News & Insights
The Soho Business Alliance (SBA) have written an open letter to Boris Johnson, Rishi Sunak and Westminster MP Nickie Allen demanding more support for businesses in Soho and around the UK.
Though the SBA was initially established to fight for small hospitality businesses during the pandemic, the group is now described as a “fully functioning alliance, working closely with Westminster City Council, residents, workers and visitors to Soho”, and with members across all business sectors in the area which is the second largest employer per square mile in the UK after the City of London.
The SBA’s open letter highlights the various problems for the government to consider as quickly as possible, stating that “Q2 and Q3 2021 are absolutely the key quarters when most business failures will occur” if these are not addressed. Indeed, there is a very real possibility that one of the most economically dense and diverse areas of the UK may seem like a ghost town by the end of 2021.
The key points they raise are as follows:
The letter also suggests six key solutions, to address the issues highlighted above, whilst imploring the government to adopt these measures into the 2021 March Budget:
Without the above support, many businesses in the hospitality sector will be guided towards mass failure, CVAs and liquidation.
Moreover, once the pandemic has been brought under control, the need for the hospitality sector will be greater than ever. If properly supported, these businesses will play vital role in restoring a sense of normality and reviving the UK’s economy.