It is difficult to ignore that there were a significant amount of closings in the hospitality sector by the end of 2023. These may be down to a number of factors, such as rising rents and the reinstatement of the Hospitality and Tourism VAT rate to 13.5% from 9% (which we’re sure hasn’t helped any small or medium business!).
According to Una Mullally in the Irish Times, it is not just badly managed or badly marketed food businesses that are closing during this period but “excellent places are also closing, and more will fall” (Jan 8, 2024). Mullally predicts that this could be due to the Revenue deadline set for paying back tax debt, which is looming for May 1st 2024. Many hospitality businesses had to avail of this ‘lock-down lifeline’ tax exemption offered by Revenue during the COVID pandemic in order to just keep their businesses afloat.
We’re hoping these predictions don’t come to pass so we’re keen to highlight that there’s been some BRAND NEW openings in Waterford City and County over the last couple of months, check out our ‘Recently Updated’ List…
Open For Business
We are certain these new business owners will be glad to see you so do your best to support them- browse their websites, check out their food offerings, and book a table. Follow them on their socials too for updates, news and opening hours etc..
NOTE: If you are set to open a new food business, due to launch a food product or know of any other new business openings; please drop us an email and we’ll update and add to this article: firstname.lastname@example.org
WE’RE ALWAYS HAPPY TO SHARE ANY GOOD FOOD NEWS!