Adapting technical help to satisfy the difficulty
As COVID-19 relocations from a health crisis to a recession, we are attempting to anticipate how small businesses around the world will weather this storm and where we require to focus our efforts.
LCGC works with micro, little and medium-sized enterprises (MSMEs), mostly in the developing world. The normal small company we work with employs between 10 and 20 individuals, is close to or is currently export-ready, and wishes to grow internationally. These MSMEs represent 60% -70% of tasks in establishing countries and around half of economic activity ¹. Furthermore, they tend to use young individuals and females.
It is still too early to estimate how deeply the pandemic will affect our core constituency. Small companies are already or will quickly deal with a liquidity crisis, which could erase entire segments of the economy. In the next few months, they will deal with a range of obstacles that will depend, to a big degree, on how policymakers react to the crisis today.
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