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IELTS Related Topics

  • If you don’t want to work for someone else, you can go into business for yourself. You can set up a company (establish a company) in an industry that interests you – of course, it’s always good to do market research (investigate the market), to determine if there’s a need for your product or service.
  • It’s normal for small businesses to operate at a loss (the business is losing money) for the first couple of years before they start to break even – that’s when the money coming in equals the money going out. If there’s tough competition and your start-up isn’t able to gain market share (secure a significant number of customers), then your business runs the risk of going bankrupt (or going under) – losing all its money and having to shut down. But if the amount of money coming into the company from sales is greater
  • than the amount spent on expenses, then you are making a profit.
  • As your business grows, you can hire/take on staff/employees. Another possibility is to make a deal (make an agreement) with other companies to do business together – in this case, representatives from both companies will sign a contract (put your name on a contract) that establishes each party’s rights and responsibilities.
  • Whenever you’re planning to launch a new product, it’s essential to provide excellent customer service (help for the customers). Otherwise, your customers will take their business elsewhere – they’ll start buying from a rival company (a company that is your competitor) instead of from yours.
  • It’s not easy to run a business (manage a business), but with a combination of luck, skill, and hard work, your business just might take off (become popular/successful). One way to describe a period of time of major growth and success is to say that “business is booming."



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