Adjusting technical help to satisfy the challenge
As COVID-19 moves from a health crisis to a recession, we are attempting to anticipate how small companies around the globe will weather this storm and where we require to focus our efforts.
LCGC works with micro, small and medium-sized enterprises (MSMEs), primarily in the developing world. The normal small company we work with uses in between 10 and 20 individuals, is close to or is currently export-ready, and desires to grow globally. These MSMEs represent 60% -70% of jobs in establishing nations and around half of economic activity ¹. Additionally, they tend to employ youths and women.
It is still prematurely to estimate how deeply the pandemic will affect our core constituency. Little services are already or will quickly face a liquidity crisis, which could clean out entire sectors of the economy. In the next couple of months, they will face a series of challenges that will depend, to a big degree, on how policymakers respond to the crisis today.
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