Business development · 11 January 2017

The best new business ideas for 2017

A record number of business registrations have been predicted in January this year, with research also finding that half of young Britons are planning to turn their hobby into an enterprise. For any success-hungry entrepreneur, it is important to think of new business ideas and inventive ways to succeed.

But what unexplored areas are likely to see a boom in 2017?

Supported by Google Trends research from Yell Business, we’ve pulled together five of the most promising new business ideas for the coming year.

(1) Hygge interior design

Hygge interior design
Despite the rush towards Hygge, a new trend could be ready to take its place as the latest Scandinavian import

One late trend that grabbed the imagination of Brits in 2016 was “Hygge”. Danish for “cosiness”, the Hygge phenomenon gave way to a range of books and merchandise that sought to reveal the secrets of the Nordic lifestyle.

After its introduction to UK shores in 2016, 2017 will surely see entrepreneurs use the commercial potential of Hygge to access more business opportunities, with the term was searched on Google 163 per cent more in the last three months than in the three months previously.

An area that could be waiting to be tapped into is the interior design space. Cornerlia De Ruiter, founder of design company Homewings, shed light on the craze for Hygge interior design.

“The recent public interest in the concept of Hygge has caused in an increase in demand for our business.

“Hygge is brought up more and more by customers during initial project consultations which our designers love. It helps create the overall concept for a new room or house,” De Ruiter said.

For entrepreneurs looking to stay ahead of the game, the latest Scandinavian phenomenom – Lagom – looks set to arrive. Translating from Swedish as “just the right amount”, the word has been tweeted over 13,500 times in the last three months alone.

Former TV Dragon and interior design mogul Kelly Hoppen spoke to Business Advice in 2015 and attributed a successful business to its owner’s ability to remain innovative and consistently identify new business ideas.

“A successful business never stays still and you cannot afford to either,” she said.

Keep reading to find out what other new business ideas in the food and drinks market we’ve identified for 2017.

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ABOUT THE EXPERT

Simon Caldwell is a reporter for Business Advice. He has a BA in politics and communications from the University of Liverpool, and previously worked as a content editor in the ecommerce industry.

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