Depends how much cash you have. The defining feature of recessions tends to be that cash is harder to come by - it's harder to find investors, and it's harder to get people to spend money.

The flip side is that anything that cuts cost and saves people money in a recession does well. Also, if unemployment goes up, people tend to have more time on their hands, which benefits attention-based businesses. It's just that converting that to cash becomes more difficult. Advertising spending tends to drop like a rock in recessions.

If you're likely to run out of cash during the recession, don't quit, because it'll be very difficult to find more. If you have enough to make it through to the other end, you can do very well. Business activity doesn't stop in recessions, it just slows down, and you can do all the strategic aspects (building a product, getting market share, building brand recognition) just as well as in boom times. Better, really, since recessions tend to flush out competitors.