Business Rates
We provide essential coverage of business rates policy and reform, and how it impacts operators across the UK foodservice and hospitality sector. From government relief schemes and revaluation updates to lobbying efforts led by UKHospitality and industry coalitions, this captures the key developments influencing site viability and cost pressures. Whether you run a single high-street restaurant or oversee a multi-site pub or catering group, we explain how changes to the business rates system affect your bottom line, and what you need to know to plan ahead.
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Jan- 2024 -29 JanuaryRestaurants
Buzzworks sees revenues rise to £29.9m
Buzzworks Holdings Limited has reported a 19% increase in revenue to £29.9m for the year ending 30 April 2023. Its like-for-like sales were also up 5.3% for the five weeks to 31 December 2023 which came on top of “strong growth” last year. However, the group recorded underlying EBITDA before…
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25 JanuaryNews
Today’s news in brief – 25/01/24
Hospitality vendors in the North have averaged 7.2% sales growth in 2023, despite the cost of living crisis and escalating business rates. New research conducted by Northern Restaurant and Bar in partnership with CGA by NielsenIQ revealed that Newcastle (12.7%) and York (9.2%) lead the uptrend, followed by Sheffield (7.1%),…
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25 JanuaryNews
Northern hospitality venues welcome 7.2% sales growth in 2023
Hospitality vendors in the North have demonstrated growth and resilience over the past year, averaging 7.2% sales growth despite the cost of living crisis and escalating business rates. New research conducted by Northern Restaurant and Bar in partnership with CGA by NielsenIQ revealed all northern England cities saw a growth…
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24 JanuaryNews
Scottish pubs and hotels ‘left behind’ due to lack of support, UKH Scotland says
Hospitality businesses are being financially disadvantaged by a lack of support by the Scottish Government, new analysis by UKHospitality Scotland shows. An average pub in Scotland will be £15,000 worse off than its equivalent in England, with a medium-sized hotel finding themselves £30,000 worse off. Larger businesses have been denied…
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24 JanuaryPubs and Bars
Wetherspoons H1 sales rise 10.1%
Wetherspoons has revealed that like-for-like sales were 10.1% higher during the 25 weeks to 21 January compared with last year. The pub chain attributed its performance to bar sales rising by 11.8%, food by 7.9%, and slot and fruit machines by 10.4%. Hotel rooms in its pub estate also saw…
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19 JanuaryFood and Drink
Hospitality venues’ sales rise 8.8% over December
Restaurants, pubs and bars saw sales rise by 8.8% over the latest Christmas period compared with data from 2022, according to the latest CGA RSM Hospitality Business Tracker. According to CGA and RSM, the industry saw a sharp increase from 4% in November to more than 8% in December, and…
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18 JanuaryBusiness
UKH Cymru calls for increased business rates relief
UKHospitality Cymru has urged the Welsh Government to increase its business rates relief from 40% to 75%, using allocated funds from the UK Government. The trade body believes that the current plans leave Welsh hospitality businesses significantly worse off than English counterparts. According to data from UKH, a typical pub…
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2 JanuaryNews
Today’s news in brief – 02/01/24
The DLUHC has allocated £25m from the Community Ownership Fund to aid over 70 pubs, cinemas, and museums across the UK. This funding aims to sustain the operations of these community assets and ensure safety in communal areas. Each selected project will receive up to £2m, with 26 community centres,…
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2 JanuaryTrade Associations
UKH sets out plan for 2024
UKHospitality has unveiled a three-point plan which it will focus on in 2024 to put hospitality at the “front and centre of policy making” ahead of the next General Election. The plan includes generating investment through root and branch reform of business rates, creating jobs through Apprenticeship Levy reform and…
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Dec- 2023 -18 DecemberNews
Today’s news in brief – 18/12/23
Hackney Gelato has secured a substantial £1.3m follow-on investment from Pembroke VCT. The funding is set to bolster production, team recruitment, and consumer-oriented marketing efforts. The brand plans to diversify by venturing into new out-of-home spaces like cinemas, theatres, and airlines. Co-founders Enrico Pavoncelli and Sam Newman express their commitment…
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