Mike's Minute: Look further than the headline

Best of Business · Sep 2, 2026 · 2m · transcript

Here's the headline: "3000 hospitality businesses close in a year".

That’s what the media not only does, but loves. They would perceive it as bad news and they can't pedal bad news enough.

But in the numbers are the real story.

The 3000 is made up of closures and liquidations. A closure can mean nothing more than a person leaving the country or closing one establishment to open another. That happens all the time.

It's not a sign of anything other than mood or inspiration.

It's important to also remember that there are more openings than closures. That’s the real story, so in essence the…