Skip to content
City PM
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
  • DE
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
  • DE
Tuesday 24 May 2016 5:07 pm

Thinking of starting your own business? These are the industries you should avoid

By: Edith Hancock

Add as a preferred source on Google

The City is full of ex-bankers and brokers leaving their corporate careers to strike it out on their own.

Sometimes it's a roaring success, but sometimes things don't go quite so smoothly.

For many aspiring entrepreneurs, it doesn't matter how well you run your business. New research from Vonage has revealed the industry you choose can be a minefield.

Read more: Map: The best UK cities to launch a startup

Canada may have the highest startup success rate in the capital, but tread carefully; some of the more obvious sectors in the Square Mile are a no-go.

Bad luck for those who want to scale the dizzying heights of London's skyscrapers without wearing a suit. External building cleaning is the riskiest industry to set up your own business. The study found that almost a quarter of UK cleaning firms set up in 2014 have already folded.

[infographic id="784"]

Vonage says the City's big recruitment firms have little to fear from new rivals.

Read more: Brexit fears and a recruitment crisis have pushed construction wages up

Recruitment agencies came in third behind Film Production, with more than two in every 10 businesses struggling to survive for more than two years of operation.

 

Share this article

  • Facebook
  • X
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business

Trending Articles

  • Harry Styles at Wembley Stadium review: running through the grief

  • Nottingham Forest owner Marinakis announces £210m stadium plans

  • I’ve taken the best train trips in the world. Here are my 5 favourites

  • Natwest boss becomes latest City figure caught in AI social media scam

  • Nothing fails to file accounts months after dissolution threat

More from City PM

  • Elon Musk becomes world’s first trillionaire after SpaceX mega float

    Wealth
    Elon Musk speaking at a tech conference, wearing a suit, with a futuristic backdrop highlighting space exploration themes
  • London Tech Week day two: Talent alone won’t be enough

    Opinion
    Getty Images gallery showcasing recent business trends and innovations in technology with diverse professionals collaborating
  • How do you teach a robotaxi London? Waymo explains

    Tech
    Getty Images logo on a building facade, symbolizing brand presence in the media and photography industry.
  • AI is transforming job references

    Opinion
    Prominent hiring sign displayed in front of a business, indicating job vacancies and employment opportunities
  • London Tech Week sums up everything wrong with UK tech

    Opinion
    Attendees at London Tech Week 2026 conference networking and discussing innovations in technology and business
  • Devolution will create losers too

    Opinion
    Andy Burnham discussing Manchesters Bee Network public transport initiative at a city council event.
  • Luminance’s boss: Why building our own AI beats ‘rented intelligence’

    Legal
    Unfortunately, I dont have the specifics of the article content or title to generate the alt text. Could you provide more ...
  • Britain’s first sovereign AI model secures blue-chip backing as Starmer unveils £400m plan

    Tech
    Prime Minister Keir Starmer addressing media at a press conference podium, discussing current governmental policies and in...

City PM — European politics, business and analysis.

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Topics

  • Business
  • Markets
  • AI
  • Technology
  • Opinion
  • Energy

More

  • Politics
  • Economics
  • Fintech
  • Legal
  • Sport
  • Life

Company

  • About City PM
  • Editorial Policy
  • Corrections
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2026 City PM · Published by CityPM Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
About · Editorial Policy · Corrections · Contact · Privacy