Business – B1+ English Vocabulary

Business

In this B1+ Upper-intermediate Vocabulary Lesson about Business, you will learn common terms and verbs used to talk about industries, companies, financial instruments, business operations, and the people who are involved in them. Check the definitions and examples below to understand these terms better.

Industries, companies, and financial terms

1 Industry refers to a group of companies that sell or produce similar types of products, such as the food industry, the film industry, etc., and a 2 start-up is a company that has recently begun operations.

• Finding a job in the tech industry is easy these days.
• We are hoping that Nick’s start-up will be a success.

A 3 tech company focuses primarily on technology products or services, while a 4 firm, like a company, is an organization that sells or produces something or provides a service, although people tend to use firm more in reference to a service provider. A 5 partnership is an organization where two or more partners work together.

• Gary works for a Japanese tech company that specializes in robotics.
• John joined our firm just over a year ago.
• GreenSol Inc. and CleanEarth Advocates entered into a partnership, combining their resources.

A 6 chain is a series of stores owned by the same company, and a 7 branch is one of the offices or stores of a business or chain.

• Our cafes are more popular than any other chain.
• I asked to be transferred to a branch of the bank closer to my home.

8 Shares are the many equal parts into which the company’s ownership is divided, and the 9 stock market is where investors buy and sell shares. 10 Investment is the activity of using money to increase its value. Many people invest in shares.

• My shares in the company have decreased in value this month.
• Buying those shares proved to be a successful investment.

11 Turnover refers to the value of a company’s sales during a particular period of time. The word 12 revenue is similar as it refers to the money a company earns by selling products or services. A 13 profit margin is the difference between the selling price of a product and the cost of producing it.

• Our annual revenue has doubled in the past few years.
• Our net profit margin last year was 15%.

People in business

A 14 entrepreneur is a person who starts a business, especially when it involves risk, and a 15 founder is someone who establishes a company and oversees its early stages, often providing the necessary investment. A 16 CEO is the highest-ranking person in a company charged with the most important business decisions.

• The young entrepreneur started his company at just 20 years old.
• The CEO has called a meeting with all senior staff.

Verbs and verb phrases

When you 1 go into business, you start something as a career, and when you go into business with someone, you join them as a business partner.

• These cakes are great. You should go into business and try selling them.
• I went into business with Hans after graduating from university.

If you 2 set up a business, you establish a company, and if you 3 run a business, you manage its operations.

• I plan to set up a business of my own one day.
• George has been running the business for over a decade.

When two businesses 4 merge, they combine into one entity, and if you 5 take over a company, you assume control, often by buying its shares.

• The CEO of a fellow clothing company has asked us if we’d be interested in merging.
• Peter took over the business after the CEO retired.

When someone 6 closes or strikes a deal, they negotiate and reach an agreement with someone else.

• We hope to strike a deal with them during this afternoon’s meeting.

If you 7 turn down a deal or offer, you refuse to accept that deal or offer.

• After careful consideration, the company decided to turn down the deal.

If a company 8 takes on staff, they hire new employees.

• We are currently taking on staff to work in our new store.

If a business 9 goes bankrupt, it runs out of money and cannot pay its debts, and if it 10 makes a loss, it earns less than invested. Conversely, it 11 makes a profit when they earn more money than they invest.

• During the recession, many companies went bankrupt.
• I hope to make a profit from this investment.

When a business 12 launches a product or campaign, it introduces this product or campaign to the market.

• The company launched its most recent model last week.
• We’re launching a campaign to promote the benefits of electric cars.

If a company 13 expands, it grows in size, and if it 14 diversifies, it increases the variety of products or services they offer.

• The company has expanded in recent years and now employs over 700 people.
• We plan to diversify and bring out our own range of cosmetics.

When a company 15 manufactures something, it makes it in a factory, usually from raw materials, such as minerals, oil, etc., and when a business 16 produces something, it makes it from various sources, including agricultural products, digital content, or assembled components.

• The company manufactures more than 10,000 cars each year.
• All our jams and sauces are produced locally.

After completing the exercises in this lesson on Business, you can use the unit’s Vocabulary Flascards to revise and help you memorize the terms.