Adjusting technical support to meet the difficulty
As COVID-19 relocations from a health crisis to a recession, we are trying to anticipate how small services all over the world will weather this storm and where we require to focus our efforts.
LCGC works with micro, small and medium-sized business (MSMEs), mostly in the establishing world. The common small company we work with uses between 10 and 20 individuals, is close to or is currently export-ready, and desires to grow worldwide. These MSMEs represent 60% -70% of jobs in establishing nations and around half of economic activity ¹. Additionally, they tend to employ youths and females.
It is still too early to estimate how deeply the pandemic will affect our core constituency. Small companies are already or will quickly deal with a liquidity crisis, which might eliminate whole sectors of the economy. In the next few months, they will deal with a variety of challenges that will depend, to a big degree, on how policymakers react to the crisis today.
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