If you want to get ahead, get a plan

All credit (if you'll excuse the pun) to the Government for turning the thumbscrews on banks reluctant to lend money.
But a chat I've had today with George Cowcher, the chief executive of Derbyshire and Nottinghamshire Chamber, suggests money is not the only problem.
He told me: "The weakness in all this is are there really good business propositions being put to the banks that will take up all of the lending?"
A number of banks have told Cowcher that companies have asked for money to back their existing business plans – when those same business plans clearly aren't working.
The smart businesses have already woken up to this and revised their business plans to reflect new circumstances and new opportunities.
But others appear to think that if the Government says 'lend' they can go down to the bank and come back with some money. They're in for a nasty shock.
Cowcher pays tribute to the Government's "desperate efforts" to clear the logjam in bank lending, and believes its decision to underwrite some lending will make some difference.
However, he – and others – are still wondering whether what the Government has announced today will be enough.