Adjusting technical help to satisfy the obstacle
As COVID-19 relocations from a health crisis to a recession, we are trying to prepare for how little services all over the world will weather this storm and where we require to focus our efforts.
LCGC works with micro, small and medium-sized enterprises (MSMEs), mainly in the developing world. The normal small company we deal with employs in between 10 and 20 people, is close to or is currently export-ready, and wishes to grow internationally. These MSMEs represent 60% -70% of jobs in developing nations and around half of financial activity ¹. Furthermore, they tend to employ young individuals and females.
It is still too early to approximate how deeply the pandemic will impact our core constituency. Small businesses are already or will quickly deal with a liquidity crisis, which might clean out whole segments of the economy. In the next few months, they will deal with a variety of challenges that will depend, to a big degree, on how policymakers react to the crisis today.
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