Bournemouth Coastal BID issue stark warning about rising energy costs

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TBM Team

The Bournemouth Coastal BID has warned that rising energy costs could force businesses to close and undermine the town's tourism industry irreparably.

With the summer coming to an end and winter fast approaching, the rising expenses could create a "perfect storm" that might strike some industries even more than the Covid-19 lockdowns did.

The Coastal BID represents businesses from Southbourne to Westbourne, a region dominated by the hospitality and retail industries. It is now pressing the government to intervene or face crumbling businesses and rising unemployment.

Naturally, their focus is on Bournemouth but they make the point that this is a far wider issue which could see incredible damage to the economy and thousands of business go under.

The Bournemouth Coastal BID chairman Paul Clarke, who also runs a hotel business, had this to say about the issue: “Just as we were starting to get back to normal after the Covid lockdowns we are faced with something more damaging to business. Energy costs have spiralled and are now so great they simply wipe out profits and make businesses unsustainable."

“We are seeing pubs close daily and retail and hospitality businesses are teetering on the edge of a debt-created precipice. It is especially hard on hospitality and retailers because they were so affected in the town throughout the pandemic. During the lockdowns they were assisted by targeted government interventions. Help is required now for all businesses.

“We are coming out of the summer season and energy use will rise as temperatures dip – it is a perfect storm. Businesses are seeing energy costs rise by tens – or even hundreds – of thousands of pounds. It is totally unsustainable. With other BIDs we are actively lobbying the government to do something now. After all it is in their interests to have viable businesses paying taxes."

“We urge the new Prime Minister to make this their number one priority or we could be facing a winter of disconnecting. The government must also look at a long term solution enabling us to be energy self-sufficient.”

TBM Team