Covid-19 impact: 42% start-ups, small biz out of funds or in shutdown stage
Only 16 per cent of start-ups and SMEs have the cash to survive for more than three months
 "Covid-19 impact: 42% start-ups, small biz out of funds or in shutdown stage")
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According to a survey by LocalCircles, only 16% of start-ups and SMEs have the cash to survive for more than three months.
Since the start of the lockdown, start-ups and SMEs have seen a drastic fall in revenues, leading to layoffs and furloughs. "They have been scampering to reduce cash burns in the race for survival," said the survey.
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