Text 2: Types of businesses in the uk

Most businesses in the United Kingdom operate in one of the following ways:

■ sole trader

■ partnership

■ limited liability company

■ branch of a foreign company.

The sole trader is the oldest form of business. There are many one-man owners, for example: a farmer, doctor, solicitor, es­tate agent, garage man, jobber, builder, hairdresser etc.

The partnership is a firm where there are a few partners. They are firms of solicitors, architects, auditors, management consultants etc. The names of all the partners of the firm are printed on the stationery of a partnership.

The most common type of company in the United Kingdom is the limited liability company. At the end of the name of such a company the word Ltd. is used. For example: Wilson and Son Ltd. Many of such companies are joint-stock companies owned by shareholders.

Limited liability companies are divided into public and private ones. Only public companies may offer shares to the public at the stock exchange. The names of such companies end in p.l.c. which stands for public limited company. For instance: John and Michael pic.

Private limited companies may not offer shares to the public. The names of such companies end simply in Ltd.

A branch of a foreign company is a part of a company incor­porated outside Great Britain but acting under the law of the UK. Usually these companies act in the UK under their nor­mal foreign names.

Types of business
Private sector				Public Sector	Co-operative
Sole trade	Partnerships	Limited company		Nationalised industry	Producer co-op	Consumer co-op
		Private limited company	Public limited company

Vocabulary

sole – единственный, исключительный

trade – 1)торговля; 2) порофессия (неквалифицированная)

to trade - торговать

trader - торговец

partner – участник, партнер, пайщик

partnership – участиие, товарищество

liability - ответственность

limited liability- ограниченная ответственность

limited liability com­pany – компания с ограниченной ответственностью

branch - отделение

solicitor - адвокат

estate – 1) недвижимое имущество; 2) имение, поместье

estate agent – агент по купле-продаже недвижимого имущества

jobber – маклер, комиссионер

to build - строить

builder - строитель

building – здание, сооружение

hairdresser - парикхмахер

architect - архитектор

architecture - архитектура

auditor – аудитор, ревизор

management – управление, менеджмент

stationery – канцелярские принадлежности, почтовая бумага

joint – объединенный, совместный

joint-stock company – акционерная компания

shareholder – держатель акций, акционер

to divide- делить(ся), разделять(ся)

exchange – биржа

stock exchange – фондовая биржа

to offer - предлагать

public – публичный, государственный, общественный

the public – публика, общественность

to incorporate – зарегистрировать как корпорацию

Grammar Revision 2: Личные и притяжательные местоимения (Personal and Possessive Pronouns)

Личные местоимения		Притяжательные местоимения (Possessive Pro­nouns)
в именительном падеже (Personal Pronouns in the Nominative Case)	в косвенном падеже (Personal Pronouns in the Objective Case)
I you he she it we you they	me you him her it us you them	my/mine your/yours his/his her/hers its/its our/ours your/yours their/theirs

Exercises

10. Use the appropriate pronouns, read and translate the sentences:

(1) Could you tell (I) about types of businesses in your country?

(2) I don't know much about {they).

(3) Could you give (I) a few examples?

(4) Last week I spoke with {he) about business hours in various coun­tries.

(5) He told {we) some new facts.

(6) Who told (you) that?

(7) How long did you speak with (she)?

11. Translate these word combinations into English and make sentences:

их фирма и ее филиалы, их акционеры, ее отделы, ее менеджеры и аудиторы, его партнер, ее адвокат, их агент по недвижимости, ваша ответственность, наш договор, их фондовая биржа, их замечания к договору, наша сверхурочная работа, ваши праздникиих праздники

12. Underline the suffixes in the following nouns:

trader, owner, farmer, solicitor, auditor,architector, jobber, builder, foreigner, shareholder, hairdresser, manager, lawyer, teacher, worker

13 Complete the following sentences:

(1) Very often farmers ... work as ...

(2) It is quite common for solicitors ... to form.

(3) The names of all the partners of the firm ...

(4) At the end ... Ltd is used.

(5) At the end ... pic. is used.

14 Match the terms and their definitions:

limited liability company a company incorporated outside Great Britain

joint-stock limited liability com­pany a company registered in Great Britain

public limited liability company a company acting under the Brit­ish law

private limited liability company a company acting under its nor­mal foreign name

Ltd.

plc.

15 Sum up what the text says about:

sole traders public limited companies

partnerships private limited companies

shareholders branches of foreign companies

16 Answer the following questions:

(1) What is the most common type of company in the UK?

(2) Are all limited liability companies joint-stock companies?

(3) To what sector of economy do all these companies and sole traders belong?

(4) What other two sectors of economy does the figure show?

(5) What can you say about the types of the following companies:

Fine Furniture Ltd.

General Foods pic.