Watch: Insider's Business Briefing - 29th August
Phil and Laurence discuss a new manufacturing hub in Knowsley, the sale of a direct mail and fulfilment specialist, huge numbers of start-ups in Northern Ireland and a major fundraise for a hospitality platform.
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00:00A manufacturing hub in Knowsley, the sale of a direct mail and fulfilment specialist,
00:05huge numbers of start-ups in Northern Ireland and a major fundraise for a hospitality platform.
00:11Welcome to this morning's business briefing.
00:14Well, hi, good morning. I'm Phil Cunliffe.
00:22I'm Lawrence Cullinan.
00:23We're here to have a look at one or two of the day's big stories.
00:29Lawrence, where are you taking us this morning?
00:31Yeah, well, one story that caught my eye this morning, Phil, is a good news story.
00:35It was a rescue deal out of administration of a direct mail specialist based in Leeds,
00:43R&B Group. They've been established for about 20 years, so a well-established business,
00:49but they'd run into some difficulties and they sort of brought in Begbie's trainer to sort of
00:54advise on their options. As you know, administrations, they can go one way or the other,
01:00but here it's a good news story and the business has been sold out of administration
01:04and that's safeguarding about 30 jobs, so great news for them.
01:07And obviously, the new owner looks to see a future for the business,
01:11so we'll watch this space and see how it goes.
01:14Yeah, well, absolutely. And talking of insolvencies and restructuring,
01:18there's a story out of Northern Ireland, so really, really good news.
01:21On the uptick side of that is for startups in Northern Ireland and R3,
01:26which is the trade body for that industry, has noted, has commissioned research
01:34and has found that a staggering 1,563 new businesses have been set up in Northern Ireland,
01:46which is an uptick of 131% on the figures compared to two years ago, so from 2022.
01:55Data was provided by CreditSafe and it shows that those businesses were created
02:03and another 500 were created this year alone as well,
02:06so it's really interesting that that's happened in Northern Ireland.
02:10Also, good news in the North East as well, they've also had a big uptake in startups as well,
02:17so I don't know why there specifically that's happened,
02:21but obviously, market conditions are right in those two.
02:24Well, yeah, I mean, it's a big moment, isn't it, to take the plunge and say,
02:27yeah, we've got an idea or whatever, we're going to go for it.
02:30But also interesting that R3 is providing the research,
02:32so they're obviously emphasising the importance of making sure the foundations
02:36are in place for these businesses as well.
02:39It is also interesting to note that all the other regions of the UK had falls in startups,
02:45so regional variations are coming to play there.
02:48But I think the mood music is generally a bit more positive.
02:50I think it is, yeah, absolutely.
02:53Where else are you taking us this morning?
02:55Well, another positive story, this is in the Liverpool City region over in Knowsley,
03:00where HEMSEC has secured a £1 million loan from the Liverpool City Region Combined Authority.
03:07And that's to open a new manufacturing facility, which is creating about 25 jobs.
03:14They specialise in structural insulated panels.
03:18Now, SIPs, as they're called in the...
03:21Doesn't mean anything to me, does it?
03:22Yes, well, they are sort of, they're used in energy-efficient
03:26modern methods of construction properties.
03:29They seal in all the heat and they allow people to sort of
03:35spend less on their electricity and heating.
03:37Well, in today's news about hikes in energy prices, it's good news.
03:42HEMSEC also work with local housing associations in the area,
03:45so particularly important there that the houses are energy-efficient.
03:49And the £1 million they've received is from the Flexible Growth Fund,
03:54and that's the maximum amount that they can allocate to any particular loan.
03:58And the application was overseen by our friends of Insider, River Capital.
04:02Oh, River Capital, yes.
04:03Yep, absolutely.
04:04Of one PE business to another,
04:08Nickleby Capital down in London has led the fundraise of a London-based
04:14premium hospitality platform for live music, sport, cultural events.
04:19They've raised £14.5 million as part of its extended Series A fundraise.
04:26The online platform connects fans with official hospitality packages
04:32and premium tickets for live events.
04:34The thing you need to do, Phil, is ring the chairman of the club in question,
04:38don't you, to get your tickets for events?
04:39Well, especially, I think the tickets for Oasis can't go on sale.
04:44Yeah, I wouldn't know if they're handling that then,
04:46but they might well be handling sort of packages.
04:49Could well get a boost.
04:50A spike.
04:52Well, the company, Seat Unique, have secured partnerships with over
04:59more than 60 major UK venues and promoters, including Yorkshire Cricket,
05:06the Jacksonville Jaguars, who I don't know, but they're based in the UK now,
05:11or that UK franchise is here, and Burnley Football Club, who I do know very well.
05:16And so, Seat Unique has garnered the support of top sporting stars as well,
05:22including Dame Jessica Ennis-Hill, Ben Stokes, Sam Warburton and Stuart Broad.
05:29So, two very...
05:30Wow, real role-calling stars there.
05:32Absolutely, and from the business world as well, they're also boosted by some big names
05:40from the business world, Dame Alison Rose and Michael Lockett, for example,
05:45now on their Board of Business Advisors.
05:48So, it looks as though it's really, really going in the right direction.
05:51Yeah, excellent.
05:51Well, to find out more about the stories we've been talking about today,
05:54go to insidermedia.com.
05:57You can also there subscribe to our newsletters.
05:59You can subscribe to our magazines and find out more about upcoming events,
06:03because there's a lot of events coming up.
06:04Phil, are you involved in...
06:06Yes, we've got lots going.
06:07I mean, September, October and November, and early December as well,
06:11are fully locked out on events.
06:13So, yeah, busy time.
06:15Excellent. Well, that's everything from us. See you next time.
06:17Yeah, have a good day.