Adapting technical assistance to meet the challenge
As COVID-19 moves from a health crisis to a recession, we are attempting to anticipate how small organisations around the world 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 developing world. The normal small company we work with utilizes in between 10 and 20 people, is close to or is already export-ready, and wishes to grow internationally. These MSMEs represent 60% -70% of tasks in establishing nations and around half of financial activity ¹. Furthermore, they tend to employ young individuals and women.
It is still prematurely to approximate how deeply the pandemic will impact our core constituency. Small companies are currently or will quickly face a liquidity crisis, which might eliminate whole sections of the economy. In the next couple of months, they will deal with a range of obstacles that will depend, to a big degree, on how policymakers react to the crisis today.
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