Photo: Geoff Crawford/Tearfund

From: Microenterprise – Footsteps 80

How to start and run a successful small business

Business   the sale of goods or a service in an attempt to make a profit

Collateral  security pledged for the payment of a loan  

Entrepreneur   someone who starts a business that promises economic gain but that also involves risks  

Livelihood   a way of supporting an existence, especially financially  

Micro-credit  the lending of very small amounts of money at low interest  

Micro-enterprise   a small business that is often unregistered and has five or fewer employees  

Micro-finance   a means of extending credit, usually in the form of small loans with no collateral, to borrowers such as poor people in rural or undeveloped area 

Sustainable   capable of continuing without further financial input 

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