Adapting technical support to satisfy the obstacle
As COVID-19 relocations from a health crisis to a recession, 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 deals with micro, small and medium-sized business (MSMEs), mainly in the establishing world. The typical small service we work with uses between 10 and 20 individuals, is close to or is already export-ready, and wishes to grow internationally. These MSMEs represent 60% -70% of jobs in establishing countries and around half of economic activity ¹. Furthermore, they tend to utilize young people and females.
It is still prematurely to estimate how deeply the pandemic will impact our core constituency. Small companies are already or will quickly face a liquidity crisis, which might wipe out entire segments of the economy. In the next couple of months, they will face a range of difficulties that will depend, to a large degree, on how policymakers respond to the crisis today.
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