Business is like a well-oiled, machine which is constantly turning (ideally). If even one of these cogs becomes rusty and is unable to function correctly, then this can seriously jeopardise the entire company both in the short- and long term.
So, regardless of the industry in which your business operates within, and indeed your own specific position within the company’s hierarchical structure, here are the topmost sectors of industry across the UK in 2022 & beyond.
Technology
Naturally and indeed whether you are a particular fan of the way in which computers and associated technologies have taken over the world of work, technology is here to stay. As such, not only has technology taken over how a business operates, but furthermore, technology is certainly one of the largest sectors of the modern business world.
The technology sector is a huge driving force for the economy of the United Kingdom, as it is for the vast majority of other countries in Europe and farther afield, and employment opportunities in the field of technology are at the highest they have ever been in previous years.
One of the most progressive cities in the entirety of the United Kingdom, Bristol, certainly provides the proof to verify this. HR Dept recently reports tech overtakes engineering to become biggest sector in Bristol and as a result, Bristol’s unemployment rate has already drastically fallen.
What is more, technology has had a huge influence and involvement in all of the following other top sectors of business, too; so if you are looking for a change of career with a guaranteed progression plan, technology would certainly be your best bet.
Healthcare
Another titan of industry in both this country and internationally is that of the healthcare sector. Obviously, the last few years have placed immeasurable extra costs, stresses and huge amounts of pressure on the NHS and as a result, a myriad of significant changes are now in place.
The sheer power of the NHS and healthcare system in England, Wales and Northern Ireland seriously knows no bounds, and when properly financed and when possessing the right resources, the NHS can have a substantial economic force in both local communities and in the company-wide setting.
Furthermore, across the United Kingdom, the health and social care sector is responsible for the provision of jail over twelve percent of employment.
Hospitality
Hospitality is a broad term which covers a vast array of different service and public provisions, including but not limited to, the following:
- Food and beverages
- Tourism and travel
- Events and meetings
- Lodging
- Recreation
As of 2021, the United Kingdom’s hospitality sector accounted for 3.3 million jobs directly, with an additional 2.8 million indirectly.
The beauty of hospitality is that the sector comprises of a wide range of different services and locations which can be accessed by people who have little disposable income, with this being one of the main reasons why hospitality has remained one of the most profitable sectors of UK industry.
Retail
The retail industry has suffered immense setbacks over the past few years and it is no surprise to anyone that high street and physical stores are being usurped by online suppliers.
There have been a myriad of changes and adaptations that smaller retail businesses, as well as larger national and even international companies, have had to begin to implement to attempt to start fighting back against online shopping.
However, the fact remains that retail as a sector and industry will always be one of the five major components of the economy of the United Kingdom. Physical brick-and-mortar stores need to find new ways of enticing customers into their store, one of the primary ways being to make shopping in person a better experience.
Construction
Even though this country seems to be becoming more and more built-up and wholly urban with each passing year, the construction sector is the fifth-biggest titan of industry in the United Kingdom, with all research suggesting this will be a permanent position.
The UK’s construction industry adds an absolutely whopping £1.8 billion to the country’s economy each and every year, and directly provides over one million jobs. What is more, over 300,000 businesses are in some way intrinsically connected to the construction industry, with 99% being SMEs.
In the same way that the four other largest sectors of British industry have also experienced, the UK construction industry is currently in a chapter of change, mainly due to the step-by-step automation of each process over time.
