Pub-loving Brits expected to splash out over £80m more than last year
Spending analysis from Liberis, a leading small business finance provider, has revealed that this Easter weekend pub-loving Brits are expected to shell out over £80m in extra spending in pubs, restaurants and bars, contributing to a £91m in extra spending across the industry in 2018.
On average, Liberis predicts high street retailers’ card transactions within the food and drink industry will increase by 11% compared to a normal weekend.
Restaurant, pub and bar owners are expected to win big this Easter with a 4.5% increase in spend over the Bank Holiday compared to a normal trading week.
Commenting on the findings, Rob Straathof, CEO, said: “With the Easter Bank Holiday weekend right around the corner, business is clearly booming for UK pubs, bars and restaurants. Brits looking to enjoy the Bank Holiday are looking forward to splashing out on long lunches and spending time with friends and family in the country’s best bars, pubs and restaurants – fingers crossed the weather stays bright for it too!”
Earlier this year, research from Liberis revealed that, despite the omnipotence of ecommerce, 46% of SME owners believe trading on the high street still has a positive future.
Through its Business Cash Advance, an innovative form of funding, Liberis links repayments directly to cash flow so businesses only repay when their customers pay them. To date Liberis has helped over 7,000 SMEs, advanced over £210m in funding and supported over 35,000 jobs in the UK. Moving forward, the company aims to further empower small businesses, broadening customer reach through strategic partnerships and international expansion.
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