Funding for Self Employed – Effected by COVID 19

Introduction

Over a quarter of the world’s population is currently under movement restrictions. For the first time in recent human history, coronavirus has shattered the myth that the economy must come first. While public health concerns, undoubtedly, should take precedence over all other considerations when dealing with the COVID-19 pandemic, it would be unwise to ignore the economic costs of the current situation.

A global recession is likely to significantly reduce the demand for Sri Lanka’s exports, and lead to considerable job losses. During the Great Recession from 2008 to 2010, an estimated 90,000 Sri Lankans lost their jobs due to downsizing amongst manufacturing firms, especially in the apparel sector.

The government has also requested debt-relief, in the form of suspending debt repayments for a time period, from its lenders in an effort to gain greater flexibility to address the current crisis. These measures have created some breathing space by easing up an element of financial constraints for firms and workers, and crucially injecting a measure of liquidity into the economy.

That said, these measures do not necessarily create a swift cash flow into the hands of vulnerable groups such as daily wage earners and most SMEs, especially those in the informal sector. Therefore, a mechanism to provide cash flows will be needed, in addition to policies such as price reductions, since the continuation of curfew or a lockdown would severely constrain disposable income amongst these groups and heighten difficulties in accessing basic essentials.

How SkyReach will use funds ?

SkyReach is a company with a vision to building future communities from its start up which clearly reflects on our logo. As a small scale construction company we always provided jobs to self employment people like carpenter works, paintings, brick and mortar works etc.

We always worked towards construct houses for high income people by creating income for middle and lower income families.

With this Corona Pandemic 100% of these jobs are halted and more than 5000 families works under us directly and in directly are suffering with out proper Cash Flow. Though we are providing our support as a medium scale company we wont be able to generate same amount of jobs to them with this crisis.

So we are requesting funds to provide some relief to these people to start their life again. These funds will be properly managed by Company and will be provided all documents how we spend these cash.

We are asking your support even 5$ to 10$ to make a smile on these people face and their children.

God bless you all.