1.Акционерный капитал. Виды ценных бумаг. Способы привлечения капитала. Паевые инвестиционные форды.

Company shares can be bought when a firm starts trading or issues more shares, or when other investors are selling their shares. If a company makes a profit, some of it is shared among the share and debenture holders.

Some types of shares are a gamble, some are less risky.

Debentures

• not shares but direct loan to a company

• carry a fixed interest (not depending on company’s profit)

• are always paid first (before shareholders)

• may be bought and sold on the Stock Exchange

Preference shares

• fixed rate of interest (if the company has made enough profit to paу it)

• paid after debenture holders, before ordinary shareholders

• voting rights limited (little control over the company)

Cumulative preference shares

• if profit is not enough in any year to pay the full interest it is made up to cumulative preference shareholders in later years when money is available

Ordinary shares (eqиities)

• paid after preference shareholders

• dividend directly depend on profits

• largest risk

• considerable voting rights (more control of the business)

Blue chip shares

• in well-known companies with reliable and efficient management

• carry less risk than other ordinary shares

Deferred shares (founders shares)

• paid last of all what may be left over from the profits

• strongest voting rights (often held by the people who started the company) and give more control over the firm and its directors

Rights issue

• extra shares offered to existing shareholders at a price below that which they would fetch on the market

• shareholders may sell their 'right' to buy these shares

• are good investment (because of low cost)

Unit Trusts – organizations that enable people with limited savings and little financial knowlege to invest in а wide range of stocks and shares without paying high Srock Exchаnge charges. The Trust managers offer Units for sale directly to the public: with the money received they buy shares in many companies and/or Government stocks.

2. Предпринимательская революция. Молодые предприниматели (преимущества и недостатки).

The enterprise revolution began when M. Thatcher came to power in 1979. In modern globalizing world young entrepreneurs are not a rare case. 1 of 8 startup businesses today is founded by a person aged 16 to 24.

Advantages:

• Possibility to become a self-made millionaire in your early years

• Lots of organizations to help you (special trusts and helplines) – Prince’s Youth Business Trust

• Customers believe you don’t have preconcieved ideas and choose you

• Being self-employed means you can keep all your profit (+secrecy of financial records)

• The simplest form of busines

Disadvantages: (face great barriers)

• Success comes at a price (you have to work very hard, have no free time + throw social life out of the window)

• High risk of failure (beacause of shortage of business and real life experience)

• Difficult to raise the initial capital (to find money to start your business, many banks turn down for a loan)

• Customers and suppliers often percieve you with prejudice (they think you are naive and inexperienced)