What Are Your Biggest Concerns When It Comes to Your Business?

It takes blood, sweat and tears to build a trades business from the ground up. It’s not always easy to make money with your bare hands while keeping your customers satisfied and staying ahead of the industry curve. 

Naturally, you’re going to fret about your business, even when everything’s going well. To get a better idea of the biggest threats to tradespeople in 2024, Rhino asked 512 tradespeople what their key concerns were about their businesses. Let’s find out what they said.

#1 Not enough work

Among the tradespeople we spoke to, 142 (27.73%) said that not getting enough work was the chief concern. This makes sense – without the phone ringing and the inbox dinging, there’s no cash rolling in.

However, it’s a bit more complicated than just looking at supply-and-demand. We’ve all been told many times that there’s a skill shortage in the UK post Brexit. For example, the UK construction industry lost a quarter of its EU-born workforce during 2020 (Construction News), with other factors including Covid-19 no doubt at play.

So, if the public are vying for skilled tradespeople, then why are tradespeople still worried about getting work?

Well, the cost-of-living crisis for one. When the economy inflated at record levels between 2021 – 2023, people were left seriously strapped for cash. This means a reduction in homeowners willing to spend on maintenance, as well as a reduction in housebuilding projects by major developers.

Some trades are seasonal, which adds further pressure. For example, roofers and housepainters struggle to book work in the winter. And although there is a skill shortage in some areas and overall, there’s actually the opposite problem in some cities with too many tradespeople vying for the same jobs.

#2 Rising cost of expenses

Out of the 512 tradespeople we spoke to, 102 people (19.92%) cited rising expenses as a factor causing them sleepless nights.

The cost of expenses is an area where UK tradespeople have found themselves hit hard. Running a trades business has always been about more than just the cost of the materials. Things like petrol and diesel, energy bills, tools and equipment and even the cost of subcontractors has all skyrocketed. Insurance is also something a tradesperson needs to fork out for. Luckily, Rhino offers no-fuss, low-cost cover with cracking customer service, including Public Liability Insurance from just £5.21 per month, so at least you can take insurance off your list of worries.  

#3 Rising cost of materials

90 (17.58%) of tradespeople put the cost of materials as their number one concern.

Building and trade materials now cost more than ever, partly due to supply chain issues which have rocked the UK following wider global conflicts, not to mention the hangover from Brexit. Industry experts Checkatrade say that materials such as timber, cement, insulation, and roof tiles have all soared in price since 2020. This is obviously a big issue, as these basic materials are the tradesperson’s bread and butter. Timber alone is still more expensive than it was before the pandemic, and steel and other metals have risen by around 40% since then.

This, coupled with the fact that most tradies know that hiking their prices during a recession isn’t going to be a popular decision among their customers, has caused a big squeeze.

#4 Being undercut by other businesses

What do you get when there’s a lot of tradespeople competing for the same jobs, and customers who are desperate to save a few pennies wherever they can? That’s right, you get a race to the bottom when it comes to offering low-price quotes.

79 people (15.43%) out of the 512 tradespeople we spoke to were most concerned about under-skilled tradespeople prepared to do jobs for less, leading to cash-strapped customers being forced to go with the cheapest option. Obviously, this can spell disaster down the line – and we’ve all seen some of the absolute states left behind by cash-in-hand cowboys.

So, until all customers learn the phrase, ‘you pay peanuts, you get monkeys’, skilled tradesmen and women can be at a disadvantage in a cut-throat market.

#5 Tool theft

With tool theft already a huge problem in the UK, it’s set to get even worse without drastic government intervention. No wonder 66 people (12.89%) out of the 512 we asked put tool theft as their biggest business concern in 2025.

The re-sale market for stolen tools has been allowed to run absolutely rampant, with tradespeople feeling unsupported and powerless as their hard-earned tools are flogged on local websites and car boot sales by brazen thieves.

There may be good news on the horizon with a little something called The Theft of Tools of Trade (Sentencing) Bill. Led by Amanda Martin MP and industry changemakers Checkatrade and On The Tools (and with support from Rhino) this bill was read in Parliament in March 2025 (our CEO Troy was there!) and may see harsher punishments for those who steal tools from hardworking tradespeople. Stay tuned for more updates from us on this, and in the meantime, make sure you have your Tools Insurance policy with Rhino to protect your tools of trade.

#6 Other

33 people (6.45%) had other concerns when it came to their trades businesses. At a guess, we’d say that getting injured on the job was probably on the list. The prospect of taking time off work to recover from a broken wrist, for example, is enough to get any tradesperson sweating.

Another concern which we bet was among them was being accused of causing harm to a customer or their property while on the job. You might know how this one goes. First, everything is going well, then suddenly the customer accuses you of getting industrial glue on their new carpet and is ready to go after you for damages.

Luckily, that’s why insurance exists. Rhino’s market-leading coverage, including Personal Accident cover, Income Protection Insurance and our much-loved Public Liability Insurance will protect you from some of these issues, and contribute to your peace of mind during this challenging time for the UK’s trades businesses.