Necessity is the Mother of Invention: The Birth of Startups During a Recession

Most of us have never experienced anything even remotely similar to the situation the world is currently facing and there are a number of reasons to believe that the likely recession will be deeper than the GFC. First and foremost, the economic impacts this time around have been sudden and drastic. The ‘pause’ button has been abruptly pressed for entire sectors. If the GFC was a stroll down a hill, the COVID-19 recession is a leap off a cliff.

Things will be different this time around, but nonetheless there are certain lessons that history can teach us about how things might play out. In our latest report, we look at UK data from the GFC to better understand what the situation might look like for startups and scale-ups over the medium term and how this could impact flexible offices.