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
Characteristic
Share of respondents
Decrease in office costs
60%
Changes in revenue*
59%
Renegotiation of contracts
52%
Cancellation or reduction of marketing and sales costs
46%
Reduction in the number of costumers*
44%
Reduction in the number of employees or working hours*
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Startupi, & Whow!. (May 12, 2020). Impact of the COVID-19 pandemic on startup companies in Brazil as of April 2020 [Graph]. In Statista. Retrieved November 26, 2024, from https://www.statista.com/statistics/1173192/coronavirus-impact-startups-brazil/
Startupi, und Whow!. "Impact of the COVID-19 pandemic on startup companies in Brazil as of April 2020." Chart. May 12, 2020. Statista. Accessed November 26, 2024. https://www.statista.com/statistics/1173192/coronavirus-impact-startups-brazil/
Startupi, Whow!. (2020). Impact of the COVID-19 pandemic on startup companies in Brazil as of April 2020. Statista. Statista Inc.. Accessed: November 26, 2024. https://www.statista.com/statistics/1173192/coronavirus-impact-startups-brazil/
Startupi, and Whow!. "Impact of The Covid-19 Pandemic on Startup Companies in Brazil as of April 2020." Statista, Statista Inc., 12 May 2020, https://www.statista.com/statistics/1173192/coronavirus-impact-startups-brazil/
Startupi & Whow!, Impact of the COVID-19 pandemic on startup companies in Brazil as of April 2020 Statista, https://www.statista.com/statistics/1173192/coronavirus-impact-startups-brazil/ (last visited November 26, 2024)
Impact of the COVID-19 pandemic on startup companies in Brazil as of April 2020 [Graph], Startupi, & Whow!, May 12, 2020. [Online]. Available: https://www.statista.com/statistics/1173192/coronavirus-impact-startups-brazil/
