I. Give Russian equivalents to the following word combinations:

to be good at; to require; to buy and to sell goods; trading; to be in­volved in all these activities; banking; insurance; retail trade; catering; to do business; profitable; to put money into the business; in return for a share of the profits.

II. Give English equivalents to the following word combinations:

основываться на здравом смысле; удовлетворять потребности; предлагать услуги; производить товары; управлять фирмой; единоличный предприниматель; подоходный налог; торговать; разделять ответственность за долги; принять решение; компания с ограниченной ответственностью.

III. Answer the following questions.

1. What is a small business? Give examples. 2. What services do you know? 3. Is business an easy or a difficult kind of human activity? 4. What types of business do you know? 5. Why do people like small business? 6. For what purpose do people do business? 7. What business do you think is good? 8. Are production of goods and provision of services profitable? 9. Has doing business become very popular everywhere nowadays? 10. Is doing business a new and perspective tendency in modern life? 11. Do you prefer to work as a sole trader, a partnership or a limited company? Why?

Unit 2 Text 1 My business

Whenever a man sets up a business it is because he feels he can produce some useful commodity or service which will be needed by his fellow citizens. In return he expects to be able to earn a profit on his business. To conduct his affairs efficiently and profitably the businessman must have some knowledge of accounting. Potential bussinemen are supposed to know terms such as: profit and loss, cash flow and balance sheets, assets and liabilities and others.

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 lawyer's for consultation. After clarifying all the details of my project and my financial possibilities he recommended me to set up a small business in the field of services. According to the lawyer anyone who wants to set up a small business is to make sure that he or she is choosing one which will work and yield a 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.

I knew there were many car owners in my neighbourhood. Why not open a car service station? – said I to myself, and got down to business. One of the difficulties I was faced with 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 I 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 my lawyer's 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?