Startups will primarily cut back on advertisement spends and office expenses, apart from renegotiating contracts and restructuring salaries to tide through the turbulence triggered by the Covid-19 outbreak. The crisis and the subsequent lockdown have dealt a body blow to most startups, many of whom have seen their turnover drastically hit in the past one month.
A survey of 274 entrepreneurs and investors conducted by 100X.VC, an early-stage fund, concluded that rationalising ad spends and office expenses were on the top of the mind of entrepreneurs to reduce burn; 36% said they would opt for salary restructuring and 19% would resort to downsizing.
Read More: Reducing ad spends, pay cuts on startups’ agenda
- 100X.VC Team
Published on: April 14, 2020