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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.

Impact of the COVID-19 pandemic on startup companies in Brazil as of April 2020

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Sources

Release date

May 2020

Region

Brazil

Survey time period

April 15 to 22, 2020

Number of respondents

234 startup founders or directors

Supplementary notes

* Data retrieved from this release.
The source does not provide information on the type of survey or the age of the respondents.

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Statistics on "Startups in Brazil"

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