1. Industries & types of companies

• industry – a group of companies that make or sell similar products or services (the film industry, the food industry, etc.).
  She wants to find a job in the tourism industry.
• start-up – a new company that has just started operating.
  They launched a small start-up that sells eco-friendly cosmetics.
• tech company – a business that mainly creates technology products or services.
  He works for a tech company that develops smartphone apps.
• firm – another word for “company”, especially for businesses that provide services (law firms, accounting firms, etc.).
  She joined an international law firm last year.
• partnership – a business owned and managed by two or more people together.
  The architects formed a partnership to work on bigger projects.
• chain – many shops, hotels or cafés owned by the same company.
  That coffee chain has branches in most European cities.
• branch – one office or shop that is part of a larger company or chain.
  I opened a bank account at a branch close to my office.

2. Money, investment & results

• shares – equal parts of the ownership of a company that investors can buy.
  She bought shares in a large energy company.
• stock market – the place (real or online) where people buy and sell shares.
  He checks the stock market every morning before work.
• investment – using money to try to make more money in the future.
  Buying that office building was a good long-term investment.
• turnover – the total value of sales a company makes in a specific period.
  Our turnover grew by 10% compared with last year.
• revenue – all the money a company receives from selling its products or services.
  Online sales now bring in most of our revenue.
• profit margin – the difference between what something costs to make and the price it is sold for.
  We had to increase prices to keep a healthy profit margin.

Turnover / revenue are about money coming in; profit margin is about how much of that money you actually keep.

3. People in business

• entrepreneur – a person who starts a business, often taking financial risks.
  The young entrepreneur opened his first shop at the age of 22.
• founder – someone who creates a company and is there at the beginning.
  As the founder, she still has a strong influence on the company’s direction.
• CEO (Chief Executive Officer) – the person with the highest position in a company, responsible for key decisions.
  The CEO presented the new business strategy to all employees.

4. Starting & managing a business

• go into business – to start working in business, usually by planning to sell something.
  Your cakes are great – you should go into business and sell them.
• go into business with (someone) – to start a business together with another person.
  She went into business with her brother after university.
• set up a business – to start a new company.
  They set up a small business selling handmade jewellery.
• run a business – to manage and be responsible for a company’s day-to-day work.
  He has been running the family business for over fifteen years.
• merge – when two companies join to become one larger company.
  Two local banks decided to merge to stay competitive.
• take over (a company) – to get control of a company, often by buying most of its shares.
  A bigger rival took over the small firm last year.

5. Deals, hiring & business results

• close / strike a deal – to successfully agree a business arrangement with another person or company.
  We hope to strike a deal with them this week.
• turn down a deal / offer – to refuse a proposal or suggestion.
  They turned down the offer because the price was too low.
• take on staff – to hire new employees.
  The company is taking on staff for its new office.
• go bankrupt – to have no money left to pay debts and officially close the business.
  Many small companies went bankrupt during the crisis.
• make a loss – to lose money instead of earning it.
  We made a loss last year because sales were very low.
• make a profit – to earn more money than you spend.
  After two difficult years, the company finally made a profit.

Make a loss = spend > earn; make a profit = earn > spend.

6. Growth, products & production

• launch (a product / campaign) – to introduce a new product or advertising campaign to the public.
  The company launched its new phone model last month.
• expand – to grow in size or activity, for example by opening more branches.
  The business expanded into several neighbouring countries.
• diversify – to offer more types of products or services.
  They plan to diversify and add a line of organic snacks.
• manufacture – to make goods in large quantities in a factory, often from raw materials.
  The company manufactures over 20,000 bicycles a year.
• produce – to make or create something (goods, food, digital content, etc.).
  All our sauces are produced locally using fresh ingredients.