30 Business Collocations in Context

Read carefully this text where you will find business collocations in context and then complete the quiz

Going into Business

If you don’t want to work for someone else, you can go into business for yourself. You can set up a company (establish a company) in an industry that interests you. Of course, it’s always good to do market research (investigate the market), to determine if there’s a need for your product or service. 

It’s normal for small businesses to operate at a loss (the business is losing money) for the first couple of years before they start to break even. That’s when the money coming in equals the money going out. If there’s tough competition and your start-up isn’t able to gain market share (secure a significant number of customers), then your business runs the risk of going bankrupt (or going under) – losing all its money and having to shut down. But if the amount of money coming into the company from sales is greater than the amount spent on expenses, then you are making a profit. 

Doing business

As your business grows, you can hire/take on staff/employees. Another possibility is to make a deal (make an agreement) with other companies to do business together. In this case, representatives from both companies will sign a contract (put your name on a contract) that establishes each party’s rights and responsibilities. 

Whenever you’re planning to launch a new product, it’s essential to provide excellent customer service (help for the customers). Otherwise, your customers will take their business elsewhere. They’ll start buying from a rival company (a company that is your competitor) instead of from yours. 

It’s not easy to run a business (manage a business), but with a combination of luck, skill, and hard work, your business just might take off (become popular/successful). One way to describe a period of time of major growth and success is to say that “business is booming.” 

Do you know any other collocation or expression related to family? Share with us!… and keep on task learning more collocations in context or 25 more relationship collocations in context!

Quizz

Circle the correct words business collocations to complete this auto-biography of a successful entrepreneur: 

Part 1

Growing up, I always knew that my father expected me to gain / make / run the family farming business someday. But I really wanted to break in / set up / take on my own company. Plus, my dad was terrible at managing his finances. His business was constantly on the verge of going bankrupt / dead / exhausted. 

I didn’t want to be a conflict / rival / loss to my parents’ company, so I opened a small supermarket in a neighboring town and hired / signed / drew two employees. We made a deal / share / promise with my father. I agreed that he would be our primary supplier of fresh fruits and vegetables. Despite the tough competition / contest / opposition in the sector, our little store managed to break equal / even / level its first year in operation. 

Our market contract / profit / research showed that there was a big demand for organic food in the area, so we began offering primarily organic products and raised our prices. Some of our customers ran / took / went their business elsewhere. Others came from miles away due to our reputation for excellent products and friendly customer attendance / kindness / service. 

Part 2

Last fall, we drove / hired / launched our own line of organic fruit juices, and that’s when things really started to break up / make out / take off. We opened up a café next door to the supermarket, and business is blasting / booming / exploding. 

With the budget / profit / output we’re making, we can now invest in expansion and open a branch in another city. We’re even doing / making / taking business internationally. I’m about to sign a contract / product / staff with an organic coffee supplier from South America. 

Hope now you can use business collocations with confidence! Go on learning about the Use of English and about passing your First Certificate Exam with flying colors!

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Answer Key

Part 1

Growing up, I always knew that my father expected me to run the family farming business someday. But I really wanted to set up my own company. Plus, my dad was terrible at managing his finances. His business was constantly on the verge of going bankrupt 

I didn’t want to be a rival to my parents’ company, so I opened a small supermarket in a neighboring town and hired / signed / drew two employees. We made a deal with my father. I agreed that he would be our primary supplier of fresh fruits and vegetables. Despite the tough competition in the sector, our little store managed to break even its first year in operation. 

Our market research showed that there was a big demand for organic food in the area, so we began offering primarily organic products and raised our prices. Some of our customers took their business elsewhere. Others came from miles away due to our reputation for excellent products and friendly customer service. 

Part 2

Last fall, we launched our own line of organic fruit juices, and that’s when things really started to take off. We opened up a café next door to the supermarket, and business is booming. 

With the profit we’re making, we can now invest in expansion and open a branch in another city. We’re even doing business internationally – I’m about to sign a contract with an organic coffee supplier from South America.