Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Industries with Most Risky Business Environments in the UK in 2024
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View a list of the Top 25 industries with most risky business environmentsBusiness Environment Risk for 2024: 6.9
The UK solar market has exploded over the past 15 years, with more than 14,000 megawatts of capacity installed in 2022, a huge jump from less than 15 megawatts in 2007. The majority of this growth occurred prior to cuts to government incentives in January 2016, though renewed government support has driven an uptick in installations over the last couple of years. Variations in the level of government support for solar power have spurred significant volatility for solar panel installers. Solar panel installation revenue is projected to surge at a compound annual rate of 8.6% to £1.1 billion over the... Learn More
Business Environment Risk for 2024: 6.9
Over the five years through 2022-23, hard coal mining revenue is forecast to fall at a compound annual rate of 26.2%. Before COVID-19 hit, coal prices were inching downwards as demand for coal from electricity generators fell. The drop in sales and revenue has contributed to a sharp drop in the number of UK coal mines in the UK, with numerous mining licences expiring.
The COVID-19 outbreak accelerated the closure of coal mines in the UK; however, as the pandemic started to wind down, coal prices rose in response to supply chain disruptions. Russia's invasion of Ukraine has also played a... Learn More
Business Environment Risk for 2024: 6.7
The Footwear and Leather Goods Repair industry has been constrained by challenging operating conditions. Low-cost imported shoes with thermoplastic soles have led to consumers opting for replacements over repairs. However, weak consumer confidence has supported demand, as low-income consumers have looked to reduce discretionary expenditure by repairing their shoes. Revenue is expected to grow at a compound annual rate of 1.2% over the five years through 2023-24, including a contraction of 25.8% in the current year, to £43.6 million.
In 2018-19, the industry was negatively affected by extreme weather conditions and one-off events during the year. Industry revenue was supported by... Learn More
Business Environment Risk for 2024: 6.6
Bridal boutique revenue is expected to creep downwards at a compound annual rate of 3.1%. Unsurprisingly, bridal store revenue is heavily influenced by the marriage rate. Unfortunately, changing social structures make marriage less of a priority – with Britons prioritising expenditure on education, travel and other experiences over-elaborate weddings. Historically marriage has also been viewed as an economic contract, a way for men to support women financially. Still, times have changed, and it's becoming easier for women not to marry if they don't want to. Regulatory changes like the Marriage (Same Sex Couples) Act have boosted legal partnerships and ceremonies,... Learn More
Business Environment Risk for 2024: 6.6
The Video and Game Rental industry has experienced massive structural change over the past decade or so because of the shift in consumer preference towards streaming services and the exit of major players. Over the five years through 2023-24, revenue is projected to decline at a compound annual rate of 21.1% to £12.7 million. This includes an expected 8% drop in 2023-24.
The industry's transformation has been driven by huge pressure on profitability driving more rental businesses to adopt online rentals and postal deliveries, in place of bricks-and-mortar stores. Despite attempts from the UK and US governments to combat piracy, it... Learn More
Business Environment Risk for 2024: 6.6
Companies in the Healthcare Construction industry construct, repair, maintain and alter health and social care buildings and facilities on behalf of private and public-sector entities. While private finance plays a vital role in the funding of healthcare real estate and infrastructure development, the capital departmental expenditure limit (DEL) of the Department of Health and Social Care (DHSC) underpins healthcare construction procurement in the National Health Service (NHS) and among NHS trusts. Healthcare estate provides the foundations for good health and social care delivery. As such, capital investment funding for healthcare construction projects has remained at the forefront of government policy,... Learn More
Business Environment Risk for 2024: 6.6
In recent years, the UK government has encouraged a shift towards low-carbon electricity generation to meet emissions targets. Rapid growth in renewable generating capacity has culminated in renewables accounting for more than 40% of electricity generation in 2022, up from 29.2% in 2017. Increased investment in renewables has boosted revenue in recent years, with government-initiated schemes presenting lucrative growth opportunities in the face of fluctuating electricity consumption trends. Electricity generators' revenue is forecast to increase at a compound annual rate of 3.1% to reach £30.9 billion over the five years through 2023-24.
Falling wholesale prices and a notable decline in electricity... Learn More
Business Environment Risk for 2024: 6.5
Demand for removal services is heavily influenced by residential and commercial property market activity and customers' willingness to spend on the range of extras specialist removal firms offer. Brexit led to an uptick in corporate relocations, with many multinational companies seeking to move from London to other places in Europe, with Dublin being the most popular location. According to EY's Brexit Tracker this trend peaked in the immediate aftermath of Brexit, reaching a peak of 12,500 UK-to-Europe relocations in 2016. In Q1 2022, this figure was just over 7,000, signalling a stabilisation and likely the beginning of the end of... Learn More
Business Environment Risk for 2024: 6.5
The UK's gin boom has spurred exceptional growth in gin production revenue in recent years, with an influx of craft distillers capitalising on a resurgence in the popularity of gin among consumers prior to the pandemic. Consumers were attracted by the healthier perception of gin compared with some other alcoholic drinks, as well as several new flavours and premium brands hitting shelves. The UK's strong reputation for gin production has ensured strong export demand in recent years, bolstered by favourable exchange-rate fluctuations in the aftermath of the Brexit-vote.
Gin Production revenue is forecast to contract at a compound annual rate of... Learn More
Business Environment Risk for 2024: 6.5
Revenue is forecast to fall at a compound annual rate of 1.4% over the five years through 2022-23 to £2.4 billion. Rising competition from overseas manufacturers has increased the share of domestic demand satisfied by imports. Economic uncertainty created by the Brexit vote and the pandemic has also weighed on revenue. However, investment in electricity infrastructure and government initiatives aimed at replenishing the country's housing stock has stemmed the fall in electricity apparatus sales.
In 2022-23, revenue is forecast to descend by 1.2%. Weak economic conditions and ongoing operational disruptions combined with fierce competition are likely to weigh on revenue, though... Learn More
Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Fastest Declining Industries in the UK by Revenue Growth (%) in 2024
VIEW ARTICLEBased on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Least Risky Industries in the UK in 2024
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