Entrepreneurship is on the rise and approximately 2,000 new businesses are expected to launch every single month in 2017. But a new study based on emerging markets and growing consumer trends has revealed the best business opportunities that savvy entrepreneurs should be considering in coming months.
The study, entitled What business to start in 2017, has come up with a number of suggestions for start-up niches that market analysts believe are likely to attract attention throughout the year and beyond. Five suggestions include:
- Insurtech – The ‘Insurance Technology’ market is expected to grow, with more consumers seeking easy ways to research and buy insurance products on the move via smartphone apps.
- Men’s Haircare – The men’s haircare market will grow 11 per cent in the next five years, analysts predicted towards the end of 2016.
- Flavoured Tea – MarketWatch predicts strong growth in the global tea market this year – particularly in the UK, where consumers are seeking out new novelty flavours.
- Electric charge point installation – Electric vehicles (EV) are likely to dominate the UK car market in coming months, particularly in the wake of another car tax shake-up planned for April 2017.
- Alternative fitness – One in eight Britons use fitness clubs, but unusual and creative fitness classes are reportedly attracting the most attention.
If you are a budding entrepreneur setting up a new firm and establishing yourself in the business world, it is crucial to make sure that you are supported by experts who understand today’s business environment and are experienced in helping people just like you to achieve specific entrepreneurial goals. It is equally important to seek out expert tax-planning assistance and advice.
Wilson Wright are here to help. We can assist you with all tax-related matters and ultimately help you to get ahead in the business world. Our team can advise you on managing your spending and day-to-day costs, and help you to implement tax-efficient business structures and find your feet on the path to success.
For more information about our services for small and start-up businesses, please contact us.
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