Glossary

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Crowdfunding: Crowdfunding is a way in which business capital can be raised and funding achieved from small capital derived from a large number of persons that contributed to the goal.

Cryptocurrencies: A cryptocurrency is a form of virtual currency that is secure and cannot be double-spent.

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Financial Security: Financial security deals with the absence of worry over money. It is a major factor among business owners that can threaten the survival of a business.

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GW Susu: GW SUSU is a savings and loans club in which members contribute money and each member gets their turn to receive a lump sum. The money contributed to the SUSU is used for investment.

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Investment Club: An investment club is a group in which all members manage their own money and invest together. Investment decisions are made by all members.

Informal Loan: Informal loans are nonbanking loans that rely more on personal relationships and group associations.

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Money Pool: In a money pool, members contribute an equal amount and pay the lump sum to a member each month until everyone benefits. It is an agelong means of raising money for business and other purposes.

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Peer to peer banking: In a peer to peer banking, all members can carry out financial transactions through an auction system of loans. It is also available as an online and informal form of banking.

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Rotating Credit and Savings Association: When a group of individuals decides to come together to save and borrow together for a defined period it is referred to as a rotating savings and credit association (ROSCA)

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Susu Savings: Each member contributes monthly to GW SUSU so savings is a vital aspect of the SUSU. Small business owners are required to set aside some amount for saving o=every month.
Also, savings are used for investment purposes and it adds to the lump sum paid to a member each month.

Small Businesses: Small businesses are privately owned businesses that have few employees. They may be formed by partnerships or owned by a sole proprietor.

Stocks: A stock is an investment that gives the stockholder some level of ownership in the corporation from where the stock is bought.

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