Adapting technical support to meet the challenge
As COVID-19 relocations from a health crisis to a recession, we are trying to expect how small companies around the world will weather this storm and where we require to focus our efforts.
LCGC deals with micro, small and medium-sized enterprises (MSMEs), mostly in the developing world. The common small company we work with utilizes between 10 and 20 people, is close to or is currently export-ready, and wishes to grow worldwide. These MSMEs represent 60% -70% of tasks in establishing countries and around half of financial activity ¹. Additionally, they tend to employ young individuals and ladies.
It is still too early to approximate how deeply the pandemic will affect our core constituency. Little services are currently or will quickly deal with a liquidity crisis, which might eliminate whole sections 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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