Dialogue No 2 (365 words)

Before you listen to Dialogue No 2 match the expressions in the left column with their translation in the right one.

Listen to Dialogue No 1 between two speakers and answer the questions below. Then listen again and check your answers.

1. What are the speakers discussing?

2. What does the first speaker need external finance for?

3. What does the second speaker suggest for raising money?

4. What can the first speaker offer as a collateral?

5. Do you think the first speaker stands a chance of get­ting a short-term loan?

6. What does the saying "a bird in the hand is worth two in the bush" mean? Can you find Russian equivalents of this saying?

8* Complete the text using the words from the box. There are two words which you don't need to use.

leaseback, create, reserves, finance, shareholders, property, low-interest loans, share capital, grants, col­lateral, assets, take a charge over, exploit, internal

When an established company needs to_____ further expansion, it can often ____(2)____ its own ____(3)____resources. One way to do this is to use profit from previous years as capital; but Hans has not had time to build up any_____(4)_____. Another way is to sell off some of the firm's_____(5)_____for cash. Companies sometimes sell their own factories or offices on condition of a_____(6)_____ from the buyer. If the company uses its assets as_____(7)_____ for a bank loan, the bank will normally _____(8)_____ the _____(9)_____.

New businesses can often get government____(10)_____, particularly if they are located in development areas. They also may get_____(11)_____or low business rates for a fixed

number of years, or assistance with finding and training staff. In return, the company will_____(12)_____new jobs.

1. cash flow forecast

2. shareholders' information

3. short-term objective

4. long-term objective

5. raise money

6. stand a good chance

7. return on investment

8. venture capital

9. profit and loss forecast

10. balance sheet

a. информация для акционеров

b. долгосрочная цель

c. прогноз движения денежной наличности

d. краткосрочная цель

e. прогноз прибылей и убытков

f. прибыль на инвестированный капитал

g. иметь хорошие шансы

h. получить ссуду на что-л.

i. бухгалтерский баланс

j. вложение капитала с риском

Speaking to Daniel Janet is trying to outline the main fea­tures of a business plan.

DANIEL: You see, I need your advice. I am going to start up a new business and so I need to raise some money.

JANET: In this case you must produce a written business plan.

DANIEL: Is it really so important?

JANET: Look, without a plan you will not be able to persuade anyone to lend or invest enough money in your business. In your plan, you must show that the lender or investor stands a good chance of being paid back or getting a good return on the investment.

DANIEL: But what kind of information will do the trick?

JANET: If your plan is intended to raise money, your figures must achieve a balance between optimism and realism to persuade banks and others that your business will be suc­cessful and worthy of a loan or an investment.

DANIEL: I am not very keen on figures and charts and it all seems very complicated.

JANET: It is very important for your plan to look profes­sional, so you must consider seeking advice and help on its production from accountants who can help you prepare the figures and corporate finance specialists who are mainly interested in helping you raise substantial sums of money from venture capital sources.

DANIEL: Maybe you will help me with the financial part of my business plan. By the way, what does it consist of?

SAMUEL: Well, the financial analysis must include a sum­mary of the forecasts, monthly profit and loss forecast for two years, monthly cash flow forecast for two years, fore­cast balance sheet for two years, the assumptions behind your forecasts, the principal risks which could affect fig­ures.

DANIEL: Oh my, I give up.

JANET: But I have not finished yet. You must outline your short-term and long-term objectives, the finance needed and what it is needed for shareholders' information, prospects for the investor or lender, including the possible value of business if floated on the stock market, so investors will be able to cash in their investment.

DANIEL: You were trying to talk me into starting a business but as a matter of fact you talked me out of doing it. The saying goes 'Look before you leap'. I did and I won't leap.

Дата добавления: 2014-12-29