D. Read and reproduce the dialogue paying attention to the expressions in bold.

Interviewer: When did you first go into business?

David: I set up a small businessselling office supplies in 1989, filing systems, office equipment and so on. In 1991 I went into partnership with my old friend. We made a loss for the first two years, but then things got better and we’ve made a profit most years ever since. But there have been bad times too.

Interviewer: In what way?

David: Well, during the economic recession of the early 1990s, a lot of small businesses were going under, and I thought our business would fold, but we survived. All around us, small firms were going bankrupt. But in 1994 we won a contract, despite stiff competition, to supply the local government offices, and that was an important moment for us. We took on staff and expanded. And we were proud that we had created jobs for local people at a time when unemployment was high. Our sales figures improved steadily, and soon we had an annual turnover of more than ten million dollars.

Interviewer: So what’s the secret of your success?

David: Well we’re quite cautious[1]. For instance, we always carry out market researchbefore launching a new product. But also, we set a high value[2] on customer service[3], especially after-sales service[4]. But at the end of the day[5], running a successful business is a combination of hard work, luck and intuition.

Interviewer: Finally, there are rumors that you may float the company on the stock market.

David: At the moment we have no intention of going public, and people shouldn’t believe everything they read in the newspapers!

 

E. Match the words and word combinations.

1) to fold	to fail financially, to be unable to pay debts
2) to go into business/ to set up a business	to start selling shares in a business or company for the first time
3) to take on staff	to be involved in the process of collecting information about markets
4) to float the company/ to go public	to start working in a particular group of people for doing business
5) to make a profit	to close because of not being successful
6) to go under/ to go bankrupt	amount of business a company does in a year
7) annual turnover	to fail to keep money
8) to carry out market research	to be in charge of the company
9) to make a loss	to create or establish a business
10) to run a business	to start selling a product
11) to go into partnership	to employ somebody, to hire
12) to launch a product	to make money

 

Reading 1: Types of Businesses