These Are The Enterprises Set To Soar - And It Is Good News For Hospitality

(MENAFN- SWNS Digital) Thinking of starting up your own business? These are the enterprises set to soar - and it is good news for hospitality.

Business expert Alison Edgar, who has mentored winners of Dragon's Den and The Apprentice, said there has been a resurgence in businesses such as cafes, bakeries and wine bars, as people have an increasing appetite for unique, local experiences.

While AI, tech, beauty, and aesthetics are other industries worth considering as they are also sectors in which Alison claims consumer demand is high, barriers to entry low and innovation is constant.

From startups using AI to solve real-world problems, to salon owners offering high-end treatments at local prices, people are building businesses around what excites them, and their customers.

Alison Edgar said:“Starting a business always carries risk - but it also carries huge potential.

“If you really know your customer, and offer something with passion and personality, you've got every chance of building something brilliant.

“It's also important to be mindful of all your overheads, don't buy things you don't need, and make sure you keep a regular close eye on your bills.

“An easy thing small business owners can do is get smart meter installed which can help them to manage their energy use and costs.”

It comes after research of 2,000 adults, by Smart Energy GB, found 35 per cent are interested in starting their own business in the near future.

With seven in 10 Gen Zs hoping to go it alone in business at some point in their life.

Flexible working patterns (43 per cent), the ability to be your own boss (43 per cent) and being able to pursue a passion (38 per cent) are some of the things about running a small business that appeal.

While 37 per cent are drawn in by the earning potential and 35 per cent like the idea of having more control over their work.

Though nearly a third (30 per cent) said unpredictable income would be the hardest part of running their own business, and 21 per cent named not being able to afford overheads as one of their top three biggest concerns.

Other top concerns about starting up included not getting enough customers (37 per cent) and running out of money (36 per cent), according to the research conducted via OnePoll.

Victoria Bacon, a director at Smart Energy GB, which commissioned the survey, said: "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.

“Something that can help business owners to manage their cashflow is to get a smart meter installed.

“It measures energy usage in near real-time, giving accurate bills, rather than estimates.

"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.”

To kick things off, 68 per cent would seek some sort of advice – from friends who have a business (21 per cent), an enterprise support organisation (20 per cent) and a family member (17 per cent).

But three in 10 said a lack of funding is currently stopping them from getting their businesses up and running now.

Alison Edgar added:“My advice is start small, test the market, and don't wait for perfect - just get going.

"Dreams only work if you do.”

MENAFN03092025003911003267ID1110010322