There will always be a need for professional services no matter what curveball the economy throws at us
These suggestions are tailored to individuals with a degree or formal education.
Experience and skill hold a lot of clouts however and clearly anything is possible in 2020.
Take a look at your abilities and determine what transferable skills you possess that could be applied to one of these professional opportunities.
1. Brexit Business Lawyer
The clock is ticking, and time does not appear to be on your side.
With the December 31, 2020 deadline looming amidst a global pandemic, there will not be any further extensions.
A trade deal has not been agreed upon leaving many corporations and business owners facing an uncertain future.
Will there be tariffs?
What will business trading and free movement look like?
If you have legal expertise, entering into this niche of the legal system promises lofty return as business to seek professional advice on how to proceed with changes and implementing new policies around issues like:
Legal Considerations of Brexit For Business Owners.
How reliant a business is on EU freedoms.
Import/exports of goods & services from an EU country.
Hedging( investments, potential losses, or gains as a direct result of Brexit).
The sharing of data.
There are so many unknowns.
The legal professions will undoubtedly see an onslaught of new clientele as people attempt to wrap their heads around the changes.
This article offers additional insight into the questions and why considering Brexit law as a viable business opportunity will see substantial monetary compensation
2. Import-Export Trading Firm
As an entity, the EU is without question the Uk’s biggest trading partner with exports equalling $300 billion and imports earning $372 billion in 2019 as per this publication.
With potential changes to legislation, increased costs, price adjustment, and the looming uncertainty of a signed trade deal, business owners are scrambling to adjust their current procedures.
By offering your services as an import/export trade firm, you can assist corporations to navigate uncharted water while earning a generous compensation for your efforts.
3. GDPR Compliance Company
The GDPR( The General Data Protection Regulation) is the EU law around data protection and any personal data transferred outside of the EU or EEA area.
And it’s sticky with red tape.
With the deal or no deal mantra around a trade agreement the next steps concerning GDPR are nothing short of inconsistent as outlined in this post.
Business in the EU must adhere to GDPR standards.
In light of the growing uncertainty, UK companies that also operate in the EU will need to understand the new protocols to remain in compliance.
If you understand and can explain the ins and outs of the GDPR to business owners, you offer an invaluable service and an opportunity to generate a lucrative income for yourself with this top UK small business idea.
4. Employment & Recruitment Agency
Covid-19 has had disastrous effects on the economy and unemployment rates per this post.
Despite a looming recession and unemployment rates going back to the dismal days of the 1980s, there had been impressive industry growth in employment placement and recruitment agencies pre-COVID 10 to the tune of $38.9 billion during the 2018-2019 fiscal year.
The reality is that people will need assistance in securing employment-even if it’s temporary.
If you have a network of potential candidates or skills in Human Resources, then considering a recruitment and employment agency may not be as insane as it sounds.
Consider the big player like Hays and Robert Walters-they have been around forever and charge for their expertise and established brand.
As the new kid on the block. you could charge a lower consulting fee and be willing to do what they can’t or won’t.
You need energy, sales expertise, and a ton of contacts, but if you have the determination, this idea could pay you back tenfold.
The pandemic isn’t going to last forever.
Even with a recession, the economy will bounce back-eventually and with a shortage of job talent and an aging population, there will be jobs for those willing to work.
Brexit will also play a hand in people looking elsewhere for employment.
It will not be an easy climb, but when you make it to the top, you will secure substantial profits and financial security.
See the bigger picture.
If you build yourself and your brand now, you will be well established when the UK returns to an economic upswing.
Check out this article, providing step-by-step instructions on how to start a recruitment agency for more information.
5. Consulting Firm
Business owners understand that sometimes you need to spend money to make money.
Hiring a qualified consulting firm offers companies access to industry-specific professionals who can provide advice, guidance, and actionable plans to improve their daily business transactions.
The UK management consulting industry saw an 8.6% growth rate in 2019.
While the pandemic threatens to decrease advancement, at least in the short term, businesses will have problems and will need to retain consulting firms to solve them.
Sectors predicted to see continued growth are:
Industries Predicted to Require Professional Consulting Services:
Digital Strategies & Consulting
IT Programme Management
Government & Public Sector
Health & Life Science
Energy & Resources
Brexit Readiness Solutions
If you have experience or expertise in a specific industry, your talents will be in high demand as business owners work to bounce back from the financial challenges presented by Brexit and the pandemic.
This article offers additional suggestions for launching a consulting firm and begin capitalizing on this top UK small business idea.
6. Supply Chain Management
the landscape of business in the UK will change drastically as a result of Brexit.
To maintain profitability, business owners will need to alter their current supply chain management to ensure that the flow of goods and services is not disrupted while still making money.
The goal of supply chain management is to cut costs and deliver products to the consumer efficiently.
There will undoubtedly be a need for renegotiations or an alternate supplier.
If you have a head for numbers and logistics, this is a business idea that will generate substantial ROIs.
This article offers advice on how to start a supply chain management enterprise you can facilitate completely online.
7. Tele-Video conferencing
Remote work has quickly become a way of conducting business.
The use of video and teleconferencing experienced staggering growth as a result of the pandemic. This technology dependency is here to stay at least in some capacity for the long term.
With the rise of new Briton users at 18%, popular platforms like UberConference and Zoom are just getting warmed up, and there are a host of free platforms to choose from.
But tread with caution.
Not all are created equally.
There are several issues that business owners should be cognizant of before implementing any video or conferencing platform that you could assist with.
Tele & Videoconferencing Business Ideas:
-Ensure there are no security breaches (think SaaS or Cloud options)
-Address phishing risks.
-Implement organization policy settings.
-Provide online etiquette instructions.
-User simplicity courses.
Check out this article providing a detailed list of potential conferencing risks and how to keep potential clients safe.
Tele and video conferencing will continue to be a necessity around the globe for the foreseeable future to maintain business productivity, profitability, and staff morale.