The number of young pub owners has risen by a quarter since 2012, according to a new survey.
Barclays reports an upsurge in pub and bar owners sged between 25 and 34. And more than one in four North West pubs are solely owned by a female landlady.
It’s great to see optimism for growth within this sector. Beyond the headlines of pub closures, turnover growth and a rise of new businesses is encouraging.
Barclays says there are encouraging signs of growth for the UK pub industry which has seen a rise in turnover and injection of new owners in the last three years.
The research, which looks at the number of Barclays’ business customers in the Pubs and Bars industry, reveals just under half of these pub businesses were established in the last three years, boosted in part by the number of younger landlords entering the industry.
The findings reveal the amount of pub and bar owners aged 25 to 34 has increased by a quarter in the last three years and now account for15 per cent of total pubs on average.
The industry has also seen a 23 per cent growth in turnover on average, showing that existing businesses are benefitting from strong levels of consumer spending.
This growth is despite official industry figures which show a decline in the total number of small and medium sized pubs in the UK in the last three years.
The research also found over half of public houses are run by at least one female landlady and over a quarter have a sole female owner. Women also form a significant proportion of the young up-and-coming pub owners contributing to the industry boom, with 32 per cent of landlords under the age of 35 being female.
Michael Hartig, managing director at Barclays in the North West said: “It’s been long-reported that this is an industry met by challenges for pub owners, however our research shows that this has not deterred the next generation of ‘pub innovators’ from setting up shop.
“It’s great to see optimism for growth within this sector. Beyond the headlines of pub closures, turnover growth and a rise of new businesses is encouraging.
“There are also a large number of establishments that have managed to sustain and grow their business in the last decade,.”