Adjusting technical help to satisfy the challenge
As COVID-19 moves 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 need to focus our efforts.
LCGC deals with micro, small and medium-sized business (MSMEs), primarily in the establishing world. The common little service we work with employs 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. Furthermore, they tend to use young individuals and ladies.
It is still too early to approximate how deeply the pandemic will impact our core constituency. Small companies are already or will soon face a liquidity crisis, which might erase whole sections of the economy. In the next few months, they will face a variety of obstacles that will depend, to a large degree, on how policymakers react to the crisis today.
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