A new nationwide study has revealed that 16% of tradespeople are thinking of taking a second job to make ends meet, while one in 10 are thinking about leaving the industry altogether. The research, by online radiator specialist BestHeating, highlights the challenges that the trade industry currently faces and the fears that many have for the coming year.
Of the 2000 trade professionals polled, 85% stated that they were pessimistic about the future, with many considering a change in career due to the uncertainty in their current job and the extra financial pressures of being self-employed. Further highlighting the serious worry within the industry, as well as the 16% who are considering a second job to improve their economic situation an additional one in seven are looking into a second job outside of the industry, with roles such as delivery drivers, warehouse assistants and restaurant workers all mentioned.
Responding to the ongoing cost of living crisis, 35% of tradespeople said that they have heavily discounted prices for customers so that they can keep their work. Bristol is the city that has done this most, where 64% of workers have cut their prices to appease clients. The research also shows that homeowners across the nation are trying to cut costs wherever they can, and one in six tradespeople has noticed that they have been called to fix botched jobs that customers attempted themselves before calling in help.
To add to their worries, more than two in five (44%) are concerned about the rising cost of materials and believe their finances will take a major hit in the coming months. Tradespeople with more experience fear this most, with 61% of those 55 and older stating this, compared to just 37% of those aged between 18 and 24.
Throughout 2023 one in five have experienced a longer delay in sourcing materials, which has led to them losing work or having to cut the quote for a job even further to appease customers.
Marek Kokocki, buying director of BestHeating comments: “It’s worrying to see that so many tradespeople across the UK have major concerns about the industry and are thinking of taking a second job or even changing roles altogether. It’s important that the nation continues to support them where possible and hire the correct person for important tasks rather than attempt a botched job that puts their home at risk. Businesses that supply materials or products can also play their part by providing better schemes that entice tradespeople to purchase their product with discounts as this has major benefits for their own organisation too.”
