Best Business Ideas for 2023

For many, the dawn of a new year means the chance to start afresh. But, while a number of resolutions involve self-control and cutting back (dry January, anyone?), what if 2023 became more about letting go and focusing more on what you could gain, rather than reduce?

For the tempted entrepreneur, could 2023 be the year you decide to make the leap into business ownership? Or start a side hustle, and see how it fares?

If you aren’t sure which route to go down, here are some of the best business ideas for 2023 that are growing in popularity as we enter the New Year.

Cleaning

Cleaning continues to rise in popularity, with new niches starting to form – all centred around customer convenience and the environment.

Some cleaning companies now offer a car valeting service at a customer’s home or workplace. Other companies target specific cleaning pain points such as blind cleaning, pressure washing and carpet cleaning. Whether you offer specialist packages within your broader cleaning business or dedicate your cleaning company to a specific niche, make sure to consider customer convenience within your business plan.

A business idea that will also continue to grow is green cleaning – where you use cleaning products and methods that are safer for humans and environmental health. Again, keep this in mind when planning out your offering.

Pet Care

With 59% of UK households owning pets in 2020-2022 – working out as 17 million households! – it’s easy to see why the pet care industry is booming.

We’re undeniably a nation of animal lovers, with lockdown solidifying our love of pets more than ever. Dogs are the most popular pets, with 12.5 million in UK households in 2022. But, with lockdown restrictions lifted and more owners going back to office working (or hybrid working), the demand for services such as dog walking continues to soar, with dog grooming and training also in high demand. If these ideas don’t sound like your cup of tea, there are many other pet care business opportunities available, such as pet/house sitting, behaviourist training, and even more product-based businesses such as selling pet accessories, food, or toys.

• Read more: How to open a doggy daycare business

Digital Marketing

The pandemic pushed more and more businesses into the digital age, however many business owners don’t enjoy, have the expertise – or have time for it! – digital marketing. If you have strong skills in this area and have a way with words, setting up your own digital marketing business could be just the ticket.

Try upskilling and learn how to design and build websites to further your profit margin. There are a number of user-friendly platforms you can use such as Squarespace, Wix and WordPress. Offering the full umbrella of digital marketing expertise will give your new business the best opportunity for success.

Dropshipping

Starting up your own e-commerce business via a dropshipping model is a popular move in the digital age, as it doesn’t require a big investment to get going, and you don’t have to stock any products at home or in a warehouse!

You only purchase a product when you receive an order from a customer. Simply find a supplier (generally found on AliExpress or Alibaba), create your e-commerce website (e.g. Shopify) then simply list what you’d like to sell from your supplier. Promote your website through social media and ads, and begin receiving orders. Once an order is received, place your order with your supplier, who then sends it to your customer’s address. The way you make a profit depends on the margin between your supplier’s price and the price you’re selling, so think carefully about your price points before launching.

Online learning and courses

Perhaps the most marketable commodity you have is your knowledge and insight. Sharing this knowledge in the form of an online course could be extremely lucrative, with very low startup costs.

Digital learning has become one of the most important ways people in the UK teach and learn new skills in the 2020s. While the social distancing measures brought about by the coronavirus pandemic certainly accelerated the growth of digital learning, recent technological advances and increasing connectivity were already making digital education more widespread amongst Britons.

According to Statista, between 2007 and 2019, the percentage of people who said that they had taken an online course grew from 4% to 17%, with 25 to 34 year olds the most likely age group to have used an online course.

It seems the BBC is already aware of this growing trend, launching BBC Maestro – a subscription-based streaming platform – in 2020. Designed to educate and inspire people to explore their creativity through pre-recorded lessons and detailed course notes, subscribers can learn about comedy from Sir Billy Connolly, discover how to write children’s picture books from Julia Donaldson, while learning how to cook from Marco Pierre White (and more!).

YouTube Channel

Is there a topic you love to talk about? Why not make videos about it, and put them on YouTube?

Creating a channel is easy to set up and could quickly become profitable if you take time planning great content for your target audience. YouTube allows creators to earn a portion of the ad revenue that their content brings in. You can also make a profit via sponsored posts on behalf of brands, selling physical/digital products and more. In terms of initial investment, simply purchase some basic video equipment to begin with, or even just your phone with a good camera. Spend time planning your content to ensure it hits the mark.

Then it’s a case of building a following to earn a profit. Link your YouTube channel up with your social media accounts such as Instagram and TikTok, as well as a blog, and you should see your following start to build.

If you’re creative when it comes to content, are a confident presenter and have a knack for marketing, a YouTube channel could be well worth trying out in 2023. And, if your content is about a subject you’re passionate about, it shouldn’t feel like too much hard work.

Virtual event planner

Online business events are growing year by year. There are a number of online tools available that make it easy to organise both virtual conferences and networking opportunities.

Virtual events were actually gaining pace in the industry long before lockdown, as it allows delegates and guests to attend events anywhere in the world. However, lockdown certainly forced businesses and event attendees to embrace the concept quicker than they might have. This sector is by no means a temporary flash in the pan. According to a study by LinkedIn, 45% of future B2B events will be completely virtual. Its survey of 200 B2B event organisers in the UK and Ireland found that 72% of businesses will maintain virtual events in the long term and 77% are interested in organising hybrids. In fact, businesses’ future event mix will be 32% physical, 45% virtual and 23% hybrid. Given £31bn a year was spent on UK B2B events pre-pandemic, this suggests the virtual events industry in the UK could be worth £14bn a year.

And let’s not forget about the environmental benefits of going virtual – less business travel (particularly flights) will mean businesses can cut down their carbon footprints and play their part in addressing climate change (a corporate responsibility that more and more consumers are expecting from businesses of all sizes).

Freelance developer

Quality web development is in high demand right now, meaning there’s an opportunity to earn high profits. Although you will need training to start this business, its high demand makes it worth it. Not only will you be able to build websites for small businesses, but you can offer ongoing technical support. There are a number of resources out there that will teach you how to code and develop websites. YouTube has some amazing tutorials – from the basics of HTML and CSS, to more advanced techniques.

best business ideas 2023

Health and Wellness

The global wellness market is valued at over $4.75 trillion and this figure is growing. In the UK, the health and wellness industry was worth $23 billion in 2020, and based on 2021 data, its growth rate is 10% and is expected to continue at this pace.

There will always be demand in this sector, as people regularly look to improve their health and wellness. Whether you’re a therapist, counsellor, life coach, yoga instructor, etc, you can offer both courses online and in person. If you have a particular passion or hobby, think about creating a course around this niche too, such as yoga for kids or life coaching for divorcees. (Ensure you have the necessary qualifications first of course!)

No matter which career path you choose to explore, always start with your skills – it will make starting up a business so much easier. Also – be passionate about your chosen route. It will make the hard work more enjoyable and can ultimately be the deciding factor between business success or failure.

For more inspiration, take a look at our Best Business Ideas for 2022, which are still very much relevant for 2023.