In addition to tech businesses, there are also numerous other small business ideas that can thrive in the United Kingdom’s favorable business climate. Domestic entrepreneurs and their overseas counterparts will welcome the country’s tax and business regulations; the government has also created a tax to encourage a different culture of enterprise, entrepreneurship-free zones, and tax havens. This list may be helpful if you are considering starting a tech business and searching for new, low-cost ventures in the United Kingdom.
What is a tech business?
Companies in the technology sector focus on designing, producing, and disseminating technologically advanced products and services, although their outputs have widespread use. Manufacturers of electronic devices (Apple), developers of software (Salesforce), providers of IT-related services (Google), etc.
Our technology-based company concepts have low initial investment requirements, allowing you to launch with a modest footprint and expand. Coding boot camps are great places to start. Many successful tech entrepreneurs have shared their favorite ideas for creating a tech company.
Learn more: 21 Profitable Tech Business Ideas for Beginners [Infographic]
1. Start a web design company
Anyone can get started in business with web design, and it pays well. Despite popular belief, you can create a web design firm without knowing how to code. Numerous drag-and-drop website builders exist, making design a breeze; examples include WordPress Gutenberg, Webflow, Wix, Squarespace, and WordPress page builders like Elementor, Beaver, Divi, and Thrive Themes.
Read more: Top 7 Steps Involved in Web Design and Development Life Cycle
2. Food tech
Strazzulla, the creator of the HR software business SelectSoftware, anticipates rapid expansion in the food technology market. “Beyond Meat” is only the beginning of a new wave of companies developing sustainable, nutritious alternatives to the standard American diet. The technology is available, and the market for advanced nutrition is expanding at a rate that exceeds the global population.
3. Digital marketing
This century has brought about a more profound and meaningful interconnectedness between people, which is reflected in business. If you create a digital marketing company in your area, you’ll be able to serve clients worldwide. Your customers will be able to find you online regardless of their location, and they’ll benefit from the high-quality services you offer.
4. Extended reality
Both augmented reality (AR) and virtual reality (VR) systems are included in comprehensive reality technology. According to Kenny Trinh, publisher of the tech review magazine Net Books News, comprehensive reality technology will become increasingly commonplace in the years to come.
To differentiate themselves from rivals and provide a more satisfying experience for their clients, more and more companies will begin using extended reality, as predicted by Trinh. Several companies are already doing this.
To some extent, robotics is a catch-all phrase that includes but is not limited to mechanical engineering, electrical engineering, information engineering, computer science, and related fields. Engineered robots that can move and process sensory data are the end objective of robotics. Statista forecasts that this market will be worth more than $200 billion, up from an estimated $80 billion.
6. Build an NFT marketplace
Creating an NFT marketplace is the next step on the list of potential technological ventures. Increases in the value of NFTs may be seen from the $2.9 million paid for Twitter CEO Jack Dorsey’s first tweet to the $590,000 earned by Nyan Cat’s designer. It will become increasingly important to create a market for crypto artworks as the number of individuals participating in this movement grows.
Dig deeper: How to Create an NFT: A Beginner’s Guide
7. Start a tech blog
A technology blog requires careful planning, just like any other. A technical background is optional for blog creation. Freelance writers might be employed to provide initial content for a new technology blog. It’s up to you to determine the frequency and nature of your content creation and distribution strategies.
8. Influencer marketing
Instagram has facilitated a new type of marketing called “influencer marketing,” which involves paid product placements and endorsements from well-known people and brands in many industries. Only some people can be an influencer, but those with special skills or plenty of charm may build a successful brand by amassing a large social media following and working with a marketing firm that specializes in connecting influencers with companies. Alternatively, you may start a company whose sole purpose is to link companies with influencers who are a good fit for their goods and goals.
9. Remote working
Given the need to complete tasks online and away from the office, an entrepreneur searching for a method to make ends meet would do well to investigate the potential of remote employment. A large population must still do their duties from a remote location, and this workforce sector is growing in importance as new challenges arise.
10. Artificial intelligence
The phrase “artificial intelligence” refers to a wide range of technologies, including those used for machine learning, computer vision, natural language processing, and more. Although AI has been around for some time, as technology improves, so does its commercial potential. According to Statista, the industry expanded by 154%. This rapid expansion makes it an excellent technological field to establish a company.
Read on: 5 Key Benefits of Artificial Intelligence for Business [With Examples]
If you’ve been keeping up with the trends in media production over the past several years, you’ll know that podcasts have become wildly popular. Fifty-one % of Americans have listened to a podcast at least once, and podcaster Dre Baldwin thinks that number will rise in the coming years.
Baldwin suggests that business owners go to work immediately on amassing a library of podcast episodes. More and more individuals are listening to audiobooks and podcasts while traveling or otherwise occupied. To get customers’ attention, businesses need to “be in their ears.”
12. Software development business
Creating software that various organizations and people can use is an excellent way to start a lucrative business.
- software for mobile devices
- online software
- Instruments for automating data analysis
- automated systems for many customer care tasks and more
13. Mobile app agency
Apps are becoming increasingly crucial as mobile devices become the primary means through which individuals obtain and consume media. They’re the entry point for people to experience your brand regularly; if done right, they’ll keep coming back for more. Any company may hire a mobile app agency to design and develop an app for them.
14. Streaming service
Streaming giants like Netflix and Disney+ may get all the press, but there’s still plenty of room for a streaming service dedicated to less mainstream fare. Create a streaming service dedicated to children’s entertainment or one where users can contribute their tutorial videos. Also, you may create a service for broadcasting live video games (like Twitch) or music (like Spotify).
15. 3D printing
The ability to print a three-dimensional item from a digital model is one of the fascinating innovations. CEO of TechLoris Shayne Sherman predicts that as 3D printing technology advances, its significance will grow over the next decade. Sherman argues that 3D printing is as revolutionary as the assembly line and that production businesses will always be necessary. One-piece production of integral parts has sparked significant interest, particularly in the medical areas. As a result of this need, the number of 3D printing businesses is expected to skyrocket, making it a wise investment to enter the industry shortly.
16. Cybersecurity consulting business
Many opportunities exist to offer cybersecurity consulting services to customers. Consulting services can be provided hourly, with a predetermined rate for each increment of time spent on the job. Payment by the project is still another possibility. You will calculate the hours you anticipate spending on the project and set a price that you believe adequately compensates you for your time and work while also providing a healthy profit margin for your company.
Another technology that has been around for a long but still has room to expand is online commerce. According to Statista, online retail sales increased by about 10 %, from $500 billion to nearly $550 billion, during the last year. To start your online shop from the convenience of your own home, all you need is a good concept and access to the internet. Need something in mind to sell? You should not fear, as dropshipping enables you to launch an online store without burdening goods storage or distribution.
Read ahead: 15 Easy Steps to Build a Successful E-Commerce Mobile App
18. Portable charging devices
Even though we carry mobile devices everywhere, it is still too typical to have the battery fail when out and about. Because of this trend, the mobile phone charger market is expanding rapidly. BCC Research projected a 6.6% CAGR for the portable charging device market. This increase is fueled by the fact that many newer smartphones have smaller battery capacities. According to the report’s author, Mohammed Javed, the global market for mobile chargers will expand thanks to increased urbanization, disposable income, and mobile phone adoption. The demand for portable chargers is expected to grow shortly as the use of more advanced electronic devices, which need more power, becomes more widespread.
19. SEO consultancy
To be successful as an SEO consultant, you need to provide clients with a wide range of services. First, you’ll instruct them on search engine optimization, or SEO, to help their sites rank higher on results pages. For another, you’ll help them zero in on the terms that will propel them to the top of search results pages the quickest. Third, you’ll work with them to create a link-building plan that will boost their Domain Authority in Google’s eyes.
Consider the technical aspects of search engine optimization. There are several elements that Google takes into account while crawling a site, including HTML tags like headers, links, and pictures (to name a few). Last but not least, there is optimization for the back end.
20. Fitness tech
The fitness business is one more sector where the technology may be put to good use. Fitbit, Peloton, and Strava have revolutionized the fitness industry, and more exciting developments are coming. According to United Capital Source Inc.’s founder and CEO, Jared Weitz, that’s the case.
Weitz argues that the market is looking for new equipment and technology, so manufacturers should keep innovating by making fitness trackers, wireless earphones, and multifunctional smartwatches. This market is growing as more fitness-related applications and data are being developed to bridge the gap between digital and physical fitness. Couples a cutting-edge gadget with a health and fitness-focused app will make you well-positioned for future success.
Keep going: Top 10 Unique Fitness App Ideas for 2023
21. Online teaching
What languages do you speak? Are you capable of constructing a treehouse? People will pay you for your skills when you have something to offer the internet community. Educators can now create their online courses, sell them, and conduct the whole class remotely, thanks to platforms like Teachable and Udemy. You can make a decent living online teaching if you have something valuable to share with the world and know how to get the word out about your course.
22. Drone videography
Drones may be the latest craze in Hollywood, but their usefulness isn’t limited to Hollywood productions. Drones help film and photograph objects that would otherwise be difficult to capture from a unique vantage point. They’re capable of taking unprecedented 4K video and still images.
23. Bitcoin mining business
This might be an excellent chance for you to launch a tech company. Mining for Bitcoins is the simple act of adding new Bitcoins to the economy. Bitcoin miners perform this service by checking the legitimacy of transactions and resolving computationally challenging riddles. If they are successful, they will receive Bitcoins as a prize. It’s important to remember that Bitcoin mining is a highly capital-intensive venture, best left to large companies.
24. Antivirus developer
An antivirus developer is making antivirus software to assist firms in safeguarding sensitive data. Antivirus software aims to protect a computer from malicious software before causing damage. Meet local companies to gauge interest in this service.
25. Build an AI copywriting tool
Artificial intelligence copywriting tools are computer programs that can create text in response to a user-supplied prompt. They are efficient at developing the initial concept for the material, saving you time. Plus, they can speed up the content production process so you can get more done in less time.
The need for AI copywriters is rising, so you may make some cashing in on the fad. Those who do a lot of writing and blogging for their jobs are the ideal audience for a program that uses artificial intelligence to create copy (like writers and marketers).
In conclusion, starting a small business in the United Kingdom can be an excellent way for new entrepreneurs to turn their passion into a profitable venture. However, starting a business can also be a daunting task. From identifying the right business idea to building a website, it can take time to navigate the process. By working with a software development company like NeoITO, newbie entrepreneurs can access the expertise and resources they need to launch their businesses successfully. NeoITO can help by providing software development services such as coding, testing, deployment, and support with strategy, design, and ongoing maintenance and updates. With our help, you can turn your small business ideas into a reality and kick-start your entrepreneurial journey.
What are the top small businesses for newbie entrepreneurs to start in the United Kingdom?
Some popular small businesses for newbie entrepreneurs in the UK include online tutoring, freelance writing, digital marketing, e-commerce, and virtual event planning.
How can a software development company like NeoITO help newbie entrepreneurs start small businesses?
NeoITO can help newbie entrepreneurs start a small business by providing software development services such as coding, testing, and deployment, as well as support with strategy, design, and ongoing maintenance and updates for their website and other digital platforms.
What are the benefits of starting a small business in the United Kingdom?
Some benefits of starting a small business in the UK include access to a large consumer market, a stable economic environment, and a supportive entrepreneurial ecosystem.
How can newbie entrepreneurs identify the right business idea for them?
Newbie entrepreneurs can identify the right business idea by researching market trends, identifying their skills and interests, and seeking advice from experienced entrepreneurs or business mentors.
How does NeoITO help newbie entrepreneurs build a website for their small businesses?
NeoITO can help newbie entrepreneurs build a website for their small businesses by providing software development services such as coding, testing, and deployment, as well as support with strategy, design, and ongoing maintenance and updates.