The news that Britain is still officially in recession came as a blow to the gut to most forecasters.

Those who are actually doing business day to day were less surprised, but the night before the figures came out self-styled experts were all cheerily predicting that the last quarter would show growth.

Britain is now in the longest recession since the Great Depression.

Most forecasts are also negative about the growth prospects of the United States.

Meanwhile Japan, France, and Germany have been out of recession for some months, and China’s headline growth figures – although possibly more than a bit artificial – are positively spectacular.

What we may be experiencing here is not just a recession but a major shift in the economic balance of power.

Yet within that overall pattern, there are businesses that defy the trend. Some banks are doing annoyingly well. So are both Apple and Microsoft.

The way of the entrepreneur is the path less travelled. The only way we can make money is to rise above the crowd. Entrepreneurs in Britain and America will need to do that more than ever in the years ahead.

The game goes on – but the rules are changing.