Concordia Magazine 2025

What makes a founder

Looking ahead

There is no single type of business founder. The most successful start-ups I have seen are co-founded by people whose skills complement each other. What matters most are passion and resilience: you have to believe the problem you are solving is worth your devoting many years of your life, often with little pay or recognition at the start. Financial literacy is another essential skill. Many great ideas fail simply because the figures do not add up. Through the Merchant Taylors’ Company’s Livery Academy Awards — a sort of Dragons’ Den for schools — I have seen how valuable it is to give students hands-on experience in understanding basic finance. It is worrying that only a small fraction of adults in the UK can answer basic financial questions correctly and that 16- to 18-year-olds perform particularly poorly. That is something we can change. Advice for aspiring entrepreneurs My advice to MTS students is simple: pressure-test your ideas before spending any money. Build something people want — and will pay for. With the new generation of AI tools, including ‘vibe coding’ for non-coders, it is easier than ever to launch a minimum-viable product and present it to potential customers quickly.

Following the sale of Tranch and the subsequent acquisition of our buyer earlier this year, I have taken a few months to focus on civic work as a Common Councillor and Freeman of the City of London — and to see a little more of the world. The legendary Mr Colley always said ‘ask a busy person when you need something done’. I am upbeat about the future. I think there is a real sense of hustle returning to the UK — a renewed optimism about building businesses, supporting the next generation and funding philanthropy. For the UK to succeed we need both growth and confidence. Technology will continue to be a key enabler; we need to equip our young people with the skills to embrace technology while also developing communication skills and financial literacy. For this reason, on 17 March 2026 , the School will be running an Entrepreneurship Convention (read more on page 57); I urge volunteers to get involved if this something to which they would like to contribute.

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