I say go for it as well. If you have the drive and ambition to want to succeed then you will. When we took over our business nearly ten years ago our accountants told us it was financial suicide becaues it was in a similar state of afffairs to the place you're thinking of taking over. We completely turned that around in its first year and grew very quickly.

Credit crunch, credit smunch - it's all a load of bollocks. However the media scaremongering will affect some people so it does depend on the area that you are in and your customer profile.

Good luck!