Employers’ National Insurance Contribution Increase – 5 Ways Hospitality Can Cut Costs Now
From 6 April 2025, UK hospitality businesses will face a significant increase in Employers’ National Insurance (NI) contributions. This means higher costs per employee, adding further strain on payroll, hiring decisions, and profitability. With just weeks to go, hospitality businesses need to act fast to protect their margins and sustain operations. What’s Changing? Here’s a […]
8 Key Ingredients for a Winning Business Plan: Secure Your Lease Now
A strong business plan is key to securing the right lease for your hospitality business. Whether it’s a restaurant, pub, or café, a business plan shows landlords you can manage operations, understand the market’s needs, and have stable finances. A well-written plan helps guide your business’s growth and shows landlords you are prepared and committed […]
5 Proven Steps to Save Your Struggling Hospitality Business
The UK hospitality industry, a key pillar of British culture, faces increasing pressures from rising costs, evolving consumer preferences, and regulatory shifts. For many struggling establishments, knowing when and how to restructure can be the key to survival. Here’s how you can navigate financial challenges and position your hospitality business for a successful turnaround: Step […]
Mastering Money, Mastering Success: Financial Expertise for Hospitality Entrepreneurs
In the dynamic world of hospitality, success extends beyond impeccable customer service – it hinges on mastering your finances. For cosy pubs, bustling restaurants, and luxurious hotels alike, financial literacy is not merely an added skill; it is the cornerstone of business growth. Without effective financial management, even the most thriving operations can falter, risking […]
Be Your Own Beer Baron: Exploring the Financial Potential of the “Revenue Share Deals”
For those harbouring dreams of entrepreneurial independence, the allure of owning a pub is undeniable. The image of bustling crowds, lively music, and happy customers enjoying your carefully curated selection of brews paints a picture of idyllic self-employment. But amidst the pints and merriment lies a crucial question: is it a financially sound venture? Enter […]
Navigating the Upcoming Changes To The Holiday Pay Landscape
Introduction: As the employment landscape evolves, so do the regulations surrounding compensation, including holiday pay. One significant development in this realm is the re-introduction of the 12.07% holiday pay rule, and even better the simplification of this in tandem with rolled-up holiday pay. In the past, employees patiently accrued holiday pay for every hour worked, […]
Beyond the Books: Unlocking Profitability in Hotel Finances
Running a successful hotel involves more than just managing the books; it requires a strategic approach to financial management that goes beyond the traditional accounting functions. In this article, we’ll explore how hoteliers can unlock profitability by adopting a comprehensive financial strategy that encompasses various key aspects of the business. Strategic Budgeting: While budgeting is […]
Xero for Hospitality: Streamlining Finances for Pubs and Restaurants
In the fast-paced and dynamic world of hospitality, efficient financial management is the backbone of success. As technology continues to evolve, businesses in the pub and restaurant industry are turning to innovative solutions to streamline their finances. One such powerful tool gaining widespread popularity is Xero, an advanced cloud-based accounting software. In this article, we’ll […]
Navigating Success: Unlocking Key Performance Indicators (KPIs) for Hospitality Businesses
In the dynamic realm of hospitality, understanding and leveraging Key Performance Indicators (KPIs) is crucial for steering your business towards success. Carroll Accountants offers a specialised KPI review service, tailored specifically for businesses in the hospitality sector, including pubs, bars, and restaurants. Let us explore how monitoring these vital metrics can be a game-changer for […]
Choosing Your Business Structure: Limited Company vs Sole Trader – Evaluating Pros and Cons
Embarking on the entrepreneurial journey demands crucial decisions, and among them is selecting the right business structure. Two prevalent options are operating as a limited company or as a sole trader. Each structure comes with its own set of advantages and disadvantages. Let’s delve into the pros and cons of both to help you make […]
