Exercise 1. Transform the sentences according to the mood

Text

A business may be privately owned in three different forms. These forms are the solo proprietorship, the partnership,the corporation. The sole proprietorship is the most common in many western countries. For example, more than 80 per cent of all businesses in the United States are sole proprietorships.

But it is evident that sole proprietorships do not do the greatest volume of business. They account for only 16 percent of all business receipts, for example, in America. What kind of business is likely to be a sole pr1. First of all, service industries such as Laundromats, beauty shops, different repair shops, restaurants.

Active Vocabulary

business дело

to own владеть

sole proprietorship частная собственность

partnership партнерство

corporation корпорация

volume объем, количество

receipt денежные поступления

service industry сфера обслуживания

to account for объяснять, отчитываться

repair shop мастерская

Comprehension Question

1. What arc three different ways that a business can be privately owned?

2. What forms do most European countries have?

3. What from do the business in the USSR have?

4. Name some businesses that are likely to be sol proprietorship. Why do you think so.

5. Name some businesses that arc not likely to not likely to be sole proprietorship? Why do you think so?

Vocabulary Practice

Exercise 1. Choose the necessary word and put it in the sentence .

1. Small…are very often service industries. |1 receipts

2. The…industries don l produce material |

goods. | 2 business

3. More than 80 per cent of ail business |

…are not from sole proprietorships. |3 service

4. Less than 20 per cent of European |

businesses are partnerships or... |4 privately

5. Sole proprietorships...only a small part |

of all business receipts. |5 account

6. Is this bank owned publicly or…? |6 corporation

7. There are three...of business ownership. |7 forms

Dialogue

JimHi, Alice. How are you gelling on?

AliceFine, as usual, thanks, Jim. What about you?

JimI'm O.K. It's nice to see you.

AliceYou too. I'm glad you are not in a hurry and we have time to talk today.

JimSure.

AliceCan you give me a piece of advice?

JimWell, I’ll try I can.

AliceYou know I've been always good at cooking. It interests me. I am thinking of starting my own business – cafe.

JimIt might be a good idea.

AliceI guess I must learn about the responsibilities of going into business.

Jim Are you going into this business by yourself?

Alice Exactly. I'd like to have a cafe with my name on it where I make the decisions and where I control the profits.

Jim You seem to be resolute so I'll try to help you. If you go into business alone, it is called sole proprietorship. In such case you needn't consul» a lawyer to form the business. You can start or you can slop your business whenever you like.

Alice It sounds encouraging. What else can you tell me?

JimThere is no need to consult partners or a board of directors. So you can put your policies into effect quickly. You decide on your vocation, hours, salary, hiring and firing.

AliceWell, that's not bad.

JimWail a moment. 1 believe 1 have to tell you about the risk involved.

Alice What do you mean?

JimFirst of all, the most important risk is that you have unlimited liability. It means that you are responsible for all your business debts.

AliceSo if the business fails, I have to declare personal bankruptcy, don't I?

JimThat's what I mean. You can lose your personal assets?

AliceWell, it's rather disappointing. What other things should I know?

JimYou won't get lax benefits which partnerships or corporations can get.

AliceI know about it. By the way do you know of a good accountant to do my taxes?

JimOf course. You'll also have to hire a good bookkeeper if you can't do your books yourself.

Alice I can't say anything definite about that. I have to think it over. What else, Jim?

JimWell, 1 am a bit hungry, why don't we have a snack together and discuss the things in the cafe.

AliceYou are right as usual. Let's go.

Active Vocabulary

piece of advice сонет

can you give me u piece не могли бы вы дать мне

of advice совет

I am thinking of 'starling я думаю о том, чтобы

my own business начать свое дело

responsibility ответственность

to make decisions принимать решения

to control the profits контролировать прибыль

sole proprietorship частная собственность

to need a lawyer нуждаться в юристе

it sounds encouraging это вдохновляет (звучит

вдохновляюще)

to consult partners консультироваться с

партнерами

a board of directors совет директоров

to put policies into effect быстро достичь хороших

quickly результатов

to hire нанимать

to fire увольнять

to decide oh vacation, hours, решать вопросы, связанные

salary, hiring and firing с отпуском, продолжительностью рабочего дня,

зарплатой, наймом, увольнением

to have unlimited liability иметь неограниченную

юридическую ответственность

to be responsible for ail нести ответственность за

business debts производственные долги

to fail терпеть неудачу

to declare personal bankruptcy объявить личное банкротство

personal assets личная собственность

tax benefits льготы по налогообложению

to get tax benefits получить льготы по налогообложению

accountant бухгалтер, счетовод

book-keeper бухгалтер, счетовод

to do books вести бухгалтерский учет

Vocabulary Exercises

Exercise 1. Transform the sentences according to the mood.

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