British English · B2 · Unit 5
Starting something
Starting something
By the end you can
- Describe a business idea and its risks
- Persuade someone to support your idea
- Understand a short business plan
Words and phrases
| British English | Meaning | Example |
|---|---|---|
| a gap in the market | a need that no business meets yet | There's a gap in the market for a late-night café. |
| a business plan | a document that explains how a business will work and make money | The bank wants to see a business plan. |
| start-up costs | the money you need to start a business | The start-up costs are about £20,000. |
| break even | earn as much money as you spend | We should break even in the second year. |
| make a profit | earn more than you spend | When will it make a profit? |
| the risk is that | the danger is that | The risk is that a big chain opens nearby. |
| invest in | put money into (hoping to get more back) | Why should I invest in your idea? |
| a loan | money you borrow and pay back | We'll need a loan from the bank. |
| target market | the kind of customers you want | Our target market is young families. |
| word of mouth | people telling each other | Most of our customers come through word of mouth. |
| go under | fail and close (for a business) | A lot of new cafés go under in their first year. |
| a sole trader | a person who runs a business alone (British) | I'm registered as a sole trader. |
Then talk it through
Pitching an idea to someone who might invest in it. In the app you have this conversation out loud or typed, with the unit's goals to tick off and corrections at the end.