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When good tradies lose everything
Just this week, I saw more posts from tradies shutting their doors for good. Businesses closing, homes being sold, marriages breaking down.
It hits hard every single time.
Because it doesn’t have to be this way. Not when help, support, and information are easier to find than ever before.
So why are so many good tradies still going broke?
Let’s talk about it.
Watch: Why Tradie Businesses Are Going Broke
(In this short video, I share what’s really happening inside the tradie world — and what you can do right now to protect your business.)
The warning signs are everywhere
Every tradie knows someone who’s struggling. Maybe that someone is even you.
Jobs are coming in, you’re working hard, yet the money still doesn’t seem to stick. Bills pile up, the ATO sends reminders, and the stress starts creeping home.
It’s not because you’re lazy or bad at your trade. It’s often because the numbers side of the business gets pushed aside — until it’s too late.
Knowing your numbers could save your business
Here’s the hard truth.
If your only “financial system” is dropping receipts off to your accountant each quarter, you’re flying blind.
To run a strong business, you need to understand the basics:
- What your team’s productivity looks like
- How much you spend on wages
- What your profit margins really are
- Whether each job is actually making you money
Without that knowledge, every quote, every purchase, every hire is a gamble.
If you’ve ever felt stuck trying to make a budget work, check out our post on Why Budgeting Keeps Tradie Businesses Stuck (and What to Do Instead) for a fresh perspective. It shows why traditional budgeting doesn’t always work for tradies — and what you can do differently.
Pride won’t pay the bills
Too many tradies wait until they’re desperate before asking for help. Maybe you feel embarrassed. Maybe you tell yourself you can figure it out alone.
But here’s the thing: no one expects you to know it all.
Even the best tradies need a hand sometimes. Whether it’s joining a support group, joining a coaching program, or simply sitting down with someone who understands business — it’s the smartest move you can make.
Taking a step back to plan for a couple of days could save you years of stress.
Stop before it’s too late
Right now, some tradies are only months away from bankruptcy — and they don’t even know it.
Banks are still lending money. Equipment finance is still easy to get. But just because the bank says “yes,” doesn’t mean your business can actually afford it.
Before buying that new machine or hiring that extra person, ask yourself:
- Have I squeezed the most out of what I already have?
- Are my current jobs running profitably?
- Can I cover this comfortably, even in a slow month?
If not, it’s time to pause and rework the plan.
💡 Listen to our podcast episode Dollars & Sense — Why Knowing Your Numbers Will Save Your Business
for more insights on how to take control of your business finances and stop running blind.
Change starts with responsibility
It’s easy to blame the economy, interest rates, or the ATO. But at the end of the day, our business is our responsibility.
Every decision — to spend, to grow, to hire — sits with us. When we start owning that, everything changes.
We’ve been where you are.
We’ve made the hard calls, cut costs, scaled back, rebuilt.
It’s not easy, but it’s possible — and it’s worth it.
You don’t have to do this alone
We see tradies turning things around all the time.
It starts with one choice: to stop spinning your wheels and reach out for help.
We’ll look at your numbers with you, no judgment, no shame.
If we think we can help, we’ll tell you how.
If not, we’ll point you in the right direction.
The goal is simple — to help you protect your business, your family, and your future.
If something in this hits home, don’t sit on it.
Don’t wait until the wheels come off.
Reach out. Start the conversation.
Because it truly doesn’t have to be this way.
Your business can thrive, your home can be stable, and your future can look bright again — if you take that first step today.
