It can be easy to get depressed when watching the news and believe we are truly at the end of the world, but fear not – there is still hope for tradesmen and women. Firstly, lets not forget there have been pandemics before, such as Spanish flu, as well as large recessions, and the good times came back.
There are many factors which will help to keep demand for skilled trades.
- The existing housing shortage is going nowhere. The population is growing and the shortage is getting increasingly bigger, therefore regardless of the economic impact – the need for housing will help drive demand for skilled trades.
- There is still a skills shortage. There are still not enough skilled workers to meet demand across all sectors.
- Repair and maintenance typically fair better in a recession than new developments, as people opt for the cheaper option of renovating/improving existing properties. So even if new builds slow, hopefully the impact can be reduced for trades undertaking domestic work. For many of our clients this is where a large portion of their work comes from.
There’s no denying that times will be harder. Competition for work and reduced disposable income may lead to pressure on labour rates and less profits. However, it is those that prepare now that will fare the best going forward. Use the time when your competitors are slowing down to focus on how you can improve (or even start) your business.
How can we help?
New businesses: Website design, professional business email, cloud storage, systems set up and more.
Existing businesses: We can automate all of your processes. Examples include automatically creating invoices for your clients and streamlining your project management. We save our clients hundreds of hours in admin time.
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