A Trade Report – Cost, Thefts and Opportunities

  Posted by: electime      18th June 2020

Howe Tools has conducted a survey which reveals insights into the life of a tradesperson including the costs of training, the impact of tool theft as well as their views on apprenticeships and technology in their trade.

• According to the survey, electricians are revealed to have the highest startup costs at just under £2,700 (£2,697.70), over three times higher than plasterers whose costs are around £714.50.
• Electricians are also the hardest hit by tool theft, with the loss of tools costing those surveyed an average of £1,401.
• When looking at the theft hotspots of the UK, the survey revealed Cardiff as the safest city with just under 3 in 10 (29%) of tradespeople experiencing tool theft, a stark contrast to Glasgow where more than 4 in 5 tradespeople (83%) have lost tools.
• 46% of tradespeople surveyed feel that there are not currently enough apprenticeships offered in their trade, highlighting an opportunity to bring new workers into the industry.

June 2020: Leading power tools supplier Howe Tools has conducted a survey of tradespeople around the UK to reveal the costs associated with being a tradesperson including initial outlays on tools and training as well as the UK’s tool theft hotspots. You can view the piece here.

Tools are vital pieces of equipment for tradespeople, without which they simply wouldn’t be able to do their jobs. Over the last two years, reports have suggested a 54% increase in tool thefts, which leave tradespeople not only without their essential tools, but unable to continue generating an income. But it’s not just theft that can cost tradespeople, with the initial outlay on tools and training also factors that any worker must consider.

What does it cost to get started in a trade?

When looking to start a career in a trade, every prospective worker must consider the cost of training and purchasing their tools. According to the survey, electricians have the highest costs at just under £2,700 (£2,697.70), with the £1,624.96 spent on training and £1,072.72 investment in a starter tool kit. However, electricians have also been reported to have the highest salary of any trade, so any initial costs are likely to be earned back relatively easily in comparison. Plasterers who participated in the survey have the lowest barrier to entry, spending £714.50 on average, with the lowest investment in training at just £164.11.

The cost of theft

With over £83,500 worth of equipment going missing every day across the UK, tool thefts have a significant impact on any tradesperson. Along with the highest startup costs, the survey has shown that electricians are also the hardest hit by tool thefts which cost them an average of £1,401 per year, with £299 of this resulting from loss of work, the highest of any trade. In comparison, plumbers have the lowest losses of those surveyed, at an annual average of £551, or around half of the average cost of £1.100 across all trades.

The UK’s tool theft hotspots according to our survey results:

Across the UK, tool thefts have increased by over 54% in the last two years, but theft rates do vary across the country depending on location. According to the survey, Cardiff comes in as the safest place for tradespeople with only 29% having experienced tool thefts in the city. In contrast, Glasgow has a theft rate almost three times higher, with 4 in 5 tradespeople (83%) surveyed from the city having experienced thefts. London scores relatively well, with just over 1 in 3 tradespeople (36%) experiencing theft, putting them on par with Liverpool (36%), with only Cardiff ranking as safer (29%).

Views of Tradespeople

When looking to the future of trade work, it’s likely that technology will play an increasingly important role, with 1 in 3 tradespeople surveyed indicating that they are concerned about being replaced by technology, such as drones or robots which are becoming an ever more common sight in the construction industry. However, these new technologies also pose an opportunity for future generations, who will be growing up as users of such devices. According to the survey data, 35% of tradespeople also think that they need additional training, but whether this is focused on using new technology or honing their skills, continuous development is always beneficial. It’s also crucial to encourage new workers to enter the field, a sentiment which 46% of those surveyed agreed with, feeling that there are not currently enough apprenticeships available in their particular trade. When this view is combined with skills shortages appearing in the industry, it highlights a clear opportunity for recruitment and more entry level roles.

Tim Howe, Managing Director at Howe Tools comments:

“There are many elements involved in being a successful tradesperson, with workers needing to have both the correct equipment and strong skills in their profession. With the ever changing nature of the industry it’s key for tradespeople to constantly develop these skills in order to continue delivering high quality work, so it’s encouraging to see so many workers looking to have more training in the future.”

“There will always be a demand for tradespeople within our society, whether we need a plumber to fix a leak, or a builder to work on an extension, so the opportunities for apprenticeships and recruitment that have been suggested by the tradespeople surveyed are very encouraging.”

To find out more about the costs of being a tradesperson and opportunities in the industry, visit Howe Tools.