Well it is harsh all over
It depends how a business big, medium or small is financially structured.
Most of them have been given to bad management, that either fails to see the whole of the endeavour whilst not accounting as a cost centre, or quite simply they have made the school girl error of assuming that interest rates would remain low and the availability of credit would flow forever.
Frankly it is just bad management that is rife throughout the entire UK, it is hilarious. Still, the banks will open their coffers, and they will want collateral, that will mean stock or property holdings. Now property is what most of the small businesses have, and it is dropping away like crazy, so it might be prudent to value at today prices and stake your house or premises, but you will have to restructure after a move like that. Stock, well the banks will value that low, so you may end up having to shift a few seasons for the bank's enjoyment.
See they never lose, even when they do lose, they get bailed out, absolutely ridiculous, but there you go the banks will march in and grab some useful assets right now, at bargain prices, and everyone will have to work that little bit harder to get a crumb on the table, well everyone apart from the bankers.
If you are going to grow a business, you either need investors, and there are quite a few looking for deals at the moment, or your own cash, and a shed load of expertise that is realistic, not based in cloud cuckoo land. The credit will come back, and the bubble will be bigger than ever the next time, but it will be a few years, the market wants realism at the moment, well it always do. But of course most spiral between elation and depression, so the pessimists are about to take a beating now.