FAMILY, friends and foolhardy strangers are the individuals who often make the important investment needed to start a business. The amount of “informal capital” that can be raised from those close to entrepreneurs varies across countries. Peruvians, for example, are relatively poor so cannot cough up as much as people in richer countries.
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Over the years, the agreements used by more informal investors have come to mirror the investor-friendly agreements used by venture capital firms.
几年来,非正式投资者使用的协议越来越接近风险投资公司使用的协议,对投资者有利。
The informal ratio of output divided by capital expenditure.
产出除以资本支出的比率。
And the formation and function of informal rules are based on social capital.
而非正式制度形成和作用都是建立在社会资本的基础上。
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