Established for the purpose of providing startups in London advice and expertise during the outbreak, the TLA Resource Hub has been backed by representatives from companies such as Hiscox, KPMG and Merian Ventures.

The service will include the following features:

• A directory of expert consultants offering free advice
• Online resources providing practical advice
• Blogs from industry experts
• A weekly Zoom clinic to encourage networking
• TLA Surgery, an upcoming podcast dedicated to advice on funding access, employee engagement, insurance claims and other issues

“The London tech community has weathered a great deal of uncertainty throughout Brexit negotiations and elections, but unfortunately this looks set to stay,” said Russ Shaw, founder of Tech London Advocates.

“Tech businesses in the capital, and in particular early stage start-ups, are fearing for the worst, so it’s crucial that the industry collaborates and shares resources to sustain its global status in the long-term – that’s what the TLA Resource Hub is trying to achieve.

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“The Chancellor has already announced landmark legislation, but it’s important that support reaches tech firms quickly to sustain the fastest growing sector of the UK economy.”

Over half (53%) of participants in a TLA survey said that ‘survival’ sums up the focus of their business plan over the next three months, while 32% said that they expected ‘stagnation’.

In terms of possible long-term effects, 49% declared anticipation of their company or employer’s viability being threatened by the COVID-19 pandemic.

When asked about preferred intervention from government going forward, 40% said that deferred payments and tax relief would be best, while 27% preferred Government guaranteed loans, and 22% expressed a need for assistance with employees, including free training schemes and funding for temporary layoffs.

However, 75% of respondents agreed that the tech sector has a major role to play in the fight against COVID-19, due to the capability of developing and using AI, fintech and healthtech platforms.

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