It seems we are collectively going to be in debt for a long time. The good news is that the UK’s most ambitious entrepreneurs are gearing themselves up to pay off the national debt by starting and expanding new businesses as we come out of recession.

The long-term prospects for entrepreneurship in the UK are very good. I spend much of my time in schools and colleges where entrepreneurship is increasingly on the curriculum and well over half the young people I speak to have an aspiration to start their own business.