Hospitality venues across the UK, from today, will be able to take advantage of the Government's Eat out to help out scheme, encouraging people to visit local pubs and restaurants Monday through Wednesday. Returning to normal for the hospitality sector is set to be a long process but with the right support it is an industry that employs 1.6million people that will be vital to the future growth of the economy.
IW Capital – a leading UK SME investment firm – has funded over 40 growing small businesses since 2011, including Brewhouse and Kitchen and Borrow My Doggy. In the past few months they have supported a number of businesses looking to grow through lockdown as firms from a variety of sectors who are looking to carry on with - or alter - their plans.
Luke Davis, CEO of IW Capital and private equity expert, discusses the move to support hospitality through a tough period and what the sector could look like post-Covid:
“This period has been incredibly challenging for every sector of business and especially the hospitality sector, in which many businesses rely on packed spaces to make the most of custom. Today, however marks an end to the immense uncertainty over the last few months. Innovation will be needed to make new restrictions work for businesses and customers, but this is something that UK SMEs have in spades.
Now could be a fantastic opportunity to support businesses in this sector at a time when they need support most and with the biggest opportunity for growth. When lockdown and social distancing restrictions are eventually fully lifted this period could lead to a new age of innovation and improved customer experience in hospitality, making it an exciting sector to be a part of.”