The coronavirus pandemic has the potential to significantly impact the business operations of most startup companies in the Philippines, according to
A survey by Isla Lipana & Co./PwC Philippines found out that 62 percent of startup respondents have cash runway of up to six months and 70 percent say they can only sustain by up to six months if the enhanced community quarantine is extended.
About 21 percent of respondents of the 2020 Philippine Startup Survey: COVID-19 Edition, however, say that COVID-19 is positively impacting their businesses, with an increasing demand for their products and services.
The 2020 Philippine Startup Survey: COVID-19 Edition is PwC’s collaboration with QBO, the Trade Department and IdeaSpace. The study follows through on a report released in February this year that maps the Philippine tech startup scene.
PwC Philippines’ chairman and senior partner Alexander Cabrera is optimistic that the Philippine startup ecosystem will survive the pandemic.