Adapting technical assistance to meet the difficulty
As COVID-19 relocations from a health crisis to an economic crisis, we are attempting to anticipate how small companies around the globe will weather this storm and where we need to focus our efforts.
LCGC deals with micro, little and medium-sized enterprises (MSMEs), mainly in the developing world. The typical small organisation we deal with utilizes in between 10 and 20 individuals, is close to or is already export-ready, and wishes to grow internationally. These MSMEs represent 60% -70% of jobs in establishing countries and around half of financial activity ¹. Moreover, they tend to utilize 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 might eliminate whole sectors of the economy. In the next couple of months, they will deal with a series of challenges that will depend, to a large degree, on how policymakers react to the crisis today.
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