Adjusting technical assistance to satisfy the challenge
As COVID-19 relocations from a health crisis to a recession, we are attempting to expect how small companies all over the world will weather this storm and where we need to focus our efforts.
LCGC works with micro, small and medium-sized enterprises (MSMEs), primarily in the developing world. The typical small company we deal with uses in between 10 and 20 people, is close to or is already export-ready, and desires to grow internationally. These MSMEs represent 60% -70% of jobs in establishing nations and around half of economic activity ¹. Additionally, they tend to use young individuals and ladies.
It is still too early to approximate how deeply the pandemic will impact our core constituency. Small services are already or will quickly deal with a liquidity crisis, which could eliminate whole segments of the economy. In the next few months, they will deal with a series of difficulties that will depend, to a big degree, on how policymakers react to the crisis today.
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