Starting a business at any time can be a daunting prospect let alone in a recession however this guide from business link might help you evaluate the situation before you make the decision.
http://www.businesslink.gov.uk/bdotg/action/layer?r.s=tl&r.l1=1073858805&r.lc=en&r.l2=1073859137&topicId=1081895212
Hope it helps!
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