Bleak outlook: almost half of hospitality entrepreneurs sometimes think about quitting
Enough to make you feel down: a study conducted by the Chamber of Commerce has produced figures showing that almost half of hospitality entrepreneurs sometimes think about giving up their hospitality business. It would make us sad if that were to happen; for some entrepreneurs, this is their life’s work, which they would have to say goodbye to…
The figures are based on estimates of averages; in September, the Chamber of Commerce surveyed almost 2,000 entrepreneurs, around 80 of whom were from the hospitality sector. This means the figures do not directly reflect sentiment within the sector, but according to hospitality trade magazine Misset Horeca, they do provide an indication.
Higher than in other sectors
Of all the entrepreneurs who took part in the study, around one third say they sometimes think about quitting, but among the hospitality entrepreneurs surveyed, that percentage is much higher: almost 47 percent. Based on current estimates, more than one third consider it likely or even certain that they will stop.
Feeling down
A large proportion of this group of entrepreneurs are also not doing well personally. When asked how well or badly they themselves are doing, 26 percent gave a 5 or lower. Of all entrepreneurs who answered the question about how they are doing and rated their situation with an 8 or higher, only 39 percent were hospitality entrepreneurs (compared with an average of 57 percent).
What the future holds
They rate their future prospects at 6.7. The average for entrepreneurs is 7.4. Almost half of all entrepreneurs surveyed indicate that the negative impact of coronavirus on their own business is substantial. But here too, there is a sad outlier in the hospitality sector: 78 percent there say that the negative impact is substantial.
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- Hospitality businesses attract new staff with higher salaries and better schedules
- Staff meals in hospitality: there is a lot of suffering
Source: Misset Horeca
