Confidence levels in the leaders of Britain’s pubs and bars remain high, according to a new survey.
The CGA Fourth Business Confidence Survey found that the operator’s confidence in their businesses remained high, and was, in fact, higher than the confidence in the market on the whole.
The survey asked 140 senior industry executives a series of questions on their business, with pubs, bars and vendors that are predominantly drink-led businesses being more confident about their future prospects.
The research found that 61 per cent of business leaders in drink-led businesses say that they feel optimistic about the market in the next year.
However, the figures for restaurants and food-led business were much lower. Just one-third of business leaders in food-led operators said that they feel optimistic about the market in the next 12 months.
Overall, 41 per cent of respondents said they that feel either fairly or very optimistic about the prospects for the drinking and eating out market in the next year, which has increased from 39 per cent in February but is down by 6 per cent on the same period a year ago.
Additionally, almost half of the business leaders that were surveyed believe that consumers will drink and eat out less often in the next six months.
Phil Tate, Chief Executive of the CGA Group, said: “The patchy optimism among food-led business leaders confirms that 2019 has been a rough ride, with casual dining operators buffeted by ferocious headwinds and several high-profile brands struggling.
“But leaders of drink-led businesses clearly feel they have much more to look forward to – a sign that after many years of pub closures and restaurant expansion, the tables have turned.”