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The UK is the sixth largest economy in the world and one of the top locations for entrepreneurs to launch their businesses. According to The Global Entrepreneurship Monitor, 56% of adults in the UK are involved in starting a business. However, this figure is steadily rising, with more and more people choosing to become self-employed or launch a start-up venture. To help budding entrepreneurs make an informed decision about where they should base their company, we’ve listed some of the most thriving industries for entrepreneurs in the UK. Whether you’re just looking for your first job or hoping to launch a new business venture, one of these industries could be perfect for you…

CBD

CBD, or cannabinoid oil, is becoming increasingly popular in the UK. Derived from the same plant as cannabis, many people find medical benefits from using this oil without the psychoactive properties of cannabis. The market is growing steadily in the UK, and aside from purchasing CBD in oil form, there is a range of skincare products, gummies, drinks, creams and more. For entrepreneurs with a passion for developing products, choosing to delve into the CBD market can be lucrative whether you choose ecommerce or a retail store to get going. You need to know the benefits of CBD payment processing for ecommerce ventures and regulations surrounding your products, but you can expect to do well in the UK in this market currently.

Fintech

Fintech is a term that describes the rise in ‘smart’ financial technology, such as apps and algorithms used to manage finances and track spending. Fintech has exploded in popularity over the last few years, with the UK fintech sector value rising from £19 million in 2014 to £14.4 billion in 2012. If you’re interested in becoming a fintech entrepreneur, you can expect to have a strong tech background and financial knowledge. There are many different areas of fintech to explore, from payment processing to fraud prevention. If you’re interested in exploring a career in fintech, the best place to start is by researching the market and the different companies in it. Think about the skills you have that would be useful in this sector, and then look for companies hiring in your field.

Digital Marketing and Advertising

Digital marketing and advertising are one of the most profitable industries for entrepreneurs at the moment. It’s also one of the most saturated industries in the world, but that doesn’t make it a bad idea to get involved. There are many jobs in advertising and marketing – from content writers and PR specialists to social media managers. If you’re interested in digital marketing, you first should decide which area of the industry you’d like to work in. There is a lot of crossover between different disciplines in digital marketing, but it helps to have a specific goal in mind when you start looking for jobs. The best way to get your name out there as a digital marketing or advertising entrepreneur is to build a strong online presence. Join industry groups online, create a blog and actively engage with people in the same industry. The more visible you are, the easier it will be to find a job in the industry, and the more likely potential employers will hire you.

Conclusion

There are plenty of thriving industries for entrepreneurs in the UK right now. If you’re considering starting a new business venture, it’s a good idea to research which industries are most profitable. Choosing an industry that’s growing and has strong potential for further growth can help you succeed as an entrepreneur. It’s also important to consider your own interests and skills when choosing which industry to work in. There are many different industries, so it shouldn’t be too hard to find one that’s right for you.