Reading Practice. payroll – платіжна відомість

Language Material

UNIT iI

payroll – платіжна відомість

net receipts – чистий прибуток

total sales – загальний об’єм продажу

returns – відшкодування

allowance – нарахування

to keep record – вести облік

bank loans – банківська ссуда

parthership – партнерство

franchise – право власності

“THE CRITERIA FOR DEFINING SMALL BUSINESS”

Numerous definitions of the term ''small business'' exist. A small business is one which is independently owned and operated and not dominant in its field of operation. A small business is one which possesses at least two of the following four characteristics: 1) management of the firm is independent. Usually the managers are also the owners; 2) capital is supplied and the ownership is held by an individual or a small group; 3) the area of operation is mainly local, with the workers and owners living in one home community. However, the markets need not be local; 4) the relative size, of the firm within its industry must be small when compared with the biggest units in its field. Of the characteristics cited, most scholars believe that the fourth, relative size, is the most important.

The SBA traditionally uses the following criteria, for defining small business: retailing (sales volume), service (sales volume), wholesaling (sales volume), manufacturing (number of employees).

The following is a list of terms that can be used to describe a business.

Total assets - all that a business owns.

Net worth - business assets less what is owned.

Gross profits - money left from sales after all expenses (except taxes) have been paid.

Employees - total number of workers and managers listed on the payroll.

Income - net receipts, the total sales less returns, allowances, and discounts.

It is necessary to keep records of a business for tax purposes and as a measure of growth. Some businesses fail because they are improperly expanded. Other businesses are unsuccessful because they expand too quickly and cannot handle problems that come with rapid growth.

Many businesses remain small and provide excellent income throughout their lifetime.

Business operation are subject to review by local, state, and federal authorities. These reviews insure that rules and regulations are being obeyed and standards maintained. Some of the operations subject to review are listed here.

Income. Business income must be reported for income tax purposes. Other reasons for reporting business income include providing information for bank loans, attracting investors, making equitable distribution of profits in partnership, and as a measure of business growth. The records are usually subject to an audit.

Working conditions. Clean and safe working conditions must be provided for employees and if required, medical and safety equipment must be provided.

Wages and hours. Work regulations and announcement must be posted where employees can read them. Employers must pay at least the minimum wage that applies to their employees.

Advertising, labeling, and packaging. Businesses must not be guilty of false advertising, mislabeling, or providing less than the labeled weight in a package.

Unfair practices. Laws prevent business persons from engaging in various unfair practices, such as price fixing and other means of restraining trade.

Discrimination. Federal and state regulations prevent an employee from being discriminated against because of colour, race, sex, religion, or national origin.

Liability and compensation. Employers are required to carry insurance and provide adequate compensation for workers injured on the job and customers injured on the business premises.

Дата добавления: 2014-12-27