One-fifth of start-ups not planning to be back in the office this year

A number of companies in London have had employees working from home since the Covid-19 lockdown started

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Joanna Hodgson17 July 2020

One-fifth of start-ups do not expect to return to the office from the Covid-19 lockdown before the end of this year, a new study showed on Friday.

London-based venture capital firm Beringea and investor Connect Ventures, asked the leadership teams of 31 companies that employ more than 1250 people across 8 countries, about returning to the office.

As at June 90% of the respondents said they had an entirely remote workforce.

UK firms saw staff start working from home in March when the coronavirus crisis deepened.

The survey results showed 80% of startups expect to return to the office before the end of 2020.

Just over two fifths (41%) felt that their entire workforce could continue to work remotely, while only 12% believe productivity had suffered due to working from home. However, 45% think that the mental wellbeing of their teams had been negatively impacted.

Some respondents pointed to difficulties such as a lack of face-to-face interactions, challenges around work-life balance and the stress of isolation.

Karen McCormick, chief investment officer of Beringea, a backer in firms such as retail data company Edited and jewellery brand Monica Vinader, said: “Our portfolio companies have successfully embraced remote working and demonstrated a remarkable flexibility during a tough period. However, working from home is not always an easy environment.”

McCormick added: “We will now be working with our portfolio to build the processes and practices that enable a safe return to the office where it makes sense for the company and its employees.”