Regardless of the economic climate (whilst it stalls demand) – economic recovery is our responsibility, and it is futile in waiting for banks governments etc;

rather –

“More so than ever leaders of profound and resourceful technical and operational transformation will drive value creation.”

When there is less cash you just have to be far more resourceful, innovative and collaborative to launch and survive in the coming years.

Regarding banks they have pretty much stopped lending against cash forecasts and fixed assets – they will pretty much only lend against the debtor book, and with the PIGS group of countries in Europe, and other macro economic uncertainty who would blame them. VCs have vast pots of money, but they struggle to find good deals, as much depends on the stability of the top line in turnarounds and growth in more traditional investments.

The tough issue to accept like your statement “banks are at fault” is that the UK is the culture of dependency (eg the public sector), leaving a gap in resourcefulness to come back in these uncertain times. Uncertainty for those who wait for it to emerge however is a real problem as human’s don’t make decisions without a few degrees of certainty.

Sitting and waiting is not a good option either without adressing the structural issues as the deficit is increasing 10% without interest, putting us at real risk of the stagnation Japan has faced with their staggering 200% deficit over the last 10 years.

lets get on with it… regards Tom