Sponsored by American Express Merchant Services
Despite all the doom and gloom all around, the world of business has shown its creative best to produce the most innovative businesses. From food stalls to social media influencers, new businesses sprung in every nook and corner of the UK during the coronavirus crisis.
According to a study by small business insurer Simply Business, which analysed the year-on-year rise in requests for small business insurance, home baking businesses rose the fastest, with a 157% year-on-year increase from 2019 to 2020.
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Alan Thomas, UK CEO at Simply Business, commented: “Small businesses and the self-employed have been hit harder than most by the effects of this pandemic. So, it’s encouraging to see green shoots of growth emerge, particularly those seizing opportunities to make viable small businesses in the home baking, courier and delivery and domestic services industries.”
Here are 10 weird and wonderful businesses you need to know about:
1. Food stalls – We all have our favourite food stools, which is a business that is tipped to be one of the biggest money makers this year. Try your luck.
2. Home baking – Simply Business has revealed there was a 157 per cent increase in home baking businesses across the UK between 2019 and 2020. The proof is in the pudding in that business.
3. Dog walking – The dog walking services industry’s revenue is anticipated to rise at an annualised rate of 1.7% to $979.2m over the five years to 2021. That’s a barking mad money maker.
4. Create a game – Briton Josh Wardle sold his online game sensation World to the New York Times for a seven-figure sum in February. Maybe it’s time for you to turn your lazy party game into a proper business?
5. Candles – One can smell the success of a candle business from afar just because of the sheer popularity of it. Aromatherapy sales have grown over the past years reaching $1.6bn in 2020. Go figure.6. Vacation rentals – The concept of Airbnb has made so many business-savvy property owners plan their holidays in a year in a way that their homes make them money. You’re all sitting on a goldmine with that business idea.
7. Rent out your parking spot – Live close to a stadium or an events space? Put up adverts to rent your parking space and you can make money with zero investment.
8. Become a TV extra – Becoming an extra on a television set is a lucrative gig that millennials are making a decent living out of. All you need to do is sign up for an online casting platform like Backstage and network with other actors to find future gigs.
9. Professional tea taster – Tetley made waves last year by advertising a Brit’s dream job of a professional tea taster. It’s hard work though – “10,000 hours of training across 450 skills need to be completed to be considered an expert, and that’s what we’re offering,” the job advert raid.
10. Professional queuer – Believe it or not, standing in queues can earn you good money. “Professionals” can get paid up to £20 an hour for lining up patiently for things such as standing outside Regent Street’s Apple showroom to grab the newest iPhone.
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