Jamie Simmonds, who owns the iconic live music venue The Bearded Lady in West End, said the bar has been on the brink of collapse as costs skyrocket. “This is the worst it has ever been,” he said. “Everything has kept going up and up; people chasing money left, right and centre. “And it’s just got to a crunch where we didn’t have a choice if we want to keep the place going but to ask for help.” The GoFundMe page has already raised $5500 of its $200,000 goal. The 120-capacity bar has hosted some of Australia’s best bands and has become a launching pad for local Brisbane artists. Mr Simmonds said the venue employs a number of staff and would hate for the venue to be forced to close. “It’s really, really hard,” he said. “The disappointing thing about this whole crisis that’s going on at the moment is that hospitality and the arts employ more people than any other industry in Australia, but we are the least funded.” He said that venue owners everywhere in Australia are being hit hard by the economic crisis and called on the government to make changes – especially when it comes to the tax on alcohol. “Instead of charging the likes of other countries where they charge, you know, $5 a schooner, we’re having to charge like $12 or $15. It’s crazy,” he said. “Australia should be in a position now where we should all be sitting very comfortably, we shouldn’t be paying as much tax but unfortunately we’re just getting screwed over. We are getting used.” In January, data from ASIC showed insolvencies in the hospitality industry have increased by 70.2 per cent year on year as a result of the cost-of-living crisis. The number of hospitality businesses that faced insolvencies in the current financial year rose to 1312, compared to 771 last year. At the time, Australian Hotels Association chief executive Stephen Ferguson said businesses were struggling more than ever. “There’s only so much you can put the price of a schnitzel up, as people will stay at home and cook one themselves. It’s a challenging balance between providing something that is affordable and also will allow you to pay the bills,” she said. “Businesses are being hammered by the cost of operating a venue despite revenue doing OK. It is all those input costs that add up, such as food, beverages, excise, energy and insurance. All this pressure is making it harder for many to survive.”