Industry News

Archived News

Caterers optimistic about future prospects

The coming year is set to be a good one for the catering industry, if the results of a recent Baker Tilly survey are to be believed.

The company's Outlook 2012 highlighted that almost half of hospitality and leisure companies are optimistic about their prospects in the coming 12 months, although a similar number (47 per cent) were unsure what the future holds.

Just four per cent said that they had a negative outlook, suggesting most companies have no plans to hang up their catering workwear just yet.

And there are plenty of reasons to be optimistic. With the Jubilee celebrations and the London 2012 Olympic Games just around the corner there are extra bank holiday dates, a number of planned events and a huge influx of tourists expected in many parts of the UK, all of which add up to increased business for hospitality companies.

As further evidence that 2012 could be a good year for the sector, 90 per cent of those questioned said that they expect their profits levels to either increase or stay at the same level.

Ali Aneizi of Baker Tilly commented: "As the results of the Outlook 2012 survey show, despite the UK economy teetering on the edge of a double-dip recession, there is confidence within the leisure and hospitality sector for the rest of the year."

In terms of how things could be further improved for caterers and the like, it was widely suggested that a reduction in VAT, tax and red tape would be a massive help.

However, as government aid may be a while coming, it seems that catering firms are taking things into their own hands and trying to improve their processes and systems (49 per cent) and cutting costs (43 per cent) to ensure that they continue to be successful.

Aneizi added: "It seems that the general sentiment among hospitality and leisure firms is fairly positive and they are looking to innovation and improved service to help flourish through these uncertain times."

Posted by Michael Jones