Adapting technical assistance to fulfill the difficulty
As COVID-19 moves from a health crisis to a recession, we are trying to expect how small companies all over the world will weather this storm and where we require to focus our efforts.
LCGC deals with micro, little and medium-sized enterprises (MSMEs), mostly in the developing world. The normal small service we work with utilizes between 10 and 20 individuals, is close to or is already export-ready, and desires to grow internationally. These MSMEs represent 60% -70% of jobs in developing countries and around half of economic activity ¹. Additionally, they tend to utilize youths and females.
It is still too early to approximate how deeply the pandemic will affect our core constituency. Small businesses are currently or will quickly face a liquidity crisis, which could erase entire sections of the economy. In the next few months, they will deal with a variety of difficulties that will depend, to a large degree, on how policymakers react to the crisis today.
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