Navigating the COVID crisis

The coronavirus has negatively affected businesses all over the world. For startups, this is a make-or-break situation; only those who can adapt their business model and innovate quickly enough to meet new demands will survive.

Startups are trailblazers by nature. They fill underserved niches and enhance existing procedures, making them attractive to potential customers looking for more efficient solutions to their problems. However, during times of economic crisis, clients and investors often default to more conservative spending and slash unnecessary budgets, which puts startups – many of which operate on revolutionary models and technologies – at risk.

We have seen this happen during the current COVID-19 pandemic. The ramifications of this unprecedented event are understandably a cause for alarm among startups. On the other hand, this also represents an opportunity for entrepreneurial minds to rise to the occasion and differentiate themse