When we last reported on the financial health of the hospitality sector in June this year, the position was far from positive. In particular, we noted that: The average financial health rating for the hospitality sector is only 31 out of 100, compared to the whole economy at 45. Over half of hospitality companies are at serious risk of insolvency
The voluntary sector has been struggling for some years with increasing costs, reduced funding and rising demand for its services. The Budget contains a complex cocktail of measures that have the potential to affect charities’ finances and viability both positively and negatively. Our detailed review of the Budget and its impact on business can be found here. Positives Local government
Businesses have taken a hefty hit from Labour’s Budget announcement on the 30th of October. This comes in the form of a 1.2% rise in the National Insurance rate paid by employers, which is estimated to raise £25bn for the Treasury, and a rise in the National Minimum Wage. Business owners are also unlikely to be happy with the Capital
When Administrators were finally appointed over ISG’s UK operating companies on 20 September 2024, and all trading ceased immediately, it ended weeks of speculation about the fate of the UK’s sixth-largest construction business. In fact, rumours about ISG’s financial vulnerability had been circulating for some time and advisers in the industry had been warning clients to avoid using ISG for
Just as the commercial world was coming out of a pandemic, which turned global trade into total chaos, the first European war since WW2 wreaked even more havoc on the availability and price of a wide range of goods. This is all too recent and painful history for procurement departments in the UK. Now, international and domestic supply chains are
When the new Chancellor rises to her feet in Parliament on 30 October, she will be announcing what the government’s expectation management campaign has warned will be painful measures aimed at repairing the alleged £22bn black hole in the public finances. Her Budget package will emerge against the unenviable backdrop of elevated public debt, a historically high tax burden and
