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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Low & no drinks are set to accelerate over the coming years, the IWSR has revealed, with analysts predicting that consumption will increase by a third by 2026, exceeding earlier growth rates.
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A new report issued by Rabobank, the multinational banking and financial services company, has examined the potential for a looming US recession to shrink the hitherto booming market for luxury brands.
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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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Way back when I studied economics at university, I also studied sociology. It struck me then that the way economics is taught is deeply flawed. To call it a science, even a social science, doesn’t make any sense. Unlike scientific study of the cosmos or gravity discovering immutable laws, economics seeks to explain how and why humans do certain things.
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James Bayley dives into ‘quintuple shock’ looming on the horizon in April, as businesses call for more ongoing support to boost recovery.
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Independent retailers in Northern Ireland have cautiously welcomed the announcement that non-domestic rates are to be frozen for the next financial year and that businesses will still receive a three-month rates holiday.
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New figures from UKHospitality show that pubs, bars and restaurants lost £10,335 on average in the week leading up to Christmas, due to fears over the new Covid-19 variant.
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SNP finance secretary Kate Forbes outlined the 2021/22 budget in the Scottish parliament yesterday (9 December), with some good news for ailing retailers and hospitality venues.
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The hospitality sector is “an industry in peril” that is fighting for its life, the latest edition of the UKHospitality (UKH) and CGA Quarterly Tracker has said.
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Today’s Budget announcement included a year-long cut to business rates for the leisure and retail industry, meaning pubs, restaurants and bars will pay 50% less for 12 months.
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Chancellor Rishi Sunak has announced the most radical simplification of alcohol duties for over a century by slashing the number of main duty rates from 15 to six, while also cutting the premium on sparkling wine.
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With the rise of the Indian variant, the promised land of no restrictions is looking unlikely for this month. Lisa Riley reports.
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UK Hospitality (UKH) has warned that the business rates relief cap will jeopardise the future of thousands of hospitality venues, which will face full rates bills within weeks following the unrestricted opening of the sector planned for June.
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The government has launched a fundamental review of business rates, beginning with a call for evidence.
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UK Chancellor Rishi Sunak delivered a bold response to the coronavirus crisis in his 11 March budget, with a raft of measures to support SMEs (small and medium-sized enterprises) and their employees.
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Rent and rate increases in London have left restaurant operators in fear for the future, with 84% saying the charges have become “unmanageable” for their businesses.
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