Adjusting technical support to meet the challenge
As COVID-19 moves from a health crisis to a recession, we are trying to prepare for how small companies worldwide will weather this storm and where we need to focus our efforts.
LCGC deals with micro, small and medium-sized business (MSMEs), primarily in the establishing world. The normal small company we work with uses between 10 and 20 people, is close to or is currently export-ready, and wishes to grow internationally. These MSMEs represent 60% -70% of jobs in establishing countries and around half of economic activity ¹. Moreover, they tend to use young people and females.
It is still prematurely to approximate how deeply the pandemic will affect our core constituency. Little businesses are currently or will soon deal with a liquidity crisis, which could erase entire sectors of the economy. In the next couple of months, they will face a variety of challenges that will depend, to a large degree, on how policymakers react to the crisis today.
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