Business Confidence Bouncing Back from The Pandemic Low

UK trade businesses are increasingly confident in their ability to grow and power the economic recovery. New industry insights have revealed that business confidence among the UK tradespeople has more than quadrupled in the last 12 months.

The pandemic caused a drop in work for tradespeople across the UK this past year due to coronavirus but with things starting to ease out, it is great to see the work picking up and future work for tradespeople being booked. The industry took a huge hit, but with business’s coming out stronger studies have shown how work has increased over the year and yet to come. Read below to see figures compared over the past year:

The Screwfix business confidence index is part of a monthly Trade plus survey, which surveyed 455 UK tradespeople and includes a range of different measure. All these measures rose in December 2021 compared to the figures in December 2020. The overall confidence score has seen a dramatic increase from +8 in December 2020 to +35 in December 2021 which has continued to stay steady since June 2021.

Furthermore, December 2021 insights show the tradespeople reported a 38% increase in business activity in the last 12 months compared to a -8% decrease in December 2020 and a 21% increase in June 2021. With high optimism in the months ahead, it is expected that business will continue to increase with a 41% ramp up over the next 12 months.

From June 2021 there was a slight decrease with the raise of the Omicron variant which battled the UK which could’ve been a factor to this. Luckily, this only lasted a few months before work picked up again, continuing to rise through out the rest of the year. Creating a positive outlook for 2022.

The CEO of Screwfix, John Mewett commented “It is really encouraging to see the UK tradespeople are feeling confident about the future of their business. Despite all the challenges the last couple of years have give us, index now shows that not only are tradespeople busy but are lining-up future projects for the years ahead. We look forward to seeing what 2022 brings for our Tradespeople”.

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