Tools worth almost £3 billion have been stolen from UK tradespeople, with a four in five being victims of theft, according to a new report.
The Tradespeople Against Tool Theft white paper, from the UK’s largest online construction community On The Tools and one of the UK’s largest providers of small business insurance Simply Business, was created to highlight and explore the realities of UK tradespeople who have experienced tool theft.
The study found that tool theft costs tradespeople – mostly the self-employed – an average of £4,470 in equipment, with one in five having more than £5,000 worth of tools stolen. The study revealed that self-employed tradespeople are 38% more likely to be targeted than employed tradespeople, with equipment most likely to be stolen from their van parked outside of their home (39%). One in 10 (9%) have even experienced equipment being stolen from inside their home or garage.
Aside from the cost of replacing stolen tools, tool theft incurs additional costs in loss of earnings while equipment is being replaced. One in ten tradespeople (11%) had to take time off work or decline new work while they sourced new equipment. Over a tenth (13%) of respondents also had to pay to repair their vehicle, adding to the plethora of costs associated with the crime.
Tool theft is an experience more than a third of tradespeople have gone through twice, with some having their tools stolen five or more times, severely affecting financial income and mental wellbeing.
In April 2021 a motion for leave to bring in a Bill was presented in the House of Commons. The Bill proposed a requirement for persons selling second-hand tools online to show the serial numbers of those tools in searchable advertisement text, and for connected purposes. This Bill, as it stands, has not become law.
Consumer awareness around the crime is high, with 71% of consumers believing that the average tradesperson has had their tools stolen once or more during the past year. Yet according to the study almost a quarter of consumers bought second-hand and/or refurbished tools. Out of which 19% consumers purchased without making any checks.
Alan Thomas, UK CEO at Simply Business, said:“We’ve seen the profound impact of tool theft first-hand, costing tradespeople £4,470 on average. Those on the receiving end are often forced to take time off work, and the financial hit – and longer term repercussions on future business – can inevitably affect wellbeing.
“Tradespeople, like so many other business owners across the country, continue to battle rising costs, surging energy prices, and material shortages, all while continuing their recovery from the impact of the pandemic.
“At the very least, in the midst of a cost of living crisis, there needs to be wider recognition of the fact that tool theft is a problem for tradespeople of all types. Further than that, discussion should centre around how tool theft impacts everyone – when it happens, it affects the economy at large in terms of lost working days.
“At Simply Business, we’re proud to partner with On The Tools to produce this white paper and reignite our campaign to Stamp Out Tool Theft. We hope that by shining a light on the scale and depth of the problem, revealing the true stories of those affected, and offering practical support for the community, we can contribute positively to change.”
