Covid-19 impact: 42% start-ups, small biz out of funds or in shutdown stage



With start-ups and small businesses facing the heat of the Covid-19 pandemic, about 42 per cent of them are now out of funds or in shutdown stage, according to a survey by LocalCircles.


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Only 16 per cent of start-ups and SMEs have the cash to survive for more than three months. Since the beginning of the lockdown, start-ups and SMEs have seen a drastic fall in revenues and some of them have also announced layoffs and furloughs.



“They have been scampering to reduce cash burns in the race for survival,” said the survey.


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