Just Eat launches Inflation Support Package to aid small businesses with inflationary pressures
Just Eat will launch a £1million support fund, allowing eligible Restaurant Partners to access support to help cash flow and investment support;
Restaurants are facing ongoing challenges following Covid19 pandemic, inflation and food shortages in the UK;
The package strengthens Just Eat's commitment to support restaurants through increasingly challenging economic conditions.
Today Just Eat has announced the launch of a £1million financial support package for its small, independent, Restaurant Partners, designed to help businesses as they navigate rising inflation. The package, named “Just Eat’s Restaurant Partner price inflation support”, is now available for eligible independent Restaurant Partners across the UK.
Restaurants have faced ongoing challenges following the Covid19 pandemic as they were one of the hardest hit sectors with multiple lockdowns and restrictions. Now inflation and continuing food shortages are further contributing to increasingly challenging economic conditions for small independent food businesses to operate in.
Just Eat has consolidated a package of measures offering marketing and financial support for its Restaurant Partners to access. The package can be used for additional advertising, to help boost orders or to provide financial support on the Just Eat platform.
Alongside this £1million fund, the package for Restaurant Partners includes:
Access to fast funding with flexible repayments, via embedded finance provider, YouLend,* with whom Just Eat has partnered to deliver financing at market leading terms. This will provide restaurants with support towards helping with cash flow or investing in growth, purchasing new equipment, recruiting more staff or leasing a new site;
Working with partner Booker to offer all Just Eat restaurants cashback on their supply purchases, for example a spend of £500 a week earns 5 percent cashback for restaurants. Just Eat was able to give a whopping £9.3 million cashback to restaurants last year through this partnership;
Provision of 1000 discounted pedal bikes to restaurants who make their own deliveries to provide a cheaper alternative to fuel deliveries.
Andrew Kenny, UK Managing Director at Just Eat, said: “Just Eat is only successful if our Restaurant Partners are successful. Our Restaurant Partners are facing an increasingly tough economic climate - Brexit has reduced the supply of staff and delivery drivers, multiple Covid lockdowns forced the closure of dine-in businesses, and inflation has now put upward pressure on prices, as well as on customers' wallets. Supporting our independent Restaurant Partners is a key priority for us. We hope that this financial package will provide them with the support they need during what is a challenging time for them to operate.”
Jakob Pethick, Chief Commercial Officer at YouLend adds: ”Supporting businesses through uncertain times is core to YouLend's mission. Flexible financing can help restaurants stabilise their cash flow, freeing up time to focus on the challenges and opportunities ahead. We are therefore pleased to partner with Just Eat to support their Restaurant Partners.”