Are you thinking of starting your own small business in 2022? Perhaps you are tired or unhappy in your current role and looking for a change. Or maybe you just want to make some extra money on the side. Whatever your motivation, 2022 is as good a year as any to start a business you can call your own.
You probably already have an idea of the kind of small business you want to start. But if you don’t and need some inspiration, you are in luck. Business insurance broker Simply Business has done research on some of the most popular small business ideas right now that might be worth a shot in 2022.
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Best small business ideas for 2022
Simply Business analysed all new business insurance policies taken out in 2020 and 2021 to find the fastest-growing small business sectors in the UK.
With their findings, they were able to craft a list of the 10 most popular ideas for small businesses right now. Many of the small businesses on this list have been shaped by the pandemic and the impact it has had on businesses and the lifestyles of workers.
So, what are these small businesses?
1. Craft stall
According to Simply Business, craft stalls were the fastest-growing small business trade in 2021, experiencing a 237% growth. If you have a hobby like candle making, pottery or needlework, opening a craft stall to sell your wares could be a venture worth pursuing this year.
2. Market trader
Covid restrictions as well as people generally feeling less comfortable in indoor spaces have seen outdoor businesses thrive since 2020. It’s no surprise, then, that market trading was the second-fastest-growing small business idea in 2021, with a 113% increase.
3. Online retailer
Online retail has exploded in recent years, in part because platforms like Etsy and eBay have made it easier for small retailers to set up shop and get up and running quickly. According to Simply Business, the number of new online retailers increased by 62% in 2021.
When it comes to selling goods online, the key is to do your research and select the right type of product. Some of the products that have traditionally sold well online include homeware, tech gadgets and accessories, exercise gear and clothing.
The number of freelance photographers in the UK increased by 56% in 2021, making it the fourth-fastest-growing small business.
This could be the ideal year to launch a freelance photography business, especially if you specialise in wedding photography. The number of weddings is expected to increase significantly this year as a result of all of the postponements caused by Covid-19 restrictions in the past two years.
5. Handyman or handywoman
One of the impacts of the pandemic is that many people have been spending more time at home. Not surprisingly, many have been finding issues with the current state of their properties and have been looking to make improvements or upgrades.
The result has been an increase in demand for handymen and handywomen, with a 44% rise in this type of business in 2021.
Catering businesses witnessed a 39% rise in 2021. If you have a passion for cooking, throwing parties or event planning, catering could be a great small business to consider starting this year.
Teaching or tutoring (in person or online) could be a great small business idea for people who have teaching experience or a passion for helping others.
Research by Simply Business shows that the number of businesses in this particular sector was up 21% in 2021.
8. Home baking
People have been cooking and baking more at home during the pandemic. Not surprisingly, some have looked to use their cooking and baking skills to provide income. As a result, the number of UK home baking businesses saw an increase of 24% between 2020 and 2021. This follows a 157% rise between 2019 and 2020.
9. Dog walking
Millions of Brits have bought pets since the start of the pandemic. This means that the demand for pet walkers is now higher than ever. New dog walking businesses have increased by 22% year on year.
If you love dogs, starting a dog walking business could be a great way to make some cash this year.
The number of self-employed accounts grew by 21% in 2021.
It could be a lucrative small business to start if you have the required education and skills. Stats quoted by Simply Business show that the average freelance accountant can make up to £52,650 per year.