Frustration is growing as interest rates rise and the pound plummets to all time low, businesses across the country are feeling the pressure, particularly hospitality and night time economy SMEs and independents. (Pubs, Live Music Venues, Nightclubs, Venues and Bars).
These businesses are the backbone of our communities across the UK, and are the independent drivers of creativity and entrepreneurial spirit, bringing fresh and diverse offerings to high streets, towns and cities as part of the cultural tapestry of this country.
As trade associations battle for support today and in the next budget, it’s clear that representation is leaning towards the exclusion of certain businesses across the sector, marginalizing true independents.
The NTIA who have lobbied for support throughout the pandemic and cost inflation crisis, are urging the Government to consider an inclusive support package, as they speak out about the frustration and challenges for indy businesses across the sector.
Michael Kill CEO NTIA said, “We fear that Independent hospitality and night time economy businesses are being frozen out of future support! As was the case during the pandemic with VAT cuts only aligned to food, soft drink and accommodation.”
“At that time wet led businesses were marginalized by the Government, and we fear that they will continue to be, whilst the predominance of representation in Government is influenced by wealthy corporations and the trade associations that back them.”
“It’s about time the true night time economy and hospitality sector made up of Independents, predominantly small medium enterprise businesses are heard and considered by the Government.”
“We will only have true parity when the likes of VAT cuts and targeted financial relief are inclusive, and beneficial to all businesses across the sector, not exclusive to certain types of business.”
“Under the current cost constraints a huge proportion of the hospitality and night time economy businesses will be lost in coming weeks and months. Leaving many to become an opportunity for cheap acquisition by corporations with financial scope to expand their empires.”
“The rhetoric suggesting that the rich will get richer is all but true in our sector as we move into darker times, we must fight for fair and inclusive support for all within the Government, in the fight for survival.”