Adjusting technical support to fulfill the obstacle
As COVID-19 moves from a health crisis to a financial crisis, we are trying to expect how small companies all over 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 establishing world. The normal small service we work with uses in between 10 and 20 individuals, is close to or is currently export-ready, and wants to grow globally. These MSMEs represent 60% -70% of jobs in establishing nations and around half of economic activity ¹. Moreover, they tend to employ youths and females.
It is still too early to estimate how deeply the pandemic will affect our core constituency. Little services are currently or will quickly face a liquidity crisis, which might erase whole segments of the economy. In the next couple of months, they will face a variety of obstacles that will depend, to a big degree, on how policymakers respond to the crisis today.
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