The world post-covid is already shaping up and we’re starting to see the effects in the Westcountry. More remote workers, less people in hospitality, but a definite demand for experiences, food and perhaps even tech.
If you’re thinking of a business to start in Devon and Cornwall, you might already have a few ideas. If one of them is a gourmet pasty shop, digital marketing, or some kind of dropshipping store selling low quality tat, please… Put the brakes on and look at these businesses that Devon and Cornwall really need.
Did you know businesses pay to off-set their carbon emissions, and they pay well. Currently the market is actually kinda small, at around $0.6 billion. But, its forecast to grow to over $200 billion by 2050.
What does this mean for Westcountry entrepreneurs? You could reasonable start a sea cleaning, tree replanting or any other form of eco-business and see some serious returns in the coming years. Indeed, with the landscape of Devon and Cornwall, and our position near the sea, there are a lot of opportunities for savvy eco-business owners.
Retreats and experiences
Obviously, hospitality has been hit hard by the covid-19 pandemic. And with the double whammy of Brexit, tempting low paid staff back to the bars and cafes of Devon and Cornwall might be a tricky proposal.
A possible alternative for the hospitality industry?
Longer term retreats, such as mindfulness, yoga and meditation, or action based escapes such as biking, surfing or other sports.
With our landscape, you can create any kind of experience and offer a very tempting proposal to people escaping the cities.
Digital nomad hubs
Another form of retreat could be the digital nomad hub. Regions such as Madeira in Portugal and parts of Italy have recently established offers to tempt digital nomads and remote workers to set up shop in their beautiful areas. So why not Devon and Cornwall?
By nature, digital nomads tend to be high earners who are looking for a place that can offer a high quality of life, low cost of living and good digital connections. And the digital nomad movement is forecast to grow even more in coming years.
Forward looking entrepreneurs in Devon and Cornwall could capitalise on this growing movement and make us a global hotspot for work from home.
With cannabis legalised or decriminalised in many countries, Europe and the UK do still lag behind. The next big market is forecast to be the benefits of psychedelics for mental health, and there is already a growing industry around the research into the effects of these natural compounds.
Yes, the potential for this business depends on the local councils and government granting licences. But a forward thinking entrepreneur with good government connections could very well make Devon and Cornwall a centre for research into mind-altering substances.
Recycled and locally sourced goods
While big companies focus on their sustainable lines, the world wants more in the way of locally sourced goods. We don’t want all our clothes to come from China, or even to buy brand new electronics.
There is an increasing demand for artisan and boutique goods made closer to home. From one off pieces of clothing, to custom made furniture. Making British goods fashionable again is already a process that is happening… Could Devon and Cornwall be on the map for quality goods?
Food and drink
Although there are plenty of food and drink businesses in Devon and Cornwall, it does seem there is plenty of demand. In cities such as Exeter, Plymouth and Truro, the pandemic has seen a changing of the guard, with many new eateries and food businesses starting up.
Thinking outside the box is often wise, with plenty of scope for craft beer or alcohol, food trucks that are unique to Deliveroo and pop-up catering.
The final word
There are plenty of ways to make the most of Devon and Cornwall, and if you’re looking at starting a business we hope these ideas give you some inspiration. Any other suggestions? Drop them in the comments below!