Page 247 - IELTS Preparation Grammar and Vocab

Economics and business 41

Business tips

En Read the article and write these headings above the appropriate paragraphs.
Focus on the essentials Play to your strengths Get the finance you need Take advice

Top tips for starling your own business

A
When seeking investment, make sure you put the time and effort into developing a solid business plan you
can present to potential investors. The personal touch is also important, so try to build a good working
relationship with your bank manager — it makes a big difference.

When setting up a business, there's often no need to spend large sums on offices, fancy logos and designer
furniture. It is far more important to keep a low cost base at the start, and keep costs as variable as you can.
Make sum you are not locked into long contracts, for example.

Small businesses often have advantages over their larger competitors. If you can respond quickly to customers
and feedback and always maintain the personal touch, your business may thrive where larger competitors
have to struggle to react in such a dynamic way.

Be a sponge, learn from others' mistakes, as well as your own, and proactively seek out mentors. The Internet
and especially social networking make it easy to connect with other small business owners. It's important to
be part of a buzzing business community.

EH Which words are possible replacements for the words in italics in the text?
Word in 2.1 Possible replacements
I build develop establish produce maintain
2 set up bring on establish launch start
3 thrive accomplish flourish prosper succeed
4 seek out meet up look for search for try to find

ED Choose the correct prepositions to complete the sentences. There are similar sentences in 2.1.

We
are putting extra
1 resources into /for training our customer service team.
I will be presenting
2 this quarter's figures WI at the board at this afternoon's meeting.
It
3 is vital that we get every member of staff to focus about I on what we want to achieve as an organisation.
4 As the first to enter the marketplace we will have enormous advantages of I over rival firms.
Fial WORD TRANSFORMATION Complete these sentences with the correct forms of the words in capitals.
1 in the company were putting in their own money. INVEST
Many of the
My brother and I formed a business twenty years ago. PARTNER
3 if you can reduce your overheads.
Your business will be more
PRODUCE
4 The company is trying to reduce on transport. EXPEND
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