Adjusting technical help to satisfy the obstacle
As COVID-19 relocations from a health crisis to a recession, we are trying to anticipate how small companies all over the world will weather this storm and where we need to focus our efforts.
LCGC works with micro, little and medium-sized business (MSMEs), primarily in the developing world. The typical small company we work with uses between 10 and 20 individuals, is close to or is currently export-ready, and wants to grow globally. These MSMEs represent 60% -70% of tasks in developing countries and around half of economic activity ¹. Moreover, they tend to employ youths and ladies.
It is still prematurely to estimate how deeply the pandemic will impact our core constituency. Small companies are currently or will quickly deal with a liquidity crisis, which could eliminate entire sectors of the economy. In the next few months, they will face a variety of obstacles that will depend, to a big degree, on how policymakers respond to the crisis today.
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