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Setting up a small business

Not long ago I decided to set up a small business. As I had no experience in business activities it

was difficult for me to choose an appropriate business. So I went to the lawyer’s for consultation.

After clarifying all the details of my project and my financial possibilities he recommended me

to set up a small business in the field of services. According to the lawyer anyone who wants to

set up a small business is to make sure that he/she is choosing one which will work and yield big

profit. This requires a thorough investigation into the customer’s needs. So, the first step I had to

take was to study my future customers’ needs and wants.

I knew there were many car owners in my neighborhood. Why not open a car service station? –

said I to myself, and got down to business. One of the difficulties I was faced with was lack of

money, and I had to borrow it from the bank. The next day I made a loan of 2 mln pounds, and

was “on the seventh heaven” because now I could put my project into practice.

Now at the prime of my business life I still remember my lawyer’s words: when choosing a

business weigh all pros and cons and ask yourself the questions: what kind of customers am I

going to serve upon? How many potential customers are there in my district? How shall I attract

customers? What products or services shall I offer?

Questions:

1. What did he decide to do not long ago?

2. Was he experienced in business activities?

3. Whom did he decide to consult?

4. What did the lawyer recommend him to do?

5. What difficulties did he encounter when starting his business?

6. Why was he “on the seventh heaven” when he solved his money problems?

7. What words of the lawyers do you still remember?

SlavZgr    2   13.04.2020 14:23    6