“I set up my first business, a PR company, in the mid-1990s at the tail-end of an economic downturn. It didn’t even occur to me that I shouldn’t go ahead because of the financial conditions. Maybe it was the naivety of youth but I knew what I wanted to do and just did it. The dot.com crash came a few years later, but that was a minnow in comparison to what we’re experiencing now. We knew there’d need to be a simmering down at some point but no-one expected anything like this. The challenge is that we don’t know whether we’ve hit rock bottom yet. When we reach rock bottom, people will start to see a real way out and will make decisions again.