The finding is part of a new survey conducted by social media and community platform LocalCircles in the wake of pandemic Bengaluru: The impact of covid-19 can be seen on businesses, as several startups including Swiggy, Oyo, Meesho, Udaan and VOGO have either laid off or furloughed their staff.
And now, with the lockdown impacting business and revenues, many small startups have reported saying that the capital in the bank has started to dry up.
According to a new survey conducted by social media and community platform LocalCircles, 47% of startups and small and medium businesses (SMEs) who participated in a survey said that they have less than one month to no capital left to operate.