Brexit was a referendum conducted nationwide to take a vote whether the UK should remain in the European Union (EU) or leave it. The majority wanted their country to settle for a divorce with EU countries which led to many uncertainties concerning trade and business.
However, this uncertainty comes with many new opportunities as well, which were not possible hitherto. In this blog, we will apprise you some of these business ideas which can be profitable going forward.
Business Lawyer:
There are myriad companies doing business in the UK who have been trading with other EU partners under the EU law. However, laws governing these businesses will change now, and businesses need domain expertise in the context of policies, regulations, and legal aspects.
You can make quick money in this legal service if you hold prior experience in the field of law. As a legal advisor, you can charge them per hour to guide them about how they will have to tweak their operations with the new laws and policies in place.
Direct Lender
This business has been booming and has a bright prospect after the losses faced by individuals and businesses after the Brexit. Now, Covid-19 further exacerbated things in an already slowing British economy. People and businesses need capital to sustain and expand their operations, and the banks welcome not everyone.
These direct lenders offer debt consolidation loan to bad credit borrowers with no guarantor required. They are an alternative to banks that look for credit score while assessing borrower’s profile. Such lenders’ customer base has been increasing at an unprecedented pace for many years now, as it is a beneficial product for both the parties.
Financial Planning
According to many studies, the Brits are known to lack money management skill, and they prefer to live hand to mouth. Many millennial have now started to realize the value of financial literacy and the importance of budget spending. You need to have some background in Finance or some related certification like CFP, CFA etc. to take up this profession.
This increasing awareness is giving way to a new business opportunity for you to explore. You can start small in this business, approach a few prospective clients and teach them this art of saving money and the power of investing it in the long run. These few clients will bring more business to you by word of mouth marketing.
Trade Consulting Service
Trade (Import and Export) within the EU region has become a significant problem after Brexit. Now though, the Brits have decided to leave, the laws governing these imports and exports will change.
With this consulting company, you can help the small businesses navigate their way through the challenges they are facing about doing business with their European counterparts. Your company can advise them on how to cut costs of importing or how they can play with their prices to achieve a higher bottom line.
Recruitment Agency
Who knows you can be the next Michael Page tomorrow? Be it Brexit, or be it any change, there will always be a need for manpower in any developing or developed economy. Post-Brexit, people must be looking for a job switch, migrating to the US etc. That is where you can settle your business to help those umpteen job seekers by connecting them to the right companies.
Your employment company can also help the candidates by providing them career guidance and in return, get a consulting fee. If anyone has an already a loan and he wants to pursue higher studies, then you can help them by suggesting lenders offering loans with no effect of low credit scores.
Packers & Movers Business
There will be many residents and even companies moving too different cities and countries in the post-Brexit world. There is a lot of setup, equipment, furniture etc. that needs to be shifted to the new destination.
As a movers and packers company, you will offer the services for them to have smooth transportation and unloading. This business idea is entirely scalable and highly sustainable going forward also because tenants keep migrating to newer localities.
Co-Working Space Provider
We have all heard of the Gig economy taking centre stage now. To benefit out of this transition, you can start renting out space to such freelancers and people on temporary contracts.
For additional income, you can open a café offering drinks and other delicacies to the people working in your space. You can charge them per month for the area they are using or on an hourly basis subject to availability. You can charge a premium from customers when the demand is high, and space is not.
Description: This blog was written to give you insights about some of the business ideas you thought never existed and how they are relevant in the current scenario. To raise capital for starting any of these businesses, you can take loans as well.
