William Chase, founder, Chase Distillery and Tyrrells Potato Chips

Banks have an obligation to help the little guys. They have a responsibility to help get the economy growing again. Now that I have money, I know I could go to a bank and borrow as much as I wanted. But when I was starting out and needed financial help, banks wouldn't give it to me. As the government largely owns two major banks, it should underwrite loans to small business.

At the same time, those who want to borrow money should offer personal guarantees, and their ideas and plans should be properly checked. It's right that the government has to make cuts, but supporting small firms and helping businesses launch should be a priority.

The government should be forcing the banks it controls to lend cash. This should not be done by regulation, but I think the government should name and shame those banks that aren't doing everything they can to help small firms. They have a moral responsibility to do this. We should know which banks are, and aren't, doing their bit.

The simple truth is that the amounts involved in getting these businesses going are often quite small. This sort of seed capital can affect the ability of the economy to grow. Success breeds success, and the UK government could learn from governments in other European Union countries, such as France, that make much more effort to encourage banks to support small businesses.

In particular, the government should force banks to lend to businesses that show evidence that the money would be used to develop new export markets. UK brands are seen as cool across the world, from the US to China and India. If banks were forced to lend to these companies, they would be in a stronger position to make stuff to export. It's only by growing exports that we'll expand the economy.

Angela Knight, chief executive, British Bankers' Association

Banks want to lend to customers when they have a sound business plan and realistic proposals to repay the loan. Forcing banks to lend, when there is limited demand, results in loans made at the margins leaving customers struggling or, worse, unable to repay. Our evidence shows that people are paying back existing commitments rather than taking on anything new. And, many businesses require no borrowing at all.

This may not be the picture everyone sees, and I accept banks need to work harder to ensure customers have confidence that a sound business proposal will be met with a "yes". As the economy slowly improves, demand for finance is likely to return. And when it does, banks must be ready with the finance to meet that need. So, over the summer, the six largest UK banks looked at how best we could support business in a collaborative way. The Business Finance Taskforce reported to the government last month, setting out how we can improve access to finance.

Our action list is wide-ranging. At one end there are things such as creating a national network of mentors to help guide customers through the process of securing credit. At the other we aim to build over several years a new £1.5bn business growth fund that will fill a gap in the market, providing capital for viable businesses wanting to invest and grow.

This document is a promise to government, to business groups and our customers. Our doors are open and finance is available for viable projects. No one wants to see forced lending just to reach an arbitrary target.