Adapting technical assistance to satisfy the obstacle
As COVID-19 relocations from a health crisis to a financial crisis, 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 deals with micro, small and medium-sized enterprises (MSMEs), mostly in the establishing world. The typical little service we deal with utilizes in between 10 and 20 people, is close to or is already export-ready, and wants to grow globally. These MSMEs represent 60% -70% of jobs in establishing countries and around half of economic activity ¹. Additionally, they tend to employ young individuals and ladies.
It is still prematurely to estimate how deeply the pandemic will affect our core constituency. Small companies are currently or will quickly face a liquidity crisis, which might wipe out whole segments of the economy. In the next few months, they will face a series of obstacles that will depend, to a large degree, on how policymakers respond to the crisis today.
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