Report details trade business safety costs
A new report titled “The True Cost of Owning Your Own Trade Business” reveals that the average cost of setting up a trade business is £33,000, and part of this setup cost is essential safety gear.
Many tradespeople have lost their jobs during the coronavirus pandemic and are looking at becoming self-employed and setting up their own business. This new report was undertaken to make such people aware of the necessary costs. It is vital to invest in high-quality safety equipment and PPE (personal protective equipment), and the report gives examples of the costs of various safety equipment. For example, a plumber will require a work jacket, which costs around £50, and a pressure tester, priced at around £200.
Essential safety equipment for electricians costs around £1,400, including boots, safety glasses and insulated gloves. It has been stressed that business owners should not try to save money by purchasing poor-quality safety gear. All tradespeople also need insurance that covers them in case their employees or members of the public are injured at the workplace. This can cost several hundred pounds, depending on the type of business.
An S.N.L. Home Repairs spokesperson told the researchers: “Building a business takes time, and is not an overnight thing. Don’t expect to go out with a full worksheet in the beginning of starting your business.”
The authors of the report stated that they do not want to deter tradespeople from starting their own business, but they want to spread awareness of the true costs involved.