THE FUTURE IS POSITIVE, SAY ELECTRICAL CONTRACTORS
While the economic growth of the UK has slowed since the first quarter of 2015, electrical contractors are still confident in the future stability of their business and the industry, accordingly to new research.
A recent survey commissioned by leading electrical wholesaler, Newey & Eyre found that 81 per cent of contractors have seen an increase in business over recent months. In fact, half of the respondents indicated that they can’t keep up with the flow of new work they have in pipelines, and have regularly had to work evenings and weekends.
Crucially, the poll paints an overall positive picture, with almost half of contractors (47%) seeing the commercial sector as their most active market. A further two fifths (37%) have seen a notable rise in opportunities from the construction sector and major contracts.
However, despite the positive attitude towards the future economic outlook, just over half of respondents (53%) indicated that they didn’t feel that they were in any better position than they were five years ago, partially due to the rising cost of living and inflation.
When asked what they felt the biggest challenges were for contractors in the coming year, two fifths (42%) indicated that continued impact of rogue traders is still a large concern, whilst a quarter (25%) felt there is still a skills gap in the industry. Half of respondents (50%) indicated that they felt they were faced by too much legislation, but the majority of which a still agreed with why the reforms were needed.
Luke Biddle, Marketing Manager at Newey & Eyre, comments: “It’s great to see such a positive outlook from contractors, especially at a time where we are seeing further Government budget cuts and legislative reforms, such as the recent Amendment 3 update to the IET Wiring Regulations.
He adds: “Electrical installers and contractors are hardworking individuals that are always looking for ways to increase business and add value to the service they provide to customers. But the reality is, free time is very limited in this industry, and the results from this poll also indicate that due to busy schedules, some are struggling to stay abreast of the latest legislative changes. It’s important for installers to take the time to understand the legislation and crucially, why they have been implemented, to ensure a smooth transition for all.”