The Indian startup ecosystem is said to be one of the biggest in the world. But due to the current coronavirus crisis, its survival is a huge question mark.
As per a survey by NASSCOM, 70% of Indian startups have less than three months of cash reserves.
The coronavirus pandemic has hit the Indian startups so badly that 40% of startups have either temporary shut shops or are at higher risk of closing down their businesses.
As the government imposed lockdown restrictions to save human lives, the small businesses and startups are on the verge of dying.
As there is no revenue generation, many startups are forced to lay off their employees, cut salaries, close their branches and do everything possible to survive.
In fact, with nearly zero cash reserves, many startups are planning to shut down their businesses. Blame it on the lack of business continuity plans, zero preparation for situations like pandemic and many more.
