Watch: Insider's Business Briefing - 26th March 2025 - video Dailymotion

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Adam and Alice discuss the North East OMB 100, a grade II-listed hotel for sale in Whitby and the acquisition of a Welsh accountancy firm.

Transcript

00:00A major acquisition in Wales, a ranking of owner-managed firms in the North East, and

00:04a look at today's Spring Statement, appearing in today's Business Briefing.

00:08Good morning, Alice.

00:10Good morning, Adam.

00:13So, today we've got the Spring Statement, we've got some...

00:18We do.

00:19Yeah.

00:20Yes, so Rachel Reeves will present the statement at about lunchtime today, and the announcement

00:23is set to include updates on the government's plans for the economy based on forecasts from

00:28the Office for Budget Responsibility.

00:31Now, a few days ago, Prime Minister Keir Starmer said that the government will not alter the

00:35basics of public spending, but he did say he was going to take some money out of the

00:39government.

00:40And in today's newsletters, we published a piece on speaking to small businesses about

00:45what they would like in the budget.

00:46Obviously, one of the main things they're looking for is more funding, which has kind

00:50of been a theme over the last few years, hasn't it?

00:52There's not enough funding for SMEs, so they're looking for that.

00:56They also mentioned things like electric vehicles, so you can look on our newsletters

01:00today to see that and find out what they're looking for.

01:03We're also going to be doing a live blog as the statement's on, and we'll be sending out

01:08regional newsletters with all of the information, all of the big moments from the statement,

01:13as well as how that might affect the regions.

01:16So I assume as well we'll get probably lots of reaction from...

01:20We always do, yeah.

01:21...leaders and important people from each region.

01:24If you do want to find out any of the big moments from the statement and also what people

01:27think about it, make sure you're on our website today.

01:30Yeah, definitely worth gluing your eyes onto insidermedia.com today.

01:33It's a big day for Chancellor Rachel Reeves.

01:36Away from that, we've got some interesting property news with a prominent hotel in Whitby.

01:41You visited Whitby.

01:42I love Whitby, yeah.

01:43It's a lovely place.

01:44It's been placed on the market by Christian Co.

01:47Now, that's the Resolution Hotel, which has 38 letting bedrooms and a bar and restaurant

01:53named The Vault.

01:54Now, the building's actually Grade II listed, and it's located in the heart of Whitby town

01:59centre and surrounded by shops, you know, cafes, bars, and restaurants.

02:03It's actually only 200 metres away from Whitby Harbour, so definitely prominently located.

02:08It actually takes its name from the ship of Captain James Cook, who is said to have once

02:14lived in the town.

02:15Oh, really?

02:16Yeah.

02:17I never knew that.

02:18No, I didn't.

02:19You just hear about Dracula in Whitby.

02:20Exactly.

02:21So there's a lot of Dracula stuff going on, but it's been placed on the market for £3.2

02:27million, so a significant deal for Whitby there.

02:31Yeah, good opportunity for someone.

02:33That's right, and we've got a new insider list that you're discussing today, that's

02:36right?

02:37We do, yes.

02:38So today, we have published our annual Owner Managed Businesses 100 list for the North

02:42East.

02:43So that ranks the largest OMBs in the region based on turnover, and we get that information

02:49based on information from Companies House.

02:52So this year, it's sponsored by Gallagher, UNW, Julius Bauer International, and Waitmans.

02:58And it features some familiar faces, including Cleveland Cable Company, which has topped

03:04the list for pretty much every year that we've done it.

03:07But it also has people such as Hayes Travel, Barber, and Fennec, so some national and international

03:13brands.

03:14Very notable names.

03:15Not everyone knows that they're headquartered in the North East, but they are.

03:19So on the back of that list, we'll be publishing a series of interviews with some of the businesses

03:24included, such as Clayton Glass, which is one of the oldest, largest, and most innovative

03:30glass manufacturers in the UK.

03:32So Philip Cunliffe, who's our North East editor, has spoken to Ryan Green from the

03:38business to find out how it's growing, information about it, and yeah, we'll have that published

03:43soon.

03:44But if you want to read the list, you can do so on insidermedia.com.

03:48That's great.

03:49And finally, we've reached the acquisition portion of today's briefing.

03:54We have an accountancy firm in South Wales being acquired by professional services business

04:00Zynedin.

04:01It's Curtis, Bowden, and Thomas, which provides a variety of general accounting and taxation

04:06services to local businesses, and it was established in 2003.

04:12Its 22-strong team will continue to operate from its existing offices, but the company

04:16expects to benefit from Zynedin's international network and expanded resources.

04:23The move was said to strengthen Zynedin's goal of expanding its presence in Wales.

04:28Now I think that's it from us today, but you can hear more about those stories and

04:32others at insidermedia.com, where you can subscribe to our newsletters and hear about

04:36upcoming events.

04:38Thanks.

Watch: Insider's Business Briefing - 26th March 2025

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