Steve Haslam blog: pubcos not to blame for woes
Steve Haslam — multiple Enterprise lessee at the Cutter Inn, Ely and the new White Horse at Ramsden Heath — says pubcos aren't to blame for all our woes.
I am Steve Haslam, serial entrepreneur. I am 43 years old, I have a wife and three kids and I'm the man who has never had a pay cheque. All of my companies have been connected to the industry, since my first at 16.
Now the introductions are done, I'm also the very proud lessee of the award winning Cutter Inn, Ely and the White Horse at Ramsden Heath.
As I say, I've always been connected in one way, shape or form, but three years ago, almost to the day I stumbled over the Cutter Inn. I would like for this to lead me into my first foray of blogging.
The molten hot topic at present has to be the tie, the rents ,the general skulduggery of the vultures they call the pubco. Well, sorry to disappoint, I'm the "Billy No Mates" in the other camp.
The pubco model, as everyone refers to it, is dominated by two big players built predominately on acquisitions over a fairly short period. The majority of this time they have been riding the crest of a boom.
How times have changed. What we all have to remember, however, is we were also responsible for jumping on that bandwagon. Take a pub being offered by said pubcos, open the doors, make lots of dosh, happy days. What I can't get my head around is now almost everyone blames the pubcos.
Unless we are all comatose, economies do change and we as business people have to adjust to this. I still can't find the clause in my contract that said if the economy changes, we at the pubco will move the goalposts to make sure good or bad lessees are financially compensated for such events.
Pubco support
We are independent operators, entrepreneurs. We are responsible for our businesses in good times and bad.
Is it prudent for the pubcos to sit back and do nothing? No, that's why a certain amount of support is being offered. Do many perceive this as being enough? No. Reality check — the pubcos, like us have their own business to run and not making a profit is not an option. They, like us, have debts which have to be repaid.
Will changes to their business world happen? I think the answer is probably yes. But unlike the banks, the Government has not written a blank cheque to support our industry.
They have just increased our tax levels for an extra kick in the proverbials.
Whilst I will never deny it's tough out there, we must regroup, reshape and move forward. But the industry will survive and I think be better for it.
Energy should be spent improving and focusing on our businesses. Some will be lost, but that's in the main down to the economy, which we have no control over.
So let's knuckle down, best foot forward and work towards a brighter future.
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