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Only 31% startups and MSMEs have cash reserves to sustain beyond 3 months, says survey

Updated : January 15, 2021 08:39:11 IST

The latest survey on startups and MSMEs has thrown up some grim facts about coronavirus pandemic's impact on the sector.

The survey, conducted by community engagement platform LocalCircles, shows that only 31 percent of startups & MSMEs have cash reserves to sustain beyond 3 months. Only 21 percent startups and MSMEs benefited from government schemes in 2020, and 44 percent of startups and MSMEs plan to hire work force in 2021. To talk about the key findings of the survey, Startup Street spoke to Sachin Taparia, co-founder of LocalCircles.

Also watch Startup Street in conversation with Ashish Singhal, co-founder & CEO of CoinSwitch who spoke about the company's latest round of fund raising.

Moreover Rahul Chowdhury, managing partner at N+1 Capital and Nimesh Kampani, president at LetsVenture Plus shared their views on revenue based financing model for startups in India.

Watch video for more.
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