TOOL THEFT VICTIMS FILL WEMBLEY STADIUM EIGHT TIMES OVER

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  Posted by: electime      8th December 2022

  • Four in five (78 per cent) tradespeople in the UK have been targeted by tool thieves, with over 630,800 affected
  • Number of victims of tool theft could fill Wembley Stadium eight times over
  • Tools stolen across the country amount to an eye-watering £2.8bn, with over half (57 per cent) having their tools stolen more than once
  • Over half who reported tool theft to the police were “very unsatisfied” with the outcome
  • Simply Business are offering 10 x £2,000 van security overhauls to help protect tradespeople

Over 630,800 tradespeople in the UK have had their tools stolen – enough to fill Wembley Stadium eight times over.

Incredibly, four in five tradespeople in the UK (78 per cent) have fallen victim to tool theft, according to a study by small business insurer Simply Business and online construction community On The Tools.

The study of over 4,000 tradespeople found that tool theft costs an average of £4,470 in equipment per person, with one in six losing over £5,000 worth of tools.

The study also found that over half (64 per cent) of those who reported tool theft to the police were “very unsatisfied” with the handling of their cases, with only 6 per cent describing the experience as satisfactory. As a result, almost a quarter of tradespeople said they did not bother reporting the crime.

The Tradespeople Against Tool Theft white paper, from the UK’s largest online construction community On The Tools and one of the UK’s largest providers of small business insurance Simply Business, was created to highlight the harsh realities of UK tradespeople who have experienced tool theft.

Alan Thomas, UK CEO at Simply Business, said: “We’ve seen the profound impact of tool theft first-hand, costing tradespeople £4,470 on average. Those on the receiving end are often forced to take time off work, and the financial hit and longer term repercussions on future business.

“Tradespeople, like so many other business owners across the country, continue to battle rising costs, surging energy prices, and material shortages, all while continuing their recovery from the impact of the pandemic.

“That’s why we’ve re-launched our campaign to Stamp Out Tool Theft. We hope that by shining a light on the scale and depth of the problem, revealing the true stories of those affected, and offering practical support for the community, we can contribute positively to change.”

Lee Wilcox, CEO of On The Tools, added: “Tool theft is crippling our industry. It’s an issue that impacts an immense proportion of UK tradespeople and can no longer be ignored.

“The Tradespeople Against Tool Theft white paper was created to reveal the widespread consequences of this crime, from the financial impacts to the emotional consequences and more.

“I am hopeful that by distributing this white paper to all corners of the construction industry and beyond, we can encourage the issue to be taken as seriously as it should be, improving the situation for UK tradespeople once and for all. I would also like to thank the industry sponsors and supporters of this research for your invaluable contributions.”

Learn more about the Stamp Out Tool Theft campaign here: http://www.simplybusiness.co.uk/stamp-out-tool-theft/

Simply Business are giving away 10x van security overhauls worth up to £2,000 – find out more here