Estonia’s e-Residency – 10 ways e-residents are adapting their businesses during the crisis

From the covid pivot to R&D: results from our community survey on the impact of coronavirus

 

A few weeks ago, e-Residency surveyed you — our community members — to see how you’re doing right now. Thank you for your overwhelming response. With over 1,500 survey completions and a wealth of information shared, thank you for giving us very personal insights into the challenges you’re facing right now and your hopes for the future.

We’ve started to go through the valuable data gathered from your survey responses to both gauge the mood of our community and to analyse what you expect from e-Residency. In the coming weeks, we’ll be sharing our analysis of the survey results. This blog post is the first in this series.

This blog post focuses on how COVID-19 is impacting e-residents and how they are adapting their businesses in response. We’ve heard some word-of-mouth examples, like Vicky from Vistalworks tackling the increase in online scams and misinformation created by the crisis, and Georg and Ian from Mansiontech pivoting to new revenue streams to fortify their digital marketing business.
The survey confirms that the ‘covid pivot’ is more widespread.

In fact, equal proportions of e-resident business owners who responded are either adapting their businesses or continuing business as usual. Based on the responses of those adapting, we’ve identified ten different ways they are doing so. These range from survival tactics to shutdown, from going virtual to pivoting to new products, markets or clients, and from helping those in need to focusing on self-improvement.

The survey also confirmed that e-Residency has made it easier to undertake these activities during the crisis as it is ready made for running a borderless business remotely, supporting a lean and agile company setup, and focusing on creating value.

Continue reading the survey’s report on the E-Residency Blog