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VI. Answer the questions using the text “A sole proprietorship”

1. What are three different ways that a business can be privately owned?

2. What forms do most European countries have?

3. What forms do the businesses in Russia have?

4. Name some businesses that are likely to be sole proprietorships.

Why do you think so?

5.Name some businesses that are not likely to be sole proprietorships.

Why do you think so?

VII. Read and translate the Dialogue.

Jim Hi, Alice. How are you getting on?

Alice Fine, as usual, thanks, Jim. What about you?

Jim I'm OK. It's nice to see you.

Alice You too. I'm glad you are not in a hurry and we have time to talk

today.

Jim Sure.

Alice Can you give me a piece of advice?

Jim Well, I'll try if I can.

Alice You know I've been always good at cooking. It interests me. I am thinking of starting my own business – a cafe.

Jim It might be a good idea.

Alice I guess I must learn about the responsibilities of going into business.

Jim Are you going into this business by yourself?

Alice Exactly. I'd like to have a cafe with my name on it where I make the

decisions and where I control the profits.

Jim You seem to be resolute so I'll try to help you. If you go into business

alone, it is called sole proprietorship. In such case you needn't consult

a lawyer to form the business. You can start or you can stop your

business whenever you like.

Alice It sounds encouraging. What else can you tell me?

Jim There is no need to consult partners or a board of directors. So you

can put your policies into effect quickly. You decide on your vacation,

hours, salary, hiring and firing.

Alice Well, that's not bad.

Jim Wait a moment. I believe I have to tell you about the risk involved.

Alice What do you mean?

Jim First of all, the most important risk is that you have unlimited liability.

It means that you are responsible for all your business debts.

Alice So if the business fails, I have to declare personal bankruptcy, don't I?

Jim That's what I mean. You can lose your personal assets.

Alice Well, it's rather disappointing. What other things should I know?

Jim You won't get tax benefits which partnerships or corporations can get.

Alice I know about it. By the way do you know of a good accountant to do

my taxes.

Jim Of course. You'll also have to hire a good book-keeper if you can't do

your books yourself.

Alice I can't say anything definite about that. I have to think it over. What

else, Jim?

Jim Well, I am a bit hungry, why don't we have a snack together and

discuss the things in the cafe.

Alice You are right as usual. Let's go.

ACTIVE VOCABULARY

piece of advice – совет

can you give me a piece of advice — не могли бы Вы дать мне совет

I am thinking of starting my own business — я думаю о том, чтобы начать

свое дело

responsibility — ответственность

to make decisions — принимать решения

to control the profits — контролировать прибыль

to need a lawyer — нуждаться в юристе

it sounds encouraging — это вдохновляет (звучит вдохновляюще)

to consult partners — консультироваться с партнерами

board of directors — совет директоров

to put policies into effect quickly — быстро достичь хороших

результатов

to hire — нанимать

to fire — увольнять

to decide on vacations, hours, salary, — решать вопросы, связанные с

hiring and firing отпуском, продолжительностью рабочего дня,

зарплатой, наймом и увольнением

to have unlimited liability — иметь неограниченную юридическую

ответственность

to be responsible for all business debts — нести ответственностьза

производственные долги

to fail — терпеть неудачу

to declare personal bankruptcy — объявить личное банкротство

personal assets — личная собственность

tax benefits — льготы по налогообложению

to get tax benefits — получить льготы по налогообложению

accountant — бухгалтер

book-keeper — бухгалтер

to do books — вести бухгалтерский учет


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