If you’re planning a tech business with exceptional earning potential, you should consider the startup infrastructure in the UK. The UK has a fabulous innovator visa that is highly conducive for business owners planning a startup in the UK. This visa allows foreign entrepreneurs to start a tech business with a minimum of £50,000 initial investment.
Foreign nationals could procure other visas and permits to start a business. However, before taking the plunge and investing funds, it is best to get the correct advice for immigration for reputed consultants and lawyers.
Why Start a Tech Business?
Tech companies are not limited to only IT, software, and hardware any longer. Tech startups are needed in all areas of business. The variety of industries in the UK, with the majority focus on development, research, and distribution of tech, is rising.
Tech businesses have one significant advantage – they don’t need a lot of startup capital. Tech companies can start small and grow to giants within a few years from their inception. The only thing tech companies need an abundance of the knowledge domain. They need personnel well versed in their chosen fields to help keep the quality of services and products at par with the demand in the market.
Which Are the Booming Tech Startup Ideas Currently on the Rise in the UK?
While there are plenty of software and hardware startups, there aren’t many that are solely concentrated on any one kind of idea. Let’s look at a few that have the possibility of tremendous growth in the UK.
Food Tech:
While several companies focus on developing tech to make food deliveries possible (aggregators), very few concentrate on technology related only to food, considering the ecologically conscious UK society, businesses concentrating on healthy, ecologically-sourced food and delivery have a higher chance of making it than those that don’t.
Vegetarian and vegan options for meat replacer foods are on the rise in the UK. Many times, food tech companies offer better tasting quality than the original. The best part is that the future of this industry is estimated at trillions of dollars globally, which hints at excellent growth potential and expansion.
Robotics:
Robotics isn’t only limited to mechanical arms—everything from electrical engineering, mechanical engineering, and computer science to information engineering. The future of robotics lies in full automation and mechanization of processes. Robotics is essential in several industries like retail, logistics, warehousing, transportation, and more. The ultimate goal is to include sensory input and movement.
What is most surprising is that even though many processes are getting automated and include robotics, the global robotics market is still set to grow exponentially within the coming decade. Investing in a startup or considering something in robotics is a definite way to ensure you have a great future for the business.
Artificial Intelligence:
Computer vision, natural language processing, machine learning, and more fall under the umbrella of ‘artificial intelligence.’ While artificial intelligence has been in the market for a while, and the advancements have been vast, the full potential still hasn’t been realized.
With machine learning, better algorithms, and additional levels of natural language processing, the tech implications of artificial intelligence in defense, safety, food tech, retail, cross-border trade, and more are astonishing. Considering the required developmental stages, UK startups can get in the game early to make a big name.
Web Design:
While many businesses offer web designing services, few can build and scale their businesses to reach greater heights than their competitors. This is primarily due to the quality of products and services offered. UK-based startups in the web designing space can provide better quality, higher resolutions, and better packages, to name a few.
Web designing need not only be limited to designing a dynamic or static website. It should also include payment gateways, portals, integrated UX, graphic designing, SEO, copywriting, and interface designing. In addition to these services, maintenance, page refreshers, and upkeep should also be included to get repeat customers and increase the brand image and quality in the market.
Apart from these startup ideas mentioned, you could also consider eCommerce businesses with private labels like dropshipping, publishing ebooks, offering online tutorial services (for languages, sciences, math, and more), and a sports or fitness-based tech company. If this is not your liking, mobile app development, app ideation, customizing apps, and more can also be considered. Other excellent ideas could be in antivirus, social media consulting, cybersecurity, eCards and gifting, web hosting, and more.
