2024 is here, and business is doing better in the UK than between 2020-2022. 2023 was the recovery year, and 2024 is the year for success and to start a company.

Thanks to rapid technological advancements and evolving consumer needs, some industries are thriving more than others.

Below, we’ll explore some of the most thriving industries in the UK.

Artificial Intelligence

We must talk about artificial intelligence (AI) because everyone’s talking about it. It’s transforming everything. And the UK’s AI market worth is one of the highest in the article – valued at over $21 billion.

AI transforms how we live, work, and operate as a business. Still, it isn’t without risks or limitations. Half of the time, the media focuses on those limitations. However, the market is booming.

AI applications that range from data analysis to customer service, and you can leverage it. The key to success in this industry lies in developing AI solutions that are accessible.

Considering the industry is in its infancy, it’s one of the best times to start a business.

Waste Management

The waste management service industry in the UK was valued at £1.2bn in 2023. As global awareness of environmental issues grows, waste management presents a significant opportunity for new businesses.

It’s not necessarily the easiest company to start – you need a passion for waste management, but it’s a thriving industry. Focus on using innovative technologies, attending industry conferences, and researching like you’ve never researched before.

If you feel confident to start the business, outsource to reputable suppliers like JP Concrete for equipment hire. It’s probably one of the more expensive business startups, but you can reduce costs.

The sustainability route is massive right now, it might be the perfect industry to go into.

Social Media Management

Social media is thriving. In 2023, the social media market reached a value of £5.09 billion. Most people’s days include social media – scrolling, looking for advice, famous influencers, there’s tons to do.

The industry is ideal for people who already love social media and have the commitment to stick with it. Because it’s a commitment. If you’re starting a TikTok account, for example, finding a niche and consistently making videos is essential. Not everybody has time for that.

Or there’s business. Every business wants to increase its online social media presence. There are business opportunities there.

Health and Wellness

Health and wellness is such a great industry – and social media is helping people grow a business in the industry. According to studies, the health, wellness, and spa industry reached a value of £7.3 billion in 2023. There’s a lot of money to make.

It isn’t just social media – innovators are focusing on mental health apps, fitness and nutrition coaching, and wellness tourism. And don’t sleep on TiKTok. It’s overtaking all other social media platforms for brand promotion, even if your band is personal.

2024 is a year brimming with opportunities for aspiring entrepreneurs. There are tons of industries to enter into. Not all of them will be successful, and even heading into the successful markets doesn’t guarantee success. And it’s even more tricky to find success in a successful market if you don’t enjoy it. One thing we will recommend – finding ways to make your own money online is more freedom.

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