Reading Five : Setting Up Own Business

1. Read the dialogue about Gast’s plans.

Success has always been easy to measure.

It is the distance between one’s origins

and one’s final achievement.

Michael Korda

Hans Gast is taking a business course at Cardiff Polytechnic. He wants to set up his own business, based in Cardiff. He is sharing his plans with Richard Price, his groupmate.

H.G.: Richard, there is something I want to talk to you about.

R.P.: Yes, Hans. I’m all ears.

H.G.: Have you decided yet what to do after graduation?

R.P.: To be honest, everything was decided long ago. I’m going to join my father’s company as an assistant manager to gain first-hand experience. You know he is planning to retire soon and leave the management of the firm to me.

H.G.: That’s fine! I am sure you have a promising future. As for me I’ve made up my mind to set up a small business, with myself as a sole proprietor.

R.P.: No wonder, you’ve always been considered to be an entrepreneur by nature. And what sort of business do you have in mind?

H.G.: A refrigerated road transport business. I shall undertake deliveries for chilled food distributors, offering them a service on which they can rely at short notice and in case of emergency.

R.P.: That sounds great! Are you confident that there is niche for this service? I wonder if you have made any enquiries.

H.G.: Naturally. While following a marketing course I contacted a number of firms. Their response was very favourable.

R.P.: What are you planning to start with?

H.G.: Initially, I shall have one truck with a load capacity of 1.5 tons. I shall drive the truck myself and also employ part-time drivers.

R.P.: As far as I know, you are not good at bookkeeping.

H.G.: You’re right! This is one of my weak points. I’m absolutely hopeless at it. But my wife is brilliant at keeping accounts. In fact, she will help me with administration, bookkeeping and telephone enquiries.

R.P.: You’re lucky to have such a wife. Am I right in thinking that your business will be run from home?

H.G.: Exactly. We’ll use a room in our house as a starting point, until we can find a small office to rent.

R.P.: It’s true that the sole proprietorship has a number of advantages. I personally think that the key one is that your financial investment need not be large. By the way, how much capital do you have?

H.G.: To finance this venture, I have £10,000 capital, but I’ve calculated that my start-up costs will total £25,000. I understand I should draw a business plan and approach my bank for a loan of £15,000.

R.P.: That’s what I was going to suggest. Why don’t you telephone your bank manager and make an appointment with him to discuss it?

H.G.: That’s right! I’ll do it right away.

2. Working with Words

1. Translate the following phrases into Russian and make up sentences of your own with these phrases.

To join one’s company, a promising future, to make up one’s mind, to set up a small business, to be an entrepreneur by nature, a refrigerated road transport, chilled food, niche, a load capacity, to employ part-time drivers, start-up costs

2. Translate the following phrases into English and make up a situation of your own with these phrases.

Делиться планами, уйти на пенсию, частный предприниматель, заниматься поставками, незамедлительно, в случае крайней необходимости, наводить справки, благоприятный ответ, грузовик, коммерческое предприятие, достигать (о расходах), заём (ссуда)

3. Writing

Write a composition ”My Plans For the Future” using words and expressions from the dialogue.