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The next 6 months are crucial for the survival of startups

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Over 42% of the startup companies in Bulgaria say that they face a moderate to high risk of bankruptcy in the coming 3 months.  

75% say they are afraid this may happen in the next 6 months. The survey is by the Bulgarian Startup Association and the Bulgarian Small and Medium Enterprises Promotion Agency. 2/3 of the companies expect a drop in revenues of 40% and over. 63% are planning staff cuts. 2/3 of the startups say they need rescue financing of EUR 10,000 –100,000 from banks or from the state. 1/3 are expecting government procurement contracts or tax breaks to save them. 

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