M: Do you know many small businesses where you live?

R: Ah, yeah, the main street near my home is chock-full of them, to be honest. I think it's one of the few places where independent businesses are still alive and thriving, at least in my town.

M: Do you prefer buying things from big companies or small businesses?

R: Well, usually it's places like supermarkets or chains, since they have, well, a more reliable supply line or supply chain, and they have exactly what I need. I know it's not a great choice for the local economy, but the independent stores never really have what I'm looking for, usually.

M: Have you ever worked in small businesses?

R: Well, I mean, one could argue I work for one now with the podcast, but aside from that, I don't think so. I've only ever worked for larger local businesses like hotels and restaurants, but nothing like a tiny little shop.

M: Have you ever thought about starting your own business?

R: Well, I did, though this was sort of by accident with the podcast and the online classes. I like the freedom of action and the flexibility it gives me, despite the stress of organizing everything.

M: And apart from that, what kind of small business would you like to have in the future, if you could?

R: I wouldn't like to have one. I have my hands full already. However, if I were to open another small business, I think it would be something very simple, like a coffee shop or something like that. I say that's simple, it's probably much more complicated in real life.

M: So dear listener, small businesses. First of all, what is a small business? Small businesses are types of corporations, or partnerships, which have a small number of employees, so workers. And less annual revenue. Annual? Like every year. Revenue? Like money. Than a regular-sized business or corporation. Yeah. So kind of like fewer people work for a small business, and they don't make as much money as McDonald's or Apple, for example. You can also go to our favourite website, investopedia.com. In the previous episodes we've been talking about this, and they have a nice article, what is a small business? Definition, characteristics. A beautiful article. So kind of like a small business is a company of relatively limited size. And it's measured by its revenue. Revenue? The amount of money and the number of employees. So for example, our podcast is a small business. Why, Rory?

R: There are only maximum five people working on it, probably. But we should perhaps not talk about how much revenue we make.

M: Well, we don't make as much money as McDonald's or Apple or Google. Also, McDonald's, Apple or Google, if you want to, you know, to be partners, feel free to contact us. You know? Yeah. And small businesses could be partnerships, for example. When like two or more people want to own a business together, okay? Or like, a limited partnership, or this Limited Liability Company, LLC can have like one or more owners. Corporations. And usually, there are different small businesses next to your house. And Rory said that the main street near my home is chock full of them. Rory, what is this chock full?

R: Chock full just means there are lots of them. They fill every space.

M: Could you give us another example with chock full? Sounds like chocolate.

R: It does, doesn't it? Well, I suppose the small businesses are chock full of independently made goods. Because they're small businesses. They don't take things from chains, usually.

M: Yeah, chock full means completely full. It's informal. And it means like, well, completely full. Like the room is chock full of books, so full of books. We can say independent businesses are still alive, or maybe independent businesses are disappearing where you live, but if they are doing fine, which verb do we use to mean that they are fine? They're successful?

R: Well, if they're fine, they're alive, but if they're doing well or they're successful, then they are thriving.

M: Yeah, small businesses are thriving in my town or are not thriving. And what can we say if small businesses are, you know, disappearing because of large corporations like Starbucks?

R: Closing. Going out of business.

M: Yeah, they are going out of business. They are closing down because of such sharks... Shark, you know, like this, hum, hum, hum, such sharks as Starbucks are expanding. Prefer doing things, buying from big companies, large corporations or in small businesses. And Rory told us that supermarkets or chains. Chains? Like a chain of supermarkets is preferable. They are more reliable. I can rely on them.

R: Yeah, um, well, if they provide what you need consistently, then they're reliable. But if they do not do this, then they're unreliable.

M: And Rory can't usually find the things he needs in independent stores. Stores or shops. So kind of like, independent stores don't usually have what I'm looking for. I'm looking for toilet paper, and a small business next door doesn't have it. Here we can use the present perfect. So we can say I've worked for larger local businesses like hotels and restaurants. Rory, so what did you do for a hotel? What hotel was it and like, what was your position?

R: I think I worked in the restaurant as a waiter. But this was like maybe 20 years ago. A long time.

M: Did you enjoy it, being a waiter?

R: No, not really. But name me any teenager that enjoys working at that age in that kind of work.

M: What about a hotel? Also like a waiter in a...

R: A waiter in a hotel restaurant but you could be working in the reception staff or the cleaning staff as well.

M: Yeah, I used to work like, what do you call a person who delivers newspapers?

R: Well, if you're a girl, then a newspaper girl, and if you're a boy, a newspaper boy.

M: Yeah, dear listener, so you can say, I've never worked for a small business. I've only worked for larger companies, and then again, present perfect. I've never thought about starting up my own business, or I've never thought about setting up my own business. Set up my own business, or run my own business, like you run a business, like you manage your own business. And because Rory is doing this podcast, so he says that I like the freedom of action and flexibility. What do you mean here? The freedom of action and flexibility.

R: Well, freedom of action is being able to do what you want, and flexibility is being able to do it when you want.

M: You can say that I'd like to set up my own business, because I like the freedom of action and flexibility it gives me. Okay? Despite the stress of organizing everything or despite something. Because, yeah, there is this stress. And also a very good structure to use is if I were to open my own business, it would be a coffee shop or a restaurant, an Italian restaurant or a flower shop. So if I were to open my own business, it would be blah, blah, blah. Even if you don't want to open your own business, dear listener, say something, okay? Because the examiner can ask you questions about like, what about the future? Would you like to open your own business? And you say, yes, you know, if I were to open, I'd prefer to do this. Rory, now I'm gonna give you some ideas for starting up your own business. So forget about the podcast. Okay? So you need to open your own business, a new one. Rory, the businessman. So I'm gonna give you some ideas. And could you choose one, okay?

R: Okay.

M: Okay, the first one is pet sitting.

R: I like that idea, but I'm allergic to pets. So I would be a pet sitter, but I'm allergic to pets.

M: Like all pets? You're allergic to lizards and frogs and snakes?

R: Mildly. So maybe this is not the best choice.

M: Okay. What about t-shirt printing? So you have a sense of fashion, Rory. So you will launch a t-shirt printing business.

R: As long as I can print all of the t-shirts in black.

M: Without any design, yeah? Okay. How about consulting, Rory? So you are a knowledgeable person, a passionate person about a specific topic, like podcasting or teaching. So you can start a consulting business on your own.

R: Oh, that sounds like fun. That doesn't sound too different to what I do already, to be honest.

M: Okay. All right, how about a woodwork? So a person who makes furniture and who makes all sorts of things out of wood, and this is a small business niche. Rory, would you like to do that? A woodworker?

R: I would not. That sounds like a lot of work for very little reward.

M: I wouldn't prefer to start a woodworking business. All right. Ooh, how about online dating consultant, Rory? Dating consultants, okay? They help people create successful online dating profiles.

R: Um...

M: Huh? Yes?

R: I mean... I'm trying to think of a reason. That just sounds weird. I'm trying to think of a reason why that's not such a good idea. But I think some people really need help with this. So I could do that too.

M: Yeah. So you will, kind of, you will help them to organize their profiles and...

R: Organize their lives, and learn how to talk to people. Sort of like what I do now.

M: So what was it? Again, like what was your choice? Like a pet sitter and a dating...

R: Either the dating one or the consulting one, the t-shirt printer and the woodworking sound like too much work for too little reward, and the pet sitting is impossible because I'm mildly allergic.

M: Yeah, you see, dear listener, even if Rory doesn't want to set up a new business, he can say, well, but I'd like to be like a woodworker, or I'd like to be a pet sitter. You know, some interesting ideas and the examiner will find it interesting to listen to you, and you will throw in some interesting words. But I'd like to be a pet sitter, or I'd like to be an online dating consultant. Yeah, because I've got a knack for arranging people's lives. I've got a knack for something. I've got... What? Like I'm good at.

R: Hopefully we've given you a knack for business vocabulary.

M: Thank you very much for listening, and we'll get back to you in our next episode. Okay? Bye!

R: Bye!

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