A weekly podcast from Glasgow that brings sharp commentary and real-time reaction to the ever-evolving world of business. Hosted by two of Scotland’s most influential entrepreneurs, Sir Tom Hunter and Lord Willie Haughey.
This is a front-row seat to how global economic shifts, political turbulence, and technological disruption are impacting businesses in Scotland and beyond.
Each episode also features candid conversations with Scotland’s top CEOs, founders, and innovators, unpacking how they are navigating uncertainty, adapting to change, and seizing new opportunities.
Through a no-nonsense Scottish lens, Hunter and Haughey offer grounded insight and practical advice for anyone in business - whether you’re scaling a startup or steering a legacy brand.
Made in Glasgow. Relevant Worldwide.
Episodes
Sunday Oct 20, 2024
Sunday Oct 20, 2024
Episode Highlights and Summary Notes
[00:01:00]
Tribute to Alex Salmond
Discussion on the passing of Alex Salmond. Sir Tom shares personal anecdotes and reflections on Salmond’s career and personality.
[00:01:55]
Clean Energy Initiatives
Discussion on clean energy provisions and advancements in Germany. Mention of Scottish Power’s investment and Scotland’s potential to achieve 100% clean energy.
Introduction of Doug Duigood new division in renewable energy, creating 30 new jobs.
[00:03:45]
House of Lords Update
Lord Haughey shares insights from the House of Lords.
Discussion on corporation tax and potential changes to national insurance contributions. Concerns about the impact of tax changes on small businesses.
[00:06:00]
Air Conditioning and Energy Consumption
Discussion on the future energy demands due to increased air conditioning needs by 2050. Mention of innovative building designs to reduce energy consumption, inspired by Roman architecture.
[00:08:00]
Tech Giants and Energy Investments
Discussion on tech companies like Microsoft, Amazon, and Google investing in small nuclear communities to power data centres.
Emphasis on the importance of supply chain security and energy capacity for tech expansion.
[00:09:00]
Local Business Highlights
Mention of Robert Graham’s family business and its contributions to the local economy.
Robert Graham’s family business success:
Turnover of £153 million by March 24th.
Profits of £2.8 million, attributed to the high protein range.
£13 million investment in capital expenditure over the last two years.
Emphasis on staying ahead of the game and evolving the business.
[00:10:30]
Entrepreneur in Residence Update
Matt Logan, the entrepreneur in residence, moves on. Discussion on the impact of right-wing media. Debate on the role and compensation of the entrepreneur in residence.
Concerns about the future of the Scale up Scotland programme without Logan’s drive.
[00:13:00]
Economic Updates
Inflation drops to 1.7%, better than expected. Discussion on the potential for interest rate reductions.
Speculation on the normalised interest rate for the next decade being around 4%.
Explanation of the pound’s devaluation due to expected interest rate cuts.
[00:14:30]
Innovative Heating Solutions
Introduction of a pilot project for electric wallpaper in social housing. Explanation of how electric wallpaper works, likely using infrared technology. Curiosity about the effectiveness and implementation of this new technology.
[00:15:00]
Scotland’s Visa System and Demographics
Discussion on the potential for Scotland to have a different visa system due to its unique demographics. Scotland needs positive immigration to support its aging population.
Ed Miliband’s proposal for a skills passport to help oil and gas workers transition to renewables.
Debate on the political implications and narrow-minded views on devolving more powers to Scotland.
[00:16:30]
Collaboration Between Holyrood and Westminster
Emphasis on the importance of cooperation between Holyrood and Westminster. Positive remarks on Ed Miliband’s statement about working together. The need for balanced criticism and praise of government actions.
[00:17:25]
Scale Up Scotland 2.0 Recruitment
Recruitment for Scale Up Scotland 2.0. Programme details: for ambitious businesses with over £10 million in turnover.
Quarterly meetings at Blair Castle with successful entrepreneurs sharing their experiences. Emphasis on peer-to-peer support as the “silver bullet” for growth.
[00:19:00]
Investment in Scottish Businesses
Discussion on the importance of investment for business growth. Mention of a recent investor meeting in London with a commitment of £62 billion. Desire for more investment in scale-up businesses across the country.
[00:20:00]
Challenges in the Salmon Fishing Industry
Follow-up on a previous guest discussing omega-3 and salmon fishing. Highlighting funding challenges in the industry. Upcoming meeting with Jason McGibbon from Bridgepoint to address roadblocks in Scotland.
Special Guest: Willie Patterson, Chief Executive of Asset Alliance Group
Willie Patterson shares his childhood experiences.
Grew up with hardworking parents; father was an intellectual from a working-class background, mother was a farmer’s daughter. Developed a strong work ethic from a young age.
Career Beginnings
Willie discusses his decision to join the Clydesdale Bank instead of going to university. Offered a job by a local bank manager. Worked at the bank for five years, gaining valuable experience and motivation.
Transition to Entrepreneurship
Willie shares his long-term goal of starting his own business. Decided to leave the bank after five years to pursue his entrepreneurial ambitions.
Transition to Asset Alliance Group
Willie Patterson discusses his journey into the trailer rental business.
Partnered with Alan Evans to refurbish and rent out used trailers.
Invested £10 million, creating a fast-growing trailer rental business.
Joined the company as a commercial director but had reservations about the move.
Move to Alliance & Leicester
Willie was introduced to the managing director of Alliance & Leicester PLC.
Joined the company as they transitioned from a building society to a commercial bank. Helped restructure the business and created Alliance & Leicester Commercial Finance PLC. Built the UK’s largest truck leasing business and expanded into various finance divisions.
Founding Asset Alliance Group
Willie decided to leave Santander and proposed buying the asset finance business.
Successfully doubled profits during the financial crisis by making tough decisions quickly. Focused on supporting key clients and maintaining profitability.
Navigating Financial Challenges
Willie discusses the pressure of securing capital during the financial crisis and COVID-19. Identified opportunities with challenger banks and wealth banks. Leveraged strong business yields to secure funding.
Strategic Networking
Willie reached out to his network, including a former chief executive, to secure capital. Successfully negotiated deals with multiple banks Completed the deal within three months, ensuring business continuity.
Board You Can’t Afford
Guest: John Kipp, Owner of Power Circle Projects
Overview of Power Circle Projects
Power Circle is a social enterprise owned by Charity Power Circle Ltd. Focuses on delivering a net-zero future at scale. Addresses barriers to scaling up low-carbon investments. Aims to benefit all sections of the community, including businesses, homeowners, and low-income households.
Question: As our organisation enters a period of rapid growth, primarily with established technologies like funded solar PV and upcoming heat solutions, we are keen to learn about potential pitfalls during this phase. Specifically, we are interested in experiences related to rapid growth, challenges in team dynamics, and managing cash flow. What are some common pitfalls and effective strategies to address and overcome these challenges?
Sunday Oct 13, 2024
Sunday Oct 13, 2024
Episode Summary and Highlights:
Scotland’s Clean Energy Potential:
Discussion on Scotland’s potential to be the first country fully supplied by clean energy. Announcement of Scottish Power’s £12 billion investment in clean energy.
[1:26]
Investment and International Interest:
Information about Scottish Power’s ownership by Spanish company Iberdrola and the positive outlook on the UK as an investment destination.
Government’s Role in Clean Energy:
Praise for government efforts in reducing planning permission time and the impact on investment barriers.
[3:03]
Future of Planning and Investment:
Debate on the need for quicker planning processes and the potential benefits of reducing planning time to 12 months.
Battery Storage and Hydropower:
Discussion on an article by Mark Wilson, CEO of Intelligent Land Investments, about the benefits of battery storage and hydropower.
Consideration of inviting Mark Wilson to the show to discuss achieving net zero and 100% clean energy.
[4:06]
Heat Pumps and Job Concerns:
Addressing concerns from the Institute for Public Policy about potential job losses due to a slowdown in heat pump installations.
Emphasis on the importance of insulation as a cost-effective alternative to heat pumps.
[5:08)
Importance of Battery Storage:
Highlighting the potential of battery storage in achieving clean energy goals.
Pace of Change in Business:
Discussion on the rapid pace of change in business and the need for quicker government processes like planning permission.
[6:08]
Ferry Construction Issues:
Issues with the ferry being built in Greenock, including outdated technology and infrastructure problems.
[6:51]
Brewdog Contamination Incident:
News about Brewdog having to destroy over a million pints due to contamination, and the impact on the company.
[7:25]
Elon Musk and Driverless Taxis:
Debate on Elon Musk’s announcement of driverless taxis and the potential impact on the market.
Discussion on the feasibility and timeline of Musk’s projects and their effect on Tesla’s share price.
[11:27]
American Election and Its Impact:
Discussion on the potential impact of the American election on Scotland.
Concerns about Donald Trump’s possible re-election and Elon Musk’s influence through his social media platform.
Elon Musk’s Political Involvement:
Analysis of Musk’s support for Trump and his potential role in the government.
Discussion on Musk’s ambitions to improve government efficiency.
[13:03]
Meeting with Keir Starmer:
Willie shares his recent one-on-one meeting with Keir Starmer.
Discussion on the importance of supporting entrepreneurs and business people for economic growth.
Emphasis on the need for the government to deliver on their promises.
[15:00]
Capital Gains Tax Concerns:
Discussion on the potential changes to capital gains tax and its impact on wealth creators.
Analysis of the behavioural changes in response to tax adjustments.
[16:02]
Tax Reduction for Creative Industries:
Announcement of a 53% tax reduction for investments in films up to £15 million.
Discussion on the positive impact on the film industry in Scotland.
[17:02]
Portugal’s Tax Haven for Young People:
Discussion on Portugal’s new policy to retain young talent by offering zero income tax for the first year and reduced taxes for ten years.
People around the world are thinking better than our current government. (18:50) And it's not good enough for us. (18:52) We're in a global competition for talent.
[19:00]
Dame Anne Glogg Cleared of Charges:
Announcement that Dame Anne Glogg will face no charges and no further action regarding the long-standing investigation.
Discussion on the waste of taxpayers’ money and police time, and the stress caused to Dame Anne and her family.
Recognition of Dame Anne’s significant contributions to charity and business in Scotland.
Hunter and Haughey's special guest this week is Douglas Martin - Founder and Managing Director of Mialgae Ltd.
Douglas is a biotech entrepreneur with a strong background in commercial and financial management. Recognised as a Forbes Under 30 honouree and a Shell Young Entrepreneur awardee he brings a unique blend of business acumen and innovative thinking.
Gemma Stuart, Gut Wealth
1 in 20 people have IBS in the UK - with symptoms such as: gas, bloating, cramping, abdominal discomfort and urgency.
Gut Wealth is liquid vitamin mineral and postbiotic supplement - proven to improve bloating, inflammation and bowel regularity.
It’s sold out twice, been featured in The Times, Daily Mail, Women’s Health, Men’s Health - chosen as a high growth potential business as part of the Scottish Enterprise’s pathways to scale programme in 2023-24. Also won Medtech & Healthtech StartUp of the Year 2024
Gemma is preparing for an equity raise in Q1, and asks what advice would Hunter and Haughey give to position the business to attract the right investors who align with her mission?
Sunday Oct 06, 2024
Sunday Oct 06, 2024
This episode covers the introduction of new energy reduction systems, the importance of productivity, and the economic implications of the Commonwealth Games for Glasgow. The discussion also touches on local council services and budget challenges. Plus, the Lord Haughey's exclusive interview with Sir Alex Ferguson.
Lord Haughey and Stuart Patrick delve into the potential of green hydrogen, the challenges of electricity pricing, and the future of renewable energy jobs. We also discuss the importance of battery storage and solar panels, and the impact of regional investments in renewable energy.
Key Highlights:
[00:01:10]
Commonwealth Games Discussion
Detailed discussion on the financial commitments and benefits of hosting the Commonwealth Games in Glasgow.
[00:02:25]
Financial Implications
Further exploration of the financial aspects and the economic development benefits of the Commonwealth Games.
[00:03:23]
Local Council Services and Budget Challenges
Discussion on a recent survey showing dissatisfaction with local council services and the challenges faced by officials due to budget constraints.
Examination of various local taxes and levies, including the tourist tax, workplace parking levy, and residential parking permits.
Debate on the fairness and effectiveness of these measures in addressing budget shortfalls.
[00:09:12] Investment in Rental Housing
Discussion on the need for investment in rental housing and the impact of potential amendments to the Scottish housing bill.
Debate on rent controls and their effect on new builds and existing tenants.
Mention of the importance of affordable housing and the potential benefits of excluding new builds from rent controls.
[00:11:40]
Buchanan Galleries Restructuring
Discussion on the decision by Landsec to reconsider the restructuring of Buchanan Galleries due to changes in the retail market and construction costs.
Exploration of the potential investment in Glasgow’s city centre and the impact of retail recovery post-pandemic.
[00:13:01]
Planning Resources and Infrastructure Investment
Discussion on the need for more resources in planning departments to support large infrastructure projects.
Mention of the competition for talent between local authorities and private sector companies involved in climate change initiatives.
[00:14:29]
Apprenticeships and Job Creation
Announcement of significant investment in apprenticeships and job creation by BAE Systems, highlighting the positive impact on Glasgow’s economy.
[00:16:19] Renewable Energy Projects
Discussion on Scotland’s plans to build the largest hydrogen plant in Europe, with a £600 million project in Aberdeen.Mention of a German delegation exploring green hydrogen export opportunities.
[00:16:31]
Green Hydrogen Opportunities
Discussion on the delegation from Germany and the plans for exporting hydrogen. The main challenge highlighted is the cost due to the current electricity pricing model.
[00:17:24]
Battery Storage vs. Solar Panels
Insights into the effectiveness of battery storage compared to solar panels. Mention of a chart showing savings from sustainable housing, with a significant portion coming from battery storage.
[00:18:31]
Investment in Glasgow: Discussion on a potential huge investment near Glasgow and the opportunities it presents. GB Energy and Regional Presence: The importance of having a regional presence in places like Aberdeen and the role of GB Energy. Retirement Announcement: Announcement of Professor John McDonald’s retirement and his contributions to Glasgow.
[00:21:56]
Education and Airline Connections
The discussion highlights the critical role of the education industry and the importance of maintaining strong airline connections through the Middle East. These connections are vital for fostering international relationships and ensuring the flow of students and professionals.Emphasis is placed on the commitment to building and maintaining relationships with states in the Midwest and Middle East. This commitment is seen as essential for economic and cultural exchanges.
[00:22:13]
Financial Struggles of Football Clubs
The financial difficulties faced by Caledonian football club are discussed, highlighting the broader issue of financial instability in Scottish football. The need for substantial fundraising efforts to avoid bankruptcy is underscored. The unique challenges of running a football club as a business are explored. The discussion suggests that smaller clubs could benefit from mentoring by successful business personalities to improve their financial health and operational efficiency.
[00:23:30]
City and Football Club Success
The relationship between the success of a city and its football clubs is examined. Successful clubs are seen as enhancing the city’s reputation, attracting tourists, and contributing to the local economy.
[00:23:30]
Investments in Inverness and Glasgow
Concerns about the future of Inverness and the investments in Glasgow, including those in Rangers and Partick Thistle, are raised. The impact of these investments on the cities’ international standing is considered.
International Pitching
The role of football clubs in international city pitching efforts is discussed. Football clubs can significantly influence how cities are perceived globally, making them valuable assets in international relations and marketing.
Tourism and Reputation
Successful football clubs are credited with boosting tourism and enhancing the city’s reputation. Visitors are drawn to the city not only for the football matches but also for other attractions like museums and cultural sites.
[00:24:23]
Business Guidance for Football Clubs
The need for business guidance and mentoring for smaller football clubs is emphasized. This support is seen as crucial for strengthening Scottish football and ensuring the sustainability of smaller clubs. Collaborations with Rangers and Celtic on overseas trips for youth development are highlighted. These initiatives are part of broader efforts to foster international relations and promote the city’s image abroad.
Special Guest Sir Alex Ferguson
This week’s special guest is Alex Ferguson, one of Glasgow’s most famous sons. Sir Alex is a winner and enjoyed unparalleled success with his winning mentality at Aberdeen and Manchester United, and he shares his insights on leadership, resilience, and the business of football.
[00:28:26]
Early Leadership Qualities
Alex Ferguson discusses his early realisation of leadership qualities during his school years and apprenticeship. He shares how joining the union and becoming a shop steward at 19 helped him develop his leadership skills.
[00:28:26]
Union Involvement and Apprenticeship
Sir Alex Ferguson talks about his involvement in the engineering union and the challenges he faced as a young apprentice. He recounts the experience of balancing his apprenticeship with part-time football and the support he received from union leaders.
[00:30:27]
Transition to Full-Time Football After completing his apprenticeship, Sir Alex Ferguson decided to pursue football full-time. He reflects on his decision to leave engineering behind and focus on a career in football.
[00:30:47]:
Developing Coaching Skills
Sir Alex shares his journey of obtaining coaching badges in England and Germany. He emphasises the importance of continuous learning and preparation in his path to becoming a football manager.
Impact of Leadership in Football
The discussion highlights how Sir Alex Ferguson’s leadership qualities translated into his football career. He talks about the influence he had on teams and his determination to succeed in football management.
[00:31:49]
Life-Changing Moments
Sir Alex Ferguson recounts a pivotal moment in his life when he scored a hat trick against Rangers, which changed his career trajectory. He emphasizes the importance of seizing opportunities and making decisive choices.
[00:33:21]
Entrepreneurial Ventures
Sir Alex discusses his venture into entrepreneurship by owning a pub. He explains how this experience, combined with his part-time football career, shaped his managerial ambitions.
[00:34:36]
First Managerial Experience
Shares his first experience as a manager, dealing with limited resources and building a team from free transfers. He highlights the importance of strategic thinking and resourcefulness in management.
[00:35:58]
Transition to Aberdeen
The conversation touches on the move to Aberdeen and his thoughts on the importance of perseverance and long-term vision for young players and managers. Sir Alex reflects on key moments that influenced his career, such as deciding not to emigrate to Canada and scoring a hat trick against Rangers. These moments reinforced his commitment to football and leadership.
Building a Football Club
Discusses the importance of bringing out the best in oneself. Reflects on his career as a player and the challenges faced. Emphasises building a football club, not just a team. Highlights the success of young players he coached, such as Peter Weir and Frank McAvennie. Stresses the value of giving opportunities to young players and the different personality required to manage them.
[00:38:27]
Coaching and Managing
Acknowledges the shift in the role of a manager in modern football. Notes the commercial aspects of the modern game and the difficulty of managing large clubs.
[00:38:51]
Managing Manchester United
Reflection on his time as a manager at Manchester United. Emphasis on the importance of personality and communication skills in managing a large club. Discusses the global fan base of Manchester United and the responsibility to deliver for them. Mentions the influence of Sir Matt Busby and the tradition of giving young players a chance.
[00:40:20]
Changing the Culture
Highlights the challenges of changing the existing culture and the dedication required. Describes the work culture and the need to instil discipline and dedication in players. Reflects on the long process of changing the culture at the club.
[00:43:39]
Importance of a Strong Captain
The significance of having a strong captain on the field, with examples of influential captains.
[00:45:02]
Role of Assistants
The importance of surrounding oneself with good people and the impact of assistant managers throughout the guest’s career.
[00:47:49]
Career Reflections
Reflections on the careers of former assistants and their paths in football management.
Sir Alex expresses pride in the success of young players he managed. Highlights winning the European Cup in Barcelona as the pinnacle of his career, describing it as the “Holy Grail” and a moment he will never forget.
Keywords: Education Industry, Airline Connections, Middle East Relationships, Football Club Financial Struggles, Business Mentoring, Tourism, Youth , Rangers, Celtic, Inverness Caledonian Thistle, Development, International Relations, Green Hydrogen, Renewable Energy Jobs, Battery Storage, Solar Panels, Electricity Pricing, GB Energy, Sustainable Housing, Lord Willie Haughey, Sir Tom Hunter, Stuart Patrick CBE, Sir Alex Ferguson.
Friday Oct 04, 2024
Friday Oct 04, 2024
Premiering this Sunday at 12 PM, join us for an exclusive 1-2-1 chat with the legendary Sir Alex Ferguson and the esteemed Lord Willie Haughey. Dive deep into the mind of the man who led Manchester United to unparalleled success, and uncover his secrets on leadership, resilience, and the business of football.
Exclusive Insights: Get a rare glimpse into Sir Alex Ferguson’s strategies that transformed Manchester United into a global powerhouse.
Leadership Lessons: Learn about the leadership principles that guided Ferguson through his illustrious career.
Resilience Tips: Discover how resilience played a crucial role in overcoming challenges both on and off the pitch.
Business Wisdom: Gain valuable knowledge on the business side of football from two industry titans.
Mark your calendar and set your reminder—this is an episode you won’t want to miss!
Subscribe now to ensure you don’t miss out on this and more exclusive content!
Sunday Sep 29, 2024
Sunday Sep 29, 2024
Key Highlights
Scottish Whisky News:
Big news in the whisky world! The Famous Grouse, a renowned Scottish whisky brand, has been sold to William Grant & Sons.
This is a significant move.
William Grant & Sons, a family-owned business, is now the proud owner. They have a massive operation in Girvan, and the whisky’s value increases with age.
Energy Solutions and Social Tariff:
The Scottish government is working on a new social tariff for energy, aiming to support those in need.
It’s a complex issue, requiring collaboration from multiple parties. However, starting with insulation and energy management can save significant costs.
Energy Solutions for Existing Houses:
People are looking for solutions to reduce energy costs, and there’s a promising approach focusing on insulation and energy management, which is more economical than expensive solutions like solar panels and batteries.
These solutions can be implemented immediately, with positive feedback from various stakeholders, including visits from senior management teams.
Grangemouth Refinery Crisis:
The UK government is addressing the Grangemouth refinery issue, which is a significant test for the Labour government.
Jim Ratcliffe’s INEOS and their Chinese partners are planning to cease refining due to losses of £150 million a year. The future of energy solutions and the Grangemouth refinery remains uncertain.
Taxation and Economic Balance:
Balancing taxation is always a challenge. It’s crucial to find the right balance. While taxing the rich can be popular, it’s more effective to grow the entire economy so everyone can contribute fairly. Over-taxing high earners won’t solve the problem alone.
Infrastructure Investment:
The government plans to invest more in infrastructure and capital projects. Investing in infrastructure is essential for economic growth. Projects like the hydro have shown significant positive impacts. It’s about ensuring a good return on investment to boost GDP.
Pensioner Support and Communication Issues:
There have been communication issues regarding pensioner support. The government’s communication has been poor. While they promised to maintain the triple lock, ensuring pensioners are better off, the messaging has been confusing. Clear communication is vital to avoid misunderstandings.
Bill Gates’ Netflix Series:
The new Netflix series featuring Bill Gates is fascinating. The series covers major issues like global warming, disease eradication, and misinformation. Gates’ work through his foundation, especially in eradicating polio and tackling malaria, is commendable.
Debate on Wealth:
The series also explores whether one can be too rich. Gates discusses this with Bernie Sanders, highlighting different perspectives on wealth and its impact on society. It’s a thought-provoking discussion on the responsibilities that come with great wealth.
Main Guest: Simon Forrest Co Founder, Nova Innovations
Simon Forrest is the co-founder of Nova Innovation, a global leader in marine energy, delivering clean and predictable electricity to clients worldwide. Founded in 2010, Nova has offices in Leith, Dublin, Brussels, and Halifax, employs 50 staff, and has a turnover of £5 million.
Raised in Larkhall, Simon didn't have an obvious entrepreneurial role model but showed an entrepreneurial spirit from a young age. At 15, he started his own chicken farm, selling free- range eggs to local schools and businesses.
After leaving school, Simon began an apprenticeship as an engineer at IBM Greenock, where he also completed his degree. He then pursued a career as an investment banker in London and New York. While he found parts of that career enjoyable, he missed engineering and returned to IBM in a global role.
His passion for renewable energy led him to pursue a PhD at Edinburgh University in Engineering Power Systems, where he met his future co-founder, who was one of his lecturers. Their vision for Nova was ambitious— to make tidal energy as prominent as wind energy is in Denmark.
Board You Can't Afford
Kayla Megan Burns, Podplistic
Kayla is a Biomedical Scientist, the Convenor of Disability Equality Scotland, and a past member of the New York Times’ Generation Climate where they curated and presented content appealing to youth across the areas of technology and climate change during COP26.
They have previously co- founded a podcast and audio production company which generated 5-figure revenues, and are now primarily focusing on building Podplistic - an AI-enabled podcast production software for global news and media companies, who are currently in early discussions with the New York Times.
Keywords: Sir Tom Hunter, Lord Willie Haughey, Simon Forrest, Nova Innovation, Marine energy, Tidal energy, Renewable energy, Scottish Business, AI, Alex Ferguson, Podcasting, Scottish Business, Scottish Politics, UK Business, Uk Politics
Sunday Sep 22, 2024
Sunday Sep 22, 2024
Business Show Highlights:
Fed’s Bold Move: The Federal Reserve cuts interest rates by 50 basis points for the first time in four years, aiming to stabilise the market.
UK Holds Steady: Despite global trends, the Bank of England keeps interest rates at 5%, sparking debates on future economic strategies.
Inflation Concerns: With inflation down to 2.2%, experts worry about potential rebounds and the impact on financial markets.
Currency Strength: The pound reaches its strongest level against the dollar in decades, influencing international trade and investment.
Future Predictions: Speculations on the UK potentially cutting rates by 25 basis points later this year and the long-term outlook for interest rates.
Economic Warnings: Government financial warnings and the challenges of managing budget gaps amidst economic uncertainty.
[00:04:28]
Impact on Pensioners: Positive news for single pensioners, who will see a £1,300 annual increase starting next year
Pensioners’ Good News Miscommunication: Discusses the frustration over poor communication from the Treasury, which turned a positive £2,600 pension boost for couples into a source of angst.
[00:05:00]
Labour Party’s Communication Strategy: Suggestions that the Labour Party needs Alastair Campbell back for effective messaging. Mentions economist Andy Haldane’s critique of the government’s fear-inducing communication.
[00:05:44]
Scandalous Freebies: Highlights the controversy over the Prime Minister’s wife’s clothes donations and the impact of such scandals on public trust.
[00:07:02]
Call for Alastair Campbell’s Return: Emphasises on the need for better communication strategies and plans to meet with Alastair Campbell and Morgan McSween to address the issue.
[00:08:10]
Political Honeymoon: Reflection on the short-lived euphoria following a political victory, dampened by recent revelations.
[00:09:37]
TGI Friday’s Nostalgia and Decline: Tom reflects on the fond memories of TGI Friday’s and its failure to evolve with the times, leading to its decline. Highlights the importance of businesses adapting to changing customer preferences.
Business Evolution: Lord Haughey discusses how successful businesses like McDonald’s have evolved over time, contrasting with TGI Friday’s stagnation. Emphasis on the need for continuous innovation to stay relevant.
[00:10:20]
Commonwealth Games in Glasgow: Talk about the return of the Commonwealth Games to Glasgow, the financial implications, and the benefits for the local hospitality sector. Mention that the clever deal ensuring no public money is used.
[00:12:10]
Flamingo Land Controversy: Discusses the rejection of Flamingo Land’s planning application at Loch Lomond, the challenges of planning objections, and the importance of aligning with local community interests.
Investment and Environmental Concerns: Highlights the tension between investment opportunities and environmental protection, with a focus on the role of the Greens in opposing certain developments.
Kiltwalk and Community Engagement: Mention that the Glasgow Kiltwalk, biggest in the world and its significance, and the community’s welcoming nature at Balloch Park.
[00:14:30]
Lord Wolfson and Business Evolution: Talks about Lord Wolfson’s insights on international expansion driving profits for Next, and the importance of business evolution in the retail sector.
Equal Pay Case Impact: Covers the recent equal pay case involving Next and its potential impact on the company’s operations and employee relations.
[00:15:45]
New Business Developments: Sir Tom discusses a new partnership in Edinburgh for developing homes, schools, and a community park, and the recent sale of Cala by LNG for £1.35 billion.
This Week’s Special Guest:
Dr. James McIlroy, Founder and CEO of EnteroBiotix Ltd
Background: Medical doctor and scientific entrepreneur dedicated to global health and wellbeing.
Career and Achievements
Founding EnteroBiotix: Established while at university with the goal of creating best-in-class medicines using healthy bacteria.
Funding and Development: Raised approximately £50 million in equity investment.
Additional Contributions
Inside Matters: Founded an organization providing educational resources on gut health and wellbeing.
Personal Interests: Passionate about exercise, nutrition, and lifestyle approaches to health and wellness.
The Board You Can’t Afford
Guest: Ryan Davidson, Highland Transfers
Strategic Question: Balancing the risk of revenue gain against maintaining customer experience.
Company Overview: Highland Transfers, a self-guided adventure and baggage transfer business, started in August 2019.
Client Base: Serves both individual clients and major self-guided and guided adventure companies globally.
Unique Adventures: Customises adventures to ensure each client experiences something unique, encouraging exploration off regular routes.
Expansion Dilemma: Considering whether to heavily invest in the American market for potential revenue growth or continue with the current strategy that guarantees steady income.
Future Plans: Evaluating the potential benefits of expanding into new markets versus the stability of existing operations.
Sunday Sep 15, 2024
Sunday Sep 15, 2024
Episode Notes and Highlights
US Current Affairs:
Discussion on the controversial statement from Trumo about migrants and pets.. Comments on Kamala Harris’s performance and how she managed to rile Donald Trump.
Political Commentary:
John Bolton questioning Trump’s fitness to be commander in chief. Expression hope that Trump will not be president again.Comments on Trump’s claims about the war in Gaza and Kamala Harris’s remarks about President Xi and Putin.
04:35
Andrew Carnegie:
References Andrew Carnegie in the context of current events concerning US Steel.
07:00
Declaration of a New Labour government and the scrutiny over a £20 billion black hole.
Opposition’s demand for more details and the government’s lack of forthcoming information.
Sir Tom Hunter questions the decision to cut pensions and suggests more time should have been taken to find alternative savings.
Labour Party’s handling of pension cuts statement and the lack of announcement of increased payments to pensioners. Discussion on the media’s focus on pensioners’ hardships and the potential negative headlines.
08:20
Public Service Salaries:
References a Freedom of Information request revealing high salaries for civil servants in Scotland.
Concern over the number of senior public servants earning over £100,000.
Value for Money:
Emphasises the importance of paying public servants well if they deliver results. Comments on the Scottish Government’s allocation of taxpayer money.
Public Sector Employment and Outcomes:
Highlighting the unsustainable nature of employing many people without improving outcomes. .
Public Sector KPIs:
Discussion on the lack of Key Performance Indicators (KPIs) in the public sector compared to private businesses.
Pension Cuts:
Suggests that deeper analysis could have prevented pension cuts and the resulting public backlash.
Civil Service Issues:
The civil service is broken and mentions the impact of COVID-19 on the system. Emphasis the need for strong leadership and accountability in the public sector, with appropriate compensation for good leaders. Discussion on the increase in civil service numbers in Scotland and their effectiveness.
Financial Concerns:
Highlighting the discrepancy between increasing employment and the existing deficit, calling it a recipe for disaster.
15:20
Celebrating 25 Years of the Hunter Centre for Entrepreneurship, Innovation, and Strategy
25th anniversary of the Hunter Centre for Entrepreneurship, Innovation, and Strategy at Strathclyde University.
Background:
The Centre was founded by Tom Hunter after selling his sports business.
Inspired by visits to top entrepreneurship centers in the U.S., including Babson College.
The Centre combines academic knowledge with practical entrepreneurial experience.
Key Highlights:
New Leadership: Nigel Mackenzie is the new director.
Mission: Focus on entrepreneurship, innovation, and strategy.
Research and Practice: Emphasis on practical ideas, influencing government policy, and making a difference in the entrepreneurial ecosystem.
Achievements:
The Centre has grown significantly over the past 25 years.
It has become a leading hub for entrepreneurship research and education in Europe.
Future Plans:
Continued focus on combining academic and practical entrepreneurial insights.
Upcoming 25th-anniversary celebration event.
Economic Insights:
Discussion on current economic trends, including interest rates and inflation.
Positive outlook on long-term economic indicators.
Conclusion:
Recap of the Centre’s journey and achievements.
Excitement for the future and upcoming celebrations.
17:30
Economic Trends, Football Finances, and Leadership Insights
Economic Trends:
Inflation and Deflation: Current US deflation rate at 2.5%, with positive economic indicators.
18:30
Football Finances:
Financial Losses: Discussion on recent financial losses in football, including a £113 million loss. Jim Ratcliffe: Insights into Jim Ratcliffe’s business approach and the financial challenges in football.
Chelsea’s Situation: Analysis of Chelsea’s financial struggles and shareholder dynamics.
19:15
Upcoming Guest: Sir Alex Ferguson
Interview Announcement: Sir Alex Ferguson will be featured on the Go Radio Business Show.
Leadership Insights: Sir Alex’s transition from football to teaching at Harvard University.
Book Recommendation: Encouragement to read Sir Alex’s book on leadership.
20:45
Scottish Government and Budget:
Budget Balancing: Discussion on the SNP’s efforts to balance the budget, including new taxes on alcohol and cigarettes.
Political Strategy: Analysis of the political implications of budget balancing.
NHS and Government Efficiency:
NHS Spending: Discussion on NHS spending and patient outcomes.
Tony Blair Institute: Insights from the Tony Blair Institute on improving government efficiency and the role of AI.
22:50
Economic Insights and Lessons from Ireland
The Irish Economy:
Apple’s Tax Payment: Apple has been ordered to pay €13 billion to the Irish government.
Economic Surplus: This payment could lead to a €23 billion surplus for Ireland.
Comparison with the UK: Discussion on how the UK can learn from Ireland’s economic strategies.
Key Points:
Ireland’s Success: Exploration of why Ireland’s economy is thriving compared to the UK’s.
Government Policies: Highlighting the policies and strategies that have contributed to Ireland’s success.
Lessons for the UK:
Learning from Success: Encouragement for the UK and Scottish governments to study and adopt successful strategies from Ireland.
Policy Recommendations: Discussion on specific policies that could be beneficial if implemented in the UK.
24:09
Guest Kirsty Allan, Director, City Access Scaffolding
Kirsty was raised by her grandparents in Edinburgh.
Kirsty initially attended Granton Primary, but her grandmother, a strong believer in education, managed to get her into George Heriot's School on a bursary. Although she trained as a teacher, Kirsty also pursued various side businesses. Eventually, she left teaching to focus on developing her entrepreneurial skills, starting 'Treacle Boutique,' an online childrenswear business.
She was accepted into the 2nd intake of Entrepreneurial Spark, where she gained many of the key skills she now uses in her business and leadership roles. While 'Treacle Boutique' is no longer operating, Kirsty regards Entrepreneurial Spark as a crucial learning experience
Kirsty co-founded City Access Scaffolding with her husband and a third business partner. While her husband and the business partner focused on the operational work, Kirsty managed the business and handled sales. Ten years later, the company has a turnover of £6 million and employs 55 staff
Kirsty is committed to making the business the best it can be, with a strong focus on societal contribution. She has established a robust apprenticeship scheme and implemented several employee-focused initiatives, including financial and debt recovery workshops aimed at empowering employees with knowledge—efforts that are largely unheard of in this industry.
Securing contracts with Historic Scotland and working with Gleneagles Townhouse.:
Keywords: Donald Trump, Kamala Harris, Andrew Carnegie, US Steel, Steel Industry,Nippon Steel Acquisition, Industrial History, New Labour Government, £20 Billion Black Hole, Pension Cuts, Sir Tom Hunter, Lord Willie Haughey, Government Spending, Public Service Salaries, Freedom of Information, Civil Servant Salaries, Scottish Government, Public Sector KPIs, Hunter Centre for Entrepreneurship, Strathclyde University, Entrepreneurship Education,Economic Trends, Inflation and Deflation, Football Finances, Financial Losses in Football, Jim Ratcliffe
Sunday Sep 08, 2024
Sunday Sep 08, 2024
The Go Radio Business Show
02:00
Shona Robison Fiscal Update
- Scottish government announces budget cuts of up to £500m and measures totaling close to £1bn to balance the budget.
- Discussion on the need for a plan to eradicate child poverty.
05:00
Lord Haughey on the 4-Day Work Week
- Lord Haughey argues that a 4-day work week could lead to job losses.
- If Labour wins the Scottish Elections, he plans to lobby for a Minister for Efficiency.
06:00
GB Energy’s UK Headquarters
- News leaks suggest GB Energy’s UK headquarters will be in Aberdeen.
- Discussion on the importance of prioritising 100% clean energy.
11:00
Simon Pitts New Role
- Simon Pitts leaves STV in good health to join Global.
- Reflection on his successful tenure at the media company.
12:00
Craneware’s Financial Success
- Scottish-based Craneware reports a 20% profit jump to nearly £16m, with revenues growing 9% to $189m.
- CEO Keith Neilson attributes growth to past investments.
13:00
Innovate UK’s Grant Controversy
- Innovate UK faces backlash for awarding only 25 out of 50 possible grants to female businesses.
- Former guest Becky Lumsden leads calls for the agency to improve its support for female founders.
- Innovate UK apologises and promises to release the remaining grants.
15:00
Hunter Foundation and Oxford Economics Report
- The Irish economy is projected to have an €8.6 billion surplus, growing five times faster than expected.
- Discussion on Scotland learning from Ireland’s success, particularly in addressing housing supply and demand issues.
18:00
Wind Farm Success
- Several Scottish wind farm businesses secure UK government backing, potentially creating thousands of jobs.
- Projects include Green Volt, Moray West, Cloiche, and Chleansaid wind farms.
21:45
Main Guest: Sean Tracey, Chairman of Hyper Luminal Games
Entrepreneurial Background: Sean’s grandfather established a successful import business in China in the 1920s. His parents met in China, where his father worked as a British spy.
Early Career: Sean’s first job was at Nardini’s in Largs, where he learned the importance of customer service and maintaining a reputation for quality and innovation.
Sean joined the Trustees of The Kiltwalk and began investing in early-stage businesses. He became Chairman of Luminal Games, a Dundee-based game studio that now employs 84 people and has recently released its first game.
Sean’s greatest passion is helping businesses grow, creating jobs, and making a meaningful impact on the Scottish entrepreneurial community.
41:10
Board You Can’t Afford
Guest: Kevin Fallon, Co-Founder of Flex Medical Solutions
About Flex Medical Solutions (FMS):
A contract development and manufacturing organization (CDMO) specializing in Point of Care (POC) human diagnostics (e.g., COVID, diabetes, flu, cancer testing).
Based in Livingston, West Lothian, employing 50 highly skilled professionals.
A profitable, privately owned, self-funded business with zero external investment.
Discussion Topic
Kevin seeks insights on how the UK and Scotland can better support business growth through efficient and fair taxation.
Sir Tom Hunter, Lord Willie Haughey, Go Radio Business Show, Scottish Business Podcast, Scottish Entrepreneurs, Business Podcast, Glasgow Business, Eradicating Scottish poverty, 4-day work week impact, GB Energy Aberdeen headquarters, Clean energy UK, Simon Pitts STV, Craneware profit growth, Innovate UK female grants, Irish economy surplus, Scottish wind farm projects, Sean Tracey, Hyper Luminal Games, Flex Medical Solutions, Kevin Fallon.
Sunday Sep 01, 2024
Sunday Sep 01, 2024
Episode Highlights:
1. Labour’s General Election Success:
- Discussion on the accurate exit polls.
- The mood of Scotland’s businesses post-election.
2. Economic Growth and Productivity:
- Lord Haughey’s feedback to Keir Starmer and Rachel Reeves.
- Emphasis on economic growth, hope, and avoiding the blame game.
- Importance of productivity.
3. Lord Haughey meets Deputy First Minister Kate Forbes
- Lord Haughey’s Glasgow development offers affordable renting 'solution'
- Advises about lifting rent freeze.
4. Housing Crisis:
- Lord Haughey’s conversation with the Deputy First Minister about lifting the rent freeze bill.
5. Scottish Enterprise:
- Securing 17,000 jobs for Scotland.
- Positive news stories.
6. US Politics:
- Joe Biden steps down, Kamala Harris’s impact.
- Trump’s reaction and political dynamics.
7. Retail Analysis:
- Tom Hunter’s insights on rates bills and e-commerce impact.
- Discussion on tourism tax.
8. Brexit’s Impact on Business:
- Keir Starmer’s charm offensive with France and Germany.
- Business feedback on Brexit and the need for closer ties.
9. Personal Milestones:
- Tom Hunter becomes a grandpa to Campbell Hunter.
10. Murray’s Legacy:
- Judy and Andy Murray’s academy plans and legacy concerns.
Labour General Election, Economic Growth, SNP Deputy First Minister Kate Forbes, Housing Crisis, COP26, Scottish Enterprise, US Politics, Retail Analysis, Tourism Tax, Brexit, Tom Hunter, Willie Haughey, Murray Legacy, Go Radio Business Show
Sunday Jun 02, 2024
Sunday Jun 02, 2024
Hunter and Haughey's special guest this week is Doug Duguid, CEO of Indigo 7 Ventures and Aurora Energy Services.
Doug was one of the founders of EnerMech. EnerMech had a build and buy strategy, completing 17 acquisitions of owner managed businesses over a 12-year period – and was backed by Lime Rock Partners. It provided maintenance and commissioning services to the energy and infrastructure sectors - with significant organic growth through both international expansion and new service line offerings.
Doug previously spent 4 years at PSL Energy Services where he led the Lime Rock backed management buy-out in May 2003. PSL provided well services and pipeline and process services to the oil & gas industry.
In 2020 Doug and Michael Buchan founded I7V Renewables Ltd – which is a private investment vehicle – which has provided capital to a number of early-stage renewables/sustainability businesses (e.g. Zelim, Recycl 8, Power Roll, Xergy Group, Realest and Resource Design) and is the majority owner of RenQuip, Recruitment Ventures and Aurora Energy Services.
Sir Tom and Lord Haughey will also offer business insight and advice - if you have a question or a suggestion for the show, email gobusiness@thisisgo.co.uk or WhatsApp your question to 0808 17 17 700