Research is starting to show more hope for pubs and restaurants, although many businesses still face challenges such as rising costs, including the recent minimum wage increase in April.
Some venues have been able to pass on higher costs through price rises, and larger brands are showing growing confidence by investing in refurbishments and reopening venues.
Here are some ideas that may help your business:
- Specialist recruiter Caterer reports that some businesses are offering relocation packages, flexible shifts, bonuses, and even subsidised housing to attract workers from other parts of the UK. Could your recruitment stand out by offering something similar?
- Some venues, even in major cities, are closing during unprofitable times. Zero-hour contracts offer flexibility, but maintaining attractiveness as an employer remains vital. We can help you review staff contracts and trading patterns to determine if this approach might be suitable for you.
- Community-owned pubs have increased by 63% in the past five years, serving as a vital resource for struggling venues, particularly in rural areas. If you’re considering transferring ownership to the community or your employees, we are here to assist you throughout the process.
What makes a difference?
- Effective decision-making relies on precise, real-time information. Reach out to us to learn how your bookkeeping and management data can deliver the insights you need, exactly when you need them.
- We can assist with strategy sessions or brainstorming to help you explore new ideas and directions.
- Running a business can be lonely and tiring. Joining business networks that understand your challenges can provide valuable support.
- Maximise supplier finance first. Having a strong credit score helps secure the best terms. We can explain how.
- Anticipating cash flow gaps in advance can alleviate stress. There are specialised lending products tailored for the hospitality industry. Contact us to learn more.
We’re here to help
For more information about any of these areas, please contact Cian Iddison.
