The number of business leaders with confidence in their own company’s future has fallen, a poll from CGA and Fourth has revealed.
The business confidence survey found that 63% of polled senior executives from across the pub, bar and restaurant sector were confident in their own company’s prospects for the next 12 months, down from 69% in July.
However, there was a slight uptick in perceptions of the sector as a whole. The latest figures put confidence in the market at 39%, up from 36% in July and 34% in February.
CGA group chief executive Phil Tate said: “This simply reflects the volatility and uncertainty in the market.
“Our latest CGA Business Confidence Survey reflects a complex and mixed picture at the moment. Many businesses continue to find conditions extremely challenging and confidence clearly remains fragile as the year ends. Christmas trading will now have an enormous impact on the levels of optimism as we enter 2019.”
The low levels of optimism come despite 38% of respondents reporting that performance over the past six months was ahead of expectations. However, 23% found they had traded below their predictions over the period.
Tate added: “Many drinks-led pub businesses are clearly buoyant at the moment, riding high on the hot summer and World Cup and anticipating a strong festive period.
“However, our survey shows that they, like all operators, will need to stay resolutely focused on the consumer next year – supplying not just good food and drink but embracing key trends and delivering the high-quality all-round experiences that guests now demand.”