Video games are more popular than ever. Since their spike in popularity during the 2000s, the industry has continued to climb each year. As of 2023, the global revenue of the games segment was reported at 490 billion dollars, and this is forecast to grow further over the next three years.
It’s easy to see why the video game market is booming, too. Aside from being great fun, a study carried out by the National Literacy Trust (NLT) found that video games can even improve creativity, build better social connections and boost mental health in teenagers.
If you’re looking to start your own video game company but aren’t sure where to start, you’ve come to the right place. We’ve put together our top tips to help you build your business so you can entertain people with your creativity.
What Experience Do I Need to Start a Gaming Company?
As with most other businesses, you don’t need to have any official training or qualifications to start a video games company.
It is crucial to have a passion for video games, of course, but you also need the technical knowledge to design, build and programme your projects. You can obtain much of this knowledge through formal education, but many video game entrepreneurs start by honing their skills, such as programming, storyboarding and development, in their spare time before deciding to launch a video game company.
Depending on the scale of the game projects that you’re working on, it’s possible to keep the majority of the work to a single person. However, it’s more than likely that you will need to recruit expertise in concept design, animation, scripting and programming, either on a freelance or permanent basis. Having previous experience in the video game industry will help.
How to Start a Video Games Company in the UK
Creating a video game company is a popular career choice, but you need passion, skills and drive to make a good living and set yourself apart from your competition. To start your business, you will need to carry out the following:
-
Research your target market
Before you go any further on your startup journey, you need to assess the market and determine if there is enough room to grow your business. You may have a great concept and design team, but if there is insufficient demand for your game concept, it can be hard to break through the noise.
Take the time to research your competitors and learn who your target audience is. This is an incredibly important task to complete before you get started with the development phase. In order for your game to be a success, you’ll need to make sure that you’re appealing to the right audience and meeting their expectations.
2. Estimate the costs
You’ll need numerous powerful computers, high-end monitors, specialised software, digital drawing equipment, video game consoles and a proper workplace. Whilst you get started, you can work from home, which means you won’t need to spend too much on infrastructure and human resources, provided you are highly proficient in handling multiple requirements. However, bear in mind that, as your business grows, you may need to hire additional staff and decide whether you’ll work remotely or from a shared location.
3. Brand your company
As of 2023, there are 2,555 active video game companies in the UK. It’s a tight market to crack, especially when new startups are forming all the time. Therefore, it’s essential to create a branding strategy, which includes creating a business name, website and social media presence — this can take your company to the next level and appeal to gamers who want to be on the ground floor of your video game revolution.
4. Establish your video game business legally
For any private business started in the UK, the business owners should have registered their business name and address with the Companies House. Relevant tax registrations and appropriate permits and licenses are necessary too, so research what you need to do before you get started.