Theo Paphitis is our favourite Dragon.

Of all the successful investors on the BBC television show Dragons’ Den, he is the one we would most want as a business partner. Not only does he appear to have the best business connections and the most business savvy, he also comes across as the most rounded human being.

So it breaks our hearts to have to disagree with him when he says that – in Britain at least – start ups should be put on hold until after the General Election which is due no later than May.

Of course, he is absolutely right about one thing: politics matters to business. Much as the subject might depress us, and much as we might try to be apolitical when discussing business, the actions of government impact on every aspect of business life. That is why a blog which is dedicated to business, and which makes a conscious effort to be politically neutral, cannot avoid talking about politically contentious issues. Sorry about that, but to pretend that we could ignore politics when discussing business would not be living in the real world.

Yet Theo is wrong to suggest that the British General Election will make much difference.

Whoever emerges as Prime Minister – and there is more uncertainty about that than there has been for many years – he will have very little room for manoeuvre.

The current government has been borrowing at an astonishing rate – over £4,000 a second – in order the hide the effects of recession, but it will not be allowed to borrow for much longer. The Prime Minister, whoever he is, will soon be forced to face up to the government’s debts. That means both spending cuts and tax rises.

We do not have to wait until May to know that. We should all be aware of it now and we should all be making plans to take account of it, existing businesses as well as new start ups.

Times are going to be tough – but it must be remembered that some businesses can thrive in tough times. It all comes down to the basic idea behind the business. If your business idea is weak, or marginal, nothing is going to happen in Britain after the Election that will magically make it work. However, if you have a good idea – one that can work even in hard times, or, indeed, especially in hard times – do not waste five months. Get on with it.