Home Business News UK’s tradespeople suffer £12,000 annual earnings drop

UK’s tradespeople suffer £12,000 annual earnings drop

by LLB Finance Reporter
11th Apr 24 6:54 am

Tradespeople in the UK were an average of £12k per year worse off in 2023 than the previous year.

In 2023, average earnings were £68,474 – down 17% from £82,821 in 2022, leaving tradespeople over £1000 per month worse off This is according to new research from leading small business insurance provider, Simply Business.

Grays in Essex has been revealed as the top town for tradespeople average turnover in the UK. This is closely followed by Fareham in Hampshire, St Albans in Hertfordshire and Oxford in Oxfordshire.

Meanwhile, drylining has been unveiled as the fastest growing trade in 2023, with the average annual turnover increasing by 12% between 2022 and 2023.

Yet it is builders who top the list for the highest earning trade in the UK, with an average turnover of £114,353 in 2023. After builders, the top earning trades in terms of turnover earned in 2023 were dryliners, groundworkers, glaziers, and flooring contractors.

Overall, 2022 data revealed large jumps in average annual turnover but this is not the case for 2023. Of the top 20 earning trades, only eight saw an increase in average turnover between 2022 and 2023. Bricklayers saw the biggest fall in average turnover, down 17% from £80,933 in 2022 to £67,465 in 2023.

The top earning locations for tradespeople by average turnover in 2023: 

  1. Grays – £115,445
  2. Fareham – £113,846
  3. St Albans – £112,631
  4. Oxford – £109,681
  5. Romford – £105,868
  6. Dagenham – £105,862
  7. London – £101,532
  8. Harrow – £101,532
  9. Luton – £101,331
  10. Dartford – £100,602

The top towns where tradespeople were feeling the pinch in 2023 were Worcester in the West Midlands, followed by St Helens in North West England and Eastbourne in the South East.

Top earning trades by average turnover in 2023:

  1. Builder – £114,353
  2. Dryliner – £105,832
  3. Groundworker – £105,434
  4. Glazier – £99,766
  5. Flooring contractor – £92, 386
  6. Plumber – £84,090
  7. Roofer – £81,517
  8. Joiner – £76,039
  9. Electrician – £75,883
  10. Bathroom, bedroom, kitchen fitter – £71,562
  11. Landscape gardener – £68,545
  12. Bricklayer – £67,465
  13. Gas fitter – £66,206
  14. Carpenter – £63,218
  15. Tiler (floor and wall) – £63,182

It’s important to remember that turnover doesn’t equal profit. Tradespeople all over the country have suffered supply chain problems in recent years, as well as higher material costs which impact on their businesses.

Bea Montoya, UK COO at Simply Business, said, “Small business owners are the backbone of the UK economy, and few embody this more than the nation’s tradespeople.

They’re quite simply vital for our local communities, and together with other small businesses across the UK, collectively contribute trillions of pounds to the economy.

“Naturally, the impact on consumer purchasing behaviour is trickling through to the books of tradespeople at a time when small businesses need our support the most. Given that the average turnover for tradespeople has dropped by 17% over the past year, we encourage consumers to continue turning to their local tradespeople when in need of work.”

Leave a Comment

You may also like


Sign up to our daily news alerts

[ms-form id=1]