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Haikou Jiangdong New Area
dpa

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Coronavirus undermines financial situation - Start-ups in the crisis

June 03, 2020


Abstract : According to experts, the coronavirus crisis could threaten the existence of many start-ups in the southwest of Germany.

According to experts, the coronavirus crisis could threaten the existence of many start-ups in the southwest of Germany. A few weeks ago, the Federal Association of German Start-ups conducted a survey -- it found that 70 percent of the 1,000 start-ups surveyed were concerned about a threatened existence. "We are on the verge of a start-up extinction if the promised aid measures do not reach the start-ups quickly," said association president Christian Miele.

The start-ups particularly affected are those in the travel, events and catering sectors, Peter Lennartz from the auditing company EY in Stuttgart says. Food delivery services or software start-ups, on the other hand, are seeing greater demand. These start-ups often do not make a profit and are dependent on the support of investors.

According to association president Miele, liquidity problems are particularly problematic for start-ups. If sales fall away and investors become more cautious, then start-ups with few reserves will be hit particularly hard. Lennartz from EY points to the start-ups that are dependent on "fresh money" and are in the presentation phase for investors.

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Keyword: Germany start-ups

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