Finance is the bloodstream for growth of any business. Cut it and, unless a business sits on a big pile of cash, growth is significantly curtailed. The second half of 2011 and most of 2012 were not particularly impressive as to the opportunities for Ukrainian businesses to raise finance. Showing some life in 2011, international capital markets completely closed down for Ukrainian businesses and banks lost or significantly restricted their appetite for Ukrainian risk in 2012. However, excessive dwelling on the negative side of things, particularly those beyond one's control, is counterproductive.