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Tech Nation COVID-19 Survey Results

The results are in from Tech Nation's COVID-19 Survey featuring data from 116 UK startups and scaleups.

Highlights include:

CASHFLOW IS AN IMMEDIATE PRIORITY FOR ALL BUSINESSES

77% of companies said cashflow was being impacted (up from 70% last week)

BUT SALES ARE INCREASINGLY BEING IMPACTED FOR ALL BUSINESSES

80% of companies said securing new customers was being impacted (44% last week)

AND MORE COMPANIES ARE PLANNING TO LAY OFF STAFF

40% of companies said they were planning to lay off staff (15% last week)

GRANTS PREFERRED TO LOANS

46% of companies would like Government to provide loans, while 88% of companies would like Government to provide grants

MAIN GOVERNMENT INITIATIVES ARE PROVING NECESSARY

60% of companies plan to access loan scheme and/or job retention schemes 
Of which 57% plan to access loan scheme, 78% job retention scheme

BUT STARTUPS ARE LESS LIKELY TO APPLY...

53% of startups do not intend to access loans or retention scheme as opposed to 26% of scaleups 

Read the full report:

View Presentation

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