- 75% of independent hospitality businesses believe a VAT cut is crucial for their survival
- A recent survey by NCASS found that 78% of respondents were dissatisfied with government support for the industry
- 37% of respondents said they may struggle to continue operating in the next 12 months
- Rising costs have led to businesses cutting staff, changing hours, and taking out loans
- Independent food and drink businesses are struggling to grow due to high operating costs
- The UK government promotes independent hospitality-led regeneration, but current conditions are hindering growth
- Thousands of businesses have closed, with 10 closures per day in the hospitality industry
- More support is needed for small and micro independent businesses to prevent further closures and support communities
Source: accountancyage.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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