Partnership
(Two friends, Martin and Barbara, are having lunch together in a restaurant)
Martin: Well, its been a long time, Barbara. What have you been doing?
Barbara: Ive been pretty busy. You know, I went into business with my friend, Jean.
Martin: Oh, yes. How is it going?
Barbara: Pretty well. We get along quite well and the shop is beginning to attract more customers.
Martin: Good. Are you two a partnership?
Barbara: Yes. Im very pleased about it. We seem to have the right combination. Jeans background is in accounting. Shes the one who is good at keeping the books and ordering stock.
Martin: And you?
Barbara: Well, you know, Ive always liked talking a lot. I guess Im rather good with customers. I enjoy selling.
Martin: Sounds interesting. I guess its not too risky a business.
Barbara: We havent had any problems, although I suppose all business can be risky. Being partners, were both liable.
Martin: Did you both put the same amount of money into the business? Or do you mind my asking?
Barbara: To tell you the truth we didnt invest the same amount of capital. But weve combined our resources very well, I think. It seems to be a good deal for both of us.
Martin: It sounds like it. That is one advantage of a general partnership. One partner can invest less capital than the other-in fact, no money at all-but a partner can contribute important services or skills, sometimes just a name or reputation.
Barbara: Exactly.
Martin: What kind of arrangement do you have for distribution of profits and losses?
Barbara: Theyre equally shared. We hope to be in business for a long time.
Martin: Good for you. Youve really become very knowledgeable about business.
Barbara: Believe me, Im still learning. The subject becomes quite technical.
Martin: But Im glad to hear youre doing so well. Next time youll take me to lunch.
Vocabulary
1. partnership -
2. to get along well -
3. to be pleased - -
4. to keep the books -
5. to enjoy doing smth -
6. background ,
7. stock -
8. be liable -
9. advantage -
10. skills -
11. distribution -
12. they are equally shared -
Ex. 3. Read and translate the text. Answer the questions.
Setting up a Small Business
Not long ago I decided to set up a small business. As I had no experience in business activities it was difficult for me to choose an appropriate business. So I went to the lawyers for consultation.
After clarifying all the details of my project and my financial possibilities he recommended me to set up a small business in field of services. According to the lawyer anyone who wants to set up a small business is to make sure that he/she is choosing one which will work and yield big profit. This requires a thorough investigation into the customers needs. So, the first step I had to take was to study my future customers needs and wants.
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I knew there were many car owners in my neighborhood. Why not of open a car service station? - said I to myself, and god down to business. One of the difficulties I was faced with (I encountered) was lack of money, and I had to borrow it from the bank. The next day I made a loan of 2 mln pounds, and was on the seventh heaven because now I could put my project into practice.
Now, at the prime of my business life I still remember me lawyers words: when choosing a business weigh all pros and cons and ask yourself the questions: what kind of customers am I going to serve upon? How many potential customers are there in my district? How shall I attract customers? What products or services shall I offer?
Vocabulary
1. to set up a small business
2. appropriate
3. lawyer ,
4. to make sure ;
5. to yield profits
6. thorough investigation into
7. to attract
8. to be faced with (to encounter)
9. loan -
10. to borrow
11. in the prime of
12. to weigh all pros and cons
13. district ()
14. to choose
Answer the questions:
1. What did you decide to do not long ago?
2. Where you experienced in business activities?
3. Whom did you decide to consult?
4. What did the lawyer recommend you to do?
5. What is it necessary for a would-be businessman to keep in mind /, /?
6. What difficulties did you encounter when starting your business?
7. Why were you on the seventh heaven when you solved your money problem?
8. What words of your lawyer do you still remember?
