Cost-of-living crisis: hospitality leaders’ confidence plummets – MorningAdvertiser.co.uk

Only 23% of leaders are now confident about the next 12 months for the general market – barely a third of the total of 65% at the last survey in March, the research revealed.

Furthermore, the proportion of leaders’ feelings confident about their own businesses, while falling by 15% since the last survey, remains much higher at 53%. This may reflect a greater optimism among the multi-site leaders making up the survey cohort, in comparison to the less financially stable independents which make up much of the wider market.

The Business Confidence Survey shows much of these larger businesses remain profitable for now. Nearly nine in 10 (88%) leaders report their company is currently operating at a profit, and half (53%) say profitability is at or above pre-Covid levels.

UKHospitality chief executive Kate Nicholls said the dwindling confidence of business leaders was “concerning if unsurprising” considering the mountain of challenges the sector continues to confront.

She continued: “Swift Government action – and a commitment to measures to support hospitality from the Conservative party leadership contenders – is vital, to give operators the confidence to plan and invest with a degree of certainty.”

Urgent support needed

Nicholls added: “The schemes to alleviate horticulture worker shortages could similarly help hospitality recruit for the 11% of unfilled vacancies across the sector.

“Support is also urgently required to tackle energy prices that continue to rise at unprecedented rates, and business rate reform is needed to enable the sector to invest in local economies, create jobs and play a full part in the UK’s economic recovery.

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Cost-of-living crisis: hospitality leaders’ confidence plummets – MorningAdvertiser.co.uk

Only 23% of leaders are now confident about the next 12 months for the general market – barely a third of the total of 65% at the last survey in March, the research revealed.

Furthermore, the proportion of leaders’ feelings confident about their own businesses, while falling by 15% since the last survey, remains much higher at 53%. This may reflect a greater optimism among the multi-site leaders making up the survey cohort, in comparison to the less financially stable independents which make up much of the wider market.

The Business Confidence Survey shows much of these larger businesses remain profitable for now. Nearly nine in 10 (88%) leaders report their company is currently operating at a profit, and half (53%) say profitability is at or above pre-Covid levels.

UKHospitality chief executive Kate Nicholls said the dwindling confidence of business leaders was “concerning if unsurprising” considering the mountain of challenges the sector continues to confront.

She continued: “Swift Government action – and a commitment to measures to support hospitality from the Conservative party leadership contenders – is vital, to give operators the confidence to plan and invest with a degree of certainty.”

Urgent support needed

Nicholls added: “The schemes to alleviate horticulture worker shortages could similarly help hospitality recruit for the 11% of unfilled vacancies across the sector.

“Support is also urgently required to tackle energy prices that continue to rise at unprecedented rates, and business rate reform is needed to enable the sector to invest in local economies, create jobs and play a full part in the UK’s economic recovery.

Spread the love

Leave a Reply

Your email address will not be published.

Cost-of-living crisis: hospitality leaders’ confidence plummets – MorningAdvertiser.co.uk

Only 23% of leaders are now confident about the next 12 months for the general market – barely a third of the total of 65% at the last survey in March, the research revealed.

Furthermore, the proportion of leaders’ feelings confident about their own businesses, while falling by 15% since the last survey, remains much higher at 53%. This may reflect a greater optimism among the multi-site leaders making up the survey cohort, in comparison to the less financially stable independents which make up much of the wider market.

The Business Confidence Survey shows much of these larger businesses remain profitable for now. Nearly nine in 10 (88%) leaders report their company is currently operating at a profit, and half (53%) say profitability is at or above pre-Covid levels.

UKHospitality chief executive Kate Nicholls said the dwindling confidence of business leaders was “concerning if unsurprising” considering the mountain of challenges the sector continues to confront.

She continued: “Swift Government action – and a commitment to measures to support hospitality from the Conservative party leadership contenders – is vital, to give operators the confidence to plan and invest with a degree of certainty.”

Urgent support needed

Nicholls added: “The schemes to alleviate horticulture worker shortages could similarly help hospitality recruit for the 11% of unfilled vacancies across the sector.

“Support is also urgently required to tackle energy prices that continue to rise at unprecedented rates, and business rate reform is needed to enable the sector to invest in local economies, create jobs and play a full part in the UK’s economic recovery.

Spread the love

Leave a Reply

Your email address will not be published.

Cost-of-living crisis: hospitality leaders’ confidence plummets – MorningAdvertiser.co.uk

Only 23% of leaders are now confident about the next 12 months for the general market – barely a third of the total of 65% at the last survey in March, the research revealed.

Furthermore, the proportion of leaders’ feelings confident about their own businesses, while falling by 15% since the last survey, remains much higher at 53%. This may reflect a greater optimism among the multi-site leaders making up the survey cohort, in comparison to the less financially stable independents which make up much of the wider market.

The Business Confidence Survey shows much of these larger businesses remain profitable for now. Nearly nine in 10 (88%) leaders report their company is currently operating at a profit, and half (53%) say profitability is at or above pre-Covid levels.

UKHospitality chief executive Kate Nicholls said the dwindling confidence of business leaders was “concerning if unsurprising” considering the mountain of challenges the sector continues to confront.

She continued: “Swift Government action – and a commitment to measures to support hospitality from the Conservative party leadership contenders – is vital, to give operators the confidence to plan and invest with a degree of certainty.”

Urgent support needed

Nicholls added: “The schemes to alleviate horticulture worker shortages could similarly help hospitality recruit for the 11% of unfilled vacancies across the sector.

“Support is also urgently required to tackle energy prices that continue to rise at unprecedented rates, and business rate reform is needed to enable the sector to invest in local economies, create jobs and play a full part in the UK’s economic recovery.

Spread the love

Leave a Reply

Your email address will not be published.

Cost-of-living crisis: hospitality leaders’ confidence plummets – MorningAdvertiser.co.uk

Only 23% of leaders are now confident about the next 12 months for the general market – barely a third of the total of 65% at the last survey in March, the research revealed.

Furthermore, the proportion of leaders’ feelings confident about their own businesses, while falling by 15% since the last survey, remains much higher at 53%. This may reflect a greater optimism among the multi-site leaders making up the survey cohort, in comparison to the less financially stable independents which make up much of the wider market.

The Business Confidence Survey shows much of these larger businesses remain profitable for now. Nearly nine in 10 (88%) leaders report their company is currently operating at a profit, and half (53%) say profitability is at or above pre-Covid levels.

UKHospitality chief executive Kate Nicholls said the dwindling confidence of business leaders was “concerning if unsurprising” considering the mountain of challenges the sector continues to confront.

She continued: “Swift Government action – and a commitment to measures to support hospitality from the Conservative party leadership contenders – is vital, to give operators the confidence to plan and invest with a degree of certainty.”

Urgent support needed

Nicholls added: “The schemes to alleviate horticulture worker shortages could similarly help hospitality recruit for the 11% of unfilled vacancies across the sector.

“Support is also urgently required to tackle energy prices that continue to rise at unprecedented rates, and business rate reform is needed to enable the sector to invest in local economies, create jobs and play a full part in the UK’s economic recovery.

Spread the love

Leave a Reply

Your email address will not be published.

Cost-of-living crisis: hospitality leaders’ confidence plummets – MorningAdvertiser.co.uk

Only 23% of leaders are now confident about the next 12 months for the general market – barely a third of the total of 65% at the last survey in March, the research revealed.

Furthermore, the proportion of leaders’ feelings confident about their own businesses, while falling by 15% since the last survey, remains much higher at 53%. This may reflect a greater optimism among the multi-site leaders making up the survey cohort, in comparison to the less financially stable independents which make up much of the wider market.

The Business Confidence Survey shows much of these larger businesses remain profitable for now. Nearly nine in 10 (88%) leaders report their company is currently operating at a profit, and half (53%) say profitability is at or above pre-Covid levels.

UKHospitality chief executive Kate Nicholls said the dwindling confidence of business leaders was “concerning if unsurprising” considering the mountain of challenges the sector continues to confront.

She continued: “Swift Government action – and a commitment to measures to support hospitality from the Conservative party leadership contenders – is vital, to give operators the confidence to plan and invest with a degree of certainty.”

Urgent support needed

Nicholls added: “The schemes to alleviate horticulture worker shortages could similarly help hospitality recruit for the 11% of unfilled vacancies across the sector.

“Support is also urgently required to tackle energy prices that continue to rise at unprecedented rates, and business rate reform is needed to enable the sector to invest in local economies, create jobs and play a full part in the UK’s economic recovery.

Spread the love

Leave a Reply

Your email address will not be published.