There’s no question that the bar industry in Australia is really doing it tough right now. Following the forced closure of all hospitality venues across Australia in mid-March, bars have gradually begun reopening, state by state, in recent weeks. However, after more than two months without income and with many employers unable to access the government’s Jobkeeper fund, the economic fallout is still a huge issue for bar owners.
Today, Australia’s globally recognised rum brand, Bundaberg, has announced an injection of $11.5 million into the sector to help the bar industry across the country rebuild. The ‘Raising the Bar’ fund will be accessible to any licensed venue in Australia, whether they are a country pub or an inner-city cocktail lounge. Over the next two years, this infusion of cash will support job creation, debt recovery and innovation projects that help future proof the hospitality industry.
Angus McPherson, the managing director of Bundaberg’s parent company, Diageo, acknowledged that without a thriving bar scene, brands like Bundaberg were also hard hit. “The economic impact on the industry has been unprecedented,” he said. “Many in the hospitality industry are small businesses that employ thousands across the country, and as we start to recover and rebuild, Bundaberg Rum wants to stand by their side and support them in getting back on their feet, just like any Australian would do for a mate.”
Bundaberg’s ‘Raising the Bar’ program is one component of a global effort from Diageo, which intends on investing USD$100 million in similar programs around the world, supporting hospitality venues as international economies navigate the slow road to recovery.