COVID-19 And Startups: Is Now The Time To Panic?
In this situation of worldwide chaos, staying positive and maintaining good hygiene is the least we can do.
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The newspapers, media, social media- you name it, everything is flooded with a lot of verified and unverified details about COVID-19. What seemed like a local problem confined to only China, has actually turned out to be a Pandemic causing panic, global economic slowdown and for some people, even helplessness. While there is a lot of negativity and fearful environment building around, hearing even a little positive can be a music to the ears.
Self-isolation, which is the need of the hour, might feel extremely gloomy at times, as completely changing lifestyle and locking down oneself is quite big of a task. but the good part is, the time people are saving over commuting, socializing, etc. can be a gentle push towards their breakthrough. When you are with yourself, you can create art, business ideas, revolutionary ideas that might help you climb heights later on.
Many startup companies are facing challenges amid the COVID-19 outbreak, including a sharp decline in business activity in the past few weeks. Startups are anyway used to working remotely and make use of the online spaces to minimize cost and overheads to run their businesses. However, they are bound to consider every assumption about their future business operations, including burn-rate, fundraising opportunities, sales forecasts, supply-chain challenges, team headcount reduction, and optimizing capital spending. There are always highs and lows when you run a business, and an unprecedented event like the COVID-19 outbreak may even throw some opportunities for the startup communities to come up with a viable solution to face such unexpected threats. As the COVID-19 mercilessly wreaks havoc worldwide, locking down nations, crippling the economy and governance, the startup communities are leaving no stone unturned to find a way to survive through these tough times.
Problem Solving, resourcefulness, innovations, out of the box thinking among other traits, the startup communities are resilient, determined, creative, flexible and hard-working. The startup communities are bound to make the most out of what they have at their disposal in the current circumstances. There are many entrepreneurs at the moment who are working on technological innovations that could help in treating, testing, monitoring, and are trying to help the world to deal with the Coronavirus outbreak.
While not all companies are very enthusiastic about giving work from home, some can’t really sustain it.Nevertheless, it has come to light that there are many who can actually work in such a way with high productive rates and those who are in a dilemma are coming up with newer methods to establish an efficient workflow. There are educational institutes as well whose professors are not very well equipped with technology. But due to the desperate times, they are compelled to do virtual teaching, in which some startups are proving to be of great help in building up simple tech products. These are just a few examples of how startups might be getting fueled up to do some interesting innovations which will be looked upon in future time as well. Apart from everything, in this situation of worldwide chaos, staying positive and maintaining good hygiene is the least we can do.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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