Eamon McCusker, the owner of Chubby Cherub and AM:PM restaurants in Belfast, is facing cost pressures that he has not experienced in his 22 years in the industry. Despite inflation falling to its target rate in May, prices are still rising, just at a slower pace. Increases in wages, food and beverage costs, and utilities have significantly impacted the profitability of the restaurant industry, leading many to close even though they are busy.
McCusker expressed concern that without government assistance, many independent businesses will struggle to survive and may be forced to make difficult decisions to close their doors. He emphasized the need for support in Northern Ireland as losing these businesses could mean losing the heartbeat and soul of the industry. McCusker highlighted the dramatic increase in electricity bills as one of the major factors affecting small businesses’ profitability. One of his venues saw its bill triple from £7,000 to £21,000 in one quarter before leveling out at £14,000 – still double what it was previously. Unlike businesses in England and Wales, hospitality businesses in Northern Ireland do not receive a 75% discount on business rates bills.
Instead of expanding their operations due to uncertainty about future growth plans, many business owners are simply trying to make it through to the next year. The lack of government assistance is putting immense strain on small businesses like McCusker’s Chubby Cherub and AM:PM restaurants – making it harder for them to thrive in an already challenging environment.
The article reports on how Eamon McCusker is facing tough cost pressures that he has not experienced before despite inflation falling down. Despite this reduction prices are still going up at a slower pace due to increases in wages food and beverage costs as well as utilities have significantly affected profitability leading many restaurants closing down despite being busy.
McCusker highlighted how electric bills have increased dramatically which had a significant impact on small business’s profitability with one venue seeing its bill triple from £7k-£21k which has now leveled out at £14k but is still double what it was previously unlike other regions such as England and Wales where hospitality businesses receive a 75% discount on business rates bills.
The owner emphasized the importance of supporting small independent businesses like his own Chubby Cherub & AM:PM restaurants as they form an essential part of Northern Ireland’s heartbeat and soul of the industry.
He also pointed out how without government assistance many independent businesses will struggle to survive making difficult decisions about closing their doors leaving many uncertain about future growth plans instead of expanding they are simply trying to make it through until next year which puts immense strain on small businesses like McCusker’s Chubby Cherub & AM:PM restaurants making it harder for them to thrive within an already challenging environment.
