BusinessesForSale.com CEO Andrew Markou has been featured in the Daily Express, arguing that supporting pubs alone will not be enough to revive Britain’s struggling high streets.
Read the original Daily Express article here.
The article welcomed proposals to help pubs and give councils greater powers to restrict the spread of vape and betting shops. However, it pointed out that restaurants, cafés, takeaways and other independent hospitality businesses face many of the same pressures, including rising wages, high energy and food costs, business rates and tight margins.
It also highlighted the UK’s 20% VAT rate on most hospitality purchases. This is considerably higher than the rates applied to restaurant food in countries including France, Spain, Italy and Germany.
BusinessesForSale.com currently lists more than 1,200 pubs and almost 500 fish and chip shops, alongside thousands of other hospitality businesses. While owners sell for many different reasons, the article noted that buyers, sellers and brokers are increasingly conscious of the difficult economics facing the sector.
The Express piece concluded that preventing unwanted businesses from opening addresses only one part of the problem. Reviving town centres will also require conditions that encourage people to invest in, acquire and grow the independent businesses communities value.