Restaurants, hotels and nightclubs are just a few of the businesses under the hospitality umbrella that have suffered as a result of the pandemic and the subsequent lockdowns. The industry has bared the brunt of the cycle of lockdowns during the course of the global crisis.
The Covid-19 pandemic rocked the world and has affected everything in its wake and continues to persist. The hospitality industry was far from immune to the effects of the pandemic. The industry has been hit the hardest by the pandemic, resulting in catastrophic consequences for some businesses.
However, there does seem to be hope yet, as Boris Johnson’s announcement of his roadmap out of lockdown indicates that the hospitality industry will be able to begin operating to its full capacity once again. Not only this, but Chancellor Rishi Sunak has unveiled a £5bn restart grant scheme in his budget this week, which will award hospitality business’ payments of up to £18,000. This action from the government offers optimism, as they have a big role to play in aiding in the revival of hospitality businesses that have been impacted by the pandemic.
Despite the obvious blessing that this grant scheme presents, it may not be the golden ticket that it seems. The series of closures and the many restrictions have caused several businesses to crumble under the weight of it all. Though the grant does provide grace, it may not be enough to resurrect businesses from the serious damage caused by the pandemic. The hospitality industry has been abandoned for so long, the grant being offered is only one step in the lengthy recovery process.
Whilst this grant scheme may feel like too little too late for some, it will offer a vital helping hand that businesses in the industry have been yearning for. Many businesses’ cash reserves have been drained as a result of forced closures, so the designated money will provide the relief needed by so many. With any luck, it will be the kick-starter to businesses finding their feet again and being able to sustain themselves through and beyond this crisis. The grant provides substantial hope for the businesses who believed that they may not pull through this challenging time.
It has been a long road of uncertainty for the hospitality industry and the proposed grant scheme is the light at the end of the tunnel that so many businesses so desperately need. This will hopefully be the spark that will reignite the industry initiating a return to its full glory.
