We’re more than half way through 2018 and we’re already seeing plenty of innovative new businesses starting up. We’ve gathered together some of the best business ideas from startups.co.uk, ranging from lifestyle trends to new businesses targeting newly defined demographics.
At Turner Little, we often work with brand new start-ups as well as more established SMEs, and it’s always exciting to see a new trend working out.
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Swedish lifestyle trend
Remember ‘hygge’ way back in 2017? The Danish concept for all things snuggly has given way to ‘lagom’. This time from Sweden, the lifestyle trend is exploding across social media, and means ‘not too little, not too much’.
Major brands including IKEA are already getting involved and pushing out everything from tech to home décor inspired by lagom and there is a huge opportunity for enterprising start-ups to get on board.
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Going back to the 90s
It had to happen at some point and in 2018, the 1990s are back. Millennials are the consumer group that companies target with lifestyle and fashion and they’re expected to spend more than $200 billion this year.
Earlier in the decade it was all about the 1980s, but now we’re looking at old retro favourites including clothes, cassette tapes and gaming. A forward-thinking brand could and should run with this trend as it’s set to be huge into next year too.
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Boosting mental health
Dubbed ‘teenaiders’ the business trend to combat the increasing pressures facing 2018’s young people. It’s been found that social media channels can be harmful to young people’s mental health and businesses that can cut through this damage and bolster teenagers’ confidence are in high demand. This could be a business that takes teenagers outside more, or it could be a clothes line that encourages everyone to be body confidence. Either way, it’s all about the positive messages.
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New superfoods
Superfoods are always good for new start-ups. This year’s is spirulina, also known as blue algae. It’s got an impressive nutritional profile with 60% protein and can be incorporated into everything from coffees to snack bars.
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Making renting easier
The millennial generation is definitely ‘generation rent’, as getting on the property ladder is increasingly difficult for young people. This means that there are plenty of opportunities for new offerings to make renting better and easier, whether it’s an app for shared living or solutions for cheap housing.
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Inclusive beauty products
Pretty much every major beauty brand is all about inclusivity, with new product ranges promoting diversity across age, race and gender. There are still many opportunities for beauty entrepreneurs and start-ups to get in there with a positive, inclusive message.
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Voice tech start-ups
The voice tech industry has very much caught the consumer imagination. Amazon’s Alexa has cornered a 70% market share, which means that there are loads of opportunities for tech start-ups to build up Alexa-integrated skills. This could be a golden opportunity for a coding expert with big ambitions.
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Posh mixers
Gone are the days of a plan gin and tonic! As sales of specialist gins continue to explode, premium tonics are also rising fast. Sales of specialist tonic rose 36% in 2017, with premium brand Fever Tree more than doubling its profits for the first half of last year.
There is a big demand for natural flavours and organic mixes due to the impending implementation of the sugar tax, so now is a great time to come up with a high-quality, bespoke soft drink mixer.
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Health tech for women
The health market for women is ready for major disruption. There are lots of innovative and pioneering start-ups overseas in this sector, and now the UK is at a good point to start catching up. This could include tech that comes up with solutions for fertility problems, menstruation or breastfeeding, for example. In the UK, this sector is underserved and under-researched and is likely to be a huge market by 2025.
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Late night dinners
According to research from Waitrose on 2018’s food trends, many people in the UK are now eating a fourth meal. Whether this is a late-night dinner after a long day at work or a pre-workout fuel up, it seems that this is a trend that is catching on.
The key to capitalising on the need for 24-hour food is to offer something healthier and higher quality than a pizza. There could be scope for a late-night bistro offering healthy suppers or a range of nutrition bars specially formulated for late night eating.
If any of these have attracted your entrepreneurial attention, then contact the team at Turner Little. We’d be happy to help you get your start-up off the ground!
About Turner Little
Founded in 1998 in Yorkshire, UK, Turner Little is a specialist UK and offshore company formation, banking and corporate services provider. Our services include company formation, UK and offshore banking, asset protection, credit correction/repair, trademarking and trusts. Other services include Internet services, mail forwarding, wills and probate. Turner Little’s vision is to offer the best possible service, together with market leading products.
