Is your start-up set to surge this year? The 10 fastest-growing business sectors in UK

One third of North-east businesses hurt by Brexit says expert

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

For people looking to start their own business, it can be difficult to know what industry to set up in and where there is demand and room to grow. In order to help identify the sectors set to boom in the coming months and years, IBISWorld has provided expert analysis on the fastest-growing industries in the UK.

A theme of this top ten list is industries that were boosted by the COVID-19 pandemic, but these sectors are also predicted to continue to boom into the future as the repercussions of the pandemic continue to affect industry growth.

Safety equipment & supplies – 78 percent

It is no surprise to see safety equipment and supplies atop the list of high performers, with the COVID-19 pandemic a key reason for this sector’s growth.

Personal protective equipment is now more in demand than it ever was before the pandemic hit, and this has inadvertently presented a potentially lucrative business opportunity.

Online food orders and delivery – 45 percent

Demand for online dining has also grown during the pandemic.

Due to not being able to go out for a meal during lockdown, people had to turn to delivery options if they wanted a treat.

More restaurants began to offer home delivery that had previously refrained, and it looks like the trend towards takeaway dining is here to stay.

DON’T MISS
PIP: DWP issues ‘rallying call’ for disabled people to shape the benefits system – act now
State Pension warning: Rishi Sunak told triple lock ‘cannot be maintained’
Free today: You can stream movies & TV series through Filmzie with no cost – full details

Bicycle retail – 43 percent

One million more cyclists hit the road in 2020, meaning it could be a good time to enter the bicycle retail market.

Some people bought bikes to avoid using crowded public transport due to apprehension about COVID-19, whilst others simply want to get fitter.

Online alcohol – 42 percent

With online food orders surging, it is only natural that online alcohol orders followed suit as people looked to recreate a restaurant dining experience at home.

There are now more options for ordering to one’s home from convenience stores and off-licenses, contributing to the continued growth of this sector.

Ecommerce – 40 percent

Ecommerce companies such as the behemoth Amazon have massively benefited financially during the pandemic due to the need to order almost anything to one’s home.

Many people will have used ecommerce for the first time during lockdown, and people appear to be continuing to embrace the convenience of shopping online.

Here is the rest of the top ten high performers set to grow revenue this year:

Precious metals production – 40 percent

Online greeting cards – 37 percent

Video streaming – 33 percent

Language learning software – 31 percent

Online vitamins – 30 percent

Source: Read Full Article