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Covid-19 and the Effects on the Hospitality Trade

During the lockdown, Pubs, Bars Restaurants and Clubs have poured a staggering 81 Million pints of beer down the drain! This equates to a heart wrenching £331m of lost revenue!

While the UK government has supplied some form of support during the crisis, by way of bridging loans and furlough payments, still almost 10,000 licensed premises shut their doors for good in 2020! This shows a rise of 125% on the previous year. Self Run establishments being the biggest casualty with Casual dining, the hardest hit businesses.

An estimated 640,000 job losses have been caused already in 2020 regardless of the government support.

2021 is speculated to become much worse due the loss of Christmas trade over the season followed by renewed lockdowns, it becomes more apparent that we are slowly headed towards “survival of the fittest”.

Our hometown of Worcester as an example was delivered a huge blow after finding that the famous Worcester Victoria Christmas Fair that receives over 150,000 visitors to the city would be cancelled. Many of the small hospitality businesses in the city such as Bars, Restaurants and Hotels rely on this yearly boost in custom to survive the quite months of January through March. Added that they can not open at all currently and not likely to open until the summer I fear many more will follow suit.

As an independent business, “survival of the fittest” begins at the base roots of your business. It is a great time to look at every possible fixed cost that your business has and find reductions wherever possible.

Start with the simple and easy things to check like your internet/phone provider. Ask yourself honestly “when was the last time I compared services?”, “could I get a better deal elsewhere?”

Check your Gas and electricity contracts, if you are not in contract and on a variable rate then you are likely considerably overpaying for your energy! As your usage has clearly dropped, Check standing charges, there are many suppliers now offering zero standing charge deals!

For a full whole market comparison for your electricity and gas please do not waste time, contact us now 0800 8611808

Or feel free to generate your quotes with our Business Energy Price Comparison Tool

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