A Scottish accountancy firm has predicted that many independent firms could be forced to close without the urgent introduction of business rates relief to put Scottish pubs and restaurants on a level playing field with their English counterparts.
Wylie & Bisset is backing UKHospitality (UKH) Scotland in its claim that a lack of business rates support is unfairly hindering the sector. While Scottish firms have not benefitted from any rates relief since last June, English businesses have been supported since the pandemic and will continue to receive up to 75 per cent relief on business rates in the coming financial year.
Wylie & Bisset partner Catherine Livingstone said she agrees with UKH Scotland that there is an urgent need for short-term relief to ease the burden on businesses.
“I believe that the government needs to offer more support to the hospitality sector," she said. "It is brutally unfair that hospitality businesses in England receive rates relief because of their location while Scottish businesses do not.
“Many Scottish operators have been facing a considerable downturn in trade since the onset of Covid, as well as having to cope with rising costs, supply issues and staff shortages, and I know of many family-owned or small independent hospitality businesses that are currently considering their future, given the impact that these factors have had on squeezing their bottom line profits.”
Ms Livingstone has predicted that without urgent government support, many more hospitality operators in Scotland will fail.
“I would urge any operators who are struggling to survive to seek financial advice as soon as possible to consider their options for the future,” she said.
“I know many businesses are already doing what they can in terms of managing cashflow, cutting costs, raising prices and undertaking financial forecasting, but despite that there are real struggles in the hospitality sector. It is now critical that the government steps in and offers business rate support.”
Passengers flock back to easyJet despite inflation woes
Budget airline easyJet is on course for a return to profitability after three years of pandemic losses, with “strong and sustained” demand for travel despite the cost-of-living crisis.
The company reported a return to the traditional January boom in bookings, hitting record numbers on several days. As a result, it expects to beat market expectations for profits this year.
Dundee Megafactory plan by battery firm AMTE
Smart battery maker AMTE Power has underlined the value of its Caithness production facility as it plans to develop a “MegaFactory” in Dundee.
The company said it has made good progress in recent months with the work completed at Thurso allowing it to scale up the production of battery cells for customers. It said this work ultimately underpins preparations to invest in the planned Dundee production plant.
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