Home Business The Most Profitable Small Business Opportunities for Immigrants in the UK

The Most Profitable Small Business Opportunities for Immigrants in the UK

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Business opportunities for immigration in the UK
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As immigrants arrive in the UK, it becomes pertinent to find work or start a business using available opportunities. Those who prefer to start their own business have several options to choose from. 

According to the Federation of Small Businesses, small and medium-scale businesses account for three-fifths of the employment and around half of turnover in the UK private sector. Also, these businesses may or be without employees. This means you can comfortably pick amongst the most profitable small business opportunities in the UK to start as an immigrant.

What Does It Take to Start a Business in the UK?

Regardless of nationality, anyone can start a business in the UK. You just have to check your legal status, research your idea, and ensure you follow the due process of registering a business in the UK. Most business owners register as sole traders, limited companies, or partnerships. Whichever business structure you decide, you need to apply for the necessary permits and licenses. 

According to research conducted by the Small Business Administration (SBA) about 50% of small businesses are home based. Your business can be organized too from home depending on the type of business you intend to start. It is also important to note that the most profitable small business opportunities in the UK for immigrants are in certain industries. These industries are property, business services sector, wholesale, and retail sectors. 

What are the Most Lucrative Small Business & Investment Opportunities for Immigrants in the UK

1. Start Your Own Beauty Salon Business

Opening a beauty salon is one good business opportunity you can start as a foreigner in the United Kingdom. If you already have the skills and expertise, all that is required is to meet all the requirements to open your beauty salon. If you are not experienced but interested, you can start as an apprentice in an organized setting and build your own in record time. 

The beauty salon business is a top high-street business with a high level of demand for entrepreneurs who can help people look their best. There is a short supply of beauty salon business so you should take advantage to establish yours. It does matter where you are based in the UK, you can grow it to become successful.

2. Start an Event Planning Business

The United Kingdom offers a wide range of clients and businesses who often need event planners’ services. As an immigrant, consider this line of business particularly if you are event-centric, have eyes for details, and are a top-notch organizer. 

Is event planning a good business idea? The venture is profitable as an average event planner in the UK earns €20,000 to €40,000 per year. Yet successful eventpreneurs with a steady stream of clients can earn well beyond that range. 

However, keep in mind that earnings in the event planning business vary widely depending on factors like location, experience, types of events, and size of the business. Avoid as many event planning mistakes as possible and ensure you satisfy your clients.

3. Start a Cleaning Servicing Firm

The service industry owns a large share of small businesses recognized in the United Kingdom. If you intend to build a business that will survive time and tide, then consider opening a cleaning business that focuses on delivering customer satisfaction. 

You don’t need a big capital to start, you can start a home-based cleaning service, build a consistent clientele, and then expand as the business increases. 

4. Set Up a Moving Company

If you are experienced in logistics and scheduling, establishing a moving company business in the United Kingdom can be very profitable. But first, you have to decide on the type of moving services you will offer such as residential, commercial, or long-distance moves. 

The challenge of doing this business is that it involves acquiring reliable moving trucks and equipment such as dollies, straps, and packing materials. 

5. Start Your Own Coffee Shop

As an immigrant skilled or experienced in making coffee, one of the businesses you can afford to start comfortably in the United Kingdom is opening your own coffee shop. Studies reveal over 2.25 billion cups of coffee are consumed in the world daily and Americans are a huge recipient of coffee consumption. 

You can tap into the industry and be assured of generating daily sales to establish other small businesses. You can open chains of coffee shops within a period if you know how to manage the business. Immigrants looking for the best business opportunities in the UK can give this a shot.

6. Offer Online Tutorial Services

Immigrants who flock to the United Kingdom have several reasons to engage in tutoring services such as language school, specialized job/business courses, vocational programs, or other educational services. You can cater to this demand by first researching profitable tutoring niches before establishing your tutoring business. 

7. House Keeping Business

Foreigners in the United Kingdom can also consider the housekeeping business. It involves home maintenance, cleaning, and other daily home chores management. There is a wide range of busy UK residents who need the services of housekeepers to help them run their homes daily. It is a profitable business venture that immigrants can easily lay their hands on to earn comfortably in the United Kingdom.  

8. Handyman Services

Business opportunities for immigrants in the UK

If you have the technical know-how for services like building, plumbing, carpentry, electrical repairs, or painting, then consider starting a handyman business. You can use your home to set up a contact office. 

You have to be versatile in different types of trade as this is what will attract more contracts to your desk. A handyman must be open-minded and be ready to handle both small and big project offers at varying degrees of profit.

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9. Start a Car Wash Business

A car wash business is also a profitable business to start if you are an immigrant in the UK. The industry accommodates both skilled and unskilled workers as they offer basic services of car washing, cleaning, and waxing. 

If you are car-inclined and have the budget to set up a car wash centre, then consider opening one to earn and generate daily revenue. Look around for car wash business centres near you in the UK for practical tips.

10. Specialty Restaurant 

Immigrants in the UK from India, Africa, Korea, or China can tap into this opportunity to cater to the food demand amongst their communities. There a significant numbers of immigrants from various parts of the world. 

You can decide to open a Chinese restaurant, a Korean fast food, or an African Restaurant. Starting this business will also attract immigrants from ethnic groups to your restaurant who want to identify with the culture.  

How to Sustain Your Small Business

A study by US Bank reveals cash flow issues as the leading cause of small business failure. Statistics reports that 82% of failed business had issues with cash flow. Cash flow has to do with the amount of money that comes in and goes out, and the timing of the transactions. 

This is why it’s important to understand the mechanism of sustaining your business. Get the financial education you need in managing cash flow, payrolls, and your finances in general. If it requires you to hire a professional, do so to keep the business from crumbling.

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Conclusion

Before starting a business, attention must be given to details as the cost and effort of setting up the business is worth carefulness and monitoring. This is where research and planning is essential. Managing the business for the first two years is a major challenge for most businesses in the United Kingdom. 

Research shows that about 66% of small businesses endure the initial two years of operation and 50% of all businesses continue for 5 years. Meanwhile, only one-third of businesses continue to prosper after a decade. As an entrepreneur, you have what it takes to sustain your business, all you need is to put in the effort, preserve, and learn from others.

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Emenike Emmanuel is a multiple award-winning blogger, CEO of Entrepreneur Business Blog, Chief Evangelist of Ebusinessroom Ventures, and the Lead Coach of an online community of over 12,000 business owners called, The Excellent Entrepreneurs' Network. He’s here to help you start, manage and grow a profitable and sustainable business using digital marketing strategies. Follow him on Facebook, Twitter, Instagram, LinkedIn & Pinterest with this handle, @emenikeng. Telegram group - t.me/yourfirst1000 | Email: [email protected]

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