Residential mortgages are not available for purchasing a business which means; if you are looking to purchase a property to run as a hospitality business you will need a commercial mortgage.
Continue reading “Finding your way around commercial mortgages for hotels, pubs and b&bs”
Back in 2009, pubs were facing the double whammy of the credit crunch and smoking ban. Then, pubs were closing at an average of 50 a week. Five years later, the decline has slowed but, even so, pubs are still caught in the much longer-term social and economic forces which shape the way British people currently live, drink and socialise.
Stewart Hindley LLP Chartered Certified Accountants & Registered Auditors have recruited Danny Phillips, a Senior Manager at PwC with over 10 years of experience both in the UK and America.
Continue reading “Stewart Hindley & Partners appoints new tax specialist”
International Real Estate company, GVA reports renewed optimism in the hotel sector, following the ‘no’ vote in the Scottish Referundum.
Continue reading “Hotel finance sector update, post Scottish Referendum”
Some guesthouse owners start out full of enthusiasm and optimism, but struggle when they find that their bills are higher than they expected, that the working hours are longer than expected and that key aspects of health and safety policy have been overlooked. Whether you are running a guesthouse or a large hotel, focusing on business planning should be your first consideration.
Running a B&B can be hard work, with early mornings and never-ending piles of washing to deal with. They key is to prepare well before you set the wheels in motion in order to save yourself time, money and energy. With the proper care and attention, running a B&B can be satisfying, profitable and a great life style choice.
During the Conservative Party Conference, Business Minister Matthew Hancock MP launched an independent review into the “sharing economy”, which could spell good news for bed and breakfast establishments in the UK.
Continue reading “Government review of “sharing economy” should benefit B&Bs”
Once derided as old-fashioned, it seems UK guest houses are beating the competition once again. Earlier this year, a Dorset B&B was named the best in the world in Trip Advisor’s annual Travellers’ Choice Awards. Bindon Bottom, a five-room bed and breakfast in Dorset, took the top spot, fighting off stiff competition from establishments in leading destinations such as California and Thailand.
You’ve considered everything you can think of to save your business, but your creditors keep pressing and there is no immediate way of keeping them satisfied. If this is the case, now would be a good time to get in touch with a firm of experienced business recovery specialists, who will be able to advise you on the various insolvency options available to you.
Continue reading “Finding a business recovery or insolvency expert”
Is your business suffering financial difficulties? It may be tempting to bury your head in the sand and hope the problem goes away, however, doing so is likely to make matters worse. The best approach is to take immediate action and to consider the various funding options available. Whether your main problem is tax arrears, creditors or a temporary cash flow difficulties, whilst these are very challenging circumstances more often than not it is possible to keep your business trading and importantly solvent.
