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How Startups and Small Businesses Will Survive the COVID-19 Crisis
As the world seems to be on standstill during this worldwide pandemic, we are seeing an immediate impact on young startups and small businesses that fuel innovation and their communities.
In this time of uncertainty, many fear what the future holds for their business and livelihood. Small businesses are scaling down or temporarily closing their doors as we wait for the spread of the Coronavirus to die down, while many startups initiate work-from-home policies and experience turbulence in their markets.
While it seems opportunities are limited as the pandemic evolves, businesses need to find the silver lining in the crisis. Some of the most iconic brands have been created during a recession: Airbnb, Uber, Pinterest, Herschel, Birchbox and Headspace were all started in ’08 and ’09.
The question needs to be: how do we mitigate losses, raise funds, and find windows of opportunity in our new quarantined lifestyle?
Time to Get Creative
With panic set in about the Coronavirus and a recession seeming to be on the horizon, businesses will need to get creative to keep their ship afloat.
