their needs and lifestyle.

5. Meal Subscription Services

Not only British consumers are becoming more aware and knowledgeable about their food choices, but they are also increasingly requiring convenience when it comes to their meals. Meal subscription services are an interesting and versatile niche that can cater to the demands of savvy consumers. For higher chances of success, you could choose to focus on specialty meal delivery (e.g. gluten-free, vegan, Japanese, organic, etc.).

6. Craft Alcoholic Beverages

The UK’s craft beer market has been experiencing important growth for over seven years, and the prospects for independent brewers continue to look good. Breweries, microbreweries, and craft beer subscription clubs are some options worth exploring, but don’t feel you should limit yourself to beer. The production of craft liqueurs and spirits are also a business idea with much potential for success.

7. Sugar-Free Drinks

The UK’s controversial sugar tax will be implemented in 2018, and this presents a wealth of business opportunities for entrepreneurs who are willing to capitalise on alternative and / or sugar-free drinks. Parallel to the introduction of the sugar tax is an increase in the number of health-conscious consumers, and both factors can contribute to the success of businesses that focus on the production of healthy sugar-free beverages.

8. Jive Dancing Lessons

Search engine statistics reveal that over the past two years there has been a surge in the number of people interested in taking jive lessons. This dance style is definitely experiencing a revival thanks to its ability to combine opportunities for socialising with chances to get fit and build confidence in a leisurely way.

9. Big Data Analytics

Businesses today have a wealth of online data at their disposal, but finding ways of making sense of huge volumes of data is not always easy. This is precisely why offering big data analytics solutions and applications to companies involved in finance, insurance, and retail can be a highly profitable business opportunity.

10. InsurTech

Providing technology solutions tailored to insurance companies is another potentially successful business idea for tech-minded entrepreneurs with a passion for innovation and a thorough understanding of how to connect consumers with insurance firms.

If you want to start or invest in a small business in the US today, there are literally millions of business ideas to choose from, so it’s a good idea to narrow your choices to a few profitable small business fields. Here is a list of the ten most profitable small business industries in the US, as of late 2016. Investing in or starting a small business in one of these sectors will hopefully give you a fairly high return on investment.

Specialized design: interior, industrial, graphic

The ability to create an attractive design, whether industrial or interior, can lead to a profitable career. Some specialized education may be required. Graphic and interior designers are in demand by other small businesses to help enhance and strengthen their image.  Industrial designers are sought out to improve the design, if not the function, of products. In today’s visually driven world, specialized design is among the most profitable small businesses.

Net profit margin: 11%

Consulting: technical, business, career

If you are an expert in your field and know how to help others succeed, consider a career as a consultant. Consulting services are always in demand, as every other kind of business needs advice and mentorship from time to time. Find or develop a niche and you have a nice profitable business that requires little overhead.

Net profit margin: 12%

Office administration and virtual assistant

Providing office and administrative assistance to other small companies is a niche small business that requires specialized knowledge, but not much overhead. These services are essential for most business owners. Offering the day to day paperwork management and record keeping, whether on site or at your own location, can be a profitable arrangement for both parties.

Net profit margin: 13% Read more »