Tradespeople owed on average over £2,000, AI-boom drives demand for plumbers and electricians in America and heritage trades join Installer Show
Over two thirds of tradespeople are currently chasing late payments — that’s according to research from Direct Line Business Insurance.
The report also claimed that tradespeople were owed an average of just over £2,000.
Of those surveyed, nearly a quarter were struggling to recover four or more late payents, and 7% said they were chasing six or more outstanding invoices.
In order to protect themselves, 46% of tradies are now requesting ‘proof of funds’ before starting larger jobs.
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The AI-boom is driving unprecedented demand for plumbers, electricians and HVAC engineers in America.
A study from McKinsey estimates that between now and the end of the decade another 130,000 electricians, 240,000 construction labourers and 150,000 project managers are needed to build data centres.
The US’ skills shortage has been made more acute because its highly skilled ‘baby boomer’ generation of tradespeople are now retiring in large numbers.
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Heritage trades will be showcased at Installer Show for the first time later this year.
The dedicated area of the show will host live demonstrations of traditional trades and workshops covering conservation techniques and training pathways.
Some of the hosts at the show include Brad O’leary, an expert in property renovation, stonemason Rachel Wragg and James Robinson, the Yorkshire Stone Dresser.
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