One in two electrician businesses survive past three years
Posted: Wednesday, September 11th, 2024
Start-Up A-Z recently compiled a study of the trades with the best survival rates. It analysed Companies House data to find how many businesses established in 2021 are still in operation today. Plumbers have taken the top spot, with 58% of plumbing companies formed in 2021 still active. Considering the plumbing industry earns around £17.2 billion a year in the UK, it’s certainly a thriving industry. Other top trade businesses that started in 2021 include glazing installers, with 57% of companies still active today and carpenters, with 53% of firms still thriving. Meanwhile, 52% of electrician businesses formed in 2021 are still in business today, and landscapers are also top contenders, at 51%. The most successful skilled trade businesses Rank Trade % of businesses still active since set up in 2021 1 Plumber 58% 2 Glazing installer 57% 3 Carpenter 53% 4 Electrician 52% 5 Landscaper 51% The least successful skilled trade businesses are plasterers and painters & decorators. 61% of painter and decorator companies formed in 2021 and 49% of plasterer companies have since dissolved. Several factors likely affected these industries and caused their closure, from rising material costs due to inflation and supply chain issues to a reduced demand for these services. The most profitable trades are electricians, plumbers, painters, and decorators. Electricians earn an average of £400 daily, and plumbers secure £347. Other profitable trade occupations include plasterers, glaze installers, landscapers and carpenters - all professions that require significant hands-on experience, training and knowledge.
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