Adapting technical help to meet the difficulty
As COVID-19 moves from a health crisis to a recession, we are trying to anticipate how small companies around the world will weather this storm and where we require to focus our efforts.
LCGC works with micro, little and medium-sized business (MSMEs), mostly in the developing world. The normal little company we work with uses in between 10 and 20 people, is close to or is already export-ready, and wishes to grow internationally. These MSMEs represent 60% -70% of tasks in developing countries and around half of financial activity ¹. Furthermore, they tend to utilize young individuals and women.
It is still prematurely to estimate how deeply the pandemic will impact our core constituency. Small companies are already or will soon face a liquidity crisis, which could eliminate whole sectors of the economy. In the next few months, they will deal with a variety of challenges that will depend, to a big degree, on how policymakers respond to the crisis today.
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