Adapting technical assistance to meet the difficulty
As COVID-19 moves from a health crisis to a recession, we are attempting to prepare for how little services around the world will weather this storm and where we require to focus our efforts.
LCGC deals with micro, little and medium-sized business (MSMEs), mostly in the establishing world. The typical little business we work with employs between 10 and 20 people, is close to or is already export-ready, and wants to grow worldwide. These MSMEs represent 60% -70% of jobs in establishing countries and around half of economic activity ¹. Furthermore, they tend to utilize youths and ladies.
It is still prematurely to approximate how deeply the pandemic will affect our core constituency. Little businesses are currently or will quickly face a liquidity crisis, which could erase whole segments of the economy. In the next couple of months, they will face a series of difficulties that will depend, to a big degree, on how policymakers react to the crisis today.
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