Many HBAA members - hotels, venues and agencies - are SMEs and they are expecting to experience significant cash flow problems as a result of the Coronavirus issue.
So we're delighted by many of the Chancellor's Budget initiatives that will alleviate the pressures that they will face.
The 12 month abolition of Business Rates for smaller businesses; the extension of this to include the leisure and hospitality sector; the coronavirus temporary business interruption loan scheme and the refunding of sick pay for staff off sick for up to 14 days will all benefit our smaller business members. The freeze in fuel and alcohol duty and the investments in roads will also help the whole of our industry.
The cancellation and reduction of meetings and events is already impacting on everyone in our industry so these measures are all very welcome.
While we would have liked support for training, addressing the immediate issues that we are facing is rightly the priority.
As this industry generates £43bn each year for the UK economy, we hope that the Government will keep the issues that the industry is facing under ongoing review and take further steps to ensure that this valuable sector doesn't decline into disrepair through lack of support.