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