A recent survey has found that almost half of British adults have paid tradesmen cash in order to get a cheaper deal. This new data has come from a survey by Plentific following the recent Taylor Review. Take a look at what the review entails here.
The statics from the survey, however, showed that specifically, 46% of UK adults have paid cash in hand so they can get a cheaper price. Alongside this, it was also found that those aged 55 and over are more likely to pay a tradesman in cash. According to the results, 56% of those aged over 55 have paid a tradesman cash in hand in the last year compared to 33% of 18-34-year-olds.
This suggests that apparently, this difference could be due to changing times in which paying with cash is far less frequent. However, the results found that there were also differences in terms of location as well. According to the results, Liverpool was at the top of the table in which 54% of those surveyed had recently paid a tradesman cash in hand. In comparison to this, only 25% of respondents from London had in the past year.
But cash in hand is an important form of payment for tradesmen. Specifically, in order to compete with other tradesmen offering work cheaper if paid for in cash. Therefore, if other workers are offering cheaper prices for cash in hand, then tradesmen could possibly lose out on work to cheaper alternatives. This is key to consider as well as according to alternative research, cost/price is one of the main deciders for homeowners when hiring a tradesman. Take a look at the full report here.
Some workers prefer being paid via payment platforms though. One engineer uses Plentific as a way of finding work and gets his payments online. He described: “being paid cash in hand is a hassle.”
“I like being able to use a safe and secure payment method that takes the worry out of the job. It leaves me time to focus on the important things such as the job at hand.”
A spokesperson for Plentific added: “tradesmen are often painted in a bad light by the media when it comes to things like cash in hand payments.”
“Our statistics show that actually, it can be the customers who are driving this option to save a few pounds.”
“Plentific allows homeowners to find and pay tradesmen securely online.”
“Paying in cash is costing the government an enormous amount of money and people are putting themselves at unnecessary risk.”
“Ultimately, those who seek a cheaper deal by paying in cash in hand are doing the government and economy a great deal of harm.”
So what do you think of this? Let us know in the comments below.