Task 3. Choose the correct answer A, B or C from the list opposite.

1. The ______department of the government looks after roads, railways and airports.

2. The government hopes its _____ will help reduce unemployment.

3. The parts that something is made of are sometimes called ________.

4. _________ employment is when everyone who can work has a job.

5. The money that you have after you’ve paid taxes is called your ______ income.

6. The part of a person’s salary that is not taxed is called their personal ___________ .

7. The government plans many new ___________ projects, such as building new hospitals and schools.

8. Another word for extra goods that are not needed is _________.

9. When the economy is working at full __________, it is using all its resources for production.

10. A _____________ is a large, fast road which connects cities.

11. A _______ is a plan for achieving something.

12. In a _____ tax system, people who earn more pay more tax than people who earn less.

1. a. transport b. education c. defence

2. a. components b. allowance c. policy

3. a. income b. components c. capacity

4. a. absolute b. complete c. full

5. a. full b. disposable c. spending

6 a. allowance b. surplus c. capacity

7. a. personal b. public c. disposable

8. a. surplus b. shortage c. allowance

9. a. employment b. income c. capacity

10. a. path b. motorway c. railway

11. a. component b. project c. scheme

12. a. surplus b. progressive c. public

Task 4. Make up an investment project.

Background

“Angel Investments” is based in Warsaw, Poland. It provides finance for start-up or young companies which need capital to develop their businesses. AI is run by a group of extremely rich people of various nationalities who made their fortunes in the computer and financial services industries. They enjoy the excitement of working with start-ups and small companies, and believe that Central and Eastern Europe offers outstanding opportunities for investment. They are willing to take risks and support projects which seem unusual or extraordinary. However they also expect to make money, usually by taking a stake in the business or a share of the profits.

A team of AI investors is currently considering several proposals. After hearing presentations from individuals and companies, AI will decide which projects it will invest in, and how much money it will give to each one. They have €5.5 million to invest in the projects.

You are an entrepreneur who needs finance for a new project; the rest of the group are AI investors.

Key points for product presentations

The Business

A description of the business

· What does it do?

· What is the name of the company?

· What is the form of ownership and structure?

· Who is it for?

· Brief details about the team (age, education, experience, etc.).

The Product or Service

A brief description – including artwork, if possible.

· What are the advantages of the product or service?

· What are its unique features?

Marketing

· Who are the existing or target customers?

· Who are the competitors or possible future competitors?

· What are the competing products, if any?

· What about pricing policy?

· How will the product or service be launched and promoted?

· What are the selling and distribution methods?

Finance

· How much finance is required and for what purposes(in detail)?

Proposals:

New magazine You need to finance the first edition and launch of a new magazine. Amount required: € 2.5 million, to finance production, editorial, office administration, distribution costs and promotion.

Relaxation tank centres At these centres, stressed business people can float in tanks and forget about their problems. Other services will include advice about diet and skin care, a solarium, and sun beds, etc. Amount required: € 2 million, to finance premises, equipment, staff and promotion.

New sport league You have a background in sport and public relations. You want to set up a league for a sport which at present is not well-known, but could become very popular Amount required: €2.5 million to finance administration and promotion, endorsements of the league by famous sports people, travel and legal costs.

International Publishing House The company will look for young talented authors all over the world and publish their works. Amount required. € 2 m. for research, premises, equipment, staff, legal costs.

Higher Educational Institution. The College will train specialists in all economic (any other) and related spheres. Amount required: € 1,5 m. for premises, equipment, administration, promotion and inviting world-famous professors.

High-tech Company Your company will promote alternative sources of electric power. Amount required: € 3 m. for search of ideas, production, testing, marketing, equipment.

Your own idea for a product or service You have an idea for a product or service. You have not yet written a business plan, but the AI team are willing to listen to your presentation. Amount required: At least €3 million, to finance development, production, personnel, launch and marketing costs.

For Additional Reading