Philip Montgomery, Global On Trade Customer Success Director and Global Client Consultant at NIQ, discusses the results of the Q4 Industry Survey.  The survey has found that in a challenging Northern Ireland hospitality market operators are seeking government support, particularly VAT and business-rates relief.

The survey found that businesses remain cautious about the year ahead, with confidence in individual businesses stronger than the wider market.  Operators see a VAT reduction and National Insurance reforms as measure most likely to improve business resilience, whilst unlocking investment and helping to product jobs.  A reduction in VAT by 10% would help drive investment while helping to mitigate further price increases.

Consumers remain under financial pressure, and are still reducing visits to the on-trade ,creating an ongoing challenge for the hospitality sector, despite improvements regarding sentiment towards the Cost of Living crisis.