As more or less everyone on the world will surely be aware, the recession that we are currently experiencing is one of the worst in history. The last time we saw one this bad it took the second world war to get the economy back on track, lets hope we dont have to have another one of them to sort this one out.

That I can see, there have been three main causes for this downturn in the economy, and one solution to get things back on track again. This is known as the four "M"s theory.

I believe that the first factor that helped cause this recession is Mr. Mervyn King. He clearly doesn't even realise how much of an impact his statements have or the mayhem and panic that they have caused. The second "M" to blame, perhaps more so than the others, is the media.

I believe that both of these factors should be willing to take most of the blame for the situation we all find ourselves in. The media are simply exacerbating matters with their constant negativity and messages of doom. It is enough to make the best of businessmen panic.

The third factor that I believe is to blame for the downturn is the lack of financial support all round from the banks (money being the third "M"). Banks seemed to get lazy during the years of growth and ended up somewhat distancing themselves from clients. In the hope that it would have positive implications on small businesses, the government offered to help out the banks. But the banks, like everyone else, want to look after themselves and avoid risks, so I think if the government really want to help the smaller businesses, they should forget about the banks.

Commendable though the governments new "pay all invoices in 20 days" scheme is, they have not taken into account that all contracts will be taken by the large contractors and smaller businesses are subcontractors that don't enjoy the same high payment terms received by these larger contractors.

Enough talk of who and what is to blame for this situation, what can small businesses do to stay afloat in these difficult times? Well, as I believe that there are opportunities to be had from recession and that it's not all bad, the fourth "M" is marketing.

In the times of economy growth we all, like the banks, become lazy as customers fall through the door of their own accord, now we suddenly have to work much harder. Businesses MUST continue to market themselves during these times, and the ones that do (judging by the recession of 91) will be the ones that on top of the competition for years afterwards.