Venture capital assistance success rate

Business incubators are organizations that support the entrepreneur-

ial process, helping to increase (1)… rates for innovative startup compa-

nies. Only (2)… with feasible projects are admitted into the incubators,

where they are offered a specialized menu of support resources and ser-

vices. The resources and services open to an entrepreneur include: pro-

vision of (3)…, management coaching, help in making an effective (4)…,

administrative services, technical support, business networking, advice

on intellectual property and sources of financing. The (5)… process is

intended to last around 2-5 years.

Business incubators can be private or public. Private incubators are

for-profit firms that receive (6)… for the business services, they provide

to their clients. In essence, they are a consulting firm that is special-

ized in new firm creation. In the last twenty years, many developed and

developing countries have started large systems of public business incu-

bators to encourage and assist entrepreneurship. In many cases, public

(7)… are designed to stimulate the development of new products and

services in high-tech industries.

Since new firms require finance to grow, incubators have close rela-

tionships with many kinds of investors. (8)... funds and banks provide

most of (9)… capital for incubated companies.

Evaluations of business incubators in Europe and the U.S. suggest

that 90% of incubated startups were active and growing after three years

of operation, which is a much higher (10)… than that observed in start-

ups launched without (11)….

15.* Render the following excerpt from the Russian translation of

N.C. Stropolis’ book Small Business Management back into English; use

the topical vocabulary.

Как правило, предпринимателям наибольшее удовлетворение

приносит ощущение того, что они являются хозяевами своей ком-

пании, особенно, если оно подкрепляется уважением со стороны

друзей и родственников.

Что касается финансовой стороны, удачливые предпринима-

тели не станут копить деньги или заниматься ценными бумагами,

а, скорее всего, будут вкладывать прибыль в свое предприятие для

обеспечения его роста. Они нередко более заинтересованы в рас-

ширении дела, чем в получении высокой зарплаты.

В этом заключаются основные награды от занятия предпри-

нимательской деятельностью. А как обстоит дело с опасностями?

Создание нового предприятия всегда связано с определенным

риском неудачи. Абсолютно надежного вложения капитала не бы-

вает. Как правило, чем рискованнее предприятие, тем выше по-

тенциальная прибыль. Если предприниматель добивается успеха,

прибыли могут быть высокими; если нет – можно потерять все

свои сбережения. Для некоторых людей неудача является траге-

дией; для других – это возможность начать дело заново. Генри

Форд, например, дважды терпел неудачу, прежде чем создал «Форд

мотор кампани». Многие не могут перенести неудачу; она разру-

шает их «я», ослабляет волю и энергию. Общество в целом также

несет потери при каждой личной неудаче.

16. Complete the sentences with appropriate words choosing from those

given in brackets.

1. That three hour lecture yesterday was really …! (tired/tiring) 2. It

is … to read of such crimes. (shocked/shocking) 3. We were deeply … to

hear of the failure of his business. (shocked/shocking) 4. I like … tasks.

(challenged/challenging) 5. This decision of the company management

is likely to be …. (challenged/ challenging) 6. I was … by a new security

guard who didn’t recognize me. (challenged/ challenging) 7. This idea

for starting a business doesn’t seem very …. (excited/ exciting) 8. My trip

to Paris has been cancelled. I’m really …. (disappointed/disappointing)

9. I’m very … in this subject. I find it fascinating. (interested/interesting)

10. – I heard some very … news. I’m going to lose my job. I feel terrible. –

Cheer up. Don’t feel so …. There are plenty of other jobs. (depressing/

depressed) 11. Her presentation was good but a little … for people who

were new to the subject. (confused/confusing) 12. I doubt that this busi-

ness can be …. (rewarded/ rewarding) 13. Her success story is an …

example to her followers. (inspired/inspiring)

17. Complete the sentences by putting the verbs in brackets into the pres-

ent simple or present continuous.

1. We … of going public next year. (think) 2. I … with Andrew’s cli-

ents while he’s on holiday. (deal) 3. He … a small corner shop in Man-

chester. (own) 4. The new equipment … a fortune, we can hardly af-

ford purchasing it right now. (cost) 5. – How long … your visitors …?

(stay) – Oh, I’m sorry, I … (not/know). We really need to speak to Helen,

she generally … with visits. (deal) 6. We … a big risk if we go ahead with

the project. (take) 7. This building … too old, we need to find better

premises. (get) 8. I … to Minsk next week – I can call in to your office.

(come) 9. My name is Andrey Matusevich and I … from Minsk, Belarus.

(come) 10. This photocopier … (always/break down). 11. We … the sales

to go up the next quarter. (expect) 12. I … an important call from my

Moscow partner. (expect) 13. The number of franchises … all over the

world due to the obvious advantages of this form of business. (grow)

14. This product … as well as we hoped. (not/sell)

18. Helen is starting her own business. Look at the extract from her plan-

ning schedule and then complete her letter to a business advice service.

Choose either the present perfect passive (has/have been done), present

continuous passive (is/are being done) or a modal passive form (eg: should