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

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.