So You Want to Start Your Own Small Business

Anyone thinking about starting a small business should first consider his or her temperament, experience, and knowledge, as well as the most crucial decision to be made —what kind of specialized product or service to sell. After defining the market, the entrepreneur should write a business plan, fulfill all legal obligations for doing business, and find some start-up money. Starting out part time with a small investment is not a bad idea.

There are some important advantages in starting a business on a part-time basis before quitting your present job. During the early and uncertain phase of start-up, your present job can continue to provide income and benefits. Perhaps family members сan help run the business while you are at your job.

Writing a business plan is an essential step for any business owner, regardless of the size of the business. The main value of a business plan is to create a written outline that evaluates all of the economic prospects of a business. The business plan will define and focus your objectives. It can be used as a selling tool in dealing with your lenders and investors. It can uncover drawbacks and weaknesses in your planning.

Besides, there are a number of reasons to consider starting a business with a partner. You have two heads instead of one to make decisions. You will also have a highly motivated co-worker with skills complementary to your own. If you are good at making your product, it might be appropriate to have a partner who will be good at selling it. In some cases, it may be necessary to have a partner to contribute capital and share the financial risks of starting and operating the business.

Some arguments against having a partner include having to share the rewards of the business and the control in making business decisions. The worst possibility is to have a partner whose judgment is poor and whose work habits and ethics are different from your own. The details of any partnership should be spelled out in writing with what is known as a buy-sell agreement in place to determine the disposition of the business in the event of serious disagreements between the partners or the death or disability of one of the partners.

ЗАДАНИЕ № 41 (- выберите один вариант ответа)

Выберите правильный вариант ответа на вопрос:

What is the most important problem to be solved before you start your own business?

ВАРИАНТЫ ОТВЕТОВ:

 

A	what personal skills to develop	B	who of your family will run the business while you are at your job
C	what product or service to sell	D	when to start your own business

 

ЗАДАНИЕ № 42 (- выберите один вариант ответа)

Выберите правильный вариант ответа:

The most crucial steps before starting your own business do not include

 

A	following law procedures for doing business	B	writing a business plan
C	finding start up money	D	finding a partner

 

 

ЗАДАНИЕ № 43 (- выберите один вариант ответа)

Выберите правильный вариант ответа:

A business on a part-time basis will give you several advantages.

 

A	you won’t have to write a business plan	B	your present job will help to earn a living
C	your family members will be involved in your business	D	you’ll have a partner

 

ЗАДАНИЕ № 44 (- выберите один вариант ответа)

Выберите правильный вариант ответа:

ВАРИАНТЫ ОТВЕТОВ:

If you are able to successfully produce goods, it would be helpful to have a partner who

A	is a good manager	B	knows more than you do
C	has high moral principles	D	has a lot of money

 

ЗАДАНИЕ № 45 (- выберите один вариант ответа)

Выберите правильный вариант ответа:

The drawbacks of having a partner do not include

ВАРИАНТЫ ОТВЕТОВ:

 

A	sharing ideas for making decisions	B	sharing the control over the company
C	sharing the profit	D	sharing the risks

 

 

ЗАДАНИЕ № 46 (- выберите один вариант ответа)

Выберите правильный вариант ответа на вопрос:

What does a buy-sell agreement determine?

ВАРИАНТЫ ОТВЕТОВ:

 

A	the employees’ rights	B	the profit of your business
C	the attitude towards competitors	D	the disposition of the business in different situations

 

ЗАДАНИЕ № 47 (- выберите один вариант ответа)