Adapting technical assistance to meet the difficulty
As COVID-19 relocations from a health crisis to a recession, we are attempting to anticipate how little services all over the world will weather this storm and where we need to focus our efforts.
LCGC deals with micro, small and medium-sized enterprises (MSMEs), mostly in the developing world. The typical small business we deal with utilizes between 10 and 20 individuals, is close to or is already export-ready, and desires to grow globally. These MSMEs represent 60% -70% of tasks in developing nations and around half of economic activity ¹. Additionally, they tend to utilize young people and females.
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 erase entire sections of the economy. In the next few months, they will deal with a range of obstacles that will depend, to a large degree, on how policymakers react to the crisis today.
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