ESCOLA SECUNDARIA DA CIDADE ALTA

1° ACS de inglês

Nome: Felizarda Muquira

Número: 44

Turma: A1

Classe: 12°

Nacala-porto
summary
The history of business.................................................................................................................4
advantages and disadvantages of owning a business...................................................................5
Advantages of Owning a Business............................................................................................6
Disadvantages of Owning a Business........................................................................................6
The history of business
Business is defined as an act of making money by producing or buying and selling
goods or providing services. It is an activity that has taken many various forms and has
spread to almost every corner of the world. It has created jobs for the poor but it has
also been the root to continents and even wars. When exactly did people start to do
business?

It is hard to tell when business came into existence. It is said that people in Africa used
to trade things. Their trading was characterised by the exchange of goods among the
members of a community. As time went by and with the arrival of Europeans to Africa,
things changed. Africans were introduced to money so they stopped buying and selling
by the exchange of goods and started using money. It is believed that corporations
started with the romans and expanded with the spread of the roman civilisation. Modern
day business is created to the Americans who started to shape it in the 18th century.

Today it has turned to be not only the act of buying, selling and providing services but
also a science and a field of study. Modern days business can be managed by
individuals, the state or group of people. Below you can find some names related to
business:

 Soul trader- a business owned and controlled by a single person.

 Partnerships´ savings – a business owned and controlled by two people.
 Company – a business ran and controlled by more than two people.
 Conglomerate – a large business organisations consisting of several different
companies that have joined together.
 Subsidiary – a company that is owned by a large company.

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2.1. How does the author define business?

A: the author defines business as an act of making money by producing or buying and
selling goods or providing services.

2.2 What are the roots of business?

A: the roots of business are continents and wars

2.3. How was business conducted in ancient Africa?

A: Business in ancient Africa was conducted through the exchange of goods between
members of a community.

2.4. What nation is believed to be the peonner in catabelis hing? Corporation?

A: It is believed that guilds started with the Romans and expanded with the expansion
of Roman civilization.

2.5. How did Africans start to use money?

A: Africans began to use money with the arrival of Europeans in Africa. they were
introduced to money, so they stopped buying and selling for the exchange of goods and
started using money.

2.6. Which nation is believed to be responsible for the shopping up of modern day
business? Concept?

A: America is believed to be the nation responsible for buying the modern businesses
that began to shape them in the 18th century.

advantages and disadvantages of owning a business.

Having your own business is, more and more, an alternative to working for others, an
option for the unemployed or simply for entrepreneurs who want to make their dreams
come true.

However, it may not be the best option for all professionals, before embarking on this
path, learn about the main advantages and disadvantages of having your own business.

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Advantages of Owning a Business
A. Autonomy

Having your own business allows you to organize tasks and carry them out according to
your preferences, availability and work pace.

B. Time management

Working on your own allows you to manage schedules in a flexible way, choosing the
best moments to develop work, schedule meetings or visit clients.

C. Workplace

Having your own business allows you to work from home, in the office, on customer
premises, etc.

D. Work team

When creating your own business, you can choose the elements of your work team and
guarantee, in this way, that you have the right people around you.

E. Investment in preferred activities

Possibility to do what you like professionally is a great advantage of having your own
business.

Disadvantages of Owning a Business

A. Greater Responsibility

All decisions will fall on the shoulders of the entrepreneur, so he will have to pay
attention to all the details of the business while managing customers, suppliers,
employees and other possible professional contacts. This may involve working overtime
and longer hours than normal at work for others.

B. Investment

Starting a business implies investing physically and financially, always with the risk that
the business will not grow as planned. Revenues may take time to come in and even
more investment may be needed over time.

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 C. Bureaucracy

Creating and structuring your own business entails bureaucratic procedures, from
company registration to administrative and tax obligations that must be fulfilled
monthly.

D. Uncertainty

Income from a self-employed business can be fickle, so at first it may be difficult to

earn an adequate salary or balance all expenses. It is also important to establish a
reserve fund to meet the company's needs.