The impact of Freedom Day

On the 5th July, Prime Minister Boris Johnson made a long-awaited announcement on the further easing of restrictions and the continuation of the roadmap out of lockdown. The PM announced that all legal limits on contact are set to be removed on 19th July – dubbed ‘Freedom Day’ by the public – including the removal of social distancing, no legal limits on indoor or outdoor gatherings and no capped capacities for venues within the hospitality sector. Following this announcement, Kings Business examines what this will mean for the licensed, leisure and retail industries.

Licensed and leisure sectors look set to return to pre-pandemic normality, without restrictions on the number of customers and guests inside venues. Removing these restrictions will offer more opportunities for speculative visits as the absence of queues and table service combined with the vaccine rollout will entice more customers to return. This increased confidence will allow businesses to run at their maximum capacities.

Additionally, on 6th July, Health Secretary Sajid Javid announced that those who have received both Covid-19 vaccinations would no longer need to isolate after coming into contact with someone who has tested positive. The relaxation of this particular rule will provide relief to customers and vendors alike who have been worried about spending 10 days in isolation after briefly encountering someone who has Covid-19 and will lead to a further rise in custom.

With staycation bookings surging by 300% this year, the hospitality sector is welcoming the removal of restrictions to allow more guests into their venues. Guest houses and hotel have become a first choice for many UK residents, with many citizens uncertain about travelling abroad and instead choosing to remain in the UK. The UK’s holiday industry, as a whole, will benefit from this staycation boom.

Operating at full capacity will significantly benefit the profitability of licensed, leisure and retail businesses, with the relaxation of compulsory mask-wearing set to increase footfall for retail stores. Due to reduced capacity and repeat mask-wearing, retail stores have been awaiting Freedom Day to entice shoppers back into their stores. Sales in the sector are expected to rise quickly in a similar manner to 12th April, which saw the re-opening of non-essential retail.

In anticipation of the easing of restrictions, Kings Business has seen a notable increase of buyer enquiries for the licensed, leisure and retail sectors, with enquiries set to continue to surge. Kings Business is an expert broker and can advise you on the next steps for your business, whether that be putting your business on the market or working closely with you to create a bespoke business plan. For more information on our services, please contact our industry-leading experts on 01772 775 775.