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Organizational Resilience: A Case Study of Startups From India on COVID-19-Trigged Risks, Challenges, Economic, and Regulatory Hindrances
Abstract
The COVID-19 pandemic uprooted many businesses globally and in India. The impending rise of business failures that would have liquidated many companies in India was prevented by some of the temporary regulatory and economic measures taken by the union government. This chapter aims to highlight the different issues faced by the startups in India during the pandemic and the strategies adopted by them to protect their companies from bankruptcy. The research followed a case study method. A few start-ups from the start-up hub of India-Bangalore were identified, and a survey of the CEOs, promoters, and other senior officers of these firms was carried out. More than half of the respondents participated in the survey confirmed that there have been direct impacts such as higher cost of operations, supply chain interruption, and overhead costs due to the pandemic. The respondents suggested the need for an improved response from government, deferred payment of government taxes, more funding options with smoother processing, low interest loan, and quick fund availability for start-ups.
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