Adapting technical assistance to fulfill the difficulty
As COVID-19 relocations from a health crisis to a recession, we are trying to expect how small organisations around the world will weather this storm and where we need to focus our efforts.
LCGC works with micro, little and medium-sized business (MSMEs), primarily in the developing world. The typical little organisation we work with utilizes between 10 and 20 individuals, is close to or is already export-ready, and desires to grow internationally. These MSMEs represent 60% -70% of tasks in establishing nations and around half of financial activity ¹. Furthermore, they tend to employ young people and ladies.
It is still too early to approximate how deeply the pandemic will affect our core constituency. Small companies are already or will soon face a liquidity crisis, which might wipe out entire sectors of the economy. In the next couple of months, they will deal with a variety of obstacles that will depend, to a large degree, on how policymakers react to the crisis today.
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