Today’s Topic is all about Startups Problems Due to Corona Virus Outbreak. As we all know, Corona Virus is destroying world economic growth and business revenues as well. In this drastic situation, we all are praying to normalize things as soon as possible. Every country's government is putting its efforts to get rid of this pandemic situation but still, we are not getting success in the goals as soon as possible. Do you ever think about the position of startups? The business section that affects most from Corona Virus Outbreak is none other than, only Startups. People who start their business in the recent months of 2020 are completely in a stuck situation and they don’t have any idea what to do this in this situation. Let’s talk about how startups are suffering from Corona Virus Outbreak.
Effects of Corona Virus on Stratup
1. Payments Are Stuck Right Now From Clients:
One of the big problems for startups in the Corona Virus Outbreak is Payment of these startups has been stuck. Due to the Non-Operational Days, Clients are denying for the payment at the right time (However, they promised to pay after this lockdown situation.
That means the flow of money is completely broke down in this situation for the startups. That will create lots of burden and liability on them.
2. Can’t Office Space Rents and Other Bills:
The second thing which creates lots of difficulties for startups managing business space rent and other office expenses and bills. Due to the stoppage of money flow from the market, they are not getting payments and that’s why not in a situation to pay rent of office space as well.
The problem is one of the big problems for those people who are engaging in the retail business or direct selling business because they have stock in their stocks but due to Covid-19, they can’t sell it and also have the burden of office rent without any earning of the month.
3. Loan EMIs Become Big Tension For Them!
Yes, that’s true and now they are not able to pay Loan EMIs as well. As we know, to start business people also take a loan from a financial institution to run their business smoothly for a span of time until they will not get good earning. Now, the difficult situation behind the startups in this Pandemic is how to