Adapting technical assistance to fulfill the challenge
As COVID-19 relocations from a health crisis to a recession, we are trying to anticipate how small companies around the globe will weather this storm and where we need to focus our efforts.
LCGC works with micro, little and medium-sized business (MSMEs), mainly in the establishing world. The typical small business we deal with employs between 10 and 20 individuals, is close to or is currently export-ready, and wishes to grow globally. These MSMEs represent 60% -70% of tasks in establishing nations and around half of economic activity ¹. Moreover, they tend to use young individuals and ladies.
It is still prematurely 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 whole sections of the economy. In the next few months, they will deal with a range of challenges that will depend, to a big degree, on how policymakers respond to the crisis today.
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