I. Give Russian equivalents to the following word combinations:

to have a chance of prospering; to have little impact on the course of events; strong-minded, positive risk-taker; to seize an opportunity; to start a business; to range from; to achieve monetary gain; to establish a comfortable working environment; to engage in manufacturing or trade; to gain wealth and power; to create jobs; to establish a business; well-run business; to run a business; to control a business properly; to require an appreciation of the crucial factors; to be successful in smth; to overcome short-comings; to cover the short-fall of working capital; defeat; failure of a small business venture; to grow into big businesses.

II. Give English equivalents to the following word combinations:

величайший определяющий фактор успеха бизнеса; верить в свой бизнес; обвинять внешние факторы; обычный образ предпринимателя; конкуренция среди производителей и торговцев; производить больше товаров по более низким ценам; преуспеть на любом рынке; оценивать возможные причины провала; недостаток умения; реально оценивать сильные и слабые стороны; оказаться ценным опытом; стать частью процесса сортировки рынка; способствовать экономической стабильности.

III. Answer the following questions.

1. What type of a person may succeed in building a business? 2. What are the aims and motives for establishing small firms? 3. In what way do small businesses create competition among manufacturers and merchants? 4. What are the economic contributions of small business? 5. Is it necessary to be an expert at everything to run a small business? 6. What must you choose carefully to succeed in your business? 7. What must you do to control your business properly? 8. What may be the causes of failure in business? 9. In what way should you watch out the crucial factors in your business? 10. What are the three criteria for successful business? 11. What does a failure of a small business venture often turns out to be? 12. What is the positive effect of unsuccessful attempts to start a business?

IV. Read and translate the following texts. What special problems face small business

Small firms (with, say, less than 500 workers) are often faced with the problems of limited capital. This has a number of side-effects. It means first that they are unable to benefit from economies of scale. Bank managers will be less inclined to lend them funds and will charge them higher rates of interest when they do.

People will be prepared to buy shares in well-known companies. They will not want to buy securities of any sort from small unknown companies. Whereas large firms can threaten to withdraw their business, if debts owing to them are not settled on time, they tend to be regrettable slow on paying their own bills.

An engineer may set up a firm using his technical skills as the basis of the business. As the business grows, his defects as a marketing manager, accountant and personnel manager will begin to appear. He can’t be an expert in all sections of the business, nor can he afford to consult his larger competitors.

The small firm is also unlikely to be able to afford sophisticated technological equipment such as a mainframe computers or visual display, however useful they might be. Advertising cost spread out over a large number of units may be insignificant, but given a smaller level of output they prove an intolerable burden. Inevitably, television advertising tends to be a resource available only to the larger concerns.