fbpx

Tradie Confidence Index

The results from the latest Tradie Confidence Index (TCI) show that tradies are feeling more confident across the board.

The latest results cover the final quarter of 2017, being October to December.

In four of the five questions asked of self-employed tradespeople, the percentage of positive responses increased compared to the previous quarter.

You can view the raw data on the TCI website, but as founding partners of the index, we have put together our own analysis.

Confidence Is Up

The total positive responses in the most recent survey were 72%, up from 67% in the previous quarter.

NSW once again had the highest percentage of confident tradies, but the gap narrowed significantly.

Last quarter NSW tradies were far more confident than the rest of the state (77% versus the national average of 67%) whilst this quarter it was 76% verses 72%.

That would indicate business confidence amongst NSW tradies has dropped very slightly, whilst the rest of Australia has enjoyed a strong lift.

We’ll delve into the individual questions now…

Q1. Would you say you have more work or less work on now compared with the same time last year?

77% of tradies told us they had more work on now compared with the same quarter in 2016.

This was up from 73% in the previous quarter.

NSW suffered a slight dip, dropping from 88% to 86%.  This still keeps them well above the national average.

Q2. This time next year, would you expect to have more work or less work on than you do now?

As with last quarter, most self-employed tradespeople are feeling more confident about their business for this time next year.

85% of respondents told us they are expecting to have more work in the final quarter of 2018 compared with 2017.

This result was up strongly from 76% in the previous quarter.

Once again, NSW tradies had a level of confidence (95%) that was well above the national average.

Q3. Do you think over the next 12 months tradies overall will be experiencing good times or bad times?

Looking at the trades overall, there seems to be a lot more confidence in how 2018 is looking.

76% of tradies felt that the industry would be enjoying good times over the coming 12 months.  This compares to just 67% of respondents in the previous quarter.

NSW and Victorian tradies were considerably more confident in this area compared with the other states.

Q4. Thinking about the overall Australian economy, are you expecting good times or bad times over the next five years?

Tradies are far less confident about the overall Australian economy, and less confident than they were in the previous quarter.

Last quarter 56% of tradies were expecting good times, but this has dropped to just 50%.

This was the only question in the survey where confidence had dropped from last quarter.

Queensland tradies were the most confident about the Aussie economy, with 60% expecting good times.

Q5. Do you think the next 12 months will be a good time or a bad time to invest in your business?  Be it equipment, staff or otherwise.

Despite there being little faith in the overall economy, most tradespeople still thought it was a good time to invest in their business.

69% of respondents felt it was wise to invest over the coming 12 months, which is a slight increase on the 66% positive response from last quarter.

Tradies in Queensland were again most confident in this area, with 80% believing it was good time to invest in their business.

Conclusions

This is only the second quarter that the TCI has been run, so we can’t yet look at the trends in a meaningful way.

On the face of it though, it certainly appears that business confidence amongst tradies has increased compared with the previous quarter.

The only thing that tradies aren’t so confident about is the overall Australian economy, which probably reflects the feeling in most businesses Australia-wide.

Survey responses are now being collected for the current quarter, which run from January to March 2018.

To participate in the survey please click here.

For any media enquiries please contact us.


Tradie Confidence Index Cover

Tradies Love Trade Risk

In 2020 Trade Risk was awarded the Platinum Trusted Service Award for the amazing service we offer to thousands of tradies from around Australia.

  • testimonial background
    "good follow up service"
    Classic Contracting Pty Ltd | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Took weeks to get back to me. My insurance lapsed and as a result I was unlicensed for 4 days."
    Mikael Erik Amberntsson | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Jennifer from Trade Risk is always happy to help and very prompt in replying to queries and concerns. Trade Risk takes the hassle out of insurance and makes sure the cover I need is the cover I get."
    Luke | Trade Insurance - Renewal | Snowy Monaro NSW
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Excellent service. Keshia was very helpful and easy to deal with. I would continue dealing with Trade Risk again"
    Jawo Wollaston | Trade Insurance - Renewal | Pioneer
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Happy with the competitive price. Was an increase from last year but that's common."
    Samford Valley Plumbing Service Pty Ltd | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "No comment"
    Reynolds Family Trust | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Would recommend them. Great service and prompt follow up to enquiries."
    Riddells Creek Roofing Pty Ltd | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "When insurance comes up in conversation I always tell about who I am with and why."
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Timely and easy to organise."
    Anthony Walford Thyer | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "It took nearly a month to have our renewal finalised. Our broker never responded to our emails or our phone calls, and there was no communication in regard to a required amendment to our renewal proposal. This resulted in a premium much higher than what we were originally paying. Considering the lack of communication and that it took a week for anyone to even action our request, and that our renewal was not finalised 2 days out from its due date, I sincerely doubt that our broker bothered or attempted to negotiate with the insurer or find us the best deal."
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Great service friendly easy renewal of my policy"
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "This was a renewal for us and they helped us not only with reminders, but they send a questionnaire about our current policy needs and came up with a policy that suited our changing business."
    Airlie Aluminium Marine Pty Ltd | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Quick and efficient Attended my query and needs immediately"
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Great customer service agent"
    C.M Friend & P.J Friend | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "We have been using Trade Risk for years. They make it easy and it is good value."
    P & J Building & Home Maintenance Services Pty Ltd | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Very easy to deal with 👍🏿"
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "They provided prompt information and quotes and I found them very easy to deal with."
    | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
  • testimonial background
    "Service was good, but not the premium"
    David Mathew Zemunik | Trade Insurance - Renewal |
    star fullstar fullstar fullstar fullstar full
Loading...