With issues such as cash flow, VAT, businesses rates and staffing all placing continued strain on the UK drinks industry, businesses have just a few days left to decide which parties’ pledges have the best hope of steering the sector towards prosperity.
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Hospitality can deliver for Britain by growing 6% a year and creating 500,000 new jobs with the right investment, according to economic analysis from UKHospitality and Ignite Economics.
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The UK spirits market, to many global producers, is one they want to be part of. It’s not the biggest by any means, nor is it the most fruitful – but there is an air of prestige about it. And yet many independent producers trying to break into the UK market, will struggle or worse, fail miserably. It’s a tough nut to crack but by understanding the nuances of the market, you’ll be better equipped to tackle the challenge – and hopefully reap a bit of great British success.
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As the on-trade is hit by a cost-of-doing-business crisis, many are facing a tough decision unless government intervenes. James Bayley reports.
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There has been resounding support for hospitality business in parliament this week as MPs reported that the sector is “screaming out that VAT is too high”.
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The changes to alcohol duty, due to come into effect tomorrow (1 August), are the biggest the UK has seen in nearly fifty years. As businesses make their final preparations, it seems we could see a raft of new changes entering the drinks landscape – including the need to better communicate the law of increasing returns when it comes to wine and the benefits of trading up.
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Luvians manager Archie McDiarmid fears for the future of the alcohol industry in Scotland if government proposals go ahead
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Britain’s leading managed pub, bar and restaurant groups enjoyed their best December trading in three years, the latest data from CGA has revealed. However, thanks to double digit inflation, sales remain well below pre-Covid levels in real terms, demonstrating the double pronged impact of the cost-of-living crisis and Covid recovery on UK businesses.
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It’s likely that alcohol will play little to no role in the celebrations in the Sunak household this evening, as the UK prepares for a new – and perhaps its first ever teetotal Prime Minster – in Number 10.
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The industry has welcomed the news that government will expand its help for businesses with their energy bills, with subsidies set to cover contracts going back to December 2021.
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The six-month energy cap unveiled by the Prime Minister yesterday has been met with a smattering of optimism among businesses. Though predictably, the resounding consensus from many corners of the trade is that the measure does not nearly go far enough in limiting the impact of exorbitant energy costs.
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UKHospitality (UKH)chief executive Kate Nicholls has written an urgent letter to the UK government, outlining the potential disaster facing thousands of businesses in light of the energy crisis.
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Hospitality businesses are facing a case of ‘out the frying pan, into the fire’ this autumn as the UK teeters on the verge of a recession and a crippling cost of living crisis, leading members of the trade have said.
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Mounting pressure is being placed on the government to ease the ‘financial fragility’ of the hospitality sector during its upcoming review of business rates, as businesses continue to suffer rising supply chain costs and runaway inflation.
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A £15bn package aimed at helping households deal with inflation and the rising cost of energy bills comes just one day after the Sue Gray report was published – a move that has prompted critics to question the rationale and timing of the sudden windfall for British consumers. Also, they ask, where is the support for business?
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As the latest Wine Drinkers UK communique suggests, taxing alcohol is set to cost the wine industry an estimated £300 million and push up prices for UK consumers, without bringing any significant boost to Treasury funds.
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Restaurants across the country are still suffering the devastating effects of Covid and face a tidal wave of soaring costs, including a return to 20% VAT.
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Staffing issues continue to set back hospitality’s recovery from Covid-19, according to a new survey, which has found that nearly four out of five hospitality leaders have offered higher wages to try to retain staff.
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In a sector facing soaring costs and plummeting consumer confidence, today’s increase in VAT gives operators a tough decision to make on price rises.
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Last week’s out-of-home drinks sales were 7% up on pre-pandemic levels, CGA’s latest Drinks Recovery Tracker reveals.
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