The global Corona pandemic threatens a large number of Nordic start-ups and entrepreneurs and their very existence.
A new survey from
In addition to declining sales, the global economic downturn triggered by the spread of the virus means that companies in the start-up and growth phase are facing difficulties obtaining the necessary funding to escalate continued growth.
Via the Hub- the largest start-up portal in the Nordic region, facilitating recruitment of employees and investors -
'For many start-ups, this is the first time they are facing a financial crisis and therefore their experience to draw on here is zero. In addition, many do not operate assisted by professional specialist, which is why all decisions must be taken by the founders themselves', says
'In many cases, their financial situation is already fragile, so liquidity shifts - even though for just a few months - can be very critical. Finally, the opportunity to raise venture capital may be limited during an economic crisis, with investors focusing primarily on their existing investments.'
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The study from TheHub also shows that more than every third start-up is forecasting the need to reduce staffing during 2020 as a direct consequence of the Corona crisis.
'We need to make sure that the crisis in relation to COVID-19 does not remove the basis of existence for these companies, meant to secure growth and jobs in our society both now and in the future. In
Facts about the survey
The survey has been running since
The purpose is to get the start-ups themselves out into words how the Corona crisis is actually affecting their business.
The article is based on responses from 468 participating start-ups in four countries:
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