Could a loan consolidation amount help pubs with their poor cash flow?

consolidationMany people these days have a desire to run a pub in a beautiful area as it combines the experience of creativity and a social outlet for customers and friends. However, the competition in this market is high and it can be difficult competing against the larger bars, who offer cheap drinks and food in the cities capitals to a wider audience. However it can be done and pub landlords throughout the world have proved this. A good stream of cash will certainly be needed and this will come from several sources. Debt consolidation can often be an option for pubs that are suffering the pinch from lack of cash flow. In this article we will look at how this method can help a pub business.

Not having a keen sense of your incomings and outgoings can be one of the main reasons why problems arise in a business. Creating a cash flow forecast will allow you to see when there may be peaks and troffs and when a cash crisis may arise. Several overdrafts may be needed in order to run a pub effectively and these may also need a specific solution to pay them off when the time comes. Loan consolidation is a solution that can help and offers a way of paying off debt with a loan that can offer either a lower interest rate or a fixed interest rate.

Those that wish to take engage in a loan consolidation agreement and other forms of overdrafts will almost certainly need a cash flow plan. These are achieved by gathering all data that hold information concerning funds transfers, such as receipts, open and closing bank balances and all other payments. Landlords should keep a keen an eye on all these details in order to have the best possible overview and understanding of the business that has been created.

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10 Oct 2013

Why are so many pubs closing down?

The economic climate in Britain has been steadily improving ever since the Financial Crisis of 2007, however, that does not mean that the British people have had it easy. That is to say that a new phenomenon, namely a substantial increase in pub closure, is spreading throughout British villages, towns and cities, leaving in its wake a lot of unhappy people. In the following paragraphs, we will try to find the answer to the hotly debated question, "Why are so many of our pubs being closed down?"pub

It is widely accepted that the repercussions of the Financial Crisis have yet to pass. Even though the economy is slowly recuperating after the crisis, many sectors have not seen an improvement at all. For one, consumer behaviour has been greatly influenced for the worse, and people are less and less willing to spend money in pubs, if at all! As a result, the only customers most pubs get are those who are either loyal customers or with a very high income.

Not only are customers not going as often as before, but also the cost of rent has increased throughout Britain. Again, this can be regarded as a direct consequence of the crisis, but that does not circumvent the fact that many pub owners are barely making ends meet.

The previous reasons, however, are not the main culprit, which has been eating away the pub owner’s chance of making a profit for several years now- the price increase. Many, who have remember the pre-crisis prices, can tell you that in the years before, the prices were a lot lower than they are now; so, it is no wonder that the pub owners who have to buy expensive alcohol and general supplies, and who have to pay their workers are finding it difficult to do so.

In short, there are many problems that have lead to the increased pub closure rate, and no single one can be blamed above the others. However, there is light in the tunnel as economists continue to claim. In the following years, the British economy is expected begin picking up speed, which will definitely give pub owners a reason for celebration!

11 Sep 2013