Adapting technical help to meet the obstacle
As COVID-19 moves from a health crisis to an economic crisis, we are attempting to anticipate how small services around the world will weather this storm and where we require to focus our efforts.
LCGC works with micro, little and medium-sized business (MSMEs), mainly in the developing world. The common small company we work with employs in between 10 and 20 individuals, is close to or is currently export-ready, and wants to grow worldwide. These MSMEs represent 60% -70% of tasks in establishing nations and around half of financial activity ¹. Moreover, they tend to employ youths and females.
It is still prematurely to approximate how deeply the pandemic will affect our core constituency. Little businesses are already or will quickly face a liquidity crisis, which might eliminate whole sectors of the economy. In the next few months, they will face a variety of challenges that will depend, to a large degree, on how policymakers respond to the crisis today.
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