Connect with us

Hi, what are you looking for?

Investing

Coronavirus grants ‘not enough’ for hospitality businesses

empty pub

The hospitality industry is going through “carnage” and needs more government help.

The chancellor’s grants for closed businesses fall way short of covering their costs, an online “round table” event was told.

Philippa Goodwin, finance director of the Hoburne Group of holiday parks – with a site at Bashley in the New Forest – said income from food, beverages and entertainments had “really suffered”, but was “slightly subsidised” by areas such as holiday home sales.

“In terms of the government support it’s somewhat lacking at the moment. The grants that we’ve been able to claim this time round are pathetic,” she said.

“Our costs are still high. Furlough has been great but we’ve got probably about 800 people across our business and it’s quite complicated in terms of weekly variable pay. The furlough claim is hugely complex but it certainly has helped us keep people employed.”

Mark Cribb, owner of Bournemouth’s Urban Guild venues and host of the podcast Humans of Hospitality, said: “I really hope the government realise how important Easter is for us. I get the challenge of reopening for Easter, because if all of a sudden you let everybody start to travel, clearly that could be detrimental, but if you’re not going to allow us to open, let’s be realistic about some of the support that’s available.

“We’ve only got two months left of this year and so far we’ve only traded for nine weeks unrestricted.”

He added: “I spend about half a million pounds a year on taxes if you look at VAT, national insurance and all that sort of stuff. Up until about two weeks ago, I’d had £3,000 so I pay half a million a year in taxes and I’ve had three grand back. That’s not the government being super-generous.”

Paul Kinvig, chief operating officer of Bournemouth Town Centre Business Improvement District, said: “It’s been carnage. Hospitality was one of the first to close and will essentially be the last to open.”

Mairead Taylor, NatWest’s director of corporate and commercial banking in Southampton and Dorset, welcomed the chance to listen to businesses at the event. “We’ve got a huge leisure part of our business based in Dorset. I have regular updates from my leisure relationship managers but it’s a great opportunity to hear from you directly,” she said

Read more:
Coronavirus grants ‘not enough’ for hospitality businesses

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

THE PHILIPPINES lags regional peers in terms of the share taken up by solar and wind energy in its power mix, energy think tank...

Economy

THE PHILIPPINE government tempered its economic growth target for this year, as rising inflation and ballooning debt threaten to hamper the economy’s recovery from...

Economy

By Keisha B. Ta-asan SOURED LOANS held by Philippine banks declined for a third straight month in May, bringing the nonperforming loan (NPL) ratio...

Economy

THE NATIONAL Government is hoping local government units (LGUs) will channel their expanded budgets into raising agricultural output, Finance Secretary Benjamin E. Diokno said....

Economy

THE MARCOS administration should immediately address power supply shortages and high electricity rates, which are affecting businesses in the country, the Philippine Chamber of...

Economy

MANILA Electric Co. (Meralco) has confirmed receipt of an order from the Energy Regulatory Commission (ERC) directing the country’s largest power distribution utility to...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.