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Confidence among restaurant leaders improves post Brexit

05 December 2016 by
Confidence among restaurant leaders improves post Brexit

Confidence levels in the eating and drinking out market are rising following the Brexit vote but are still well below those at the start of 2016.

That's according to an analysis by CGA Peach following a November survey of more than 200 senior executives in restaurant, pub, bar and cafe groups.

Half (50%) said they were optimistic about prospects for the market in the next six months. Of those, a handful (5%) were very optimistic. Almost a quarter of executives (23%) remained pessimistic.

However, levels of optimism fell to just 36% when those same operators were asked about their confidence in the market over the next year, reflecting continued uncertainty about the government's Brexit plans.

Of those surveyed, around a third (31%) said they were pessimistic about the market in the coming year.

Confidence has improved since immediately after the EU referendum when just 15% said they were upbeat, but the most recent figures are still below the 75% confident about market prospects at the start of the year.

After Brexit, the next biggest worry was business rates increases, felt most keenly among restaurant chains more dependent on leased sites in ruban areas, according to CGA.

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