PwC warns businesses to prepare for smoking ban
Businesses that are not ready could take revenue hit
Businesses that are not ready for the
new smoking ban
legislation could face a major reduction in their revenues, PwC has warned
The firm said the scale of the impact would vary for different types of
businesses but for the companies most affected, such as
bingo
halls, a revenue decline of up to 15% is possible with many taking more than
three years to recover to pre-ban revenue levels.
It also warned of longer periods of hardship and potential closures for those
who do not plan ahead.
David Trunkfield, head of leisure strategy at the firm said: ‘We have seen
smoking prevalence ranging from 20% of customers to over 50%. But the big issue
is how those smokers might alter their behaviour after the ban and the knock-on
effect that might have on revenues and profit.’
Further reading:
Bingo halls wait on tax break to offset smoking ban
Robert Dyrbus, finance director of Imperial Tobacco