Confidence among the bosses of Britain’s pub and restaurant groups has been “fractured” by the double whammy of coronavirus and the Government’s new immigration policy, according to a new poll by the CGA.
A snap survey of close to 100 bosses, from small entrepreneurial operations up to the big corporates, found that 85% of senior executives across the out-of-home food and drink market said they were now “concerned” about the threat of coronavirus to their business, with 58% of leaders “very concerned”.
The survey also revealed that the majority are expecting a hit on sales, with 42% suggesting it will have an “extremely negative” impact and 51% saying it will be “quite negative”.
In addition, over half (51%) predict it will have an “extremely negative” impact on their profitability, with a further 44% suggesting it will be relatively negative.
A separate poll by CGA of consumers this week found that so far the public may not be quite as concerned, with 57% of consumers predicting that they will eat and drink out as much over the next three months as they currently do.
A spokesperson said: “However, concerns among pub, bar and restaurant operators about the outbreak, and also the Government’s announcement of tougher immigration rules, which has left a mere one in five leaders confident in their capabilities to recruit, train and retrain a workforce, has seen overall business confidence take a tumble.”