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Adapting technical assistance to meet the challenge
As COVID-19 moves from a health crisis to a financial crisis, we are attempting to
anticipate how small companies around the globe will weather this storm and where we require to
focus our efforts.
LCGC works with micro, small and medium-sized enterprises
(MSMEs), primarily in the developing world. The typical small company we work with employs in between 10
and 20 people, is close to or is already export-ready,
and wishes to grow internationally. These MSMEs represent 60% -70% of tasks in establishing nations and
around half of financial activity ¹. Additionally, they tend to utilize young individuals 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 face a liquidity crisis, which might eliminate entire sections of the economy.
In the next few months, they will face a range of
obstacles that will depend, to a big degree, on how policymakers respond to the
crisis today.
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