Rising business costs, persistent tool theft and mounting financial pressure are among the biggest concerns facing UK tradespeople in 2026, according to the latest annual customer survey published by Rhino Trade Insurance.
The survey, completed by 1,194 UK tradespeople, provides a detailed snapshot of the realities facing those working across construction and the skilled trades today.
Key Issues Affecting Trades Businesses
Rising Costs Lead Industry Worries
The most commonly cited concern, selected by 21.11% of respondents, was the ongoing increase in costs – from materials and fuel to insurance and everyday overheads. With customers becoming increasingly price-sensitive, many tradespeople report feeling squeezed between higher expenses and competitive quoting.
Tool Theft Remains a Major Threat
Tool theft continues to have a significant impact across the industry:
- Over 82.5% are worried about tool theft
- 80.82% know someone who has been affected
- More than 27% have personally experienced tool theft
The findings highlight how tool theft remains a persistent and financially damaging issue for tradespeople nationwide.
Mental Health and Work–Life Balance
Mental health, stress and work–life balance ranked ahead of concerns such as regulation and availability of work. The results suggest that while demand may still exist, the strain of running a small business, managing risk and absorbing financial pressure is taking a toll.
Most Tradespeople Couldn’t Afford Long Off the Tools
Nearly three-quarters (72.95%) of respondents said they could afford to stop working for three months or less if injured or ill.
Notably, 28.31% said they could manage less than one month without working.
These figures underline the vulnerability of self-employed tradespeople, many of whom do not have access to sick pay or long-term income support.
Insurance as Business Protection
The survey also highlights the value tradespeople place on insurance as part of running a secure and professional business. (This was a multiple-choice question, so percentages reflect the proportion of respondents who selected each option and do not total 100%.)
- 77.89% hold insurance for peace of mind if something goes wrong
- 37.44% say it provides reassurance to customers
- 30.07% require it for contracts or site work
- 20.35% believe it helps them win work
The findings show that insurance is seen as more than a box-ticking exercise. For many tradespeople, it’s a practical safeguard that protects their income, strengthens credibility with customers, and supports long-term business continuity.
A word from our CEO
Troy Stevens, CEO of Rhino Trade Insurance, said:
“This year’s survey reinforces just how resilient and hard-working the UK trades community is, but it also highlights the real pressures they’re under. Rising costs and tool theft are ongoing challenges, but what stands out most is how financially exposed many tradespeople remain if they’re unable to work.
At Rhino, we believe it’s crucial to listen to the industry. These findings help us understand what matters most to tradespeople so we can continue providing straightforward, affordable cover that genuinely supports them and their businesses.”
About the Survey
The Rhino 2026 Customer Survey was conducted in January 2026 and received responses from 1,194 UK tradespeople. Most questions were mandatory and single choice. Where multiple-choice questions were used, percentages may not total 100%.
Press and media are welcome to use this data for reporting purposes with attribution to Rhino Trade Insurance.
