Helen Chadwick

4. Use an appropriate article where necessary instead of the gaps.

Developing a Business Plan

Perhaps (1) … most important step in launching your own business is planning. You need to develop (2) … written statement that explains what you are going to do. Your plan should describe (3) … basic idea for your business and set forth (4) … specific goals and objectives. This plan not only guides your efforts but also helps convince (5) … lenders and investors to finance your business.

(6) … business plan should highlight (7) … following information for (8) … investors.

1. Summary. (9) … crisp overview will help investors decide whether reading (10) whole plan is worthwhile. (11) … potential investors spent (12) … average of five minutes screening (13) … plan. If you don't grab their interest at (14) … beginning, your plan will probably disappear into the wastebasket. It should include:

● A brief description of your product and market;

● (15) … brief description of your company and its principles;

● (16) … summary of your financial projections and expected return on (17) … investment;

● (18) … amount of money you now seek, in what form, and for what purpose.

2. Company and industry.

3. Products.

4. Market.

5. Marketing strategy.

6. Design and development plans.

7. Operations plan.

8. Overall schedule.

9. Critical risks and problems.

Although the business plan has (19) … simple, straightforward purpose, it required (20) … great deal of thought.

5. Fill in each of the numbered blanks in the following passage with the words you find appropriate. Use only one word in each space.

John and Mary are in many ways typical of young entrepreneurs today. They have their ……….(1) business, a hamburger restaurant in a shopping centre …….…(2) the South of England. They already have a ……….(3) of over 40 people, because ……….(4) the restaurant is quite small, it has to ……….(5) open for long hours.

They bought the business a couple of years ……….(6) and spent the first few months working ……….(7) hard that they rarely saw any of ……….(8) friends. But once they had got ……….(9) to the way the restaurant worked, they did not ……….(10) to work such long hours and were ……….(11) to take more time ……….(12). Since then they ……….(13) improved efficiency by installing a new computer system.

The restaurant has been very successful, and …….…(14) the competition from another fast food restaurant nearby, the ……….(15) of customers ……….(16) increased steadily. As a ………. (17), they are planning to enlarge the restaurant ……….(18) buying the hairdressing salon ……….(19) door and turning it ……….(20) another seating area.

SPEAKING

1. Case Study: Applying for a Bank Loan

a) Mr Hayman is talking to his bank manager. He would like to have a loan to start a small business.

Read the conversation and fill in the details required by the bank manager on the interview sheet.

Bank manager Good morning, Mr Hayman. Do take a seat. How can I help you?

Mr Hayman Good morning. Yes, you may be able to help me. You see, I'm thinking of starting a business of my own and I need some financial advice.

Bank manager I see. What sort of business are you thinking of going into?

Mr Hayman Well, I suppose the best way of describing it is tourism. I'd like to organize European tours.

Bank manager May I ask whether you have ever worked in this field before? I mean you're a teacher, aren't you?

Mr Hayman Yes, I am – a French teacher – and I've organized lots of trips abroad for children.

Bank manager Yes, but have you really looked into the arguments for and against going into business on your own? Have you fully researched the field you're interested in? Have you done a market survey? Have you looked at the competition?

Mr Hayman I must admit I haven't got that far yet. In fact, what I would really like to know from you is, would I be able to get a loan, just short term, to cover the start-up costs?

Bank manager Well, we would have to look very closely at the venture, get the key facts straight. We'd look at the type of company you intend setting up. Then we would need a breakdown of the start-up costs: premises, staff, advertising costs, etc. Then calculate your present assets and liabilities. Let's consider the last point first. What assets do you have which you could offer as security for the loan?

Mr Hayman Well, there's my house; that

must be worth at least £200,000. Then I have some savings, around £50,000, and I have some shares. I would think my total assets would be about £350,000.

Bank manager Shares, eh? And what can happen to share prices?

Mr Hayman Well, yes, I have made some small losses occasionally but I've taken that into consideration.

Bank manager Do you actually own your own house or have you got a mortgage or some other sort of loan?

Mr Hayman I have a very small mortgage.

There's only about £20,000 left to pay over the next eight years and I have no other liabilities.

Bank manager Mmmm. What size loan do you have in mind?

Mr Hayman I thought £400,000 would be enough to get the business off the ground.

Bank manager May I ask how old you are?

Mr Hayman Forty-eight next November.

Дата добавления: 2015-10-31