With a third of Brits considering launching their own business, an expert reveals her top tips for getting started and highlights the industries worth exploring right now.
More Brits are taking the leap into entrepreneurship, building businesses that reflect their passions and excite their customers. From start-ups focusing on AI to solve real-world problems, to salon owners offering high-end treatments at local prices, people across the UK are exploring new opportunities to become their own boss.
According to research by Smart Energy GB, a third of Brits are keen on the idea of self-employment, drawn by the prospect of flexible hours and doing something they love. However, choosing the right industry can be daunting. Yet, business expert Dr Alison Edgar MBE, who has mentored winners of Dragon’s Den and The Apprentice, says there’s one particular industry thriving.
She explains there’s been a resurgence in businesses such as cafes, bakeries, and wine bars, as people seek out unique, local experiences. So it’s good news for anyone looking to go into hospitality. She also highlighted AI, tech, and beauty as promising sectors, noting high consumer demand, low barriers to entry, and constant innovation.
“Starting a business always carries risk – but it also carries huge potential,” Alison Edgar said. “If you really know your customer, and offer something with passion and personality, you’ve got every chance of building something brilliant.”
The entrepreneurial spirit is especially strong among Gen Z, with seven in ten hoping to start their own business at some point. Many are motivated by the potential for higher earnings and greater control over their work.
However, the research reveals concerns as well: 30 per cent worry about unpredictable income, 21 percent are concerned about affording overheads, and others fear not attracting enough customers or running out of money.
Edgar advises aspiring business owners to be mindful and avoid unnecessary expenses. “Keep a regular close eye on your bills,” she suggested, adding that installing a smart meter can be a simple and effective way to track energy usage.
Victoria Bacon, a director at Smart Energy GB, agrees: “The data from a smart meter can also help owners identify where they might be able to make some cost savings, which can help with managing overheads.
“The research shows people thinking about running their own businesses appreciate the benefits, but are equally aware of the pressures, particularly around controlling their finances.”
When it comes to getting started, 68 percent of prospective entrepreneurs say they would seek advice—whether from friends with business experience, enterprise support organisations, or family members. However, three in ten cite a lack of funding as the main barrier to launching their business.
Edgar’s advice to budding entrepreneurs: “Start small, test the market, and don’t wait for perfect—just get going. Dreams only work if you do.”