For quoted companies these are turbulent times as the stock markets are caught in the credit crunch storm. But market watchers tell Kurt Jacobs that they spy calmer waters ahead.
Strap yourself in, grab hold of a lifejacket and hang on very, very tight - because over the next few months we're set to ride some tsunami-sized waves on the markets.
Pundits observing Midlands business on the stock markets are of a consensus that the huge fluctuations on both the full market and the junior AIM market are set to continue for some time.
Darren Boocock, corporate finance partner at Deloitte in Birmingham, says: "Expect continued volatility; uncertainty will prevail until the impact of the credit crisis is fully unwound and the economic picture becomes clearer - particularly as regards inflation, interest rates and the impact on both consumer and corporate confidence levels.
"There will be continued tightening on the availability of debt funding for corporate companies and consumers, while prices will reflect a reassessment of risk."
David Armfield, of Smith Cooper, adds: "I see 2008 being a lot more difficult than 2007, which itself was a pretty taxing year. I don't think we've seen the true affects of the credit crunch on the stock market and I see that impacting upon both consumer and business confidence, which will then affect share prices."
And most pessimistic of all is WH Ireland's Tim Cofman-Nicoresti, who says, in almost apocalyptic terms: "I think the market is in pretty dire straights. It's very hard to raise money. Trading is thin. Even quality issues are struggling. People are withdrawing from investments, which is significantly reducing the efficiencies of investment bonds. We're seeing a flight into cash.
"There's a real prospect of recession with house prices falling, bankruptcies, employment going into a downward spiral. The credit crunch is affecting all levels of business - credit to enterprise, consumer credit, pressure on mortgages. If the consumer hurts it feeds back into the economy as a whole and we go into recession.
"It's like the Titanic in the way it is being handled. The band played onx85"
Put like this and it sounds like we should all start stocking up on provisions now, arm ourselves to protect our families and head for the hills.
Yet most market watchers are quite optimistic about the long-term prospects for the stock market and the fate of Midlands businesses. The point of tides is that they rise as well as plummet, and those who hold their nerve are those who, in the long run, get the real thrill and benefit of the voyage.
This is not just wishful thinking, but based on very recent history. During 2007 the total FTSE provided a return of 7.7 per cent, fairly in line with what most investors would expect in a reasonable year. It rose 3.8 per cent if we take dividends out.
Over the year the FTSE 100 started at 6,200 and closed 6,400, but in that year it rose to 6,700 and fell to 5,850 - that was a 15 per cent swing.
Armfield says: "I think that the first half of 2007 was a very strong market in terms of business confidence up to the summer, with the continuation of a bull market and continued liquidity that was characterised day banks being prepared to lend money on light covenants and some fairly frothy debt multiples.
"Then it all ground to a halt and the market was shot by the banking crisis, which has fed into consumer confidence and stock market confidence, although markets are still reasonably strong."
What most stock watchers are expecting is for 2008 to be a mirror image of 2007, with an uncertain start to the year but improvements and calmness spreading around as we reach the summer and then on.
The common phrase is "but by the third quarter we'll see some improvements".
The hope is, by that time, there will be some form of clarity as regards the scale of the credit crunch and which banks have which bad debts.
Similarly there are hopes that consumers may start regaining some confidence, having got their Visa debts under control and they see house prices start to creep up again.
Ronnie Bowker, partner in charge at Ernst & Young, says: "The key issue on the horizon is uncertainty and businesses hate that. If interest rates settle at current levels they won't like it, but at least they can plan ahead.
"Companies over the years have been left in good shape, diversified and have taken management actions to mitigate the impact of risk. Most of them don't like the current conditions, but they're ready for them."
Damian McGann, Bank of Scotland Corporate's Midlands commercial head, says: "Last year was a game of two halves. The first half marked by very strong momentum bolstered by a wall of cash. By autumn we were looking at a different picture with liquidity becoming scarce. This year is clouded by uncertainty and, in the short term, sector sentiment looks unlikely to change materially. Some companies whose shares have been hardest hit may take the opportunity to buy back their shares and if they are currently lowly geared."
What is interesting among many of our experts is that if they see economic salvation from a far off land, it's from the East.
Cofman-Nicoresti says: "The sub-prime crisis has come out of nowhere. The Americans have been culpable in lending to people they knew couldn't pay it back. It leaks into the economy. These are banks who thought they had assets and have suddenly woken up to find they don't. Now they don't want to lend to each other. We are teetering on the edge of a hole - the question is whether China and Europe have sufficient strength to pull us out of recession."
Armfield adds: "China and India are now huge consumer societies. I think it's possibly they who will be helpful in pulling the markets back on their feet, rather than the US. This is important as there it means there is less of a direct link with us and the US because of importance of Asia."