by Morgan Keating, Specialist Relationship Manager, Hospitality Allica Bank
With 2026 underway, many businesses are taking stock – reviewing systems, finances and plans to ensure they’re ready for the year ahead. With costs up and consumers tightening their belts, there’s still a strong appetite across the sector to grow teams, expand services and gear up for a successful year.
So how can events businesses position themselves for success in 2026? One crucial piece of the puzzle is good business banking.
We sat down with Morgan Keating, hospitality sector specialist at Allica Bank, to find out more.
Demand remains strong, yet many businesses still struggle to access finance – why?
“I speak to events businesses across the country and there’s huge ambition for growth out there. Many of those I speak to, however, tell me they aren’t getting the support they need from their bank.
“In fact, research undertaken by my own team at Allica Bank reveals that lending to hospitality businesses has been flat since 2016. Had it followed historic patterns, the sector would have around 23% more funding today – funding that could support innovation, growth and expansion.
Instead, many business banks have turned away from the established businesses of between 5 and 250 employees who generate a third of GDP and a third of employment in the UK, focusing instead on the narrow, corporate end of the market.
“This means hundreds of established businesses holding back on investment, hiring and innovation. It doesn’t have to be this way. A range of challengers including Allica Bank are bringing back proper business banking. We recently worked with one business, for example, that had waited two months for a refinancing decision from a high-street bank. We were able to offer credit-backed terms within a week.”
What advice would you give established businesses looking to access business banking support?
“Choosing the right banking partner is paramount.
“Switching banks can unlock better returns on cash, access to relationship-led advice and finance structured around real trading patterns. At Allica, we’ve brought relationship-driven business banking back and this is having a real impact on Britain’s established businesses.
A report by Oxford Economics into Allica’s lending revealed that for every £1 million we lend to an established business, it generates £2.4 million in GDP, 35 jobs and £600,000 in tax revenue. It means in 2024 alone we unlocked £5.8 billion in GDP.
“To make it easier to secure the borrowing needed to invest, business owners should focus on keeping clear records, understanding business plans and demonstrating how funding will generate returns. Know your numbers and build a strong business case – then work with a bank that listens and understands the sector.”
Technology is transforming how businesses operate. How is Allica helping businesses to thrive in an ever-changing landscape, and how do you bring that to life in your processes?
“Technology is at the forefront of what we do. We’ve built a new kind of business bank that brings together a real relationship-driven approach that used to define business banking, but powered by the tech needed to make business easier.
“By doing this, we’re empowering established business owners with tools built specifically for them, including bank account and accounting software integration and expense cards for team members.
“When it comes to borrowing, technology also helps us deliver faster, more efficient decisions by automating complex tasks behind the scenes, allowing our teams to focus on the human relationships that matter most.”
