A. Discuss the following questions.

❖ Are you interested in the world of business?

❖ What kinds of people are good at business? Who would be your business model?

❖ Is it easy to start a business in your country? What advice would you give to people starting in business?

❖ What would be your main business goal?

B. Read the text, give the main idea and summarize the key points about business.

New businesses are set up by entrepreneurs. There are both risks and benefits involved in setting up a new business. A business is any organization that makes goods or provides services. Goods are physical products - such as burgers or cars. Services are non-physical items - such as hairdressing. Customer needs are the wants and desires of buyers.

There are many types of business. These range from small firms owned and run by just one self-employed person, through to large companies which employ thousands of staff all over the world. Nearly half a million businesses start up every year. A business start-up is a new firm operating in a market for the first time. In order to create goods and services, a business buys or hires inputs such as raw materials, equipment, buildings and staff. These inputs are transformed into outputs called products. These products are the goods and services used by consumers. Production is the business activity of using resources to make goods and services.

The skill involved in wanting to start and run a business is called enterprise. The individual who sets up their own business is called an entrepreneur. There are several reasons why entrepreneurs are willing to take a calculated risk and set up a business. Possible motives include:

making a profit. A business does this by selling items at a price that more than covers the costs of production. Owners keep the profit as a reward for risk-taking and enterprise.
the satisfaction that comes from setting up a successful business and being independent.
being able to make a difference by offering a service to the community such as a charity shop or hospice.

C. Study the following expressions with the word “business” and do exercise given below.

a) business trip	командировка, деловая поездка
b) business lunch	деловой обед
c) business hours	часы работы
d) business address	адрес фирмы, компании
e) business card	визитная карточка
f) business corporation	коммерческая корпорация
g) for business purpose	с деловой целью, для бизнеса
h) in a businesslike manner	в деловой обстановке, по-деловому
i) to go into business	заняться бизнесом
j) to go out of business	обанкротиться
k) to start/ set up one’s own business	начать/создать своё собственное дело
l) to carry on/run a business	вести дело
m) to shut down/stop the business	останавливать дело
n) to get down to business	заняться делом
o) on business	по делу
p) big business	крупный капитал
q) mind your own business	занимайся своим делом

1) When you go somewhere on business it’s a … …

2) A small piece of paper with your name, surname and address is a … …

3) Your firm is situated in Pushkin St. 23. It’s your … …

4) Don’t ask me! ......

5) He … … a year ago. Now he has got a lot of money.

6) We met in a small café and discussed our plans … …

7) He has got 5 factories in Russia and abroad. - I know, he has … …

8) When you have a meal with your business partners it’s a … …

9) You must work from 9 a.m. till 5 p.m. It’s your … ……

10) Many small businesses have gone bankrupt recently and I … … … … too.

D. Read and reproduce the dialogue paying attention to the expressions in bold.

Interviewer: When did you first go into business?

David: I set up a small business selling office supplies in 1989, filing systems, office equipment and so on. In 1991 I went into partnership with my old friend. We made a loss for the first two years, but then things got better and we’ve made a profit most years ever since. But there have been bad times too.

Interviewer: In what way?

David: Well, during the economic recession of the early 1990s, a lot of small businesses were going under, and I thought our business would fold, but we survived. All around us, small firms were going bankrupt. But in 1994 we won a contract, despite stiff competition, to supply the local government offices, and that was an important moment for us. We took on staff and expanded. And we were proud that we had created jobs for local people at a time when unemployment was high. Our sales figures improved steadily, and soon we had an annual turnover of more than ten million dollars.

Interviewer: So what’s the secret of your success?

David: Well we’re quite cautious^{^[1]}. For instance, we always carry out market research before launching a new product. But also, we set a high value^{^[2]} on customer service^{^[3]}, especially after-sales service^{^[4]}. But at the end of the day^{^[5]}, running a successful business is a combination of hard work, luck and intuition.

Interviewer: Finally, there are rumors that you may float the company on the stock market.

David: At the moment we have no intention of going pub lic, and people shouldn’t believe everything they read in the newspapers!

E. Match the words and word combinations.

1) to fold	to fail financially, to be unable to pay debts
2) to go into business/ to set up a business	to start selling shares in a business or company for the first time
3) to take on staff	to be involved in the process of collecting information about markets
4) to float the company/ to go public	to start working in a particular group of people for doing business
5) to make a profit	to close because of not being successful
6) to go under/ to go bankrupt	amount of business a company does in a year
7) annual turnover	to fail to keep money
8) to carry out market research	to be in charge of the company
9) to make a loss	to create or establish a business
10) to run a business	to start selling a product
11) to go into partnership	to employ somebody, to hire
12) to launch a product	to make money

Reading 1: Types of Businesses

A. Study the topical vocabulary.

sole trader/sole proprietorship	индивидуальное / частное предпринимательство
to be liable for/to be responsible for	нести ответственность за
debts	долги
to have unlimited liability	иметь неограниченную ответственность
to have limited liability	иметь ограниченную ответственность
advantage (over smth.)	преимущество (над чем-либо)
disadvantage/drawback	недостаток
start-up cost	издержки освоения нового предприятия
to make decision	принимать решение
to keep profit	оставлять прибыль себе, распоряжаться ею
to share	делить, распределять
partnership	товарищество
sleeping partners	негласный партнер, пассивный партнер
to sue	подавать иск
assets	имущество
shareholder	акционер
to apply for a corporate charter	подать заявку на корпоративный патент
officer	должностное лицо
to supervise daily management	осуществлять ежедневное руководство
to have a final authority	иметь решающее слово
Board of Directors	Совет Директоров
private limited company (Ltd)	закрытая акционерная компания
transfer of shares	размещение акций
stock exchange	фондовая биржа
to be traded	торговать
public limited company (plc)	акционерная компания открытого типа
joint venture	совместное предприятие
franchising	франшиза
franchisee	предприятие, получившее право продажи марочного товара фирмы
franchisor	франшизодатель
retailer	розничное предприятие, фирма
non-profit corporation	некоммерческая корпорация
to be exempt from taxation	не подлежать налогообложению

B. Before you read discuss the following questions.

1) What should you do before starting your own business?

2) What kind of organization do you want to work for?

3) Do you expect to have one immediate boss, to work for more than one superior or to be part of a team?

C. Read the text and name the main types of businesses mentioned in it.

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