This story is available exclusively to Business Insider subscribers.European software startups, a bright spot in the bloc's still-nascent tech scene, could be crippled by a predicted slowdown in tech spending for 2020.
Forrester analyst Andrew Bartels said smaller enterprise software providers lacked the financial reserves of giants like SAP to see them through a downturn.European technology spend could fall by nearly a tenth in 2020, as businesses rein in their spending and the bloc's three biggest economies move into recession — and even the burgeoning enterprise software sector will take a beating.
According to Forrester's forecast, software spend in a worst-case economic scenario would drop 8% in France, 7% in Germany, and 3% in the UK — an average percentage of 6%.Enterprise software firms are generally a reliable bet for startup investors, who bank on the predictability of revenue from monthly subscriptions or annual licenses.
She told Business Insider: "One of the more interesting calls I had was with someone who had been through two of the previous crises, so 2008 and 2001. They said the advice they were giving to all their software companies, which I find very compelling, was, 'Look, anyone that calls you and says they're thinking about cancelling ... or don't even wait for them to call you, call them up and just give them a year free.
He added that companies which raised sufficient funding in 2019 to counter their losses in 2020 would survive.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
In the US it will be 50%
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Britney Spears' conservatorship and the #FreeBritney movement - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. It sounds like her parents are living large off her misery and have her locked up to keep her from emancipating her wealth from them 🤬🤬🤬
Source: BusinessInsider - 🏆 729. / 51 Read more »
Take a look inside a historic Missouri house with nine jail cells - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. This would be a great house for those in the family that refuse to quarantine. 🤣
Source: BusinessInsider - 🏆 729. / 51 Read more »
Disney World attendance plummets 80% even as Florida cases decline - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Trump administration furious with Europe refusal to back US over Iran - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. European allies should be calling for Pompeo's arrest for aiding and abetting an obvious criminal... and he may well be yet, the obese POS. No one is going to side with him on anything (except his rabies infested followers) because they all know he's going to prison as soon as JoeBiden kicks the snot out of him.
Source: BusinessInsider - 🏆 729. / 51 Read more »
S&P 500 closes at record on better-than-expected home sales and tech surge - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Portion of the $25 billion approved for coronavirus testing was spent - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 😡😡 All these Test kits Are made in America?
Source: BusinessInsider - 🏆 729. / 51 Read more »