fbpx

Tradie Confidence Index

We are pleased to present the results from the very first Tradie Confidence Index (TCI) survey.

You can find the raw data on the Tradie Index website, and as founding supporters of the index, we have put together our own analysis which you can read below.

The survey seeks to measure the level of business confidence amongst self-employed tradies working in the building industry in Australia.

Whilst there are already indices which track overall business confidence, as well as building approvals and building starts, there remains a gap.

Many tradies don’t necessarily work on new builds.  They are undertaking maintenance work, installations and renovations.

The survey seeks to gauge how self-employed tradies are feeling overall.  Not just those who work on new builds.

NSW tradies are confident

The survey clearly showed that tradies working in NSW are the most upbeat when it comes to their current position, as well as looking forward over the coming 12 months.

They also felt the most positive about the overall outlook for tradies and the broader economy over the coming 12 months.

Victorian tradies seemed quite positive about how they were travelling right now, but not so confident when looking ahead.

The full results are detailed below.

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

Overall we found that most tradies are enjoying more work right now that they were at the same time last year.

Nationally, 73% of tradies felt they had more work, leaving 27% who felt they had less work.

In NSW this feeling was the strongest, with an overwhelming 88% of tradies responding positively.  This leaves only 12% who thought they had less work now compared with last year.

This has to be considered a very strong result for NSW.

Queensland had the lowest score of the eastern states, with just 64% responding positively.

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

Tradies appear to be even more positive about the level of work they’ll have this time next year.

Whilst 73% of tradies felt they had more work now compared with same time last year, this increases to 76% when thinking about how much work they’ll have this time next year.

NSW was again the most positive state, with 80% of respondents expecting more work next year.

Queensland tradies again had the lowest rating, with 72% expecting more work at this time next year.  This is still a positive result, and shows they are more positive about next year than this year.

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

Despite most tradies expecting to have more work over the next twelve months, they don’t appear to be so confident about the outlook for tradies in general.

Only 67% of respondents were expecting good times for tradies overall.  That a leaves a third of all tradies expecting bad times over the next 12 months.

NSW was relatively strong with 76% having a positive outlook.

Respondents from outside NSW, Victoria and Queensland were most negative their outlook, with just 56% responding positively.

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

Tradies don’t appear to have a lot of confidence in the overall economy over the next twelve months, with only just over half expecting good times.

Only 56% of respondents nationally were expecting good times in the overall economy over the next twelve months.

Victorian tradies were the most negative, with just 48% expecting good times and more than half expecting bad times.

This was the only question that resulted in more than half of a single state giving a negative answer.

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.

Confidence plays a huge part in investment decisions for any business, and right now it appears tradies aren’t feeling it.

Only 66% of tradies felt that it would be wise to invest in their business over the next twelve months.

NSW and Queensland respondents had the most positive outlook, with 72% in both states believing it would be a good time to invest.

Victoria had the lowest score, with just 56% of tradies keen to invest over the coming year.

Conclusions

As with any index of this type, the real benefit comes from seeing the trend in responses over time, rather than looking at one period in isolation.

Despite that, there is plenty we can take away from these results.

Firstly, it is quite clear that NSW has the most positive tradies in Australia in terms of how they’re feeling right now, and what they’re expecting next year.

Victorian tradies appear to be fairly happy with the amount of work they have now and over the coming year, but don’t seem so confident overall looking ahead.

Overall every question had a positive result, and when we break it down into the states we only have one negative, which was how Victorian tradies felt about the overall economy over the coming twelve months.

Attention now shifts to collecting survey responses from the next quarter, which runs from October to December 2017.

To participate in the current survey please click here.

About the Tradie Confidence Index

The survey results below cover the quarter from July to September 2017, and are based around the following five questions:

  1. Would you say you have more work or less work on now compared with the same time last year?
  2. This time next year, would you expect to have more work or less work on than you do now?
  3. Do you think over the next 12 months tradies overall will be experiencing good times or bad times?
  4. Thinking about the overall Australian economy, are you expecting good times or bad times over the next five years?
  5. 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.

There were just under 100 responses for the quarter, which isn’t a huge number, but we do expect it to increase each quarter as the index becomes more widely known.

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...