Expert reveals top industry to launch your new business – and it might surprise you

More Brits are taking the leap to become their own boss, according to new research from Smart Energy GB. The study reveals that a third of Brits are enthusiastic about  self-employment, drawn by the prospect of flexible working hours and the chance to pursue their passions.

The entrepreneurial spirit is especially strong among Gen Z, with seven in ten hoping to launch their own business in the future. The promise of higher earnings and greater control over their work are major motivators. While choosing the right industry can feel daunting, there’s good news for those looking to make the jump as one sector in particular stands out as a top choice.

According to business expert Dr Alison Edgar MBE, who has coached winners of Dragon’s Den and The Apprentice, hospitality is thriving. She explains there has been a revival in enterprises such as cafés, bakeries, and wine bars, as people seek distinctive, local experiences. 

She also emphasised AI, technology, and beauty as encouraging sectors, highlighting strong consumer appetite, minimal entry barriers, and continuous 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.”

However, the study also uncovered some concerns: 30 per cent worry about an unpredictable income, 21 per cent worry about covering overheads, while others fear a lack of customers or running out of funds.

Edgar urges new business owners to be vigilant of overheads and steer clear of unnecessary expenses. “Keep a regular close eye on your bills,” she recommended, adding that fitting a smart meter can be a straightforward and effective method to monitor energy consumption.

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 taking the plunge, 68 percent of potential 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 hurdle to launching their business.

Edgar’s advice is: “Start small, test the market, and don’t wait for perfect – just get going. Dreams only work if you do.”