Wonderful walk to Chapelporth and onion soup in the cafe on New Year’s Day.
Started talking to the guy who appeared to barge to the front of the queue – he did not really but took his girlfriend’s place! Tom is one of the five founders and two investors of Finisterre Clothing based in St Agnes, Cornwall, UK. I told Tom did he realise that it was very unusual to start a company outside the Cambridge Cluster with more than two founders? He looked puzzled!
But even more puzzled when I said that I was very pleased to hear that Holly who worked for him is moving to London to work for Philip Treacy the most sought after milliner in the world.
Holly has been designing and selling hats for a few years and now has her dream job with Philip Teacy. But should Tom have appreciated her talents and offered her an opportunity? Yet another tough decision for the entrepreneurs.
Let us hope that Holly triumphs at Treacy’s titfers and Tom flourishes at Finisterre!
Interesting article concluding:
The key to promoting innovation (and productivity in general) lies in allowing vigorous new companies to grow big and inefficient old ones to die.
So support efficient start ups and efficient big companies.
Big companies do have three advantages over small companies:
- economic activity is driven by big ecosystems
- globalisation puts a premium on size
- challenges for innovation involve vast systems such as education and health care.
So start in the Cambridge Cluster and sell to a big company – what we have always done?
Hat tip: Schumpeter in The Economist 17 December 2011, page 122
Founded by three university friends from the University of East Anglia, Travel Republic has ridden the wave of the move away from traditional package holidays to “dynamic” packaging – where customers assemble their own trips – on the back of the rise of low-cost airlines. 75% of the company has been bought by Dnata, Emirates’ air service subsidiary.
There is no mention in the article of an option package for staff nor of any of the 200 employees owning any shares. They may receive some comfort from the assurance that there will be ”zero redundancies”. Not quite the same as sharing in the value they have created.
What a joy it is to be part of the Cambridge Cluster where share options are common and share in the winnings. Pity that they founders did not use a business plan resource such as Equity Fingerprint.
Hat tip: The Times 4 January 2012, page 31