The Chancellor’s “Eat Out To Help Out” Initiative And VAT Cuts for the Hospitality Sector

  • RNS

BigDish Plc

(BigDish” or the Company”)

BigDish Plc (LON: DISH), a food technology company that operates a technology platform for restaurants, is pleased to announce a response to yesterday’s initiatives to support the restaurant and hospitality industry in the United Kingdom that were announced by Chancellor Rishi Sunak.

Highlights:

  • “Eat Out to Help Out” – government funded time based discounts during August
  • VAT Reduced to 5%
  • What the measures mean for BigDish – a unique window of opportunity

“Eat Out To Help Out”

Yesterday, Chancellor Rishi Sunak announced that diners will receive a 50% discount off their restaurant bill during the month of August. This amounts to up to £10 per head between Monday and Wednesday during the month of August. 

VAT Reduction

A VAT reduction from 20% to 5% has also been unveiled to support the hospitality sector for the next six months.

What The Measures Mean For BigDish

Earlier this week BigDish provided a comprehensive update to the market with regards to how the Company is adapting its technology platform and business model in response to the challenges facing the restaurant sector.  The latest Government initiative with “Eat Out To Help Out” and the VAT reduction are, in the Company’s opinion, the right incentives to kickstart the hospitality sector back to life after several months of closure. This can only accelerate the speed at which restaurants reopen and encourage diners to return.

The new Software-as-a-Service (“SaaS”) model, including a more flexible BigDish reservation platform that includes dynamic pricing functionality, alongside Government funded discounts, creates a potentially interesting scenario for the Company where there is a unique window of opportunity to onboard restaurants to BigDish in order to market the government funded discounted restaurant tables.  If successful, this would provide the opportunity for BigDish to develop the relationship further with any newly acquired restaurants beyond the month of August to use its flexible reservation platform and to introduce BIgDish-to-GO.

Aidan Bishop, Founding Director, commented:

BigDish is naturally delighted to see the Government intervening to jolt the restaurant industry back to life by incentivising diners to come back to restaurants.  The Company will update the market in due course with regards to how the government initiatives have benefited the BigDish platform.

Enquiries:

Zak Mir, Digital Communications Officer, BigDish +44 (0) 7867 527659
  zak@bigdish.com
   
Jonathan Morley-Kirk, Non-Executive Chairman jmk@bigdish.com
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