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BBPA Says Pubs Need Access to Finance Now

The British Beer and Pub Association (BBPA) has said pubs need financial support immediately.

The industry is badly suffering, as all pubs have been ordered to close amid the coronavirus pandemic.

Overall 75% of pub and brewery businesses are waiting to see if they will receive government support

Grants Yet to be Paid

The BBPA said that more than half have yet to collect critical government grants.

A total of 61% said that they were still waiting for the £25,000 grant they were eligible for.

As for the £10,000 grant, 58% said that they had not benefited as yet from the  government support initiative.

The BBPA also found in its own research, that there is effectively a “postcode lottery” over receiving the  grants.

There has been stark differences between local authorities in the delivery of the funding.

A Quarter Successful on Loans

Only a quarter of pub enterprises have successful in obtaining government loans.

Yet no company said they were denied any loan backing.

The arrangements applied for include the Coronavirus Business Interruption Loan Scheme. And a similar scheme aimed at larger companies.

The BBPA is urging the government to speed up the process for all loans and grants.

And also increase the number of loans and grants that are available.

Emma McClarkin, Chief Executive of the British Beer & Pub Association, said:“If the Government doesn’t take decisive action now to both widen and speed up the delivery of grant payments and their loans, then pubs and breweries are at real risk of not surviving the lockdown and jobs will be lost across the UK.”

BBPA Praise

More positively, the trade association said it has welcomed the introduction of the 100% Government underwritten ‘Bounce Back Loans’ initiative..

However, its also advised that applications from pubs must be prioritised.

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