Philip has departed for warmer climes – all founders need a break from time to time. It has been left to me to make sense of the week's events (thank you, Philip).
Super Saturday began auspiciously and with unexpected victory – for the England rugby team. Politically, however, we witnessed an anticlimax to rival season eight of Game of Thrones. The Letwin Amendment, an "insurance policy" to ensure Britain would not crash out of the EU without a deal, passed by 322 to 306. On Titanic Tuesday the bill seeking to put into law Johnson's deal was passed by MPs, but just 20 minutes later they voted against the government's programme motion. The compressed timetable – essential fo the Prime Minister to stay true to his "do or die" rhetoric – was rejected.
We are now told that Johnson will launch a fresh bid to hold a general election on 12th December to "get Brexit done". His fate is partly in the hands of EU leaders, who today agreed to a delay of unspecified duration. Of course, passing the Withdrawal Agreement will be just the beginning. Some fear that, having taken 40 years of membership to get to this point, it will take another four decades for us to untangle ourselves from the world's largest economy.
Unlike the focus group who were stunned into silence on Monday when informed that the wrangling, double-dealing and persistent threat of crashing out without a deal after the transition period are set to go on and on, entrepreneurs know all too well that we're staring down the barrel of medium to long-term uncertainty.
Looking Up
That's the bad news. But as Jimmy McLoughlin, former special adviser to Theresa May, wrote in The Times this week, it has never been easier to start a business – regardless of demographic or geographical location. Some entrepreneurs thrive in uncertain economic conditions while large companies decrease investment: see Microsoft or Apple, both started during recessions.
Fifteen years ago, McLoughlin explains, entrepreneurs needed relevant experience and the support of a local chamber of commerce to turn an idea into reality. "It was likely you quit your job on the Friday and started your business on the Monday." Today, two-thirds of founders start up while in full-time employment.
Citing our Future Founders research, McLoughlin draws attention to the fact that just 15% of young people say they've never thought about starting a business (and never will). Over half of 14-25 year olds, meanwhile, have thought about starting (or have already started) a business. Call it the end of the job for life. Call it progress. McLoughlin calls it a revolution.
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