If you are considering moving to the United Kingdom to embark on a new life, your first thought will naturally be how to source income.
Although you could start by finding a job at an existing company, a more substantial long-term opportunity could be to start your own business.
This is because a business allows you to develop your wealth, which is vital if you are new to the country. It will help you to live in a safer and more prosperous neighbourhood, give your family the most security in the long term and provide you with the chance to retire early.
What’s more, if you are new to the UK, a business gives you additional status, which can help if you want to get involved in the local community, contribute to your new home country, pay taxes, and network with other influential figures in the local area.
Although starting a business is difficult, there are arguably few better places to kick-start your entrepreneurial journey than the UK. Historically, the United Kingdom is built on trade and has favourable tax laws, corporate regulations, and government grants, such as small business grants, compared to other Western nations.
To help, here are three business ideas if you’re planning on starting a new life in the UK:
A taxi business
A taxi business is one of the most reliable business models you can create. This is because it fulfils a basic demand within the local community and will always have a strong customer base.
Moreover, a taxi business does not require much training, skill, or upfront costs. The largest investment you will need is a vehicle, which you can source cheaply from cabdirect.com.
Moreover, a taxi cab business can be set up anywhere near a town or city. That means you can be flexible about where you live.
However, setting up your business in an area with few other taxi companies and a strong nightlife is a good idea. This will drive up demand and allow you to charge more money.
A restaurant chain
Another compelling business model to consider is the culinary industry. The UK is a hub for a vast range of cuisines and has a high demand for restaurants and other eateries.
Eating out is a massive part of British culture – whether indulging in a premium restaurant or treating yourself to fast food on a night out. There will always be demand for well-priced, imaginatively marketed, delicious food and a natural curiosity for other cultures.
Therefore, you could bring a taste of home to the area you move to in the UK.
A great reason to start a food business is the flexibility it gives you. Whether you want to start with a food van at weddings and events, stick to a local, family-run restaurant or scale it up into a national chain, you can take a British food business in several directions.
A coding business
Training yourself as a coder or software developer could be lucrative if you are looking for a business model that requires less upfront investment than the abovementioned ideas.
This is because coding and software development are skills in booming demand right now – especially in a thriving tech capital like the UK. All you need is a computer and the right skills to succeed.
