5 Potential High-Growth Industries That Could Emerge in the UK Soon
As any successful entrepreneur already knows, you should always be keeping an eye out for the next business opportunity. The most successful business people are those that are able to identify lucrative markets before anyone else, which is why attempts to do so are already a booming industry within the UK. If you’re wondering which emerging sectors could potentially become the next golden unicorns of the British economy, read on to find out.
1. Green Energy
This one might seem like nothing new to those who have been following developments within the UK’s energy sector, but recent events suggest that the UK may well lead the global green energy revolution. This year, the UK managed to reduce its carbon emissions by more than 7%, beating every other G20 country by a wide margin. In addition, the UK set new records this year for the amount of time spent without any coal power being used, with the longest being seven consecutive days, a feat achieved in May.
2. Medicinal Cannabis & THC Products
While the UK has nothing like the thriving medicinal marijuana market of its friend across the pond, legal and social shifts are suggesting that major change is afoot. The British government recently loosened up laws to widen access to medicinal cannabis, following a landmark ruling in August 2018, whilst laws around THC products have slowly been loosening up. It’s possible the UK may one day have a thriving market for popular high-THC content medicinal treatments such as Rick Simpson oil, an acclaimed American product that you can read more about here.
3. Private Security
The UK is already home to the largest private security company in the world, G4S, but that doesn’t mean that growth is about to taper off anytime soon. In the past couple of years, the UK private security sector has seen mammoth growth, with home-grown companies winning high-profile clients from the US, Switzerland, UAE, and Brazil. Couple this with the expected explosion in demand for such services in future years, and things are certainly looking rosy for this sector.
4. Film Editing
Did you know that a huge number of blockbuster Hollywood films have recently started outsourcing their special effects to the UK? The so-called ‘square mile’ for special effects companies, clustered around London’s Soho Square, has been enjoying a roaring trade in recent years as the British businesses based there cultivate a reputation for unmatched skill and creativity. This, coupled with the announcement that Sky News is building what may be Europe’s largest film studio just outside London, and it’s clear we have a potential economic juggernaut.
5. Education Technology
The small but rapidly-growing world of ‘EdTech’ is proving immensely profitable as the demand for innovative education soars. The use of UX design, psychometrics, and digital classrooms to enhance skill-learning is a market that the UK has quickly managed to corner, thanks, in part, to the abundance of talented educators from the UK’s world-leading university sector. As this industry continues to grow in years ahead, the UK will definitely be the one to watch.
You heard it here first. These are the industries that show the most promise to become UK powerhouses in the years to come. Maybe it’s time to consider breaking into one of these sectors before they become too crowded…