II Complete the text with the words or phrases in the bold.
Capital, charity, failure, franchise, interest, know-how, lawyer, partnership, private limited company,
public limited company, sole trader
Paul Jones started his fashion business as a (1) selling clothes from a market stall in Norwich. In the
beginning he borrowed (2) from family and friends, as he didn't want to pay the high rate of (3).
the banks were charging. Another important factor was the free business advice he received from a (4)
made up of local businessmen who were happy to share their (5) with start-up entrepreneurs like
Paul. After two years, he went into (6) with another designer, Franco Camilleri. The business
continued to grow, and in 1990, they formed a (7) and they opened shops in London, New York and
Paris. Paul Jones has said he will never turn the company into a (8) because he does not want to lose
control of the business he started. One possibility, however, is to offer the business as a (9)_. Paul and
Franco are currently considering the financial and legal aspects of this idea with the help of their (10)
When Paul started trading all those years ago, his biggest fear was (20). He was happy just to be able to
make a profit every month. These days, he feels confident that his business will continue to succeed and grow
