Trading Up

Join host Jim Fitzpatrick on Trading Up as he welcomes Claire Murray, Head of Development and Marketing at the Lyric Theatre, to deconstruct the "business" of show business. Claire discusses her transition from the high-stakes world of FMCG marketing at Coca-Cola and Heineken to steering the financial and creative success of Northern Ireland’s premier self-producing theatre.Celebrating the Lyric's 75-year history, this episode explores how corporate strategy can sustain cultural institutions. Claire details her implementation of flexible pricing models that significantly boosted ticket yield and the theatre's vital earned income, which now accounts for two-thirds of its turnover. Beyond the stage, the discussion highlights the arts as an economic engine, using "soft power" to attract inward investment and enrich the civic life of Belfast and Northern Ireland. This is an essential listen for anyone interested in marketing, entrepreneurship, and the symbiotic relationship between culture and commerce.Just as a master welder in the Lyric's scene shop carefully joins steel to build a set, this episode illustrates how Claire Murray fuses corporate marketing with artistic vision to build a sustainable future for this vital cultural institution.DisclaimerBrought to you in association with EY. The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice. Hosted on Acast. See acast.com/privacy for more information.

In this special holiday edition of Trading Up Unpacked, Jim Fitzpatrick and Professor Richard Ramsey dive deep into the pressing economic questions facing Northern Ireland. They tackle the controversial "grant culture" and the "perverse incentives" that have shaped the region since the days of Delorean, arguing for a shift toward competition and tax-based incentives. Jim and Richard explore the "fiscal deficit attention disorder" affecting public services and propose a radical solution: moving the government out of Stormont to reconnect with the people. For business owners, the episode provides essential insights into succession planning, highlighting the Almac trust model and the evolving landscape of Employee Ownership Trusts. Finally, they debate the missed opportunities in the recent licensing review and the need for a more competitive hospitality sector. Whether you are a policymaker or an entrepreneur, this episode offers a masterclass in navigating Northern Ireland’s unique business environment.DisclaimerBrought to you in association with EY. The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice. Hosted on Acast. See acast.com/privacy for more information.

How does a local hospitality group thrive while the wider sector faces "lights out" financial pressures?. In this episode of Trading Up, Galgorm Collection CFO Tiarnán O’Neill reveals the strategy driving the group’s £70 million turnover and remarkable 94% occupancy rates. He discusses Galgorm’s rapid expansion through acquisitions like The Rabbit and Roe Valley Resort, alongside their ambitious project to build Northern Ireland's first new links golf course in over a century.Drawing on his unique career—from PWC to modernising the Diocese of Down and Connor’s 400-year-old financial structure—O’Neill provides a masterclass in scaling luxury hospitality. He addresses critical challenges, including VAT disparities and National Insurance hikes, while outlining an ambitious 10-year vision for growth.DisclaimerBrought to you in association with EY. The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice. Hosted on Acast. See acast.com/privacy for more information.

On this week's episode with Jim Fitzpatrick and Richard Ramsey they explore how one key private sector survey suggests Northern Ireland's economy is struggling, marked by a sixth straight month of declining business activity and escalating input costs, particularly in construction, outpacing other UK regions. Despite some resilience among cross-border firms, the absence for more than a decade of a multi-year budget from Stormont is fostering short-termism and hindering strategic planning. The commitment to UK public sector pay parity exacerbates financial woes, highlighting Northern Ireland's "cake and eat it" approach of demanding high spending with low taxes and a refusal to countenance measures such as water charges.Brexit frictions - which in Northern Ireland mean things like potential shortages of GB-sourced, non-EU-compliant cars and tumble dryers - are spurring wider UK discussion about rejoining the EU customs union or single market. Meanwhile, the independence of the US Federal Reserve faces political scrutiny, and Ireland's economic model is under pressure due to its low spending on defence, raising concerns about its critical infrastructure vulnerability and reliance on US investment in this new world of disorder.Brought to you in association with EY.The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice. Hosted on Acast. See acast.com/privacy for more information.

Trevor Magill is the Northern Ireland Managing Director of the Musgrave Group, one of Ireland's biggest and longest-established family businesses. It's a huge retail, wholesale, and food service business, servicing around 7 million customers weekly and boasting a turnover exceeding €5 billion.As the company approaches its 150th anniversary, Trevor and Jim delve into how this seventh-generation family business has thrived in the competitive, fast-moving consumer goods (FMCG) sector.A cornerstone of their success is the unique independent retail partnership model used for brands like SuperValu, Centra, and Mace across Northern Ireland. McIll explains that this partnership allows independent owners to support their local communities and ensures the company avoids becoming "far too corporate".The discussion covers strategic evolutions, including the development of market-leading private brands like Frank and Honest coffee and the continuous focus on value and convenience for the modern consumer. He also highlights the importance of sourcing 70-75% of their range on the island and details the group's long-term commitment to community initiatives, such as its 25-year relationship with Action Cancer. He shares personal career lessons, emphasising the necessity of strong people, core values, and fulfilling commitments in business.Brought to you in association with EY.The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice. Hosted on Acast. See acast.com/privacy for more information.