In the advent of the protracted economic down-turn resulting from the pandemic, struggling businesses are looking for an infusion of capital in order to stay afloat. That’s where SickCompany comes in.
On the surface, startups seemed to be minimally affected by the pandemic–primarily due to the ability of many employees to telecommute. However, some investors are holding back on funds for startups that show slight risk…at least until the economic climate takes a turn for the better. For companies with a well-established customer base or a unique (specialty) product that has limited competition, business can subsist for a few months without marketing. However, most commercial ventures are highly susceptible to customer attrition. Some businesses are curbing costs to prolong their solvency (so as to weather the storm until it passes). Innovative technological solutions may be implemented to address this dip in demand.
Social distancing requirements have entailed a massive pivot to tele-commuting and online commerce. Consumers have shifted their consumption patterns toward digital products and online services (e.g. streaming vs. cinemas). This change has hurt businesses that depend on in-person patrons—especially brick and mortar retailers and entertainment venues. SickCompany is there to connect enterprises that are faltering with vital sources of capital.