I. Transform the sentences according to the model.

Model: I am thinking of starting my own business open a cafe. I am thinking of opening a cafe.

1) start a car-repair shop

2) hire a book keeper

3) fire an employee

4) consult a board of directors

5) sell my business

6)  do my books myself

7) consult a lawyer

8) find a specialists

 

 II. Transform the sentences according to the model.

Model: A book keeper will do the books.

I am going to have a book keeper do the books.

1. A partner will finance the business.

2. A salesperson will sell the clothes.

3. A decorator will design the interier.

4. A lawyer will do this work.

5. A secretary will mail the letters,

6. A colleague will give me a piece of advice.

7. A book keeper will prepare the tax report.

III. Answer the questions.

1. Are you thinking of starting your own business?

2. What business do you want to start?

3. How do we call the business if you go into it alone?

4. Who is going to make the decisions and control the profits in your business?

5. Do you need a lawyer if you want to start a sole proprietorship?

6. Why don't you have to consult the partners in a sole proprietorship?

7. How many employees are you going to hire for your business? In what cases will you fire them?

8. What does it mean to have unlimited liability? Are you ready for it?

9. What will you do, if your business fails?

10.What will you do to put policies into effect quickly?

11.What businesses have tax benefits in this country?

12.Can you do your books yourself?

13. Are you going to hire a book-keeper?

 

IY. Make the sentences negative.

1.I want to start my own business.

2. You need a lawyer in this case.

3. Sole proprietorship brings much profit.

4. Sole proprietorship gets tax benefits from the government.

 

Y. Put up four questions of different types (general, special, disjunctive, alternative) to each sentence.

Model: The partners arc responsible for business debts.

a) Are the partners responsible for business debts?

b) Why are the partners responsible for business debts?

c) The partners are responsible for the business debts, aren't they?

d) Are the partners responsible for the business debts or fulfilment of the arrangement?

1) 1 want to go into business with my friend.

2) You can lose personal assets.

3) He is difficult to get tax benefits from the state.

4) I do my books myself.

5) We both have unlimited liability.

6) The board of directors decided on vacation, salary, hiring d firing.

7) The partners want to consult a board of directors.

 

YI. Make up the dialogue.

You are going to start your own business. Ask a lawyer or an

experienced person how to do it.

 

Unit 8

Text. PARTNERSHIPS

A partnership is an association of two or more persons to carry on a business for profit. When the owners of the partnership have unlimited liability they are called general partners. If partners have limited liability they are " limited partners". There may be a silent partner as well - a person who is known to the public as a member of the firm but without authority in management. The reverse of the silent partner is the secret partner - a person who takes part in management but who is not known to the public.

Any business may have the form of the partnership, for example, in such professional fields as medicine, law, accounting, insurance and stockbrokerage. Limited partnerships are a common form of ownership in real estate, oil prospecting, quarrying industries, etc.

Partnerships have more advantages than sole proprietorships if one needs a big capital or diversified management. Like sole proprietorship they are easy to form and often get tax benefits from the government.

Partnerships have certain disadvantages too. One is unlimited liability. It means that each partner is responsible for all debts and is legally responsible for the whole business. Another disadvantage is that partners may disagree with each other.

                                          Exercises

 

I. Answer the questions.

1. What is the difference between a general partnership and | limited partnership?

2. Is there any difference between a silent partner and a el partner? What is this difference?

3. In what professional fields are the partnerships found?

4. In what businesses is the partnership a common form?

5. What are the advantages of a partnership?

ft. Discuss the disadvantages of a partnership. Would you ii partnership or sole proprietorship for business? Give your reasons.

 

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