Adapting technical support to meet the difficulty
As COVID-19 moves from a health crisis to an economic crisis, we are attempting to prepare for how small companies all over the world will weather this storm and where we require to focus our efforts.
LCGC deals with micro, little and medium-sized business (MSMEs), primarily in the establishing world. The common small company we deal with employs between 10 and 20 people, is close to or is already export-ready, and desires to grow worldwide. These MSMEs represent 60% -70% of tasks in developing countries and around half of financial activity ¹. Moreover, they tend to use youths and females.
It is still prematurely to estimate how deeply the pandemic will affect our core constituency. Small companies are currently or will soon face a liquidity crisis, which could erase entire segments of the economy. In the next few months, they will face a range of difficulties that will depend, to a big degree, on how policymakers respond to the crisis today.
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