This glossary can help you prepare for the IELTS writing tasks related to the Self-employment in work.
barely
adverb
adverb
Example: However, the majority of small start-ups find themselves in over their heads with apps that barely function and driver shortages that specialise in inconveniencing customers.
economic prosperity
noun phrase
Economic prosperity is the key element to quality of life and is also necessary for the nation to be competitive in the world economy.
Example: This would likely lead to better consumer products across the board as well as increased national economic prosperity.
entrepreneur
noun
An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.
Example: An increasing number of people today are opting to start their own companies instead of working for a company mainly because of the increased support for young entrepreneurs.
executive
noun
A person with senior managerial responsibility in a business.
Example: One well-known example of this can be seen on the popular show ‘Shark Tank,’ where a panel of investors and executives hear product pitches and compete to purchase stakes in budding entrepreneurs’ businesses.
expertise
noun
Expert skill or knowledge in a particular field.
Example: The main disadvantages of not having an employer are lack of expertise and its overall effect on businesses.
funding
noun
Money provided, especially by an organization or government, for a particular purpose.
Example: This show has launched a number of successful products by securing initial funding.
investor
noun
A person or organization that puts money into financial schemes, property, etc. with the expectation of achieving a profit.
Example: One well-known example of this can be seen on the popular show ‘Shark Tank,’ where a panel of investors and executives hear product pitches and compete to purchase stakes in budding entrepreneurs’ businesses.
nowadays
adverb
At the present time, in contrast with the past.
Example: Nowadays many people choose to be self-employed.
self-employed
adjective
Working for oneself as a freelance or the owner of a business rather than for an employer.
Example: Nowadays many people choose to be self-employed.
specialise
verb
Make a habit of engaging in a particular activity.
Example: However, the majority of small start-ups find themselves in over their heads with apps that barely function and driver shortages that specialise in inconveniencing customers.
start-up
noun
A newly established business.
Example: There are undoubtedly positives to all these start-up companies.