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GMAT reading Episode 1 Part 1

Tham khảo tài liệu 'gmat reading episode 1 part 1', ngoại ngữ, ngữ pháp tiếng anh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Generated by Foxit PDF Creator Foxit Software http www.foxitsoftware.com For evaluation only. tetnPassage 1 Recent years have brought minority-owned businesses in the United States unprecedented opportunities-as well as new and significant risks. Civil rights activists have long argued that one of 5 the principal reasons why Blacks Hispanics and other minority groups have difficulty establishing themselves in business is that they lack access to the sizable orders and subcontracts that are generated by large companies. Now Congress in appar- 10 ent agreement has required by law that businesses awarded federal contracts of more than 500 000 do their best to find minority subcontractors and record their efforts to do so on forms filed with the government. Indeed some federal and local agen- 15 cies have gone so far as to set specific percentage goals for apportioning parts of public works contracts to minority enterprises. Corporate response appears to have been substantial. According to figures collected in 1977 20 the total of corporate contracts with minority businesses rose from 77 million in 1972 to 1. lbillion in 1977. The projected total of corporate contracts with minority businesses for the early 1980 s is estimated to be over 53 billion per year with no 25 letup anticipated in the next decade. Promising as it is for minority businesses this increased patronage poses dangers for them too. First minority firms risk expanding too fast and overextending themselves financially since most 30 are small concerns and unlike large businesses they often need to make substantial investments in new plants staff equipment and the like in order to perform work subcontracted to them. If thereafter their subcontracts are for some reason 35 reduced such firms can face potentially crippling fixed expenses. The world of corporate purchasing can be frustrating for small entrepreneurs who get requests for elaborate formal estimates and bids. Both consume valuable time and .