Michael Wagner in Startup Savant: What Bank Failures Mean for Startups

The recent collapse of Silicon Valley Bank and Credit Suisse could be affecting early-stage businesses.

According to Startup Savant, even startups that were not banking at SVB and Credit Suisse could be feeling the ripple effects, and there are some things young companies should keep in mind when it comes to protecting cash moving forward.

To learn more about how impacted startups can weather the storm, the publication turned to Omnia Family Wealth Co-Founder Michael Wagner.

“It’s a negative for business formation,” Wagner told the publication. “It’s just going to be harder to fund a new business. Credit is drying up.”

To read the full article, including expert insights into where early-stage businesses should put funds, click here.