Long-term support is vital for business
Friday, 5th March 2021
• MARBLE Arch Business Improvement District is home to over 200 businesses across the hospitality, events, retail and leisure industry, including large names such as Hilton Metropole and The Marriott, to small independent food and beverage outlets.
We welcome the added financial support for businesses announced by the chancellor in the Budget, including the new business grant scheme, furlough extension, cultural recovery fund, VAT cut and business rates holiday.
However this remains a critical period for businesses and the government must continue to provide economic support for as long as it takes to get operators back on their feet.
The road map out of lockdown has offered some clarity for retailers, hospitality and leisure businesses to prepare for reopening; but long-term government support is vital to aiding their full recovery.
The hotel and hospitality venues in the Marble Arch district generate £45million of spend locally and make a huge contribution to central London’s overall hospitality provision, with 3,000 bedrooms and over 10,000 sq m of meeting and event space.
Government support will be critical to kick-starting the recovery of our tourism, conferences and events industries, and we would like to see more clarity on when international travel can return to normal as this is fundamental for the revival of these businesses.
As a BID we will continue to advocate on behalf of all our members, allowing them to once again offer the excellent, world-class service and choice in this key London district, which links the buzz of the West End with the tranquillity of our much-loved parks and green spaces.
KAY BUXTON
Chief Executive
Marble Arch London
Business Improvement District