Business Flashcards
As long as he is managing to balance the books and the cash flow is healthy I’m sure he must be bery pleased with what he has achieved.
To balance the books: to not spend more money than you are earning.
It must be difficult to make a profit when you have huge supermarkets in the area and a lot haven’t been able to survive with such cut-throat competition.
Cut-throat competition: when one company lowers its prices , forcing other companies to do the same, sometimes to a point where business become unprofitable.
Some people say you need yo do market research beforehand so you know what the market wants…
To do market research: to do research into what what potential customers would or wouldn’t buy.
I’d enjoy the process of drawing up a business plan and seeing if I could be successful.
Draw up s business plan: to write a plan for a new business.
Retailers are trying to drum up sales with price cuts.
Drum up business/ demand/ sales/ enthusiasm/ interest/ support
Drum up sth: to try to increase business activity, or get support for something.
He is happy earning a living doing the thing he loves.
To earn a living: to earn money
More than 20 companies went bust during the last three months.
Go bust = go bust
if a company goes bust, it is forced to close because it is financially unsuccessful.
The owner went into business with a local community shop and sells a lot of the bread…
To Go into business with: to join another person to start or expand a business.
I would like to go it alone..
Go it alone: to start your own business.
He has a web presence , he uses social media to raise the company profile.
Web presence:to have a website or social media profile that showcases your business.
🛎🛎🛎to raise a company profile: to make more people aware of a business.
It is a lifestyle business , he doesn’t have plans to take on employees or expand into new areas.
Lifestyle business: a business that is set up to bring in a sufficient income and no more.
It is a small niche business …
Niche business: a business that serves a small , particular market.
Seeing your sales figures improving must be wonderful.
Sales figures: a report of the income a company generates through sales of products or services.
You could end up facing stiff competition.
Stiff competition: strong competition from other companies.
