Company having bad time in recession (5)
I believe the answer is:
troop
'company' is the definition.
(I've seen this before)
'bad time in recession' is the wordplay.
'bad' becomes 'poor' (similar in meaning).
'time' becomes 't' (abbreviation).
'in recession' shows that the letters should be reversed in order (letters recede or go back).
'poor'+'t'='poort'
'poort' written backwards gives 'TROOP'.
'having' is the link.
(Other definitions for troop that I've seen before include "Military group" , "(Of people) come or go in large numbers" , "Porto (anag.)" , "Military body" , "Proto (anag.)" .)