The Language of Small Business Texts and Vocabulary Training (for students of Economics) Part 1. Учебное пособие

1.to exchange smth. for money. Opp. to buy

2.to deal in by way of trade.

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to sell out – to come to the end of one's stock

to sell off- to get rid of one's stock at a reduced price to sell up – (a) to sell one's business.

2.to sell one's entire stock before closing the business

3.to seize a debtor's property to pay his debts

3.to cause, influence people to buy

4.to be in demand; to be bought

Selling – finding a buyer; offering to sell; persuading people to buy.

Selling price:

Syn.: ask(ing) price, offer(ed) price. Stk. exch. – the price at which a willing seller will sell.

End-of-season sale – a clearance sale in which stocks of goods, esp. clothing, left unsold in a shop at the end of a season are sold at reduced prices to clear space for the new season's stock. In Britain, many such sales take place in January and July. Cf: clearance sale; closing-down sale.

Working capital — the stock of money needed by a business in order to keep trading or to carry on production. It consists of stocks and liquid resources (cash and things that can quickly be turned into cash); and it is equal to the difference between the current assets and the current liabilities.

Reference — persons or firms named by a customer asking a supplier for credit, from whom the supplier can get information about the business reputation of the customer.

Credit rating – a system of classifying customers and possible future customers according to their financial strength and the degree of trust that a supplier can place in them.

Market research – the work of finding out what kind of goods consumers want, what they are willing to spend and how to pursuade them to buy. This information is used by manufacturers before producing a new product and putting it on the market. The work is done by market researchers who made a market survey, using various methods such as questioning large numbers of possible customers and retailers, and market tests, testing the market by selling the product in a small area.

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Consignment – goods sent by the owner to an agent for sale on commission, the consignor keeping the ownership of the goods until the agent has sold them. Goods sent under these conditions are said to be gent on consignment.

Agent, com. – a person or organization possessing power to act for another (the principal) in making business arrangements with third parties and in buying and selling goods. An agent is said to «represent» his principal and must always perform his duties in the principal's interest and with care and skill; and he must give his principal account when called upon.

Distributor, com. – a retailer who has arranged with one or more suppliers to sell a product or range of products. Where he is the only seller in a particular place or area he is known as the sole distributor. He is often said to have a sole agency or exclusive agency, but he is strictly not an agent because he buys and sells for himself and not as the representative of another party.

Mail order, com. – an order for goods to be sent direct to the customer by post.

Abbr. M.O. Remuneration:

1.money paid for services, not for goods.

2.salary or wages.

Commission:

1.a method of paying to employees such as sales representatives, shop assistants and others, some extra money, called a sales commission, over and above their normal wage or salary to encourage them to sell as much as possible.

2.payment to agents and others for their services, usu. in buying and selling goods, and calculated as an agreed percentage of the amount of business done or introduced.

Bonus:

1.a special payment to employees over and above what is regularly due, usu. to encourage better work, or as reward for dangerous or unpleasant work, or to share out an excess of money.

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2.com. – an extra allowance, over and above the usual discount, offered by producers to dealers for placing large orders esp. for a new product. A bonus is usu. expressed as a percentage of the value of goods bought, and the amount per cent may vary according to the size of the order.

Cf: quantity discount

Invoice, n. – a bill relating to the sale of goods and services. A separate document, sent by the seller to the buyer, for each sale, giving details of the goods sold. An invoice may be a record of a credit sale, or a demand for payment, or a paper giving information. Every invoice must give certain basic information: the names and addresses of the seller and the buyer; the dates and numbers of the invoice and the order; a description of each kind of goods bought, the quantity, price per unit and total price of each kind; the total price of the goods; the discount allowed; the total amount of the invoice. Depending on its purpose, an invoice may also give: the number of packages, their nature (bales, cases, cartons, etc.) and their marks; responsibility for insurance of the goods while being carried, etc.

Overheads – the expenses of running a business, esp. those fixed costs that cannot be related to particular units of goods produced or goods sold, such as rent, rates and management salaries.

Mark-down – a reduction in price, usu. to encourage a quick sale. The amount of the mark-down may be expressed as a percentage either of the former price, e.g. a reduction from l to 75 p. is a 25% mark-down; or of the reduced price, here 33.1/3 %.

Definitions of terms

Агент но продаже – продает товары одного или не- скольких предприятий по договору на рынках с высокой конкуренцией; сам устанавливает цены и условия сбыта, может торговать изделиями конкурентов, очень тщательно изучает рынок.

Распродажа – продажа товаров в магазине по специаль- но сниженным ценам в течение ограниченного периода вре- мени с целью избавиться от товаров, оставшихся в наличии.

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Оборотный капитал – превышение текущих активов над краткосрочными обязательствами, позволяющее компа- нии финансировать свои текущие расходы.

Рекомендация, референция – справка о службе, отзыв,

характеристика, даваемая лицу или предприятию другим ли- цом (организацией), пользующимися доверием в деловых кругах; указываются деловые качества и кредитоспособность.

Агент по продаже товаров; комиссионер – посредник в торговых сделках; лицо, выполняющее за особое вознагражде- ние торговые поручения от своего имени, но за счет комитен- та (владельца товара).

Translate into English

1.Хорошая реклама способствует продаже товара.

2.Эта книга хорошо расходится в Египте. Ее покупают в ос- новном студенты.

3.«Раскупать нарасхват» означает покупаться населением в больших количествах.

4.Наш магазин совершает в среднем одну продажу каждые три минуты.

5.В этом месяце продажи увеличились (сократились).

6.Мы не можем предложить вам этот товар, поскольку все имевшиеся запасы (количества) уже проданы.

7.Вначалесезонафруктыпродаютсяпоболеевысокойцене.

8.Я могу дать ему прекрасные рекомендации (отличную ха- рактеристику).

9.Наши агенты – очень хорошие продавцы этого оборудова- ния в своей стране.

10.Мы поднимает вашу зарплату на 10 процентов,

11.Агенты взяли за свои услуги 10% комиссионных.

12.У вас есть право предоставить по своему усмотрению до- полнительную скидку до 5%.

13.Оставляю это дело на ваше усмотрение.

For discussion

1.In what do sales representatives differ from agents? from distributors? agents from distributors?

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2.What does developing a sales strategy involve?

3.Is mail order as one of selling methods suitable for all kinds of goods? If not, why?

4.What goods are most suitable for selling over-the-counter?

5.In the negotiations with a potential customer, what is one of the symptoms that a sale can be made?

6.What are other buying signals?

7.How can existing customers help to increase sales?

8.Why is qualifying potential customers important?

9.Why will you need some back-up organization and system if you employ salespeople, and what does this back-up organization involve?

10.What are personal selling skills and why are they important?

Summary

1.He игнорируйте своих имеющихся покупателей как спо- соб расширения объемов продаж. Стремитесь создать долгосрочные связи, чтобы полностью использовать их потенциал.

2.Существующие покупатели могут быть полезным ис- точником получения новых покупателей. Вы можете ссылаться на них в перспективных переговорах.

3.Тщательно оценивайте всех потенциальный покупате- лей, чтобы избежать пустых затрат времени и усилий. Включайте в перечень потенциальных покупателей лишь тех, кто вероятнее всего будет у вас покупать.

4.Если вы нанимаете продавцов, вам понадобится в этом оп- ределенная организация и система поддержания уровня. Вам нужно будет регистрировать информацию о покупате- лях, чтобы это помогало вам в переговорах, планировании, контролеипрогнозированиивашегобизнеса.

5.Если вы сами осуществляете торговлю, постарайтесь вы- работать в себе навыки торговли.

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Insurance

Unit 6.

Insurance

Deciding what insurance you should have must rate as one of the least exciting decisions you have to make for your business. Paying out money to cover you against hazards, which you fervently hope will not happen, ranks fairly low in satisfaction. But it should rank quite high in priority to work out what insurance you need. Failing to get the right insurance might mean the collapse and end of your business.

There are two different categories of business insurance:

•Insurance you must have by law

•Insurance you could consider to cover risks and disasters. This chapter looks mainly at insurance for your business

needs, rather than your personal needs.

Byuing the Insurance

Not only do you want the right sort of insurance, you want it at the right price and with the right company. The obvious place to start your search for your business insurance is with an insurance broker. An insurance broker is probably a better source than other people involved in business insurance, for example, an insurance company representative, an accountant or solicitor. These groups of people will probably deal with only a few companies and so may not get you the best possible quote from a company which offers a good service and with a good record of paying on claims. A broker can, in theory, deal with the full range of insurance companies, although in practice may not do so. Note that the cost of the insurance may vary depending on the location of the business; at the extreme, you may not be able to buy insurance for some areas.

An insurance broker can only be called a broker if registered with the Insurance Brokers Registration Council. To be registered,

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a broker has to behave in accordance with a code of conduct. The requirements for insurance broking businesses means getting professional indemnity insurance to reimburse customers for losses suffered as a result of the broker's negligence. And there is a compensation fund in case the broker should go bust or commit some fraud. The broker has to keep a separate bank account for clients' money and keep proper accounts.

But choosing an insurance broker or intermediary can still be tricky -being registered, for example, gives no guarantee that a broker will do a certain amount of research work on your behalf to get the best deal possible for you. Other business contacts may be able to help you by recommending someone. You should certainly consider approaching three different brokers and asking them all to make recommendations for you. Then you can choose the best.

Insurance you must have

There are certain sorts of insurance you have to have: 1. Employers Liability

You must have insurance to pay out for your legal liability if one of your employees is injured or ill as a result of working for you. The amount of cover (the amount of money the insurance company will pay out if you claim) is generally unlimited but must be at least £2 million.

2. Motor Insurance

You must insure your liability to others, known as third party liability, which occurs because of car crash or other motorvehicle accident. This includes death or injury to anybody (but not your employees while working, as they are covered by employers' liability insurance, see above) and damage to third party property including other vehicles.

A further addition to third party cover which could be worth your while is fire and theft cover. Finally, if you want to get cover for accidental damage to your vehicles, regardless of who is to blame for the accident, you want a comprehensive insurance policy.

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If you have a car or other vehicle for your own private and social use, and you want to use it for your business, you should tell your insurance company. You may need to pay an extra sum to get it covered for business.

Be clear about what the car is going to be used for when you fill in what is known as the proposal form (the form you fill in to apply for the insurance). You will probably have to pay extra money if the car is used for some purposes, such as by a sales rep. Failure to tell the insurance company may mean that it will not pay out if you make a claim.

3. Insurance Needed by Contracts

Check all the contracts you have (for example, under a lease or hire purchase agreement) to see what insurance you are committed to get.

4. Engineering Equipment

By law, certain equipment, such as pressure vessels and lifting tackle, has to be inspected and passed as safe at regular intervals. You can combine the maintenance with an insurance policy to cover you against the risk of explosion, accidental damage and breakdown.

Other Insurance you can get

1. Insurance Against Fire and Other Perils

This covers destruction or damage to your buildings and contents through fire. You can also be covered for other risks such as lightning, explosion, aircraft, storm, flood, riot, malicious damage and so on. If you work from your own home, you should check that you are protected by your own household insurance policy and tell the insurance company what you are doing.

Worth getting? Yes.

2. Insurance for Loss of Profits

This covers you if your business is disrupted by fire or some other peril. It can pay out money to pay your employees,

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maintain your profits and pay for the extra cost of your fill-in working premises.

Worth getting? Depends on your business, in most cases, yes; but if your business is small with few employees, and you could easily find somewhere to work, for example, your home, you may not consider it necessary. Note that using your home could cause problems with insurance so check with your insurance company. Rather than insure for full loss of profits, you could consider insuring for the cost of finding somewhere else to carry on working.

3. Insurance Against Theft

This covers you for loss or damage to the contents of your premises. Theft for insurance purposes means that someone has forced an entry to or exit from your workplace, so if you want to be covered against theft by your employees or visitors, you'll have to pay extra and get fidelity insurance.

Worth getting? Yes. 4. Loss of Money

Cash and near-cash, such as cheques, stamps and so on, can be insured against theft from your premises or from the homes of directors or employees of your company or in transit.

Worth getting? Yes, if your takings are in cash. Otherwise, no. 5. Goods in Transit

This insurance covers loss or damage of your goods in your own vehicles, or other means of delivery, such as post, road haulier and so on.

Worth getting? Probably, unless you don't sell in this way. 6. Credit Insurance

This protects you against your customers failing to pay. You probably will not be able to get this insurance until you have been in business some time.

Worth getting? Probably not, if you deal mainly in cash or payment on delivery. For selling on credit, by the time you can get this insurance, you will be able to work out for yourself how likely a problem bad debts will be. It is probably better to oper-

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