M7 Keeping careful records

Micro EnterpriseFinancial Management
  • Study this group’s records. What can you learn about the amounts they have agreed to pay in each week? What happens if members are away?
  • How much do they give out to members each week? Why do you think this is less than the members normally pay in each week?
  • How do they earn more income as a group?
  • Discuss what you think they should do about Florence.

Discussion 
  • Emphasise that this is just one example of a very simple method of record keeping. Is there other information participants think should be added?
  • Emphasise the need to discuss problems before they happen:
    • What can be done if members stop paying regularly but still want a loan?
    • What happens if members are sick or in trouble?
    • How can the group protect themselves against a member who is one of the first to receive the credit and then leaves?
    • How can a group protect themselves from future difficulties such as drought leading to a poor harvest?