Survey Suggests 50% of UK Nightlife Businesses Won't Survive Without Government Aid
Ahead of a pivotal announcement by Prime Minister Boris Johnson that the UK government will delay its impending lift of COVID-19 restrictions, a survey conducted by the Night Time Industries Association (NTIA) has produced some grim insights into the immediate future of nightclubs.
The survey, which polled 300 businesses, suggested that 50% of the region's nightlife businesses would shutter in two months without government aid. One in four will not survive longer than a month.
According to NME, 54% businesses have spent over £15,000 in preparation for the June 21st reopening and 17.8% have allocated over £40,000. One in five businesses estimate losses of £40,000 per week in revenue as a result of the delay, while 58% foresee weekly losses of over £10,000.
"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, CEO of the NTIA.
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A survey conducted by the Night Time Industries Association (NTIA) suggested that 50% of UK nightlife businesses would shutter in two months without government aid.
"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," he continued. "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," added Kill, who also noted a potential spike in "illegal unregulated events in place of businesses that are well operated, licensed and regulated."
