Only 31% startups and MSMEs have cash reserves to sustain beyond 3 months, says survey

The latest survey on startups and MSMEs has thrown up some grim facts about coronavirus pandemic's impact on the sector.

The survey, conducted by community engagement platform LocalCircles, shows that only 31 percent of startups & MSMEs have cash reserves to sustain beyond 3 months. Only 21 percent startups and MSMEs benefited from government schemes in 2020, and 44 percent of startups and MSMEs plan to hire work force in 2021. To talk about the key findings of the survey, Startup Street spoke to Sachin Taparia, co-founder of LocalCircles.

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