Adapting technical assistance to fulfill the challenge
As COVID-19 moves from a health crisis to an economic crisis, we are attempting to anticipate how little businesses all over the world will weather this storm and where we require to focus our efforts.
LCGC works with micro, little and medium-sized business (MSMEs), mostly in the establishing world. The common small company we work with utilizes between 10 and 20 individuals, is close to or is already export-ready, and wants to grow globally. These MSMEs represent 60% -70% of tasks in developing countries and around half of economic activity ¹. Additionally, 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 already or will soon deal with a liquidity crisis, which might erase whole sections of the economy. In the next couple of months, they will deal with a variety of challenges that will depend, to a big degree, on how policymakers respond to the crisis today.
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