One of the downsides to running a pub is that the accounting side of things is fairly complex. This has, of course, been the downfall of a number of former footballers and rock stars. Well, that and drinking all the profits.
Greene King (producers of such fine beers as Abbot Ale and Greene King IPA) have offered an 'open-book' accounting system for four years, but have recently relaunched it to include more local accountants.
The aim, in the words of Commercial director for Pub Partners, Sue Thomas-Taylor, is to provide "...professional financial support to new licensees helps them progress through their first year.." and thereby retain more new licensees.
However, it appears there is a sting in the tail of this otherwise worthy offering with some Greene King tenants being charged more than double the usual accountancy rates and having little choice but to comply due to contractual clauses.
While I commend Greene King and other breweries for supporting new licensees, this smacks a little of profiteering.
There are a number of very fine accountants out there who deal specifically with the licensed trade and it would be in the breweries long term interest to help their tenants find the best accountants for their needs.
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