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, weve pulled together five of the mostpromising new business ideas for the coming year.
(1) Hygge interior design
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.
Praseeda Nair is the editorial director of Business Advice, and its sister publication for growing businesses, Real Business. She's an impassioned advocate for women in leadership, and likes to profile business owners, advisors and experts in the field of entrepreneurship and management.