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Popular Business Ideas for 2022

When the turbulence of the pandemic turned out world upside down in 2020, many businesses went under, leaving countless professionals out of work due to this global catastrophe.

As we’ve begun to rebuild our communities over the past 2 years, the chaos caused many Brits to reconsider their career paths. Studies revealed that a fifth of us wanted to start our own business in 2020, with over 50% of young people aspiring to become entrepreneurs.

Since 2020, we’ve seen a huge increase in the number of startups and SMEs that have launched throughout 2021. This has led us to question what trends we can expect to see this year.

With this in mind, here are a few of the most popular business ideas leading into 2022.

Reasons to start your own business

It’s clear to see that the outbreak of coronavirus has left many young professionals hungry to jump into the driver’s seat and start their own business. This comes as no surprise, due to the countless perks of doing so.

According to reports from Business Leader, the crowning reason for those wishing to launch their own SME was a better work-life balance at 47%. The least popular reason, surprisingly, was to earn a higher salary, with only 27% naming this as a reason to take this plunge.

Here are the other top reasons respondents wanted to start their own business:

  • Wanting to be their own boss (44%)
  • Choosing their workload (40%)
  • Following something they’re genuinely passionate about (34%)
  • Gaining a greater sense of achievement (30%)

Financing a startup

One key area to consider when starting a business is the financial aspects of doing so. There are various funding options available, including different types of business loans. If you’re not sure where to begin, be sure to enlist the help of a professional advisor who can talk you through your options step by step.

Startup trends to look out for

There are a handful of common trends we’ve seen cropping up in the business world this year that are forecasted to stay.

Here are a few key ones:

Hybrid working

While this was initially introduced by businesses as a direct impact of the pandemic, businesses all over the UK are now continuing to keep this style of working in place. It’s important to keep this in mind if you’re planning on starting your own business. When it comes to recruitment, you will need to meet the new expectations of potential employees.

Flexible working hours

After months stuck in lockdown, many employers have become used to more flexible working hours to ensure a better work-life balance. This is something you’ll need to consider if you want to be competitive against other SMEs, to secure the best talent for your growing business.

Environmental impact

Lastly, with the climate crisis still upon us, sustainability is more paramount than ever. This remains a global focus, with many young professionals now actively looking to work for businesses that offer environmentally friendly perks. Consider what implementations you can make, such as carbon-neutral plans and recycling schemes.

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