Bruno Nunes, a prominent Swansea bar owner, is sounding the alarm on the soaring business costs in Wales compared to England. He voices deep concerns over the future of the hospitality industry, citing razor-thin profit margins and looming expenses that could reach a staggering £160,000. These burdens, he says, threaten the vitality of local businesses and put promising projects on hold.
Bruno’s passionate plea highlights the deep disparities in business rates between Wales and England. He explains, “In Wales, it’s more expensive. The system’s unfair—bars assessed on turnover while retail is on rent value. The days of large profit margins are long gone.”
He further criticises the lack of understanding from the Welsh Government, pointing out that their explanations leave much to be desired. Recent announcements by the UK Government promise business rate discounts for pubs in England, but with business rates devolved, it’s up to Wales to decide how to utilise this funding. Meanwhile, Bruno’s ventures in Swansea’s Wind Street, like his planned venue Bella, remain in limbo.
The cost-of-living crisis is also hitting hard, with customers who once frequented bars weekly now cutting back to monthly visits. Bruno underscores the cascading effect of this trend, noting, “Shopping bills and utility costs have surged, forcing people to rein in their social outings.”
Despite his concerns, Bruno remains cautiously optimistic about Swansea’s regeneration. Still, he questions, “What’s being done about business rates in Wales?” His call for change is a wake-up call for policymakers to reassess the burdens shouldered by local businesses.
In response, the Welsh Government maintains they’ve offered over £1bn in support since 2020 and that many pubs still benefit from rate relief. However, for business owners like Bruno, the question remains: Is it enough to secure a thriving future for Welsh hospitality?