Adapting technical help to meet the difficulty
As COVID-19 moves 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 require to focus our efforts.
LCGC deals with micro, little and medium-sized business (MSMEs), primarily in the establishing world. The typical small company we work with uses in between 10 and 20 individuals, is close to or is already export-ready, and wishes to grow worldwide. These MSMEs represent 60% -70% of tasks in developing nations and around half of financial activity ¹. Additionally, they tend to use youths and females.
It is still prematurely to approximate how deeply the pandemic will impact our core constituency. Small companies are currently or will quickly deal with a liquidity crisis, which could eliminate entire sections of the economy. In the next few months, they will deal with a series of obstacles that will depend, to a big degree, on how policymakers react to the crisis today.
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