NYC Adds Dining Out Tax in an Effort to Help Restaurants
Small business restaurants have been particularly hard hit by COVID’s lockdown measures. In NYC, a COVID hotspot, restaurants have only recently reopened to limited capacity. As the weather cools and outdoor dining becomes more difficult, restaurants face continued revenue obstacles. According to Food & Wine, the city aims to combat this economic hardship by allowing restaurants, excluding chains and food trucks, to enact a temporary 10% surcharge.
On this Business Casual segment, Daniel Litwin and Tyler Kern consider the cost this tax passes on to the consumer. At least some customer dissatisfaction is inevitable, so who will take the brunt of it; employees or owners? Litwin and Kern brainstorm ways to increase revenue without increasing prices.
KEY POINTS:
- In mid-July, Yelp data showed close to 16,000 restaurants nationwide closed permanently due to the pandemic.
- NYC approves restaurant tax to help struggling dining establishments mid-COVID.
- Restaurant customers in NYC face up to a 10% surcharge on bills.
For the latest news, videos, and podcasts in the Food & Beverage Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!
Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale
Latest
Mark Tina Envisions Differences to the Verizon Partner Network in 2024
In the dynamic telecommunications landscape, Verizon’s Partner Network continues to evolve, adapting to new trends and opportunities. For another segment featuring Mark Tina, VP of Indirect Channel Distribution and Channel Chief at Verizon Business Group, he explores exactly what types of significant changes and advancements the Verizon Partner Network will see in 2024. In this […]
Mark Tina Explores the Importance of Partners in Verizon Business Group Success
A special episode of The Verizon Partner Network focuses on an examination of an industry marked by fierce competition and rapid innovation. But most importantly, how the role of partnerships in a company’s success is increasingly vital. Mark Tina, the VP of Indirect Channel Distribution and Channel Chief at Verizon, details why partners are essential […]
Mark Tina Highlights Three Pillars of Success in Verizon’s Partner Network
For a continuation episode of The Verizon Partner Network’s special segment with team leaders, Mark Tina, VP of Indirect Channel Distribution and Channel Chief at Verizon Business Group, joined again to outline the three top aspects that define the Verizon Partner Network and its approach to collaborative success. The video centers on Tina’s explanation of […]
