Text: Small Business Categories

There are five different classes of small business: (1) service businesses, (2) retail businesses, (3) construction firms, (4) wholesales, and (5) manufacturers. What kind of business would be the most attractive career choice for you? Let’s review the industries:

1.Service business. You are already familiar with the services provided by dry cleaners, travel agencies, lawn-care firms, beauty parlours, and other services that cater to you and your family. In your carrer search, be sure to explore services such as hotels/motels, health clubs, amusement parks, income tax preparation organizations, employment agencies, accounting firms, rental firms of all kinds, management consulting, repair services (for example, computers, robots, VCRs), insurance agencies, real estate firms, stock brokers, and so on. There are many exciting careers available in such firms.

2.Retail businesses. You have only to go to a major shopping mall to see the possibilities in retailing. There are stores selling shoes, clothes, hats, skis, gloves, sporting goods, ice-cream, groceries, and more. Do any of these retail stores look like interesting places to work?

3.Construction firms. Drive through any big city and will see huge cranes towering over an empty lot where major construction is taking place. Would you enjoy supervising such work? Visit some areas where construction firms are building bridges, roads, homes, schools, buildings, and dams. There is a feeling of power and creativity in such work that excites many observers. How about you? Talk to some of the workers and supervisors and learn about the risks and rewards of small construction firms.

4.Wholesalers. Have you ever visited a wholesale food warehouse, a wholesale jewellery centre, or similar wholesale firms? If not, you are missing an important link in the small business system, one with much potential. Wholesale representatives often make more money, have more free time, travel more, have more fringe benefits, and enjoy their jobs more than similar people in retailing. Check it out.

5.Manufacturing. Of course, manufacturing is still an attractive career for tomorrow’s graduates. There are careers for designers, machinists, mechanics, engineers, supervisors, safety inspectors, and a host of other occupations.

There are thousands of small farmers who enjoy the rural life and the pace of farming. Small farms are usually not very profitable, but some that specialize in exotic crops do quite well.

Unit 2. Corporations. Advantages and disadvantages of corporations.

I.Read and memorize the following words:

concept – поняття

artificial – штучний

to prosper - процвітати

abundance - достаток

to solve - вирішувати

to invоlve - заполучатись

advantage - перевага

disadvantage - недолік

entity – суб’єкт, юридична особа

to raise - піднімати

liability - відповідальність

limited - обмежений

commitment – зобов’язання

to diversify - різноманітнити

benefit – користь, пожиток

loss - втрата

equipment - обладнання

to hire - наймати

to fail – терпіти невдачу

red tape - бюрократизм

to respond - відповідати

unemployment - безробіття

income - прибуток

burden - тягар

to distribute - розподіляти

harshy - жостко

to levy – обкладати податком

to discourage – розчаровуватися

hassles – труднощі

to outweigh – переважати

fringe benefit – додаткова вигода

Ex.1. Give English equivalents of the following:

відповідальність перевага

недолік додаткова вигода

суб’єкт прибуток

обмежений зобов’язання

безробіття піднімати

Ex.2. Match words from list A with words from list B.

A B

1. to prosper a) втрата

2. to solve в) відповідальність

3. loss с) процвітати

4. to hire d) розприділяти

5. to distribute е) перевагати

6. to outweigh f) обмежений

7. limited g) вирішувати

8. liability h) наймати

Ex.3. Fill in the blanks with appropriate words (management, shares, entity, limited liability, to invest, large – scale, shareholder, taxed, market changes, lawyers and accountants)

1. Many people ... their money in business.

2. Anybody can become a...

3. ... are bought and sold on stock Exchange.

4. A corporation is an artificial...

5. A major advantage of corporations is the ... of owners.

6. ... is through Board of Directors especially appointed to run the busines.

7. A corporation is a ... organization.

8. Large corporations sometimes become too inflexible to respond quickly to...

9. Corporate income is... twice.

10. Incorporation may involve expensive...

Ex.4. Read and translate the following texts: