Hitting some turbulence

In the spirit of sharing the 'not so good' along with the great stuff happening at my startup - We have this month noticed a levelling off in our previously fantastic growth rate.

Churn has gone up from around 1 customer per month in the past to about 4 or 5 just this month so far.

We reach out to these customer as part of our customer care, and the message we are getting back is that they LOVE our system, but things are really financially tough at the moment, or in one case, we suspect the business itself is closing due to no activity in their industry sector.

This was actually something the team and I had in the back of our minds when we started getting huge growth at the start of the worldwide pandemic. We knew that the initial spike would have to be countered by a down turn when the economic reality hit a few months later.

A lot of businesses have been chugging along on government grants and subsidies during the various lockdowns around the planet, however it is coming to the end of those lifelines, and with things still uncertain, I think a lot of business will really be cutting back drastically on expenditure or closing altogether.

It is sad times, but the reality of what is happening in the world right now. Thankfully, we have not had to take a cent of government incentives during this time, and we have managed to help a LOT of companies get good HR processes in place while they have been in hibernation, using our SaaS platform. We are still growing, but not nearly at the same rate as the past few months, but still - we will carry on helping other businesses as best we can.