Adjusting technical assistance to fulfill the challenge
As COVID-19 relocations from a health crisis to an economic crisis, we are attempting to anticipate how little companies around the world will weather this storm and where we require to focus our efforts.
LCGC works with micro, small and medium-sized enterprises (MSMEs), mostly in the developing world. The common small organisation we work with utilizes between 10 and 20 people, is close to or is currently export-ready, and wishes to grow globally. These MSMEs represent 60% -70% of jobs in establishing nations and around half of economic activity ¹. Moreover, they tend to use young people and ladies.
It is still too early to estimate how deeply the pandemic will impact our core constituency. Small companies are currently or will soon deal with a liquidity crisis, which might erase whole segments of the economy. In the next couple of months, they will deal with a series of obstacles that will depend, to a large degree, on how policymakers respond to the crisis today.
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