I. Give Russian equivalents to the following word combinations:

to produce useful commodity or service; profit and loss; assets and liabilities; to have no experience in business activities; lawyer; to clarify all the details; financial possibilities; to make sure; to yield a profit; to be faced with smth; to borrow money from the bank; in the prime of; potential customer.

II. Give English equivalents to the following word combinations:

учредить торговое предприятие; быть в состоянии заработать прибыль; вести дела эффективно и с прибылью; движение денежной наличности; балансовый отчет; требовать тщательного изучения; изучить потребности и желания покупателей; взяться за дело; недостаток денег; взять ссуду; взвесить все "за" и "против"; привлекать покупателей.

III. Answer the following questions.

1. What did you decide to do not long ago? 2. Were you experienced in business activities? 3. Whom did you decide to consult? 4. What did the lawyer recommend you to do? 5. What is it necessary for a would-be businessman to keep in mind? 6. What difficulties did you encounter when starting your business? 7. Why were you "on the seventh heaven" when you solved your money problem? 8. What words of your lawyer do you still remember?

IV. Translate the following sentences into English.

1. Я сам контролирую прибыль своего предприятия. 2. Если вы хотите заняться частным предпринимательством, обратитесь за консультацией к юристу. 3. Мне нужно проконсультироваться с юристом. 4. Я хочу вложить деньги в недвижимость (real estate). 5. Наш магазин привлекает все больше и больше клиентов. 6. Я сделал правильный выбор. Это дело приносит много прибыли. 7. Я боюсь нести полную юридическую ответственность. 8. Я не отвечаю за производственные долги. 9. Мы вкладываем в дело одинаковый капитал. 10. Мы хорошо ладим (to get on with smb. well) с партнером. 11. Она хорошо разбирается в бухгалтерском деле (accounting).

Text 2 Doing business together with a partner

Before starting your business there are a number of decisions you will have to make. For example, who should you buy your supplies from? What premises will you work from? How much control do you want to keep in the business? This last question depends on whether you decide to work as a sole trader, a partnership or a limited company.

It's common knowledge that doing business has become very popular everywhere. At present it is a comparatively new and perspective tendency in modern life. So, not long ago I made up my mind to go into business. Following my lawyer's advice I chose small business in the field of services. It goes without saying that I weighed all pros and cons before making a decision. I understand that production of goods is very profitable, but provision of services is profitable too. After all, people do business for a profit.

At first I wanted to be a sole trader, but then I changed my mind and organised a partnership. I went into business with my friend Jane. She has a solid background in accounting, she is good at keeping the books and ordering stock. As for me, I enjoy selling and like talking to customers.

So far our business is going pretty well, and the shop is beginning to attract more customers. I won't be boasting if I say that we begin to make a good profit. By the way, we have a certain arrangement for distribution of profits and losses. They are equally shared. I hope to be in business for a long time. I've really become quite knowledgeable about business.