Adjusting technical assistance to satisfy the obstacle
As COVID-19 relocations from a health crisis to a recession, we are attempting to prepare for how small companies around the world will weather this storm and where we need to focus our efforts.
LCGC works with micro, little and medium-sized enterprises (MSMEs), mainly in the establishing world. The typical little service we deal with utilizes between 10 and 20 individuals, is close to or is already export-ready, and wishes to grow internationally. These MSMEs represent 60% -70% of jobs in establishing countries and around half of financial activity ¹. Moreover, they tend to use youths and women.
It is still prematurely to approximate how deeply the pandemic will affect our core constituency. Small companies are already or will quickly face a liquidity crisis, which could erase whole sectors of the economy. In the next few months, they will face a range of difficulties that will depend, to a big degree, on how policymakers respond to the crisis today.
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