Less than a third of businesses are optimistic for the next year
Pubs, bars and restaurants’ energy bills have risen by 81% over the last year as firms plea to the Government for support.
Only 29% of hospitality businesses are optimistic about their future after energy price increases, as well as more expensive food and wage bills.
Business owners said they are particularly concerned about energy costs, with 86% of firms saying it was a worry.
The data was collected by CGA by NielsenIQ on behalf of the British Institute of Innkeeping, UKHospitality, the British Beer and Pub Association and Hospitality Ulster.
It comes around a year since energy bills rocketed after the Russian invasion of Ukraine sparked a sharp uptick in gas prices.
As a result, many firms were forced into long-term fixed-rate contracts last year which have weighed on profitability and resulted in closures.
Last month, analysis of official Government data by the Altus Group found more than 150 pubs have disappeared for good from English and Welsh communities over the first three months of 2023
This represents a 60% jump on levels from last year.
Rising energy costs and wage costs have meant pubs have been forced to close (Picture: AFP via Getty Images)
The trade bodies have joined forces to warn that more venues will shut for good if cost pressures do not ease soon.
In a joint statement, the organisations said: ‘The energy crisis has been pushing pubs, bars and restaurants to breaking point for a year now.
‘Put simply, this data is extremely worrying for thousands of otherwise viable hospitality businesses.
‘The Government must recognise this crisis isn’t just crippling businesses now. Left unresolved it will have a lasting wider impact long into the future, impacting local employment, supply chains and removing essential community hubs from villages, towns and cities across the whole of the UK.’
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Less than a third of businesses are optimistic for the next year.
