BUSINESS ENGLISH

Business vocabulary,

business organisation and ownership, presents and past tenses.

BUSINESS OWNERSHIP

Business activity

Private sector: Business activity owned financed and controlled by private individuals

• Sole traders
• Partnerships
• Private limited companies
• Public limited companies
• Co-operatives
• Franchises

Sole Trader - owned financed and controlled by one individual but can employ other staff - common in local building firms, small shops, restaurants.

Partnerships - owned, financed, controlled by upwards of 2 partners, terms of partners agreed throuhg contract - accountants, architects, surveyors, estate agents.

Private limited companies - owned by between 2 and 50 shareholders.

Public limited companies - owned by minimum of 2 but no maximum number of shareholders.

Co-operatives - ownership, finance and control in hands of ´´members´´,exists for the benefit to ´´members´´.

Franchises - method of business ownership backed by established ´´brand´´ name.

There are 7 forms of business ownership, we talked about every of them, all of them are different. We were talking about all advantages and disadvatages of those forms of business ownership, we tried to understand and to say some examples of it.

We have done some exercises about business, we have translate the words from english to spanish language.

At the end of the lesson we were doing another type of exercises, revised present and past tenses.