As many sectors are looking to reopen or have begun to, many sectors are reeling from a hugely disruptive period in their history. Earlier this month, the OECD forecasted that UK GDP could fall by 11.5%, worse than France, Spain, Italy and Germany.
Despite these figures, some trades have reason to be optimistic post-lockdown. A new survey from finder.com found that 86% of Brits plan to maintain or increase their spending on plumbing, building (internal and external), gardening and painting and decorating work compared to pre-lockdown levels.
The survey also asked if they planned to make any major purchases for themselves and their family in the rest of 2020. It revealed a fifth of Brits (20%) plan to do some garden renovations (including new patio or decking), while 18% say they will do internal renovations such as fitting new bathrooms or kitchens. External renovations, such as window fittings and roofs, are on the cards for 13% of people.
In terms of those who will reduce their spend, only 5% of Brits plan to do this with tradespeople. Across the whole study, 66% of consumers plan to spend less next year, showing how tradespeople are set to be much less affected than some other businesses.
Benjamin Dyer, CEO of Powered Now, a billing and accounting software platform for sole traders and small trade businesses, has commented on the results of the survey and what tradespeople can do to return to work more efficiently.
"The results of this survey should give optimism to people in the trade. Large economic disruption can have a serious effect on small businesses and sole traders so understanding consumers are behind them should give them confidence in returning to work.”
“With disruption surrounding new health and safety regulations and PPE, many parts of the job may be more time consuming than ever before, so it pays to be as efficient as you can on site. Virtual job inspections and online quotes and accounts are a significant time-saver and should be explored as the trade heads back to people's homes or on-site.”
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