As the world economy continues to falter due to the COVID-19 pandemic, thousands of businesses and millions of jobs are on the line. On the other side, layoffs and salary cuts have started happening in many tech companies to date.
Recently in a survey, conducted by Support Our Startups, around 194 Belgian startups revealed that in four weeks time coronavirus has created financial uncertainty for around 79% of the young digital companies. Also, the number of startups that report a runway from 0 to 6 months has tripled as well. Further, around 62% of startups need bridge financing due to the impact of COVID-19.