Adjusting technical support to satisfy the challenge
As COVID-19 relocations from a health crisis to a recession, we are trying to prepare for how small companies around the world will weather this storm and where we require to focus our efforts.
LCGC works with micro, little and medium-sized enterprises (MSMEs), mostly in the developing world. The normal little business we work with employs in between 10 and 20 individuals, is close to or is currently export-ready, and desires to grow worldwide. These MSMEs represent 60% -70% of tasks in developing nations and around half of financial activity ¹. Moreover, they tend to use young people and females.
It is still prematurely to approximate how deeply the pandemic will impact our core constituency. Little organisations are currently or will quickly face a liquidity crisis, which could eliminate whole segments 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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