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: 7.0
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: 6.9
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: 6.8
Revenue is expected to contract at a compound annual rate of 1.6% to £11 billion over the five years through 2023-24. The pandemic significantly disrupted downstream manufacturing activity, as buyers had lower production, reducing the need for organic basic chemicals used as intermediate products. The temporary closure of construction sites across the UK during the COVID-19 outbreak meant sales of organic basic chemicals used to make plastic piping, wire coatings, insulation and other construction products fell, dampening revenue.
The Russian invasion of Ukraine hiked the price of key inputs like crude oil and natural gas. While high gas and oil prices... Learn More
Business Environment Risk for 2024: 6.8
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: 6.7
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
Over the five years through 2022-23, revenue is expected to fall at a compound annual rate of 4.1%. Large amounts of cheap steel on the global market have undercut British prices and caused major trade partners like the EU to institute import quotas. Unable to lower prices because of high labour costs and environmental charges, industry giants like British Steel and Tata Steel have stated a need for government intervention to continue operating. The industry is also wracked by volatility as overproduction followed by strict pandemic restrictions in China have caused global steel prices to fluctuate.
The Russian invasion of Ukraine... Learn More
Business Environment Risk for 2024: 6.5
Over the five years through 2023-24, the clothing manufacturing industry is expected to contract at a compound annual rate of 5.4% to £2.2 billion. Before the pandemic, manufacturers relied on the strength of the Made in Britain label and the boom in emerging economies, creating a new wave of consumers with spending power, desiring British-made goods and brands like Mulberry and Burberry. While production in the Far East is not as cost-efficient as it once was, imports have remained a significant share of the domestic clothing market, hindering industry growth prospects. Nonetheless, the number of manufacturers entering the industry has... Learn More
Business Environment Risk for 2024: 6.5
The Direct Selling and Marketing industry markets itself through single-level marketing (SLM), where representatives earn money solely from commission; and multi-level marketing (MLM), where representatives earn commission from both their sales and those they have recruited. Despite widespread criticism and links to pyramid selling schemes, MLM accounts for the majority of revenue.
Industry revenue is expected to rise at a compound annual rate of 1.2% over the five years through 2023-24 to £2.6 billion, including an anticipated 2.3% drop in 2023-24. This growth is due to solid performance in 2019-20 and a rebound in revenue following the effects of the COVID-19... Learn More
Business Environment Risk for 2024: 6.5
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: 6.5
Changing consumer tastes and volatile ingredient prices have caused turbulence for dairy processors in recent years. Industry revenue is expected to dip at a compound annual rate of 0.5% over the five years through 2022-23 to £942.7 million. Price changes have also caused profitability to be volatile as cost pressures from supermarkets have limited dairy processors' ability to hike prices. Following the COVID-19 outbreak, demand from supermarkets partially offset a fall in demand from food service operators, but sales still dropped down in 2020-21. However, since then, the industry's on track for two consecutive years of growth, including an expected... 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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