Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
The fastest growing industries for 2020
Reading Time: 4 minutesDespite the recent uncertainty around the economy, there are still industries in the UK which have enjoyed exceptional growth. They also have big projections for the future.
The UK is transforming into more of a service economy, meaning we are manufacturing less and selling services instead.
Though some industries will struggle and may eventually disappear, this does not mean it will kill the economy. It simply means that the UK will adapt.
This is exemplified by the massive growth of newer industries which are employing more people and contributing money.
As a result, opportunities are arising for people to learn a new trade and make serious money.
To help you understand how to capitalise, here is everything you need to know.
Fintech
Fintech is an acronym for Financial Technology, and the industry has exploded in size in recent years.
However, this is not an industry full of bankers, brokers and traders – it’s actually a long way from that.
Fintech companies include businesses such as;
- Monzo
- TransferWise
- ReceiptBank
- Tide
- Chip
- Curve
These businesses have been generating millions of pounds of investment over the past couple of years. The projections are that the money will continue to pour in.
These are only six businesses out of an entire industry which is growing by the month. Therefore, more and more positions will be open for applicants who want to join the boom.
Once more, these are not businesses which only employ banking types, there are a huge variety of roles for people to explore. There are plenty of jobs in content marketing and social media work.
Even if you have never worked for a financial institution, your skills will be valued if you can prove to be a hard worker and willing to learn, as these are the most important characteristics in an industry which is still in the early stages of development.
If you get in early, you could become an industry leader in a few years time.
Advertising and Marketing
More business are investing money into their online advertising and marketing, as it is becomes obvious they need to spend in order to attract customers.
This is good news for people looking to get into the industry as it means there are new types of roles being created, as well as more openings.
Furthermore, as a Campaign Live article highlights, there is actually a skill shortage, which is driving up the salaries of junior roles as firms compete to get people into roles.
There are even marketing agencies which run their own marketing courses in order to train a new generation of marketers. Take a look at The Agent Academy.
There are hundreds of entry level roles in marketing and advertising if you’re looking to get into the industry. A simple Google search will deliver a huge number of options.
Marketing agencies are also famous for providing employees with great benefits such as unlimited holiday, free lunch and flexible working. These are all important for achieving a strong work life balance, so do some research and find out what kind of roles may suit your skills.
You can learn more about making money as a marketing professional by reading one of our dedicated articles listed below.
How to make £25 an hour as a virtual assistant
Make extra income from digital marketing
Digital, Culture, Media and Sport
The UK Government recently announced that the creative industries are now worth £268 billion to the British Economy.
The creative industries consist of TV and film production, as well as theatre and any other form of art produced in the country.
Many people believe that the creative industries are closed off, but there are hundreds of positions available for people working in other sectors.
The BBC alone has a huge number of openings available at any one time, just take a look at their careers page by clicking here.
Pinewood Studios is one of the most successful and impressive film studios in the world. Recent movies such as Star Wars have been filmed and produced there.
It also employs a huge number of people, from sustainability managers to electricians.
Virtual and Augmented reality
It’s expected that the virtual and augmented reality industries will be worth £160 billion by 2020.
Although that figure is for the global industry, the UK is has one of the biggest creative industries in the world. This means that AR and VR will see a big increase in popularity.
It’s likely you’ve seen people wearing virtual reality headsets, playing games and sometimes completely losing their cool. Check out this reporter on Good Morning Britain screaming his head off!
Though the sector is a long way from being as developed as the others mentioned above, there are likely to be more and more openings in the near future as the technology develops.
Some of the latest openings can be found on Indeed by clicking here.
A useful and interesting article for 2019.