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1 in 4 nightlife businesses will close in the next month without government support, survey says
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With the UK government today (June 14th) expected to announce a delay by four weeks of the relaxation of social distancing measures, the Night Time Industries Association (NTIA) has warned this could have stark consequences for the UK’s nightlife industry without greater targeted support.
According to a survey of the NTIA’s member businesses, one in four businesses will not survive longer than a month without more support and 50% will not survive longer than two months without such help.
“Night time economy businesses have waited patiently for their opportunity to open for over 15 months, many have not survived, some are on a financial cliff edge, hundreds of thousands of jobs have been lost, a huge pool of talent has been swept away and others have been left to suffer extreme financial hardship,” said Michael Kill, the NTIA’s CEO.
He continued: ““We should not underestimate the importance of the 21st June to these businesses, employees, entertainers and freelancers, a day when they should be given back there opportunity to trade, regain their livelihoods, careers, social well being and the day that the government is due to give culture back to the UK.
“Many of these businesses and individuals have adapted, overcome and survived for an exceptional length of time with the bare bones of support, and have arrived at this opportunity to find that it could be ripped away from them.
“Any delay will drive confidence in the sector to a new low, culminating in workforce leaving the sector, and customers who are starved of social engagement, attending illegal unregulated events in place of businesses that are well operated, licensed and regulated.”
The NTIA’s survey of 300 businesses also revealed that 54% of businesses have spent over £15K in preparation for reopening on 21st June already and 17.8% have spent over £40K; one in five businesses estimate they will lose over £40K per week in revenue whilst restricted from trading or closed due to the delay in the 21st June easing of lockdown; and 33% of businesses estimate they will lose over 30% of their workforce due to the delay in the easing of lockdown on 21st June.
The warning follows similar appeals by the Music Venue Trust and NTIA last week.
