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?
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By Go RadioEpisode 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?
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