Question

Easay on the topic entrepreneurship relation with covid 19. ​

Answer 1

More than 70% of start-ups have had to terminate full-time employee contracts since the start of the COVID-19 pandemic;

Many entrepreneurial businesses have pivoted to meet new needs for goods or services borne out of the crisis;

The way entrepreneurial business models and approaches are affected by the pandemic will have an impact on how entrepreneurship is perceived as a job choice in the future.

The onset and spread of COVID-19 have left few people, if any, unaffected. Governments the world over have been repeatedly tested and stretched. They have set new rules and norms to try to re-establish confidence and give economies a chance of survival

Less noticed and discussed, however, is the impact of the pandemic on entrepreneurial businesses. As sources of finance dry up, more than 40% of new ventures will fall into the so-called “red zone” with only enough cash for three months or less of normal operations.

Since the beginning of the crisis, more than 70% of start-ups have had to terminate contracts of full-time employees.