Inside Track by Peter Martin
The summer vacation can’t come quickly enough for many of this sector’s bosses.
It’s been a bruising old year so far, especially on the political front. An escape from the assaults on smoking, binge drinking, licensing, obesity, the healthiness of kids’ menus and a trade and industry select committee inquisition over pubco tenancy agreements will come as welcome relief.
But don’t despair; others feel your pain. You are not alone in believing that business is getting more and more difficult.
A new survey by KPMG shows that life is getting tougher for those leading the country’s mid-sized businesses, those turning over less than £500m, both private and public, no matter what sector they are in.
Almost 60% of senior execs surveyed didn’t think they would be able to retire as early as they had intended five years ago, and a third didn’t think they would be able to provide effectively for their long-term financial security.
Another survey, by the Economist Intelligence Unit, found that over 40% of bosses were concerned about complying with red tape and regulations, while almost 60% thought corporate governance was being driven by government rather than business best practice.
OK, it’s arguable if this realisation is actually going to make you feel better or worse.
But surely the news this week that beer, pub and restaurant industry old-hand Miles Templeman has been appointed the new director-general of the Institute of Directors should bring a cheer?
With the problems everybody else is having, it probably means that Miles won’t be giving special attention to the hospitality sector he knows so well. But it should nevertheless be encouraging that the industry can produce talented executives who can make it in any arena.
That’s at least something positive to think about during the two weeks on the beach, or just focus on those that have been able to walk away from exit deals in recent months with a few bob in their pockets.
Enjoy the break….please.
o If you want a stimulating holiday read, there’s always the industry standard by perhaps the sector’s most successful global entrepreneur, "Pour Your Heart Into It – How Starbucks Built A Company One Cup At A Time", by the coffee chain’s charismatic founder Howard Schultz. You can get a free copy if you book your place at this October’s Restaurant Conference before August 20th. Call 01293 610282.
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