Adapting technical support to fulfill the obstacle
As COVID-19 relocations from a health crisis to a recession, we are attempting to prepare for how small companies around the globe will weather this storm and where we require to focus our efforts.
LCGC deals with micro, little and medium-sized enterprises (MSMEs), mostly in the establishing world. The typical small company we work with utilizes in between 10 and 20 individuals, is close to or is currently export-ready, and wishes to grow globally. These MSMEs represent 60% -70% of jobs in developing countries and around half of economic activity ¹. Moreover, they tend to employ youths and ladies.
It is still too early to estimate how deeply the pandemic will impact our core constituency. Small companies are already or will quickly deal with a liquidity crisis, which could clean out entire sectors of the economy. In the next couple of months, they will face a variety of difficulties that will depend, to a big degree, on how policymakers react to the crisis today.
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