Ideas Fest will again be staged in Hertfordshire next month

Over the years, I have attended more business conferences than I care to remember. Many follow the same formula, with a windowless hotel function room, a succession of PowerPoint presentations, a buffet lunch, and people wearing name badges, all while trying to work out who might be useful to them.

Good conferences can inform, challenge and connect, but entrepreneurship is not a conventional activity, and entrepreneurs rarely flourish in conventional environments. That is why, five years ago, we created Ideas Fest, which will take place in September at the iconic Champneys Resort in Tring, Hertfordshire.

OPINION

OPINION

Inspired by our love of festivals such as Green Man, we set out to move away from the usual conference style and create an event in a field where founders could hear honest stories, make unexpected connections, test ideas, and spend time with people who understand the exhilaration and occasional loneliness of building a business.

This year, six thousand people will gather for two days of talks, conversations, workshops and informal meetings, and more than 500 speakers will participate across stages and tents covering start-up, growth, investment, leadership, and exits.

To keep the festival spirit alive, there will be food traders, bars, a wellness area, and music from Rick Parfitt Junior and the iconic DJ Fat Tony.

Alongside established entrepreneurs, there will be people at the beginning of their journey, investors, advisers and others who support growing firms. Yet the numbers matter less than the purpose, and in my experience working with entrepreneurs over the last thirty years, entrepreneurship is often presented as a largely technical process: write a business plan, identify a market, secure finance, and assemble a team.

Of course, all those things matter, but anyone who has built a company knows the real journey is far messier, as founders often face decisions with no textbook answer. They experience self-doubt, setbacks and periods when they must persuade others to believe in something that may exist only as a possibility.

Business support can help, but it cannot always provide the confidence that comes from meeting someone who has faced the same problem and found a way through it. That is where entrepreneurial communities matter, and at Ideas Fest, the most valuable conversation may happen on a stage, over coffee or while two founders walk between sessions.

Someone may meet their next customer, investor, mentor, or collaborator queuing for the toilet (yes, that did happen last year!) while others may hear the one piece of advice that stops them from giving up. In other words, this is not networking in its most transactional sense but about creating the conditions in which relationships develop naturally and useful collisions can occur.

There is also an important role for honesty, as too much of the narrative around entrepreneurship focuses on success, such as the funding round, the rapid growth, or the eventual sale and what is often omitted is the uncertainty behind those achievements.

Entrepreneurs benefit from hearing not only what worked but also what failed; not only how much money was raised but also how close a business came to running out of funds; and not only the successful exit but also the personal sacrifices made along the way. Those candid conversations across the stages at Ideas Fest make entrepreneurship more human and help founders understand that difficulty is not evidence that they do not belong.

Indeed, Ideas Fest is deliberately designed to encourage what we call “real talk”, and speakers are asked to share lessons rather than deliver polished corporate presentations. As a result, the best contributions are often those in which an entrepreneur explains a mistake they would never repeat or admits they did not always have the confidence others assumed they had.

The event also provides a platform for ambition from across the UK. Through our Start Up Awards and the Fast Growth Index, we encounter thousands of remarkable businesses each year. Many create jobs, develop new products, and transform their communities without receiving the attention they deserve, and bringing founders together from every part of the nation matters because ambition is contagious.

When an entrepreneur from Wales meets someone growing a company in Scotland, Northern Ireland, the Midlands, or the North of England, they often discover they share challenges and that their potential market is larger than they imagined.

This is particularly important for Wales, as we have no shortage of entrepreneurial talent, yet too many founders remain disconnected from the networks, finance and opportunities that could help them grow. If we want to build a more productive economy, we must help ambitious Welsh businesses build relationships beyond their immediate geography while maintaining strong roots in their communities.

Nor should events such as Ideas Fest be judged solely by what happens over two days, as their real value lies in what follows, such as the introduction that becomes an investment, the conversation that becomes a partnership, the idea that becomes a new product, or the renewed confidence that enables a founder to make one more attempt.

Economic development sometimes tends to assume that entrepreneurship can be manufactured through programmes and processes. Government has a crucial role in creating the right conditions, providing appropriate support, and removing barriers, but successful ecosystems are ultimately built around people, trust and relationships, and that is what Ideas Fest is trying to achieve.

It’s certainly a celebration of entrepreneurs, but it is also a practical two days designed to give founders access to knowledge, networks, inspiration, and, perhaps most importantly, one another.

Entrepreneurs build businesses, create employment, and bring new ideas into the economy, yet they also need somewhere to learn, connect, speak honestly, and feel part of something larger than the company they are building.

That is why we created Ideas Fest and why I believe its greatest contribution will not be measured by the size of its audience, but by the businesses, friendships and opportunities that emerge long after everyone has gone home.

WESTERVILLE, OHIO — The addition of the Bachan’s Japanese barbecue sauce brand helped drive sales to a fourth consecutive year of record highs at Marzetti Co. Texas Roadhouse dinner rolls also continued to build momentum, even while dealing with a tough year-over-year comparison to the previous year’s rollout.

For the 2026 fiscal year ended June 30, Marzetti posted net income of $191.61 million, equal to $6.986 per share on the common stock, up 14% from $167.35 million, or $6.08 per share, in fiscal 2025. The most recent year included a net income benefit of $16.6 million from restructuring, impairment and other charges related to the sale of the company’s property in Milpitas, Calif. Net sales in 2026 rose 1% to $1.93 billion from $1.91 billion a year ago, driven by a 2.4% gain in the Foodservice segment to $927.05 million, which helped offset a narrow decline in Retail sales, which fell to $1.002 billion from $1.003 billion.

David Ciesinski, president and chief executive officer of Marzetti Co., told analysts during an Aug. 25 conference call that the company expects stronger top-line growth for recently-acquired Bachan’s in the back half of fiscal 2027, driven by continued investments in marketing and advertising to build the brand’s awareness and trial. He said the company has two “exciting innovations” on tap.

“First is Bachan’s wing sauce, which will be produced at our own Horse Cave, Ky., facility,” Ciesinski said. “Crafted by the Bachan’s team in conjunction with our culinary team, the wing sauce features craveable tamari-based flavors that deliver rich, savory depth.

In the course of last year, retail sales for Texas Roadhouse rolls grew to almost $60 million.

| Photo: T. Marzetti Co.

“The second is Bachan’s Japanese mayo that offers a smooth, silky umami flavor. We expect the addition of the Bachan’s business to our portfolio to be a key growth driver for Marzetti in fiscal ’27. And we’re also pleased to share that the integration of this business remains on track.”

He said the mayo, in particular, presents “a really big category expansion opportunity.”

In the case of Texas Roadhouse dinner rolls, Ciesinski said Marzetti is “exceedingly happy” with the performance of the product since its launch in 2024.

“In the course of the last year, it grew to almost $60 million in retail sales, was up 70%,” he said. “Velocities are two times the category average or thereabouts. We’re launching a second item into Walmart, and honestly, there’s more room just through better distribution on the core items for it to grow. So, if you go back 1.5 years ago, when we began to talk about that item, I estimated that it could be a $100 million in retail sales item. And I still believe that it most certainly has the potential to do that.”

Ciesinski said one of the reasons for optimism around additional growth for the Texas Roadhouse brand is household penetration. He said the brand only has about a 2.5% household penetration, which is a “really, really small” number. By comparison, he said the company’s Sister Schubert’s roll brand has household penetration of close to 10%.

“So, I think with good execution and good trial, that core has the potential to get there ($100 million in retail sales),” he said. “You add that new item, I think it should give us even more confidence that we ought to be able to get there.” 

The billionaire Sports Direct and Frasers Group founder has written to the Prime Minister accusing him of failing to tackle the cost of living crisis

Retail magnate Mike Ashley has lambasted Andy Burnham’s plans to breathe new life into Britain’s high streets, branding them “populist” and “too little too late”.

The billionaire founder of Sports Direct and Frasers Group has penned a letter to the Prime Minister, accusing him of failing to address the cost of living crisis with what he describes as “delusional” policies.

The factors driving the UK’s soaring cost of living “have not been assisted by recent government policies and are not going to be helped by your recent populist proposals,” he said, in a letter seen by City AM.

Ashley accused Burnham of chasing headlines rather than delivering meaningful solutions for hard-pressed households and businesses, taking particular aim at the Prime Minister’s “disastrous” stance on business rates.

Burnham has committed to reviewing the way business rates are calculated for pubs and hotels, and has previously backed a levy on warehouses to fund tax relief for high street retailers, as reported by City AM.

Retailers have long cautioned that a warehouse tax could drive up costs for consumers and Ashley, who leads the Derbyshire-based Frasers group, told Burnham the measure would be “delusional”.

“Rather than address the real underlying issues of how the country’s financial affairs are managed, and supporting growth and entrepreneurialism in business, it is easier for you to pick topics which provide good media soundbites and the old salve of yet more regulation – which is not what the country needs to become competitive,” he wrote. “Shortsighted or populist reactions to underlying business challenges are not the answer. You have the chance to make a difference or get it horribly wrong.”

The retail billionaire ridiculed Burnham’s commitment to deliver “everyday fixes” on the cost of living, which have included a £2 bus fare cap and the removal of VAT on household electricity bills.

“This is a certainly a time for pragmatism and brave solutions but applying that to the underlying issues – not jumping on “everyday fixes” or band wagons that only address part of the problem,” he wrote.

Ashley’s comments arrive as businesses increasingly push back against Burnham’s cost-of-living promises while their own overheads continue to climb.

On Monday, a coalition of prominent business figures including billionaire political donor John Caudwell and retail heavyweight Lord Stuart Rose condemned the “creep of taxes” affecting companies nationwide.

In an open letter, the City veterans called on the government to rule out new taxes on founders, including levies on dividends, capital gains and business assets.

On Wednesday, Burnham told the Financial Times that he will address the “challenging” cost of doing business as he seeks to dispel concerns that October’s Budget will usher in another punishing tax assault on British enterprises. In his letter to Burnham, Ashley also took aim at the Prime Minister’s commitment to tackle what he describes as “fake” discounts.

Aldi chief executive Giles Hurley has thrown his weight behind this initiative, accusing rival supermarkets of misleading customers with loyalty pricing schemes.

Ashley said: “The driving down of prices through discounting is what helps the consumer by giving them better value and helps with their cost of living. Driving down prices through discounting against an RRP can’t be what you really mean when you talk about “rip off Britain”.

Before expanding into luxury fashion through Frasers Group’s takeover of Harvey Nichols and building a stake in Hugo Boss, Ashley built his reputation by offering affordable sportswear at Sports Direct.

Yatharth Hospital shares surged to a fresh 52-week high of Rs 1,024.85 apiece on the NSE. India’s second-largest hospital chain is looking to consolidate amid a buyout spree by large private equity groups, people familiar with the matter told The Economic Times.

The existing promoters may retain a sliver of ownership, but final negotiations are still underway, the report said, adding that there is no guarantee that the talks will lead to a transaction. Yatharth, however, denied it is in any sale discussions.

Headquartered in Noida and Greater Noida, Yatharth has about nine hospitals with a total bed capacity of over 2,800. The company is targeting a total capacity of over 5,000 beds in the next three years through new facilities and expansion. Its footprint also covers Jhansi-Orchha in Madhya Pradesh and Faridabad in Haryana.

Advent has been a big backer of Indian pharma companies but has, so far, not made an investment in the hospitals sector other than a 2012 investment in Care Hospitals. Aster DM Quality Care, meanwhile, was formed by a mega merger of Moopen family-founded Aster DM Healthcare and Quality Care India, unifying four healthcare brands — Aster DM, CARE Hospitals, Evercare and KIMSHEALTH. It also saw two of the biggest PE groups, TPG and Blackstone, join forces to create the country’s second-largest healthcare chain.

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Also read | Yatharth Hospitals draws interest from Aster, Advent as healthcare consolidation heats up

Yatharth Hospital share price

Yatharth Hospital shares jumped more than 18% in one week and 21% in one month, with the stock overall jumping around 50% in 2026 so far. The shares of the company have overall jumped 43% in three years.In the longer term, Yatharth Hospital shares have delivered multibagger returns of more than 167% in three years. The company currently has a market capitalisation of around Rs 9,676 crore.

For the first quarter ended June, Yatharth reported a 51% year-on-year increase in consolidated revenue to Rs 392.70 crore. Average revenue per occupied bed was at Rs 34,758, up 7% from a year ago. Whole-time director Yatharth Tyagi recently told analysts on an earnings call that the hospital chain grew at 37% in FY26 and is set to “easily surpass that growth” this year.

Also read | These 19 stocks turned into tenbaggers in 5 years: Peter Lynch’s rules to find the next

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The innovative chip maker is looking to grow its global business

North East-made microchips that are thinner than a human hair are being marketed in China, the company behind them has revealed.

Pragmatic Semiconductor, which opened its multi million-pound factory site in County Durham in 2024, has launched a new Chinese brand with which it hopes to attract customers in that country. The firm has been exhibiting at the International Internet of Things Exhibition (IOTE) in the country’s southern city of Shenzhen.

It says the launch of the new ‘Pragmatic 湃’ identity demonstrates the significance of the Chinese market – and signals its intention to serve regional customers there. China is considered one of the world’s largest semiconductor markets given its technology-driven strengths in areas such as artificial intelligence and electric vehicles.

Pragmatic’s pioneering flexible semiconductor technology is touted as holding major potential for a range of uses including in packaging, healthcare and consumer electronics, among other ideas. Its ultra-thin semiconductors are physically flexible and can be placed where other counterparts cannot.

The chips offer an alternative to silicon-based alternatives that are energy-intensive to make. And they can be embedded into almost anything, bringing connectivity and intelligence to everyday objects.

James Davey, senior vice president, sales, business development and product management at Pragmatic Semiconductor, said: “Connected products are a critical tool for brand trust, product authentication and protection, and consumer engagement. We are pleased to showcase our customer and partner innovations which demonstrate how flexible semiconductor technology can help brands expand market opportunities and connect the physical and digital worlds.

“With our award-winning NFC product portfolio, expanding partner ecosystem, and new Chinese brand, we are deepening our commitment to customers in China while continuing to scale our global business.”

Pragmatic’s push into China comes as the firm is searching for new equity funding, following its successful £179m series D raise. JP Morgan has been appointed to lead the effort which is intended to ramp up production in County Durham.

In the meantime, the firm has secured £36m of bridge financing from existing investors to keep working. Accounts published earlier this summer, and covering 2025, show Pragmatic saw revenues fall to £901,000, down from £1.69m the year before, and incurred operating losses of £65.1m, up from £55.8m.

Bosses flagged delays to the company’s plan but have pointed to the depth and complexity in their ambition to bring a new, disruptive technology to market. Meanwhile, at Pragmatic Park, a second high-volume production line has been installed to triple the site’s capacity.

Pragmatic’s time at the Shenzhen exhibition was boosted with an award win. It was handed the Radio Frequency Identification (RFID) Product Gold Prize at IOTE 2026’s Innovative Product Awards for its near-field communication product portfolio which includes Pragmatic’s FlexIC, flexible integrated circuit technology.

1. Thailand tightens the gold–baht link — but may go further

New development: Bank of Thailand Governor Vitai Ratanakorn says restrictions on gold trading are working and could be tightened further. The current online-gold trading limit is THB50 million per person per day, with the possibility of reducing it to THB30 million or less. The 60-day correlation between gold and the baht has fallen from as high as 0.85 last year to 0.30 in April. Physical gold withdrawals above 2 kg have also fallen about 70% after reporting requirements were introduced. 

Market indicator: The baht was around 32.93/USD, down 0.23% Friday morning. 

Why it matters: This is becoming a structural FX-policy issue, not simply a gold-market regulation. A persistently strong baht threatens Thai exporters and tourism competitiveness, so the BOT appears increasingly willing to intervene indirectly through the gold channel.

Read the latest BOT gold-market report

2. Thai stocks enter Friday cautiously after SET closes at 1,600.70

New development: Thai brokers expect a sideways SET market Friday as investors await Federal Reserve Chair Kevin Warsh’s Jackson Hole speech. Kasikorn Securities puts immediate technical support at 1,590 and resistance at 1,610. The SET closed Thursday at 1,600.70, down 0.08%, with trading value of THB65.27 billion. 

Key catalyst: Better-than-expected Thai exports are supporting electronics, rubber and pet-food stocks, while global technology strength is providing another positive factor for Thai electronics names. 

Why it matters: The combination of improving export momentum and a still-low domestic policy rate creates a potentially supportive environment for Thai equities, but today’s Fed signal could dominate local fundamentals.

Thai stock-market outlook for 28 August

3. Toyota investment competition exposes an ASEAN weakness

New development: Indonesia and Thailand are competing aggressively for Toyota production investment. Jakarta has offered Toyota extensive incentives and regulatory concessions, questioning why Thailand remains ASEAN’s automotive manufacturing hub despite Indonesia’s much larger domestic market of nearly 290 million people. 

Indicator: Thailand’s advantage remains its established automotive ecosystem and export infrastructure, while Indonesia is trying to leverage market scale and stronger incentives.

Why it matters: This is more than a Toyota story. It highlights the continuing tension between ASEAN economic integration and national competition for FDI. For Thailand, maintaining its automotive hub status will depend increasingly on EV supply chains, incentives, logistics and local manufacturing depth.

The Jakarta Post analysis

4. China manufacturing likely contracts again

New development: A Reuters poll expects China’s official manufacturing PMI to rise slightly from 49.2 in July to 49.6 in August, but remain below the 50 threshold separating contraction from expansion. The official figure is due Monday. 

Other indicators: China’s Q2 growth slowed to 4.3%, below Beijing’s 4.5–5% annual target range. July industrial output and retail sales also slowed, while new yuan loans recorded a record contraction. Beijing has opened an 800 billion yuan ($119 billion) policy-financing facility for local-government projects. 

Why it matters: China’s weak domestic demand remains a major regional risk. For Thailand and ASEAN, the key offset is China’s continued strength in high-tech manufacturing and exports linked to the global AI investment boom.

Reuters: China’s August manufacturing outlook

5. South Korea remains Asia’s semiconductor bellwether

New development: South Korean exports are expected to rise 62.6% year-on-year in August, according to a Reuters poll, extending the export-growth streak to 15 consecutive months. July exports rose 63%. Imports are forecast to increase 24.7%, producing an estimated $30.74 billion trade surplus. 

Driver: Semiconductor demand, particularly AI-related memory chips produced by Samsung Electronics and SK Hynix, remains the key engine.

Why it matters: Korea is an important leading indicator for Asia’s technology cycle. Sustained semiconductor exports suggest that the AI investment boom continues to support Asian manufacturing even while China’s domestic economy weakens. Thailand’s electronics-export story is therefore worth watching closely.

Reuters: South Korea’s August export outlook

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“It’s a distortion of real pressures. When I’m analysing trends around men…they are wanting to lean into what being a man means. In many cases strength, loyalty, protection. Those are not bad values. Those are being exploited, weaponised, and redirected in order to either sell a product or sell an idea.”

Marianna Spring and Matt Shea speak to Kristina Wilfore, Director at Reset Tech, about their new report into the so-called ‘Male Grievance Industry’, which Kristina says is capitalising on the loneliness, economic anxiety, and identity of men. She argues it’s a growing business on social media which defrauds men by targeting them with content that distorts the real pressures they face.

She also reveals new data about looksmaxxing, the extreme cosmetic social media trend, which shows how just 216 accounts drove 14.6 billion views on this type of content within the last two years.

Thank you to the Top Comment team for its help in making this programme.

The Interview brings you conversations with people shaping our world, from all over the world. The best interviews from the BBC, including episodes with Hunter Biden, son of former US President Joe Biden, head of the World Meteorological Organisation Celeste Saulo, and independent Russian journalist Dmitry Muratov. You can listen on the BBC World Service on Mondays, Wednesdays and Fridays at 0800 GMT. Or you can listen to The Interview as a podcast, out three times a week on BBC Sounds or wherever you get your podcasts.

Presenter: Marianna Spring and Matt Shea
Producer: Cordelia Hemming
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Get in touch with us on email TheInterview@bbc.co.uk and use the hashtag #TheInterviewBBC on social media.

(Image: Kristina Wilfore. Credit: Photo by Rachel Hofer)

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