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Startup Business Has Suffered A Lot Due To Lockdown: Survey

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Ever since the lockdown is implemented in the country, there are speculations that this will cause huge losses to businessmen and the economy. But how much its real loss will be, it is difficult to say. Now meanwhile, a recent survey has revealed that the startup business has suffered a lot due to the lockdown.

Cash-strapped startup’s first test

According to a survey by LocalSarkil, 16 per cent of such organizations said that they had 3 to 6 months of cash left. In this survey, more than 28,000 participants from over 8,400 startups, SMEs and enterprises gave their opinions. In the survey, 12 per cent of people said that they had less than one month’s cash left.

Four per cent of startups are closed

The report by LocalSarkill states that four per cent said that they had already closed the business due to the lockdown. LocalSarkil in its report has assessed the impact of the lockdown implemented on India’s startup and MME for the prevention of the Kovid-19 epidemic.

According to the report, the income of many businesses decreased by more than 80-90 per cent during the last two months, after which it has become difficult for them to keep the business running. These organizations are cutting marketing and human resource costs to protect the business. In the survey, 35 per cent hoped that business would grow in the next six months, while the same number of people feared a further decrease in business. Around 14 per cent feared that their business would be shut down, while 16 per cent were quite uncertain about the future.

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