Words: Damian Walters.

It’s fair to say that 2024 has been a turbulent year and the market in general is fragile, with mixed messages from the different sectors and businesses we engage.

The ongoing political instability both before and in the run up to the general election led to a continued lack of confidence in the economy, and there is no doubt that the aftershocks from the recent Autumn budget announcement will carry forward into the new year.

The budget has caused much concern amongst employers, and how they react will dictate how the KBB industry enters the 2025-2026 financial year. There will be difficult decisions being made and there is a real risk that changes in taxation and the contribution threshold will leave business leaders with no choice but to halt growth plans. 

Equally, it’s feared that the consumers most likely to be affected by budget are also those that would ordinarily invest in home improvements, which could create further strain on KBB manufacturers, distributors, retailers and installation businesses.

Despite the current political and economic turbulence, and no doubt the inevitable casualties, change is on the horizon and that is an incredibly exciting prospect for us all. 

Long-overdue change

Positively, history has shown that our sector is robust, and while the budget’s negativity towards business cannot be ignored, other areas of the announcement lean towards encouraging homeowners to improve rather than move, like the reduction in the Stamp Duty threshold.

Also, the new home targets will continue to stimulate the construction sector and keep housebuilders building. However we still face a growing labour shortage, and I believe that the industry has failed to grasp the enormity of that challenge.

Unless we can drastically improve in terms of our focus and investment on the skills shortage, our ability to meet the continued demand will be severely hampered.

For our part of the sector in particular, I am incredibly excited about plans for long-overdue change and the role that BiKBBI is playing in leading that charge.

Our recently announced Accredited Installation Methods initiative, coupled with the work we are doing in the Super Sector groups, will bring about an industry-wide improvement in installation services.

These strategically coupled schemes will make a significant difference in the standardisation of not only who delivers installation services on the front line, but also those businesses that are ultimately responsible for the delivery of those services.

There is all to play for in 2025, and we as an industry can be very much in charge of our own destiny. It is clear that the Government is listening to our sector and collaboratively we have an opportunity to shape the future.

But with opportunity also comes risk. Uncertainty almost inevitably creates nervousness from decision-makers, but true leadership is dependent on people making brave decisions and having the confidence to overcome short-term challenges while still  planning for the future. 

Taking stock

2025 will be less about taking advantage and more about taking stock. Now is a time to line up the ducks and to ensure that the vessel is watertight, but it’s equally important for retailers to ensure that they navigate beyond their current line of sight.

Installation will always be an important part of our industry and therefore, whilst it’s not at the glamorous end of retailing, it should not be overlooked at what is a critical juncture for all businesses.

I am proud to be leading an organisation that is not held back by layers of bureaucracy that can move at pace to overcome obstacles we encounter on behalf of our stakeholders. 

We are only able to do this with the growing support from the KBB industry, and I would like to take this opportunity to publicly thank those individuals, businesses and brands who give their support, collaboration and guidance.

Without this, BiKBBI would not be able to continue to drive positive change for the wider KBB industry.