Stay tuned to the NWM blog for our latest company news, in-depth industry commentary and insights as well as useful guides on finance and compliance for contractors.
Reports in February suggest that Britain has been hit by the worst skills shortage in 30 years resulting in increased earnings for skilled people willing to put the work in – with the potential to earn up to £100,000 early in their careers. Reports of incomes of £2000 a week for young plumbers or £1000 for bricklayers are impressive – especially when they consider their peers who are choosing to go to university are ending up with huge debts in the process.
Attributed to a decline in the availability of apprenticeships over recent years, there has been a lack of entrants in to the market with the right level of skills. This has been a problem festering for 30 years according to Steve Murphy of The Union of Construction, Allied Trades and Technology 'Skills shortages are a direct result of the industry failing to invest in the future. The entire mind-set of the construction industry is focused on maximising short-term profits.'
Another issue has been the personnel movement away for the sector during the recession. Those that found themselves out of employment have retrained and entered new professions, meaning that now the contracts are available again the workforce to do it is greatly reduced.
Part of the long term issue has been the way businesses have avoided bringing construction employees on to the books, preferring to maintain a contract agreement, therefore intimidating people and stopping them from entering the profession. However, this increased risk can bring big gains for those willing to take the plunge and work for themselves and contractors or sub-contractors.
All this means the time has never been better for skilled people in the industry to take the opportunities to develop a portfolio with new contracts – maybe nationwide. As the government are lobbied to encourage young people in to the industry, and with companies recruiting from foreign shores to meet the shortfall in projects, the call to set your stall out now, gaining your reputation and building your portfolio has never been more compelling.
For help with looking after your livelihood and managing the payment side of your contracts, NWM solutions are perfectly placed, with years of industry knowledge.
