2020 brought with it huge changes for businesses across the world. The Covid-19 lockdowns affected all businesses one way or another. There were some that thrived whilst others were forced to close their doors and rely on help from the Government. Despite the uncertainty in the business community, 1 in 5 Brits now has ambitions to become their own boss.
There are many avenues to explore when you are considering becoming your own boss. But one of the things that you should explore is the business trends and statistics.
Although the health care industry as a whole had many challenges to overcome during the pandemic. Recent months have highlighted just how important safe and effective home care is. With an aging population and people living longer than ever, home care is an essential service. As a result, the demand for good quality home care has increased as have job applications to work in this rewarding sector.
Food & Beverage
Although the pandemic put huge pressures on the food and beverage industry, it also highlighted the flexibility available within the sector. In business, opportunity is everywhere and in this case, food and beverage business owners had the opportunity to utilise the takeaway and delivery sector. Although growth since reopening is steady, the turnover for May 2021 in the restaurant and mobile food services sub-sector increased by 5 and a half times compared to May 2020. This is mostly down to the takeaway services and outdoor dining options (Office of national statistics).
You don’t need to be a genius to know that the property sector is booming. House prices have surged across the country and June 2021 saw record numbers of people buying a house since records began in April 2005.
As for lettings, many people were already beginning to see renting as a lifestyle choice, rather than merely a stepping stone. Studies have suggested that by 2039 there will be more tenants than homeowners. Despite the changing regulations, rental demand across the UK appears to be accelerating.
Many lawn care businesses were able to continue trading during the lockdown. With contactless payments, the outdoor work was able to continue. Homeowners were forced to spend more time at home during 2020 and 2021 and as a result spending on gardens has increased. Around 71% of homeowners have invested in their garden since the beginning of 2020.
There have been ups and downs for the cleaning industry. With the reduction of people working in office blocks – the cleaning sector did see some reduction in revenue. However, as the economy began to open up again, the demand for cleaning services naturally increases. Hygiene and cleaning have been highlighted and are more important than ever. According to data from Google Trends, ‘cleaning services’ keywords have seen a big increase in searches since the second lockdown.
The lockdown has changed business, but it has also created new opportunities. If you are thinking about becoming your own boss, why not consider a franchise resale?