Brazil: COVID-19 impact on startups 2020
According to a survey on the impact of the COVID-19 pandemic on the Brazilian startup ecosystem, 60 percent of the startup executives surveyed said that their company had reduced office costs as of April 2020. Around 59 percent of the startup founders or directors who participated in the study foresaw a revenue decrease since the outbreak. Another 52 percent of respondents admitted having renegotiated contracts with suppliers due to the economic crisis spawned by the novel coronavirus, while 25 percent had fired employees or reduced their working hours.
