Finance

Finance

Whether you’re a budding entrepreneur with a bold idea for a new restaurant concept or a successful hotelier with plans to expand an already popular business, this section has all the latest news and trends in hospitality finance to help you on your way.

Bank lending to SMEs is falling despite government efforts to encourage better funding

Government scheme fails to boost SME lending

By Carina Perkins

Business groups have called for government action after a new report showed lending to small and medium-sized firms (SME’s) such as restaurants, hotels and bars continued to fall in the second quarter of the year.

The hospitality sector's contribution to the UK's GDP has dropped by 0.2 per cent

Sector’s GDP contribution drops due to lack of funding

By Melodie Michel

The hospitality sector’s contribution to Britain’s GDP dropped 0.2 per cent (£1.5bn) between 2007 and 2013, partly due to the lack of bank funding for SMEs, according to a report by Boost Capital.

Lack of competition means banks are not incentivised to compete on price, service and innovation, the CMA found.

Banks are failing SMEs, finds competition watchdog

By Carina Perkins

Banks are failing to provide the service and value that small and medium-sized (SME) businesses such as bars, restaurants and hotels need to thrive, according to a new report from the Competition and Markets Authority (CMA).

Chancellor George Osborne will make his 2014 Budget announcement at 12:30 GMT

Budget 2014: What can we expect from George Osborne?

By Luke Nicholls

The Chancellor George Osborne will today present 'a Budget for a resilient economy'. But with further calls for another beer duty cut and a reduction in VAT, hospitality professionals will undoubtedly be among those watching most closely.

Young’s completed the £300k refurbishment of Horts in Bristol late last year

Work that experience: The changing face of customer loyalty

By Mark Wingett

Consumers have become ‘value hunters’ and are increasingly willing to go extra lengths to get the best deal, making it more important than ever to build the relationship that will create brand loyalty. But with this loyalty comes further expectations...

Lightbulb moment: Sixty-eight per cent of restaurants are now adopting new measures to try and cut their energy usage

Energy price hikes: Restaurants feel the heat as costs soar

By Luke Nicholls

The inflation-busting price hikes announced by ‘the big six’ electricity and gas firms last year have hit hospitality businesses hard, with 90 per cent of restaurateurs claiming rising energy costs have forced them to reassess menu prices.

In his 2013 Autumn Statement, Chancellor George Osborne said the Government's plans will 'remove the cap on aspiration'

Autumn Statement 2013: What it means for hospitality

By Luke Nicholls

"Britain's economic plan is working," proclaimed George Osborne in his Autumn Statement earlier today as the Chancellor pledged to support 'the hard-working values' of the nation's high street restaurants, cafés and pubs. 

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