Whether you’re a seasoned entrepreneur or thinking about setting up a business for the first time, the new year is a great time to turn your business ideas into a reality. But finding that one single idea that will really take off can be tricky. So we’ve compiled a list of the top 10 businesses to start in 2023 to help inspire you to get going on your business journey.
1. Print on Demand
With today’s consumers demanding unique products and personalisation, the print-on-demand industry has seen an enormous surge in growth that shows no sign of slowing in 2023.
Print-on-demand (POD) offers a streamlined solution for bypassing the time and investment involved with managing inventory, making it an ideal startup for solo entrepreneurs and small businesses. POD enables you to create custom-made products at a fraction of the cost of manufacturing them yourself, while having the logistics of printing and shipping taken care of by an external supplier.
POD involves customising your own designs on items such as t-shirts, mugs, bags, or phone cases – to name just a few!
And the best part is, you collaborate with a supplier who will manage the printing, packaging, and shipping on your behalf, as and when your product sells – meaning there are no costs until there’s a sale.
One of the easiest ways to get set up with your own POD business is to add a plugin like Printify or Printful to your eCommerce site and consider ways to promote your business, be it via social media or through a Google Adwords campaign.
If you’re yet to set up your store online, check out our handy guide that covers how to create a website for a new business.
2. Personal Wellness
From online therapy sessions to yoga and meditation classes, nutrition and dietary supplements, and life coaching; the demand for personal wellness products and services is at an all-time high. So it perhaps comes as no surprise that health & wellness startups are on the rise for 2023.
With a growing focus on the importance of self-care, the influence of social media, and more awareness of chronic health conditions, people are increasingly looking for ways to prioritise their physical, mental, and emotional well-being.
If this is your area of expertise and you’re equipped with the knowledge and relevant qualifications to offer the right support, then now is a brilliant time to put your expertise into practice and launch your personal wellness business.
3. Online tutoring
Following the pandemic, the shift to remote education has presented new challenges for learners of all ages. Whether it’s school students seeking additional support outside of the classroom, or workplaces transitioning their teams to training programmes from home, the demand for online tutors is rising.
Not only this, but the increase in more flexible ways of working has allowed people to dedicate more time to personal hobbies and interests, such as brushing up on a second language or mastering an instrument.
Online tutoring not only offers students greater flexibility, but tutors too can gain more freedom, since they can offer their specialist skills from anywhere, at any time, enabling them to adopt a more flexible work life or earn an extra income outside of typical school hours.
There are a variety of options for advertising your tutoring services; be it via social media platforms like LinkedIn or TikTok, or through one of the dedicated platforms that exist such as MyTutor or SuperProf.
4. Holiday rentals
Data indicates that 2023 will see a boom in UK staycations due to the cost of living crisis, and as a result we can expect holiday rentals to become even more sought-after.
So if you live in the heart of a tourist hotspot, have the extra space for guests, or have a unique home with a wow factor – hosting your home as a holiday rental could be an extremely lucrative business move this year.
Sites like Airbnb (which saw record profits in 2022) and Vrbo make listing your space to potential guests a breeze, giving your rental listing exposure to millions of holidaymakers across the world. But there are some legal requirements to be aware of before listing your property as a holiday rental, so be sure to check these out first.
5. Pet Sitting and Dog Walking
For many, working with animals is a dream job! And if you’re passionate about pooches, then pet sitting or dog walking can be a great way to turn your passion into a profitable and rewarding career.
The pandemic saw the UK pet population soar, but with many pet owners returning to the office, more and more people are relying on professional dog walkers and sitters to take care of their furry friends during working hours.
6. Video Production
With video consumption continuing to experience rapid growth, it’s no longer a medium that companies can afford to ignore. 86% of businesses are thought to rely on video as part of their marketing strategy, making it a highly valuable service.
While the upfront costs involved with investing in the right equipment can be expensive, the creative and financial returns can be hugely rewarding.
Whether you choose to help brands promote their products or services, or decide to capture people’s special moments at weddings and events, there’s a vast scope of possibilities for skilled videographers.
Choosing a specialist area to focus on will help you target your customers more effectively, whilst having an impressive showreel available will help you stand out in what is a relatively competitive market.
Hectic schedules, the rise in food delivery apps, and a shift to favouring more casual dining experiences have all led to a notable increase in food-to-go businesses in recent years. As people become more health-conscious and time-poor, they’re searching for more diverse cuisines and options for eating on the move.
And if investing in a restaurant or a fully-fledged commercial kitchen was holding you back from your culinary innovations, then you’ll be pleased to hear there are other cost-effective avenues to consider instead.
From shared rental kitchens that allow you to make flexible use of equipment and supplies, to mobile food vans that can follow the crowd at festivals and events, or even using your own home kitchen – there are more small-scale ways than ever before to get your food business up and running with minimal overheads.
8. Freelance Copywriting
Almost any business with an online presence will require assistance with its content. Whether it’s for product pages, blogs, newsletters, or adverts, there are a growing number of channels needing the regular population of engaging content.
This means launching your own writing business could be a great move, if you have the necessary writing skills along with the desire to work flexibly.
Today’s market offers a wide range of platforms to help freelancers reach customers from across the world; whether it be your own LinkedIn profile, or popular freelancing sites like Upwork, Freelancer, Remote.co, and Fiverr – there are now plenty of ways to connect with businesses and individuals in need of copywriting services.
As the world becomes more interconnected, translators are not only high in demand but they’re currently in short supply.
So if you speak a foreign language, why not capitalise on your skills by offering a translation service?
Both businesses and individuals need translators to communicate with a wider audience and introduce their products or services to new markets.
Translation requires very little financial resources to get started, and sites like Upwork and Fiverr allow you to gradually build your clientele from anywhere in the world, making it yet another flexible business idea.
To get even more value out of your service, you might like to specialise in a particular niche genre like medical or financial translation.
There are currently almost 465 million podcast listeners worldwide, meaning podcasting is more popular than ever before – and it’s an industry that’s set to expand even further in 2023.
Do you have a topic you’d like to express your expertise and views on? Podcasting gives you the opportunity to build a like-minded community and spread your content to a potentially vast audience.
Launching a podcast and building a large following of listeners probably won’t happen overnight. It will require consistency, dedication, and technical ability in terms of audio editing, but if you have plenty to talk about and determination, this could be a prosperous and enjoyable business opportunity for you.
There are plenty of hosting platforms that have emerged in recent years to help get your podcast heard, from sites like Buzzsprout and Podbean. These platforms also provide you with tools to help distribute your podcast to popular listening platforms like Spotify, Apple Podcasts and Google Podcasts.
So there you have it, the top 10 businesses to start in 2023
We hope this list has provided you with plenty of inspiration for taking that first step on your business venture this year.
If you have a business idea that’s not listed above, don’t worry! This list has been compiled purely to help spark some ideas, but you may have identified a different and unique need in the market. With the right ideas and expertise, there’s no reason why your business won’t be successful.
However, it is important to thoroughly research the viability and sustainability of your business idea before launching it, whether you plan to run it full-time or as a side income.
We wish you all the best for the year ahead. And remember, if you are ready to get started with your new company – we’re here to help!
Forming your limited company with us is simple. In just four quick steps your company can be created:
- Choose your company name
- Select one of our five limited company formation packages
- Enter your company details and let us take care of the rest!
We hope you enjoyed this blog post. Be sure to leave a comment below with any questions you have and we’ll come back to you. We’d also love to hear your favourite business ideas for 2023!