About 70% start-ups impacted by Covid-19, 12% shutting operations: Survey

43 per cent of start-ups have already started salary cuts in the range of 20-40 per cent over the period of April-June 2020, it said.

A survey of 250 start-ups has revealed that the Covid-19 pandemic has had an unprecedented impact on the business, with 70 per cent saying that their business has been impacted, and some of them shutting operations.

The survey on the 'Impact of Covid-19 on Indian Start-ups' conducted by Ficci jointly with the Indian Angel Network depicts that only 22 per cent of the start-ups have cash reserves to meet fixed cost expenses of their companies over the next 3-6 months.

"70 per cent of start-ups stated that their businesses have been impacted by Covid-19. 12 per cent of the start-ups