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7. Setting Up a Business Key vocabulary 9 Many arge busineses in the UK are public Hanited compantes (ple), which means thatthe pubic can buy and sel thet shares on the stock exchange, Examples clude Marks & Spence, Bitkh Texecom and the National Westrnster Bank The mim share capital ora pubic mite company is £30,000, 30 many new Businesses are aly to take one ef the folowing or le Proprietor (UK) The simpiest way of starting a business. You ae seltemplayed and ently reposible {or allaspects of the management of your buses, Two or more people stating 2 business together can se up a parnership. Al partners are responsible fo the debts ofthe partnership, and pros an losses are sha, between them Private Limited Company (UK) 2 company canbe formed seth a minimum of wo people becoming its shareolders They must appoint a director snd a company secretary. Hf the company goes cul of bons, the tesponsibiiy ofeach shareholder imted to the amount that fey have ontribute: they have Hite Habiity Such 3 compar has tke (Limited) ster In the Us, businesses take the same base forms. However, American companies ate registered oF incorporated with the authorties inthe sate where they hove ther headquarters. The abpevations tne and Corp reer to auch comparves To sel shares 1 the publeviey must apply ta the Secures Exchange Comminion Discount ew eed Fishing Tackle Spevoiot \ The Tackle Exchange Jonathan Grinsted 7 =| 106 Vocabulary check the words and lowe that are most [import Export | nets tants ‘quota hie financial officer broker balance sistanabity et prone Focal subsilary yield ‘ties epost ‘debit cart talance set Blobal warming cashpount Fue shares ‘dividend eyeing 2 Complete the extract fom a et Shareholders with words and expression ‘exercise 1 In the correct form from eas been anther excellent year for the company as ‘ur busneses have continued to gf As you wil see from the balance sheet and the accompanying francilstatements, our fan perermance has improved sgnicanty. We are partculy proud of out Sales record and ofthe fact that wear able to report 2 Gi increase in? eg toe pee Thanks te this and To the cas of vaious cost reduction iniatves, our ® Substantial higher and consequently ou shareholders have bene fem a significant ren oT per share. Our contincing commitment to the emironment, aed our poly of fun the lng term > et the esources that we user exanufactarin, have Conte to our recent sucess the ew export ‘markets Eastern Europe where concern for the ‘vronment is growing, Our prtrmance in toxic Review 2 ee ecuction as been sgnieanty nnproved and we are now on target to meet EU ‘equremenis, nthe Wht of our sucess nthe Est exopean markets, we ae planning to continue investing these and are moving fr with planet st up ‘ldtonal” a Hower, out ‘evformance some area Bas been atlected by Continuing economic uncertainty and aso by the troduction of © oO escing sales of ‘estan products. On the recommendation of our Sse we have decided to go aed wath plans $5: won the Stock Exchange. Ou ea ‘nl be response for Implementing ti ew programme nthe second hal of the year 3 Complete the box. ices using the words in the ‘on 3) with stor r coff(2) _tnto__out 2). 1 The magazine has a very intersting atcle_en how to measure the environmental impact of consumer product 2. Were having trouble ___ our agent as he has rot amet the conditions i the contract. 3 Could you find vl take place? in te mide ofthe phone The arguments ___ increasing our investment in the company’are not very coowncing {6 One of the effects __the inal eis has ‘cena drop in consume spring 7) Weare doing rescarch the posibilt ‘opening anew ofice tn Poland. 8 The launch ofthe new version has been called 9 Atanifis ax Imported goods 10 The speaker pointed that the information| Setting Up @ Business 18 Lead-in 1 sn pair, decide which ofthe advantages and disadvantages below you would ciate wth te following forms of business. In some case there may be more sole der a partnership 2 private ited company Advantages 1 You have total contol of your busines 2 This good way of sharing the pressure and work of starting business 3 ‘The financial ss that you are taking ave restricted 45 You can increase your apital by sling share. udvantages 1 Thete isa danger that conics of personabty could ruin your business 2. Ie may be dificl expand 3 You may have to sell your possessions ifthe company gos into deb. ofthe questions that you would need to 2 an pairs, prepare a sho ‘sk yourselves before start Example: How much moe wil eal Reading 1 sefore you read the text on the next page about a computer entreprenest, answer the questions 1 What computer and sofware companies do you 2 Which company below did ach of these people create? o Sos Roger Foster Bil Gates ne i) WieyNetraNcls) © ao * © Microsoft EZ “The idea man: Cees. 108 Heres afew of the mast protic! entrepreneurs in computer history: * Steve Jobs, Bil Gates, Roger Foster ec) Roger whe? Adhittey this British entreprenee is no household name? ~ but if tory ‘hd any justice he would be For more than 30 years, with his ventures, Fest has always been able o spot the next big wate inthe industry. Borrowed start ad bite Heft Wb quid +9 te ACT ete ae sp ar satan ami tue WS RCV eds en dng ‘deing his feu jch a GRNTLC Sor Cenaptinlnaae ine ldednnel.Conpues macesrcnne —eaticedan neta a sul canboneme ye cecing oxy The ein Hp nd ene wee wigan Worsn bucket eon ACT HU Idee ie operation ch a ae Si 19 with oo clas nd am 11 “An oe wad Fie gt ped sae tem and erg conaet yn via eee owaning reo corae [NSO opening omy sharon owning cro anes Pec oie Fs cee, ‘Sing be lg tte ond ome in 7%. ines citae henner onpun tbe cone Sock 2 "Hurt atte Mineo be Apt Sen afer howe. Fomr dca he etmechecvictae hee shee ehniere Alesina Cope gue Crp. ‘onmp le ici Carp bade Saag nO eee ee ste fn nicepronesonnoog bei. Sloth ghana BUS ACT po la cero sr 8 mete io da ‘apse competes made rm them. Ina £18 mn Dn de ses ‘Ac doings US-nale BC cskd— Sandadinon ea Se Se fornsple sty ACT aaned ete mfg ia vec {82 The 13 ea ACT one al he Set fret riod ns apo Beaver IES nd 188:ACT wk! ch ceric ana tapas Sling Sewcen sn an SH Arosa sen, ee tanto ae hee ELSE tek AS samim cau nieenh on {Wh iccoupens begins eo" ings ee ‘Home. one of Apricots coroners, We fache, a ‘ot ak gh i dea he Wal Stet ae Emap Corre “tach sama “avery: the sto company has a pre tne ‘tung pea han ena pind ing Fleeting victory Te compa fi ns pit wasn 1 cn hac ape The btn ‘acyl ii hee ar "mano en de 1 Seago PLC UX etme heap and ‘sdk compa ee ESE i 1 ogre ‘egther they eh ometang Be Lage ‘Me wat be the company hace ‘okt We cane dosnt fella he UK ehind My “fa ysl ld Lat yn pedo {£138 marbide sal poe Tose "Wil bene tana Oi Shean ay be he Ae mG ACTE anal jr re ps ne 30 de rahe om eat ‘am tude at 99 be pts he abnor as wach ts Vocabulary Setting Up a Business $1 that Roger Tester id at diferent stages hs eave: Read the text and number these events ev the oner i whic they pened a» Cy aeawd ac £2] bought inanclat sofware companies bE sole apsicor 1 C] worganied ACT © Cy produceta ne 1b [_] stated Financial Objects 4 EJ moved into the US market 4 [J] worked for GAN ©] changes toa new ‘computes architecture 3 head the text again and find one example of ‘an donovation that Roge Foster has been responsible or an opportunity tate has ake. © mista that he has made during his creer 11 Fina wards in the text which correspond tothe folowing definitions 1 develoing naw ies for products and software oa 4) esgring 2 wrt an entering) sets of Intrutions for emnputrs a 4 2 sling product made by someone else (grt 7) 44 making product in factory (ae 7) SS gels procs forte ist tne (paca 10) 6 seorganising (a 14) 2 Match the words rom the text with this comespendting definitions 1 phenomena! ore 7) 1 tohave problems 2 to flop (pat 10) bb tostop changing 5 fatal por 11) © tobeunsucefel 44 te atageate fre 12) {4 the maximum point reached 3 high (ur 12) very unusual and impressive 6 to sar (pore 13) faving a ery serous eect, 7 tobe in robe (pea 14) fr togo dom susdenly 18 to sump yao 14) 1 togo.up quietly Vocabulary development: prefixes 3 Use te following word from the txt to complet the passage belo, neprenens para) vents ia 2) industry ina 2) demain ipa 8) cxtvatage unt tons 4) pect pa 1) ‘Andrew Kn the dielrof Spring Set Brewing Company," fanaea Ws ‘company i 3992 withthe idea of bringing Belaian beer, Wt Ber fo the ‘merc market. However, hs orginal approach to nding the nen cpt, Ly using the Item Seon made Nena poner in threw fill. He nas one ofthe fist to understand the # of urn the Inlet a anes toate ‘nwestnent capt for new business" ort $200 3 month, Klein was able to vent a se, present ha produ. ad conc vest ver the wl Following nis ostegs, my ther have been abe to finance end promote thr ewm business in slr way, Toy. Wit ect cn be ound in several major ces the US an Andrew Klin se that cemomer® for hs company’ produce wl continue to te. deed Wit Ber aeady euGds Some ofthe mare exci oer which compete ithe” Prefiaes can sometimes be added to words to change thele meanings. Inthe text on | ‘age 108 the werd coeur (p79 8) meats 's person wha founded company | ‘nth emeone 1 Maca the fotowing preiaes with thoi corresponding datos, [ise <2 poe Sart pes muted 3 me than one; many bb ater than ater for in preparation tomer ae til ong betwen: among a grou 90; ties; double 2 Match he prefies Hom exerie 1 wth the words blows Use your dtonary to Pp you. 3 linge © nator sb etngua Fontes bute one Bevona ste Fe oooationd © ntanged oo) stirs 3 Whatether words do you iow hat cn be used with these peines? i Relative clauses Practice Setting Up a Business 1 Language Focus 1k a he following sentences from the text on page 105 The eave case A The companys compiling ary of aftr compet th ten an togeter (i 1). 1 pect, which ram a version of serosof¥s MS-DOS operating syst inne atte pena ifn 17) pnpales can Complete the sentences. Disa defi we ies to 1 The slate case i sentence ¢ the mean of the sentence ing cs 2 ‘The slaine cause sentence (___} 69 nom defining tase ve us {xt infomation. This Infomation not ester to understand the main point ofthe sentence “The tw types of ses ate diferent terms of grammer and punctuation, >> Far move information on relative clauses, rum to page 16% 1 Look at the following sentences andl decide whether they aze defining (D) or someting (8) relative clauses 1 The design that we slectel was in fst the most expensive, 5 2. Wayne Calloway, who is rm our Glsgon oft, wl be aking a presentation ofthe new projet The new investment plan, whic was announced on ‘Weave ve years to complete job, $5 ‘Thisis Jane Stewart, whose company manufactures ommpute sate 6 ‘The Marketing Department i the one whose contribution thas ben the most signiicant ths yes 44 The manager who made the mistake Tos oooogd 2 Join cach pair of sentences using a defining relative cause Example Welgncd an agreement. Hl lve ws exclusive sights t0 several rok Te apement while we signed wil gt us exch gts to several prac 1 We ese videos fr tating purposes, This one af them “This sone of 2 eft a vont on your desk at nigh. Have you tea It? Nave you 3 We nterviewed some cddates They were highly qualified The caidas i 4 Asectetary’ comptes crashed ast week. Whals her name? celia eRe eee 5. Rywoman intadvced me wo M Rss She way Australian, The woman see From which sentences could the weative pronoun be omitted? Why? unitiele 3 Choose the non-defining relative clause which best completes each ofthe sentences below: 1 The fam’ 300 employers, , deelded to goon strike 2 The report... contained many interesting eas on how to promote our new products “Tet, inten to expand ls presence in Eastern Europe. The new machinery, is not as fficlnt 39 we had hoped Professor Harding, wll be the main speaker a thls year’ conference KB Opti, has over 3 hundred patented products ‘The Chairman, .», maintains close rations withthe company's major investors, ‘whose engineers are among the mest brillant inthe county whlch cost the company over £2 m weve sares had not ben increased who was elected t the Hoatd Ist year Which as ten by our Marketing Manager which tas recently signs a contact with a Polish manufacturer who i specialist in American management techniques Skills Focus Speaking bo thequetionnare, then compare your answers with a partner. ai pane eet reper ARN in en ee Soe eae {O. © Jjumt he to gs happen P52 1m ming ower hard or ‘someting ea want Ob Tindmp home envionment moe stimulating tan Wor. ‘ Papa werk sts mo but or he . ‘tro wt my ate Ho. 1. 1am cute nappy 1 exwete oer peope's secu Fen mate vy quck Seis teen usualy wort somes ont Bator mating a decion I noes tie to tt ee J aways eat te ext cargos ctany siuaton Tine te exchoment oak bo it. Forme safety i the most imporant

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