Vocabulary

to fail in business – потерпеть крах в бизнесе

recession – регресс, спад; снижение, падение

industrial action – забастовочное движение

strike – забастовка, стачка

to contribute to the rapid disappearance of many little enterprises – способствовать быстрому исчезновению многих малых предприятий

to account for – являться причиной

failure – неудавшееся дело, неудача, провал

to be undercapitalized – не иметь достаточного капитала

available – доступный; имеющийся в распоряжении, наличный

to be in trouble – быть в беде, в неприятной ситуации

therefore – поэтому, следовательно

to attempt – пытаться, стараться, стремиться

to succeed in business – добиться успеха в бизнесе

facilities – оборудование; здания (заводов, фирм и т.п.)

office furniture – офисная мебель

fittings – оборудование; оснащение

to meet expenses – покрывать расходы

to carry out the research of the market – проводить изучение конъюнктуры, возможностей рынка

to be in demand – пользоваться спросом

to take into account – принимать во внимание, в расчет

to install the right equipment – устанавливать необходимое оборудование

to hire a suitable workforce – нанимать подходящую рабочую силу

to ensure a supply of raw materials – обеспечивать поставку сырья

to make haste – спешить, торопиться

haste makes waste – поспешишь – людей насмешишь

I. Give Russian equivalents to the following word combinations:

recession; strike; failure; available; to give a real chance to succeed; to be in trouble; to attempt to start a new venture; facilities; expensive office furniture; fittings; to meet expenses; to carry out the research of the market; to take into account; to keep a close check on prices and customer credit; to make haste.

II. Give English equivalents to the following word combinations:

потерпеть крах в бизнесе; забастовочное движение; способствовать быстрому исчезновению многих малых предприятий; являться причиной; не иметь достаточного капитала; пользоваться спросом; устанавливать нужное оборудование; нанимать подходящую рабочую силу; обеспечивать поставку сырья.

III. Answer the following questions.

1. Why do small businesses fail? 2. Pick out terms that seem professionally important to you to do discuss the problem.

Text 2 Bankruptcy

If your business is going badly, you don't make enough money and build up many debts which you can’t pay off, it's the first indication (sign) that you should take urgent steps to improve your financial position, otherwise you'll go bust and your business will go into liquidation. The latter may be voluntary or compulsory. If it is voluntary, the directors promise to pay all debts within a certain period of time. Compulsory liquidation occurs when an un­paid creditor applies to the courts.

It's common knowledge that the director of the company which has run bankrupt must make a full statement of the company's affairs, listing its assets and liabilities, and giving reasons why it is in debt. The company must also stop trading. Directors of large companies sometimes give press-conferences to explain the situation to the shareholders. They can also give a televised talk on the matter.

One of the biggest bankruptcy cases was that of William Rainbow in the U.S. in 1950s. His company dealt with buying, developing and selling property. The company was doing very well until mid-50s when the price of property fell sharply, and his company suffered enormous financial losses. Little by little Mr. Rainbow's debts amounted to a huge sum which he failed to pay off however hard he tried.

All bankers and other influential people with whom Mr. Rainbow was once on friendly terms refused to stretch a helping hand to him. William was in despair. Even his best friends turned their backs to him. At last the most dramatic time came when his creditors decided to bring an action against him (to sue him).

The court agreed that Mr. Rainbow could be discharged in 3 months' time if he paid half the sum of his debt. But William failed to do so, and soon was imprisoned. While in prison his nervous strain was so great that once in the morning he was found dead in his cell. "Committing suicide", was the conclusion of the prison's doctor. That was the end of once prospering business and its unlucky director.