Analysis

July 8, 2020

In data: The impact of Covid-19 on Europe's startups

European startups have turned to government-backed loans and freezing hiring to combat the effects of the coronavirus crisis, but it's not all bad news.


Almost half (49%) of European startups have turned to banks for government-backed loans in recent months, while 43% have frozen hiring, according to a recent survey carried out by LocalGlobe and Dealroom. The survey also found that 40% of European companies expect to see revenues down at least 25% in 2020, compared to previous targets.

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% of companies applying for, or considering applying for, government R&D grants in the next 12 months
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35% of companies surveyed saw revenues decline by over 25% in March/April
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Fundraising targets have been affected by the coronavirus
Money in the bank, in months
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