It is now a cliche, but the last few years has been unprecedented, yes – but also, transformational. Particularly from a business point of view. Not only has the way we work changed, but the type of businesses that are emerging are also, if not entirely different – very much evolved.
Businesses have and will always be shaped by their times. So what, in 2022, is the best type of business to start?
The purpose of this blog is to inspire you. Whether you go out and start one of these businesses or come up with a completely new idea, you need to do your research first.
Is there a market for your offering? Who will your competitors be? What’s your unique selling point? What are your projected figures? These are all things you need to consider.
And don’t forget, if you are ready to get started and turn that business idea into a reality – we’d love to help you get off to the best possible start with one of our company formation packages.
Now, let’s take a look at our 5 best businesses to start in 2022.
1. Subscription boxes
One of the most successful small business ideas of recent years is subscription boxes, which provide a curation of themed products delivered straight to the customer’s home on a weekly or monthly basis.
The lockdowns of 2020-2021 helped to accelerate the popularity and size of this market, but statistics suggest that the UK’s love of subscription boxes will continue throughout 2022 and beyond.
The most popular types of subscription boxes include:
- Drinks – coffee, craft beer and gin, wine and cocktails, low alcohol and alcohol-free beverages
- Fresh flowers and houseplants
- Healthy ready-made meals and recipe boxes – successful case studies include AllPlants, Hello Fresh, Gousto, Huel, and Mindful Chef
- Snack boxes
- Health and beauty
- Pet products
- Arts and crafts
- Curated lifestyle boxes
- Cleaning and other household products
The great thing about this type of business is that it can be tailored to any theme, even the most niche market. We all have different interests and requirements, so the options for subscription boxes are endless.
Whether you want to jump in on the most popular trends or offer something a little different to cater to small or underserved markets, there is the potential to create a loyal following and recurring theme of revenue.
2. Pet products & services
The latest statistics show that pet ownership in the UK reached an unprecedented high of 59% of households in 2020/21. We’ve always been a nation of pet lovers, but the last two years have seen a significant increase in the number of pets being purchased or adopted.
Unsurprisingly, cats and dogs are the two most popular household pets, with around 12 million cats and 12 million dogs living in UK homes. As a result, expenditure on pet-related products and services has risen significantly, reaching almost £8 billion in 2020 – up from £2.9 billion in 2005
The industry’s biggest business opportunities in 2022 and beyond include:
- Premium, healthy pet foods, many of which are sold as monthly subscriptions (more on these below!). Take a look at some of the most successful startups in this sector, such as Butternut Box, Noochy, Poochy, Untamed, and Bella and Duke
- Organic, biodegradable cat litter
- Pet grooming products, including professional dog grooming services
- Luxury boarding kennels and catteries
- Dog-friendly holiday accommodation
- Luxury pet beds and furniture – Calming Pet and Charley Chau are great examples
- Eco-friendly and interactive toys
Premium pet gear that is both stylish and practicable but designed around what is best for the animal. For example, food bowls, dog jumpers and coats, collars, harnesses, and leads
There are no signs to indicate that the boom in pet spending will change, so setting up a business that provides premium pet products and/or services will likely be a winner. That is if these offerings meet the needs of pets and their carers alike.
3. Web design and development
In light of past lockdown measures, we’ve seen an increase in new e-commerce businesses and existing small businesses that have had to move their operations exclusively online.
However, not everyone has the skills and knowledge to market, run, and grow their online businesses successfully. As a result, many small business owners require help to build, manage, and optimise their websites.
If you have the necessary skills and experience, or you are a tech-savvy individual who could successfully develop your skills in these areas, setting up a web design or web development business in 2022 could be extremely profitable.
4. Eco-friendly cleaning products
Ethical, chemical-free, eco-friendly cleaning products are set to be big throughout 2022, as more consumers are trying to shop and live sustainably. We’re moving away from single-use plastics toward reusable and zero-waste products and packaging, so this is a great market in which to start a new business that will thrive in the long term.
Some of the most popular trends in eco-friendly cleaning products include:
- Washing-up refills
- Laundry detergent
- Laundry bleach
- Dishwasher tabs
- Kitchen, bathroom, and multi-purpose cleaners
- Glass and floor cleaners
- Hand wash and sanitiser
There are many new businesses making great headway in this industry – such as Ocean Saver, Smol, Bower Collective, and Raindrop. Many of them also offer reusable cleaning bottles and containers made from recycled and recyclable materials.
Offering green cleaning services using these types of eco-friendly products is another business idea that is seeing increased popularity and demand from private households and commercial properties.
5. Digital marketing and social media management
Many businesses rely on digital marketing and social media to promote their products and services, attract new customers, and stay competitive and relevant. But a lot of business owners lack the skills, knowledge, or time to manage this side of things.
Setting up a competitively priced digital marketing and/or social media management service for small businesses could prove extremely lucrative in 2022 and beyond, as more and more businesses move online and require help in these areas.
And finally, your startup idea
Is your business idea not mentioned above? Don’t worry. This list has been compiled to inspire you. If you’ve found a gap in the market, or are an expert in your field – there’s no reason why your business can’t be a success.
Of course, if you are planning to start a business in 2022, whether as a full-time venture or to supplement your regular income – as we mentioned at the start – you really do need to research how viable and sustainable your business idea is in the long run.
We wish you the absolute best, and remember, if you are ready to set up a company, we’d love to be able to help.
We hope you have found this blog post helpful. Please leave a comment if you have any questions and we’ll be happy to help.