Impacting trends on future business in 2030

The Side Hustle

It is estimated that roughly a third of businesses with fewer than ten employees are now run as side hustles, compared to 20.8 per cent in March 2020’ and that most of these businesses are run by millennials (under 35’s). Another estimate is that side hustles generate £72 billion for the UK economy. In addition, Twitter reported a 231% rise in mentions of ‘side hustle’ on its platform.

Agri tech

The sector is projected to grow over the coming years and will contribute to net zero through the effective use of technology. As a sector, it has thrived over the pandemic and is attracting investment and start-ups. Uk ranks 5th globally for investment and it is growing.

E-commerce

The UK has the most advanced e-commerce Market in Europe and is one of the sectors with the highest number of younger entrepreneurs, with 24,000 start-ups in 2021, Manchester and Liverpool being 3rd and 4th cities for start-up growth in this sector.

Net Zero

Government funding support for net zero in 2050, unlocking investment for green energy, hydrogen and electrified vehicles. There will be a knockon effect on local industry and businesses that are supporting sectors coupled with a shift to companies who start to think more about their sustainability and regenerative products to remove from landfill.

Digital technology

The market is predicted to expand by 22% over the next eight years through the adaption of IoT (internet of things) and the growing use of smartphones and mobile devices; data collection and security will also mirror this rise

Creative sector growth

The sector growth is expected to account for £300 bn in GVA, with most businesses in the micro sector. With the rise of digital and online development, the demand for creatives and technology will increase.